Consumer complaint received 2018-10-17
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
I have been charged 5 Overdraft Fees from XX/XX/XXXX to XX/XX/XXXX totaling {$170.00} in fees. I requested a mailing address to submit a Complaint Letter along with supporting documentation and was told there is no mailing address for BOA. I was promised a follow-up from two different supervisors but never spoke with them again. 

On XX/XX/XXXX I attempted to stop any future overdrafts by requesting BOA to not process transactions with insufficient funds available in my checking account. ( XXXX - in Montana ) informed me there is no way to accomplish this on my current checking account and all payments will go through and this helps me by " preserving the relationship with the vendor '' I informed XXXX there was no need for this as most of my lenders offer Grace Periods and I would rather face embarrassment at the register for a can of soda over a {$35.00} overdraft fee to " preserve my reputation '' I was advised the only other option would result in an NSF fee which would also come out to {$35.00}. 

I find both of these claims to be weak or inaccurate as XXXX will not process a debit card transaction for my monthly bill if there are insufficient funds in the account - I know because I've tried however this is not the main concern. 


I received two XXXX Fees on XX/XX/XXXX for {$35.00} each. I called BOA on XX/XX/XXXX and spoke with XXXX, and later on his XXXX, XXXX - This call was recorded. 

My concern was that BOA had changed the order in which transactions ( withdrawals/deposits ) after they had processed to incur an additional Overdraft. My argument was that if the transactions remained in the same order, only one Overdraft fee would have been applied. 

At the end of this call, it was decided that both Overdraft Fees were valid and would remain in effect. I was informed the fees are considered valid as they were caused due to BOA 's inability to control when Merchants submit and process transactions. 

This explanation did not make sense and I requested further clarification. As he was unable to do so, I requested a mailing address to send a Certified Complaint Letter. I was told there was no mailing address available and requested to speak with XXXX 's Supervisor. I was promised a call back within 72 business hours. I never spoke with XXXX 's Supervisor. 

I received two XXXX Fees on XX/XX/XXXX for {$35.00} each. I called BOA on XX/XX/XXXX and spoke with XXXX, then XXXX ( in Texas - Supervisor ) and then XXXX 's Supervisor, XXXX ( also in Texas ) in an attempt to resolve this matter. 

I brought my account to a positive balance prior to the transactions closed processing and before any fees were applied - I have several screenshots which identify my account status and lack of fees. 

These screenshots show that as of XXXX XXXX EST on XX/XX/XXXX, my account had a positive balance of {$0.00} and all transactions from XX/XX/XXXX were still processing. Several hours later, I received two Overdraft Fees - They are dated as being applied and processed on XX/XX/XXXX which is entirely inaccurate. 

I initially requested an updated on my Escalation request - There were no notes to that effect. I recapped my story to XXXX, then XXXX, and then again to XXXX. This call was over an hour long. 

After about 40 minutes I was informed by XXXX, a supervisor, that both Overdraft Fees were valid as I deposited funds after XXXX XXXX EST. XXXX 's Supervisor, XXXX, provided the same explanation. 

This explanation is either a lie or an unenforced policy. I have been with BOA for over 5 years and have made deposits after XXXX XXXX but before Midnight with no overdraft fees. 

Upon hearing this, XXXX agreed that it would be a discrepancy on BOA 's end if this policy is not being accurately and consistently enforced. 

The call ended with XXXX agreeing to review my account history and follow-up on the following Monday XX/XX/XXXX. 

Despite calling back that same day, XX/XX/XXXX I never spoke with XXXX again. 

On XX/XX/XXXX, I deposited {$140.00} around XXXX XXXX EST while my account was negative {$120.00}. BOA reports this transaction as clearing on XX/XX/XXXX, however, no Overdraft Fee was issued. A perfect example of this policy not being properly enforced and misleading financial consumers to believe their account is in good standing, only to be retroactively charged when acceptable to BOA. 

I am including a very rough transcript of my phone call with a XXXX XXXX XXXX, XXXX in Texas, at BOA on XX/XX/XXXX. Attached to this complaint shall be recorded phone calls, bank statements, bank app screenshots, and email receipts.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation