Consumer complaint received 2019-10-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Other transaction problem

Complaint:
On XXXX XXXX, XXXX, I went to my branch of Bank of America ( BOA ) to initiate a wire transfer security deposit to a company with whom I had been dealing. The company had sent instructions via e-mail on how/where to wire the deposit ( XXXX in XXXX ). 

The BOA representative, XXXX, suggested I go home and do this on-line - saying it was cheaper and easier. I did so, but found that I still couldn't figure it out. I called BOA and was eventually transferred to XXXX, in Small Businesses, who stayed on the line with me, signing simultaneously into my account and walking me through the process. 
We hit " submit '' on a {$2000.00} wire transfer and after several minutes, XXXX said there was a glitch - an " error '' - the system just kept spinning and spinning. He had never seen this happen. He requested that I close out and sign back in and try it again. Again, we had the same issue. It did not go through. He was perplexed and suggested I reset my browser, turn the computer off and on and then we'd try it again. As I had already taken up 34 minutes of his time ( see attached phone log ), I said that I would try it and call back if necessary. The third transfer ( for {$2000.00} - the correct amount ) went through. My call with XXXX was recorded. I have requested a copy, but BOA says I need a subpoena to obtain it. 

Approximately an hour later, I received three separate e-mails saying all three transfers had gone through!!!!! I immediately called BOA and was told it was " too late '' - that they would have to request a reversal. I also contacted the company and they indicated they would immediately reverse the funds. I found out today that the transactions should have been cancelled - they had not yet reached XXXX, but were in a holding pattern at the intermediary bank here in the US. 

20 days later - nothing. I had not received any communication from BOA, only the many fruitless calls I made wherein they said they had requested recovery, but had no response. I continued to reach out to the company, also no response. It was at this time, I discovered I had been scammed. Someone had reached out to me, using the company logo ( XXXX ), address and format and armed with all my information regarding my interaction with the legitimate company and scammed me into submitting a deposit, which isn't necessary for the legitimate company. 

I was getting nowhere with BOA via phone. A representative on XX/XX/XXXX told me I was on my own and was welcome to sue XXXX but BOA was not going to do anything. On XX/XX/XXXX, I met with my branch manager, XXXX XXXX, who was completely sympathetic and indicated that of course they would make good on their error. Imagine our surprise, when XXXX XXXX, a Tennessee supervisor in on-line banking stated that BOA is, pursuant to an agreement buried on its website, not liable at all for any errors - that on-line banker is strictly at the user 's own risk. ( see attached provision ) This CAN NOT be so! BOA is responsible for 2 separate, unauthorized wire transfers, each in the amount of {$2000.00}. I found another provision that states they are only liable for the amount of their error. 

I have copies of all phone call records and e-mails I sent to what I thought was the legitimate company.

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