Consumer complaint received 2022-10-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
I opened a special account for medical bills. It was an XXXX XXXX  account. I had to open an account that accrued interest as a condition of the settlement. I was told the interest would be hardly anything, but I agreed because it could not be a checking account. I wanted a separate ATM card too so I could pay the bill directly and have an easy record if I was audited. However, again I was told it was not possible. I had to transfer money into my checking account to pay medical bills. I earned XXXX interest for a year. I started with over {$4500.00} and the first month got XXXX. As time progressed and the medical bills were paid the interest went down to match the balance. On XX/XX/XXXX, I was charged an $ XXXX fee because of dropped below {$500.00}. The Bank of America representative XXXX XXXX, I believe at XXXX XXXX XXXX XXXX XXXX XXXX XXXX ATM XXXX, Virginia XXXX ) knew I would never be able to keep a minimum balance because I was paying medical bills. XXXX also knew that as the balance reached zero the account would be closed. I had to transfer {$92.00} prematurely on XX/XX/XXXX, so no more money would be lost to fees. I also did this because it had been 2 business days and I had not seen the account in question closed as per my request on XX/XX/XXXX. I feel cheated and misrepresented on the account. The only action Bank of America would offer me is a notation on the account. No refund. On XX/XX/XXXX I called Customer Service at Bank of America and closed my account. I called XXXX and it lasted 17 minutes and 16 seconds. The call I was told was being recorded. I had written down the name of the representative but my son who cleaned the house while we were celebrating our 30 years anniversary inadvertently thought it was trash. My wife ( XXXX XXXX ) called on XX/XX/XXXX and asked how long it would take and was told five business days. Two weeks later and it is still active. Bank of America had the nerve to ask me if I wanted to BORROW {$500.00} at a sky-high interest rate so I would not be charged another {$8.00}. On Sunday, XX/XX/XXXX I reached out on XXXX XXXX Bank of America XXXX ). I got a response from someone named XXXX. It was the weekend but on Monday, XX/XX/XXXX the reply said they would contact me after some research was done. Having not heard anything in 24 hours I asked for an update. I used XXXX so I could have a printable record of the conversation since it had been a month since my original request. On XX/XX/XXXX, I answered a call from XXXX. The caller identified themself as XXXX and I explained the situation. I was first told I never called on XX/XX/XXXX. I was hot. I have the phone record and was told I was mistaken. No, I called. Eventually, the account was closed, and I was refunded the {$8.00} for XXXX. I was told Bank of America was not going to refund my money for XXXX. Again, I was never told of the {$500.00} minimum and if I had I would have simply closed the account and run a ledger to keep track of the money until it was exhausted on medical bills. The call lasted 19 minutes and 40 seconds. Again, I was told the call was recorded. Bank of America refused to investigate my claim that their representative used deceptive tactics and withheld information when I opened the account a year ago. I have been a customer since XXXX and know firsthand that Bank of America often operates in a grey area when fees are considered.

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 monetary relief