Consumer complaint received 2018-05-09
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
On Saturday XX/XX/XXXX I went to my Bank of America 's online banking portal to see my account balances, to initiate a transfer of funds to XXXX, originating from XXXX ( because they give immediate credit of inter-bank transfers to clients in good standing ) to pay my XXXX credit card payment due on XX/XX/XXXX. 
> When I looked at my Bank of America Business account on XX/XX/XXXX it showed a positive balance of {$6.00} > I transferred from my Personal BofA checking to my Business checking {$170.00} making the shown available balance to be {$170.00} > I initiated from XXXX a transfer of funds from BofA to XXXX for {$170.00} also on XX/XX/XXXX ( and made the credit card payment at XXXX based on the immediate credit of funds, so the credit card payment would be on time ). 
XXXX My Complaint is : On Monday XX/XX/XXXX when Bank of America reconciled weekend activity/transactions, a monthly service fee of {$14.00} was also posted, BUT with a ledger date of XX/XX/XXXX, which was not a part of my viewable available balance on the evening of XX/XX/XXXX. So with a total balance shown of XXXX, minus that unposted/not shown as pending {$14.00} service fee subtracted first, leaving the balance as XXXX, my transfer out to XXXX was declined, and charged an NSF of {$35.00}. Leading to probable NSF fees at XXXX for the credit card payment, and the returned deposit decline. 
- The jist of the complaint is, customers depend upon accurate account balances, reflective of any pending debits or fees when they view their accounts online - Bank of America says my account was negative < $ XXXX> on XX/XX/XXXX based on the ledgered but not showing XX/XX/XXXX {$14.00} account maintenance fee and argued that my account would have shown negative on XX/XX/XXXX when I initiated the transfer in and out ; which is not correct. 
- If the account had shown negative due to the {$14.00} service fee, and I was transferring monies in, to be immediately transferred out to another bank, to then pay a credit card ... ... ... .if defies logic that I would have actively chosen not to acknowledge the negative {$7.00} and added that as part of my transfer in to be {$170.00} or more, to avoid an obvious transfer out decline, resulting in a declined credit card payment. 
- I have no dispute with the {$14.00} account fee, BofA refunded the {$35.00} charge ; but they are absolutely standing by that my online banking would have shown visible to me that I was negative on XX/XX/XXXX ( due to a journaled but not apparent fee shown as assessed on XX/XX/XXXX ).

There's something amiss with transaction date vs. posting dates of fees, and the delay in it appearing on online banking causes unreliability for balances shown on accounts, and assessing fees over transactions to cause unnecessary fee charges as profits. 
My transfers between my accounts reconciled on XX/XX/XXXX, and the CSR and Supervisor I spoke with, both said they were unable to see date and time I initiated the transfer ( which was Saturday evening XX/XX/XXXX ), only when it posted on XX/XX/XXXX, which is also when my backdated service fee precluded all other transactions ). 
A few years back BofA got in trouble for manipulating the sequence of deposits and debits, and now they are doing it with fees, and not acknowledging that balances shown are not reliable, especially on weekends.

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