Consumer complaint received 2019-03-15
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I've had my checking account at B of A for over 25 years. I had a B of A savings account that has since been closed and 5 year certificate of deposit account that was opened in XXXX and also purchased savings bonds through them. The receipts I have for these transactions have my daughter listed as the POD ( Pay on Death ) or ATF beneficiary. There's just no way I would have overlooked putting her name on my checking account. On at least two occasions I confirmed with B of A 's customer service that my daughter 's name was listed as the POD ( aka POD beneficiary ) on my checking account. I periodically check and double check that my daughter is listed as the POD on all my accounts and that my contact information is correct. 

When I attempted to reconfirm that my daughter was listed as the POD beneficiary on my account at B of A onXX/XX/XXXX the teller, who was XXXX, told me that she didn't see a POD beneficiary for my account and that my daughter would have to come into the bank with me and she would have to bring two forms of identification in order for her to be listed as the POD on my account. Her response did not sound right but I was in a hurry that day because I was pressed for time at work while preparing for my upcoming vacation. Prior to this time I had never been told by any financial institution that if I want to have my daughter set up as a POD beneficiary, I would have to bring her into the bank. When I returned to the office I quickly researched the information that the teller had told me and found that this is the procedure that banks use to confirm the beneficiary after the account holder has died. I have since confirmed at another B of A financial center that the procedure the teller gave me was not correct and verified with other banks that they, also, do not practice the procedure the teller told me. If two forms of identification are required, how would parents with small children and babies have them listed as POD 's on their accounts? 

When I returned to the bank that same day I was, of course, very upset at being given this misinformation by the bank and because they were telling me my daughter was not the POD beneficiary on my account when I knew I had set her up and previously confirmed that she was listed as the POD on my account and because it became necessary for me to take time from my hectic work day to try to resolve this issue. I told XXXX XXXX what the teller had said and he asked to see my I. D. card. My I. D. has expired but I still use it for the occasions when cashiers at stores request to see my I. D. Although I've been losing weight I still look enough like the photo for the cashiers to accept the I. D. without questioning it. 

XXXX XXXX then asked for my bank card and pin. After I gave XXXX XXXX this information he began keying at his computer to access the information on my account and when the information was on the screen he repeatedly kept pressing one key, which I believe was the delete key. While intently looking at the screen as if he were reading something on it, he asked me what my daughter 's name is. When I told him he responded " No -- -your daughter is not listed as the POD beneficiary on this account ''. Why would he ask for my daughter 's name if no one had been listed as the POD beneficiary for the account? When I pressed the issue with him he said that he can list my daughter as the POD beneficiary if XXXX XXXX approves. XXXX XXXX refused to allow my daughter to be relisted as the POD beneficiary on my account. 

Because of my experience with the teller, XXXX XXXX, XXXX XXXX, and later communications from the financial center 's manager, XXXX XXXX ( as relayed to me by XXXX XXXX, the B of A representative that was assigned my complaint ), I believe that my daughter 's name was deleted as the POD beneficiary by the personnel at this financial center and that their reason for doing this and unwillingness to reinstate my POD beneficiary is racially motivated. My having observed on prior occasions, people leaving this branch enraged by bank personnel and others passing up tellers that became available while they were waiting in line providing the explanation that they don't want to go to a specific teller, reinforces that belief. While all four of the people involved in this issue at this financial center are XXXX, I am not XXXX, nor were the people that I've seen enraged and refusing to go to certain tellers XXXX. For the record, I did not use foul language, call any of these people names, or threaten them in any way other than to report them to the government agency that governs banks. I believe that the personnel at this financial center instigated and intentionally aggravated this issue in acts of discrimination. 

B of A indicates in their XX/XX/XXXX CFPB response that they are required to obtain, verify and record information that identifies each customer who opens an account. They appear to be implying that I am applying for or have just opened my checking account and that I have not provided federally required identifying information making my account subject to closure if I do not do so. I am aware of the section from the Bank Secrecy Act ( aka BSA ), Subpart B, Section 1020.220 ( a ) that B of A is alluding to that requires financial institutions to obtain and verify customer 's names, DOB, address and TIN ( SSN ) when opening new accounts. Section 1020.220 also defines a customer as a person that opens a new account that is not being opened for another individual or entity and that a customer does not include an existing account. Obviously, after over 25 years, this is not a new account and by the BSA 's  definition, I am not a customer. 

B of A also states that I was provided with a B of A Deposit Agreement and Disclosure when the account was opened. I was not provided with an account Deposit Agreement and Disclosure by B of A when my account was opened. My account was not originally opened at B of A, it was opened at XXXX XXXX XXXX. B of A acquired my account when the two banks merged. Subpart A of the BSA also states that for the purposes of Section 1020.220 the definition of an account does not include an account that the bank acquires by acquisition, merger, etc. 

If B of A is insisting that a current photo I. D. is legally required to open or change an account, why did a B of A teller open a credit card account for me five years ago without my I. D. after I was continually harassed to open one and why are their tellers continually harassing me to let them open a savings account for me without a photo I. D.? I don't want one of their zero-point-nothing interest or let-us-risk-your-savings accounts and after seeing the nonexistent state their customer service has digressed to, I don't intend to open another account with them. 

During my initial communications with XXXX XXXX. I was advised that he would ask their financial center manager, XXXX XXXX, whether he would accept my bank card and/or social security card as secondary I. D. so that my daughter could be listed as the POD beneficiary for my account. I also offered to show him a certified copy of my birth certificate and rental statements ( with my name and address on them ) for the lot my home is on. XXXX XXXX, advised me that the financial center manager responded that he would not feel comfortable accepting that documentation. 

I have been a patron of this financial center for the almost 16 years that I've worked for my current employer. XXXX XXXX and some of the tellers used to call me by my first name while depositing and cashing my checks, in confirmation that they recognize me as the account holder for my checking account. Every time I spoke to XXXX XXXX, whether I called him or he called me at the telephone number listed on my account, he was identifying me as the account holder or he wouldn't have discussed my account with me. They know me well enough to open a credit card account and try to get me to open a savings account and to cash and deposit my checks, yet, they refuse to reinstate my daughter ( who has the same last name as I do ) as the POD beneficiary on my account. 

In continuing to communicate with XXXX XXXX, he told me that XXXX XXXX advised him that he's required by the Patriot Act to require a valid photo I. D. before any changes can be made to my account. I asked XXXX XXXX for the provision and section numbers of the Patriot Act that pertain to those requirements. XXXX XXXX told me that it's the section of Title III pertaining to money laundering. I researched the Title III section and found that it pertains to foreign banks and foreign transactions. I am not of foreign birth, this is not a foreign account and it is not used for foreign transactions. It is a personal checking account that I use to cash and deposit my pay checks and tax refunds, cash petty cash checks and pay my personal bills. Is B of A accusing me of money laundering and terrorism after I've used this account in the same manner for over 25 years at B of A and years before at XXXX XXXX XXXX? 

XXXX XXXX told me that not only are they required to obtain a valid I. D. by  the provisions of the Patriot Act, the Bank Secrecy Act and federal government also requires that a current I. D. be produced before making changes to any account.. If that were true, then B of A broke the law every time they changed the address or telephone number for this account because I did not provide a current I. D. to make these changes. 

I asked XXXX XXXX to tell me the provision and statute numbers from the acts, regulations and laws that B of A is citing but he would not do this. In reviewing the Bank Secrecy Act, Patriot Act and FDIC regulations, nothing was found that would support B of A 's refusal to relist the POD beneficiary on my account or require that I produce a current photo I. D. for them to do this. 

B of A finally told me that their system won't allow any changes unless current non-expired I. D. information is entered into it. Is their system linked to the federal government 's passport office 's and XXXX databases so that they can immediately identify that an I. D. card or passport has expired? How were they able to update my address and phone numbers without my providing a current I. D.? And, as I previously indicated, XXXX XXXX was going to reinstate my POD beneficiary if XXXX XXXX approved and XXXX XXXX asked XXXX XXXX to reinstate my daughter using my bank card and social security card as secondary identification. How would that have been possible if a current I. D. card is necessary? 

XXXX XXXX told me that B of A retains account records for only 7 years. They apparently did not retain information that ( in addition to my I. D. card ) was used to open the account such as maiden name, mother 's maiden name, place of birth, etc. This would explain their unwillingness to. accept my birth certificate as an additional form of secondary identification. XXXX XXXX told me, they don't even have my signature card. In what I feel is the unlikely event that their financial center 's personnel didn't delete my POD beneficiary, with B of A 's elimination of records pertaining to my account and upgrades to their system and procedures ( such as the addition of two zeros in front of account numbers which they implemented a few years ago ), evidently, my POD beneficiary was also not retained. 

B of A verbally threatened to close my checking account, with which I've been depositing, cashing and writing checks without any previous issues with their bank for over 25 years, for no reason that I'm aware of other than that I asked for my daughter to be relisted as the POD beneficiary on the account and their only reason for not doing this is that they choose not to do it and can't seem to come up with enough misinformation to justify that choice. 

I don't want to communicate by telephone with XXXX XXXX or anyone else B of A may have try to contact me in response to this complaint. While their phone system indicates that they record our conversations, they will not leave or send any informational message other than to call them back. I am hoping that responses can continue to be submitted through this forum so that the communications can be documented. 

If B of A is continuing to use laws / regulations as the excuse for not reinstating my daughter as the POD beneficiary on my account, I want to know the provision, section number and source of that law / regulation. If they have any valid reason for not reinstating my daughter I want to know that reason. Otherwise, they should immediately reinstate my daughter as the POD beneficiary and responsibly put an end to the nightmare that they made a simple request into.

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