Consumer complaint received 2022-11-08
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Bounced checks or returned payments

Complaint:
On XX/XX/22 I deposited a check for {$2300.00} into my checking account that I received from someone named XXXX XXXX XXXX ( at least thats the name he gave me ) who was purchasing furniture from me that I listed on XXXX. This was my 1st time attempting to sale furniture through XXXX. He texted me saying his in-law sent me the check but mistakenly included the amount for my furniture which was {$500.00} and the remaining {$1800.00} was for their movers. He asked me to let him know when the funds were deposited into my account so that I could keep {$500.00} for my furniture and then send the rest to the movers. He said the movers asked that I pay in 3 different installments and send it to the XXXX account under XXXX, XXXX XXXX. So one the check showed available in my account I sent {$500.00}, {$520.00}, and {$800.00} to that XXXX account on XX/XX/22. After they confirmed receipt of the payments and I asked when they would come to get the furniture they responded the next day saying they had to cancel the deal because they owed the movers more than they thought. So he asked me to send him {$400.00} and he would let me keep {$100.00} for my troubles. After doing that their initial check bounced on XX/XX/22. Meaning it took Bank of America almost a month to discover that I received a bad check. 

Before finding out that check bounced I tried selling my furniture to another customer because at this point I only had a couple days before I needed to have my apartment cleared out. So I received another check from a customer who said her name was XXXX. I received a cashiers check from her via USPS for {$1500.00}. This person also said they sent me a check that included their movers fee. So {$550.00} was mine including an extra {$50.00} for my assistance. So I deposited that check into my account on XX/XX/22. After that check was processed XXXX asked me to send her the {$1000.00} for the movers to a cashapp $ XXXX. I tried sending it multiple times and it kept being refunded. So then she said I could trying mailing a money order to XXXX XXXX XXXX XXXX XXXX XXXX XXXX, SC XXXX. I told her I was unable to do that so then she provided me with a XXXX account under XXXX, XXXX XXXX. So I sent {$1000.00} to that XXXX account on XX/XX/22. After doing that XXXX never agrees to a time to come get my furniture. On XX/XX/22 the check for {$1500.00} bounces. So now my checking account is overdrawn. 

I call Bank of America on XX/XX/22 because at this point I realized I have been scammed twice and need to file a fraud claim. That process took forever. I was bounced around between multiple departments and placed on hold several times one time for almost 2 hours. They tell me the fraud claim will take approximately 45 days for them to make a decision. One of the reps told me they knew I got scammed because this has happened to several other people before. So pretty much Bank of America allows funds to be deposited into your account before they know if the funds are good or not. They call it good faith of allowing their customers to access their funds before the check is determined to be good or bad. My question is if Bank of America knows this is a common scheme why continue to allow bad checks to be deposited. Me as a customer is trusting my bank to ensure a check Im depositing is good. There is no way for me to know that before using the funds they have made available in my account. This has caused me to be scammed out of over $ XXXX if you add up the checks that bounced and the XXXX transactions I made. Bank of America denied my fraud claim saying the transactions were authorized so there is nothing they can do. Now I am continuously being harrassed by them because my checking and savings accounts are now overdrawn. They have pulled money from my savings account trying to cover the overdraft of my checking account so now I have no money in either account and had to cut off my debit card and open up a new account with a separate bank. If allowing your customers to be scammed like this on a continuous basis is Bank of America acting in good faith I would hate to see what bad faith looks like. 

I am begging that this complaint helps not only myself but the next customer who could potentially be scammed as well and hopefully avoid this from happening again.

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