Consumer complaint received 2022-09-03
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
on XXXX I called Bank of America customers support and reported transaction that happened on my business debit card. I notified Bank of America the same day the last unauthorized transaction cleared on my statement. So between XXXX and XXXX a total of a {$160000.00} was withdrawn from my bank account with out my knowledge or authorization. I realized that the unauthorized transaction were happening on XX/XX/XXXX after I received a call from my floor plan company rep telling me the ach payments were returned. So i started to review my bank statements and realized all my money is gone. 

After I opened the fraud claim on the XXXX with Bank of America, I called back on the XXXX to ask how long the process takes for me to get the money back and the investigation to be completed because I have bills to pay and i cant operate with no money in the account. XXXX told me that the investigation can take up 10 days but if more time is needed it can take an additional 60 days. I asked him what about the money. He said he will issue me temporary credit until the investigation is complete. I thanked him and hung up. I notified my floor plan rep I will have the money within 72 hrs and XXXX be able to pay off the cars. 
I call Bank of America on Tuesday and ask them If the temporary credit will be issued today because I have bills to pay, they told me the wrong request was put in for the temporary credit and they will escalate my claim with this phone call and I should receive the temporary credit within 24-48 hrs. I called my rep and told him XXXX have the money by Friday XX/XX/XXXX. 
I called the bank Thursday to make sure everything is still processing and if there is anything I can do to help them with the investigation. I get told that the claim was denied, and someone authorized on the account made those transactions. 
I explained to the fraud team that no one else is on the account but me. I also told them I have my card and no one knows my pin. They told me to put everything in writing and fax it over to them. I did that on Friday XX/XX/XXXX and i call back Monday to make sure they received my fax and I get told that my claim will remain denied. I asked them why? And I was in shock because they were treating me like I am the one committing fraud. 
I get told why did you take this long to report it, I told bofa I reported the fraud the day I noticed it and the day the last transaction cleared. Then they told me the other reason was that I have done business with that merchant before, and this is normal usual activity. I told them yes I have done business with them and told that to the person that opened the fraud claim on XX/XX/XXXX. And I also told them I stopped doing business with that merchant in XXXX and if you can look thru my statements you will see that there is XXXX transaction between XX/XX/XXXX and XX/XX/XXXX. I also told them that I only spend {$17000.00} and some change with that merchant in 3 months. and after they were hacked in XXXX I removed my banking info and stopped doing business with them. And I also asked them how is {$160000.00} withdrawn out my account in less then 2 month with XXXX alerts, XXXX phone calls and that much money taken from me in less then 2 months is usual activity. 
They asked me to put all this in writing and fax it over with what other proof I have. So I did so. I also showed them proof that I havent had access to that merchant account and emails between me and the merchant customer service support team showing I am having issues accessing the account dated back XXXX. After I fax that over they claim they never received it. So on XX/XX/XXXX I go to the branch and i explain to the branch manager my situation and they faxed it over and escalated the claim. The fallowing week, I get told the claim is denied because bofa claims they sent me XXXX text alerts that I responded to confirming the activity on my account. I never received the text alerts or responded to them. They asked for proof so i sent them my entire text log from XXXX XXXX XXXX showing them I never responded or received the text. They still denied the claim and asked me to get a letter from XXXX XXXX XXXX stating I did not respond to those text. Now we are in XXXX, I get a letter from XXXX XXXX XXXX stating I did not respond to those text alerts, with the exact time that BOFA stated they texted me. They still denied the claim : The branch manager calls them and asked them to escalate the claim and this is complete none sense, the branch manager also asked the fraud team why does the fraud claim keep getting denied for different reasons each time the customer calls in, and each time I sent them proof that they ask for. No one can answer that. After 2 weeks of going to the branch and getting lied to each time we call in, the branch manager contacted the market leader, and asked him to escalate it. After that I received a phone call stating that the claim will remain denied because no fraud has happened and those transactions were authorized. That phone call was from the senior analyst. Then she tells me its a legal matter now. After complaining and more phone calls to bofa, I get a call back from the senior analyst again and she tells me that my claim will remain denied, but what they are doing is that BOFA had requested a charge back on the merchant account for all the charges that I claim are unauthorized, and what ever money BOFA can get back is what I will get back. I asked her if shes being serious. Because nothing shes telling me makes sense. I asked her if BOFA is 100 % sure that no fraud has happened and they denied my Claim regardless of all the proof I sent them that I did not make those transactions and that I am a fraud victim whos getting treated like Im committing fraud, and asked why would BOFA break the law for me and charge back that merchants bank if they are sure no fraud was happening and all the transactions were authorized by me? I asked why charge them back? the senior analyst told me they are doing as a courtesy for me. And then rudely told me that she cant stay on the phone because we keep talking about the same thing over and over with out getting anywhere. I have been looking for legal service that I can afford since Bank of America decided to bully me around because of their size and how much money they have. My entire livelihood is on the line and my entire business is shut since XXXX and i cant get help from anyone. Also my daily set limit is set at {$7500.00} and some days they have withdrew $ XXXX $ XXXX And not a single notification from Bank of America XXXX 

I have explained to everyone that I am a XXXX man business. I was XXXX on XXXX for XXXX weeks, I got back to work and caught on everything I was behind and then on XX/XX/XXXX a car gets stolen off the lot, on XX/XX/XXXX I had a death in the family. After dealing with all this I get told by the bank that if a miracle happens and this claim gets over turned, there is a very high chance i wont get my money back either. 

I already lost the other cars that were on my floor plan, the company came picked up the cars, the Florida department of revenue is going to suspend my sales tax and file criminal charges against me for not paying sales tax because I have no money in my account, and every single person I talked to in the higher management team has put me to the side and everyone I talked to from the fraud team does not understand why the back office analyst team has denied my claim. 
I have contacted the merchant XXXX via email since they dont have a phone number and they refuse to help unless the bank sends them a cancellation letter for the claim. 

I have reported this to the police, the FBI, FDIC, State attorney office, OCC. i am losing my health over this matter, I cant sleep at night, and I am tired of everyone over looking the facts and giving me the run around. Bank of America is bullying me around because of how big and deep their pockets are and this is unacceptable.

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