Consumer complaint received 2021-09-24
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: IL
Product: Money transfer, virtual currency, or money service
Sub-product: Mobile or digital wallet
Issue: Fraud or scam

Complaint:
I had posted furniture for sale on the XXXX app. I got a request to buy one of the items by a person named XXXX XXXX on XXXX XXXX. While discussing the pick up and payment, he decided to buy more and we finalized on the overall amount of USD XXXX. He was to pick up the items on XXXX XXXX. I asked him to XXXX the amount but he did not have that set-up and instead requested that he pay by check. On XXXX XXXX we shared several texts on the number XXXX ( XXXX ) XXXX. He also requested if I could help pay the movers a fee of USD XXXX. I told him to handle that on his own but then he said he was in the hospital taking care of his son and would be grateful if I could help. I felt sorry for him and in good faith agreed to paying the movers. He sent me a check via email through XXXX XXXX the email ID on this XXXX XXXX was XXXX. I deposited the check in my account in Bank of America via mobile deposit. The next day, my account showed that the check amount had been credited and the balance in my account had increased by that amount giving me assurance this was all good. He had requested that I Zelle the movers fee to an email ID he shared - XXXX, with the name- XXXX XXXX. Once the amount showed as credited in my account, I zelled the movers amount to the email ID that XXXX had shared. I also sent him a confirmation of the text on this email ID - XXXX. The next day he texted again saying that he had the amount of the movers wrong as they had helped him transfer his cars too and requested if I could help transfer an additional amount to the mover. He sent me a check of USD XXXX. The next day the amount showed as credited in my account and I zelled the money. He had shared a new email ID but I said I was not comfortable sending amount to same mover on another email ID, he said I could send it to the same email ID. So I zelled the {$1800.00} to the same email ID XXXX, XXXX XXXX XXXX . On day of pick up, XXXX XXXX, he messaged saying the truck had a breakdown, so will not be able to pick up that day and requested for a reschedule to XXXX XXXX. After that he did not pick up the phone or respond to my texts. On XXXX XXXX morning, I saw return check fee and the checks returned. I called Bank of America to understand why the check was showing as returned when it was already credited. They said that for privileged customers they credit the check amount before the check is actually cleared. This was misleading as there was no such message or notification when the amount was credited to my account leading me to believe that the check was good and i could XXXX the amount further. They have raised a claim to help recover but there is no guarantee. The havre aware that scammers are using this loophole on sites like XXXX and XXXX XXXX and have seen several such cases. If they know this is happening, they should have fixed it so people like me are not being scammed continuously! I have lost USD XXXX because of this loophole. Request that I am returned this amount and banks fix this loophole to stop these scams.

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