Consumer complaint received 2016-07-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
I am the victim of a fraud. The scheme is as follows. I was contacted by someone from XXXX with a request to take care of a pet. The person sent me a check, which I deposited in my Bank of America checking account. Once the check cleared, I deposited the amount into another Bank of America account as instructed by the fraudster ( minus my fee for the services ). As I was suspicious of this, I waited until the check cleared ( on the very next day ) before I deposited the cash ( minus the advance payment for the services I provided ) to a fictitious pet store for food and other pet care. 
Here are the details : On XXXX/XXXX/2016, I received a check for {$2900.00} and I deposited it the same day at the local Bank of America branch in XXXX XXXX, CA. The check cleared the next day ( XXXX/XXXX/2016 ) and I withdrew {$2600.00} and deposited that amount to another Bank of America bank account. On XXXX/XXXX/2016 the check for {$2900.00} bounced back and the same amount of money was withdrawn from my account. I called the bank ( spoke to XXXX XXXX ) and they told me to contact the fraud department. I asked the fraud department why the fraudulent check cleared the next day, while other checks take at least a couple of days to clear. She said the reason was I had been a loyal customer and had been given access to the money prior to the clearance of the check. I think this is misleading as I would have never withdrawn the money before the check cleared. As a result, I became the victim of a fraud and I 'm questioning the bank 's policies regarding clearing checks. I was told during numerous discussions with the Fraud department that the bank 's policy is to allow customers to use uncleared funds if their accounts are in good standing ; however, the policy appears to not be applied consistently as it was only applied once, for the fraudulent check I received. All checks I have deposited so far have taken more than XXXX days to clear. The policy was only applied to XXXX check which turned out to be fraudulent and the funds were deposited into another Bank of America account. The bank did not provide information regarding where the funds went or tried to do anything about it considering the money was deposited into another Bank of America account. 
In conclusion, I believe that Bank of America 's policies and procedures have caused a loss for the amount of {$2600.00}. With my limited income and as a new immigrant, this is causing me and my family an unbearable financial burden and I 'm unable to pay my rent. 
As I have exhausted all other options for resolution, I am writing to you and hoping you could help me understand why the bank 's policies are applied inconsistently. I do not blame the bank for the fraud, I blame the bank 's policies which when applied inconsistently may result in financial loss for the customers. I have also contacted the police which is investigating.

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