Consumer complaint received 2017-01-04
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Deposits and withdrawals

Complaint:
I made the max contribution for XX/XX/XXXX of {$3300.00} to my Bank of America Health Savings Account ( BoA HSA ) on XX/XX/XXXX. That amount was taken from my checking account on XX/XX/XXXX. I checked after 5 weekdays ( the typical time for processing ) and the transaction was still pending, which I attributed to the holidays. I rechecked the next day and the transaction was gone. I looked under help tickets on my account and found that BoA had opened a help ticket which stated that my account was closed XX/XX/XXXX due to inactivity and since it had been more than 180 days, they would need verification that I still had an HSA-eligible insurance plan. To my knowledge, I was never informed of the account closing. Also, I was able to make the contribution as I always had in the past-there was no flag on my account that it was closed. Regardless, I contacted XXXX, my insurer, to get BoA the info they needed. The XXXX rep was on the phone with me for over an hour as we tried to resolve this situation with BoA. After listening to multiple BoA reps, it seems the confusion is that my account was set up incorrectly in XX/XX/XXXX, listing XXXX as my employer rather than my insurer. To reopen my account, they want an email from XXXX verifying my employment and insurance plan. Both I and the XXXX rep explained to multiple BoA reps that I have an individual policy with XXXX because I am self-employed. I am not now nor have ever been employed by XXXX. Neither I nor the XXXX rep seemed to make any headway with BoA ; nevertheless, the XXXX rep faxed a letter indicating my HSA eligibility and we were told it would be taken into consideration but they still needed the employer verification. On Friday, XX/XX/XXXX, I spoke with a supervisor with BoA HSA and re-explained the situation. She verified that I was listed as an employee of XXXX and said that she would elevate my help request to critical status, meaning it would be addressed within 24-48 business hours. She also stated that she would call today, Tues-XX/XX/XXXX, with a status update at minimum. I assured her of my appreciation for her assistance but also let her know that I would be filing a complaint with CFPB if there was no follow-through as promised due to the seriousness of the situation. As of XX/XX/XXXX CST, I have received no call. I checked my account online and all my help tickets were listed as " resolved '' and under account balance " no record found '' is notated. I have initiated a help ticket of my own on the BoA site and am now filing a complaint with CFPB as BoA HSA is holding my funds in the amount of {$3300.00} without any notice or plan for resolution. In addition, due to their error in setting up my HSA account, I am currently being blocked from utilizing it in order to process past medical claims that I have paid directly.

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