Consumer complaint received 2019-12-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
On the evening of XX/XX/2019 at approximately XXXX XXXX, I made a deposit to my Bank of America checking account via a Bank of America a ATM in the amount of $XXXX.  My available balance prior to the transaction was $XXXX.  The receipt that I printed from the ATM showed that the entire deposit value was going to be put on hold until XX/XX/2019 at XXXX XXXX (see attached image).  As the image shows, my available balance after the deposit was $XXXX.At approximately XXXX XXXX on XX/XX/2019, my phone received a push notification that my checking account was overdrawn, and that my current balance was -$XXXX (note the negative sign).  When I logged into my checking account online (see the attached image), I saw that two additional holds had been placed to extend the original hold, one until XX/XX/XXXX at XXXX XXXX and one until XX/XX/XXXX at XXXX XXXX.  However, the latter hold was not a true hold--it was a *full deduction* of the check amount $XXXX which inadvertently resulted in my checking account being overdrawn.I called Bank of America around XXXX XXXX on XX/XX/XXXX and spoke to three people.  Each of them effectively said the same thing:  the hold was not an error, and that I needed to wait 24 hours for the overdrawn balance to be corrected.  I told them that this was unacceptable.  The last manager with whom I spoke said that she would contact the office that handles such corrections and get back to me within an hour with an update.After two hours of not hearing anything, I called Bank of America again at about XXXX XXXX on XX/XX/XXXX and got a different call center agent.  This one told me that she talked with her supervisor, and that the overdrawn error would be corrected and reflected online within an hour (by approximately XXXX XXXX).  I had a lunch appointment and was unable to check my account until XXXX XXXX--3.5 hours after the phone call--and the overdrawn error had still not been corrected.I called and spoke to a new agent around XXXX XXXX on XX/XX/XXXX who also told me that I needed to wait 24 hours for the overdrawn error to be corrected.  I asked him why the other call center agent had told me that it would/could be corrected in an hour, and he said he didn't know.  He scheduled a time for the original manager that I had spoken with between XXXX and XXXX XXXX to call me back at XXXX XXXX.  It is now XXXX, and I'm still waiting for her call.I find this whole situation completely unacceptable.  I understand that mistakes happen, but a mistake of this magnitude--which makes it impossible for me to get access to any of the funds that were already cleared in my account--should be correctable IMMEDIATELY.  I am lucky that I do not have any automated withdrawals being taken from account today, but I often do have automated withdrawals taken from my checking account.  In particular, if an automated payment does not go through for my car insurance, the insurance company will immediately demand all payment for the entire *year* at once.  So mistakes like this have consequences.I am bringing this to the attention of the CFPB because I do not want to see others go through this same issue in the future.  Bank of America needs to correct this action for me ASAP and put standards into place to guarantee that mistakes that are made like this in the future received top priority for correction.

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 non-monetary relief