Consumer complaint received 2023-08-04
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
I have chosen the fee problem because it is one of the issues I will discuss in the description section, but the major problem needs to be listed.

Bank of America has repeatedly failed to take matters seriously and often seeks ways to dismiss any complaints. I have reached out before, and the complaint is referred to the Regulations Department, which needs to be investigated properly and thoroughly. I am requesting that the CFBP investigate my allegations.

I will present three ongoing issues : 1. Consistent violation of dispute policy 2. Overdraft fee charges for funds refunded 3. Delayed deposits or deposits not posted on the date promised.

The consistent violation of the BOA dispute policy consists of threats to close my account, encouraging a disabled customer to shop in person rather than online, and the restriction of the dispute transaction link. This has been going on for years, and BOA expects me to allow merchants to keep the funds paid for products not received or damaged products. The only consideration given is if I express that it was fraudulently taken. If it was taken without authorization, I will not hesitate to mention it. However, if I give my information to the merchant and the items are defective or damaged, then I can not allege fraud. 
See below : How do I submit a credit card dispute?

Before initiating a claim, consider calling the merchant first, as they may resolve your claim faster ( we may also require information from the merchant to process a claim, so contacting them directly may save you time ). Additionally, please note that only posted transactions can be disputed ( pending charges are temporary and may change ), so if you have any immediate concerns about a pending charge, you may want to contact the merchant. You can typically find the merchants contact information on your receipt or billing statement.

Online Banking customers can submit most credit card disputes directly from the transaction detail found in the Activity tab on your credit card account page, or from the Dispute a transaction link on the Information & Services tab. 

Timely notification is important. Most transactions must be disputed within 60 days of the date of your statement on which the error appeared. If you did not provide your account information to the merchant in question and suspect that your information was stolen, please contact us immediately. 

While our online dispute process is the easiest and fastest way for you to submit a claim, you may also write or call us. Please visit our credit card customer service page for additional information.

There is no indication in this BOA policy section of information that a customer has a limited amount of disputes per year. When I first applied, I was told the charges could be disputed. There were no terms impressed on sign-up. I am often denied the right to fight for my funds and to seek assistance from BOA, and even though I follow their directives to reach out to the merchant, I am still rejected, threatened, and discouraged from filing disputes. See website XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX There is a dispute transaction link, and it is activated for every BOA customer except for me. When I inquire about this restriction, BOA refuses to answer. This is discriminatory. BOA violates its policies concerning specific clients. 

I can understand overdraft fees for charges taken for insufficient funds, but when the funds are refunded, the cost should be as well. If these funds had not been taken out, I would have had enough to cover several charges. According to a customer service representative ( CSR ), the transaction causing the overdraft fee was not XXXX XXXX but XXXX. This information needs to be corrected. Some CSR are not familiar with their banking policies. 

A deposit was made on Saturday, the XXXX of XXXX, and the next business day was documented as XX/XX/2023, I received the funds on the XXXX of XXXX, and I needed those funds to travel to have a XXXX XXXX done. This isn't very good to do to anyone. Holding the funds purposely is a problem. 

Bank of America has repeatedly refused me the right to services offered to other clients. I know this will be forwarded, but it will not lead to them investigating properly.

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