Consumer complaint received 2023-01-18
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XXXX  I created an ACH transfer of {$2500.00}. This was completed from my Bank of America ( BofA ) Adv Relationship Banking checking account. The transfer was to withdraw {$2500.00} from my XXXX XXXX XXXX XXXX ( XXXX ) checking account to deposit into my BofA checking account. 

On XX/XX/ I created another ACH transfer. This too was completed from my BofA checking account. The transfer was to withdraw {$2000.00} from my XXXX checking account to deposit into my BofA Advantage checking account. 

On XX/XX/ I went to a BofA branch in XXXX, NV to withdraw some funds from my BofA checking account. I was told that they had placed a credit fraud hold on my BofA checking account. 

They put me in a room and gave me a number to call. I called then number and was placed on hold for 45 minutes. At XXXXXXXX XXXX I gave up and terminated the call. 

The next morning ( Tuesday XX/XX/ ) I called the BofA consumer fraud number and spoke to a consumer fraud officer. The officer said that they were unable to verify that the funds they received came from me. I explained that I had initiated the transfer from my BofA account from my XXXX  account. I am the only account holder for both accounts. I also explained that BofA had plenty of security in place with my username and password and my having provided my XXXX  routing and account numbers. 

The officer said they had sent a XXXX request to XXXX asking XXXX to verify the funds came from me ( Option # 1 ). They indicated that the analyst would also accept a main office phone number for contacting a XXXX service representative to verify the deposit came from me. However, they would only accept the phone number if there was an extension directly to the representative who could verify the deposit ( Option # 2 ). 

I then called XXXX customer service. They indicated that they did not have a phone number, specifically with an extension, to verify the deposit came from me. The XXXX representative also said they would never verify any information regarding my account without me also being on the phone call. The representative offered to participate in a 3-way conference call but the BofA folks would have to initiate the call. 

The XXXX representative then checked the deposits and indicated that the deposits did not go through the XXXX XXXX and that XXXX did not use XXXX and therefore could not respond to the BofA request for verification on that platform. The representative offered to provide me a secured letter with the transaction trace number for both transactions. I accepted the offer. I was able to print out the transaction letters, with the trace numbers that afternoon. 

On my way home from work I called BofA to further discuss their credit hold. I spoke to the first BofA consumer fraud representative. I got the same response giving me only Options # 1 & # 2. Not getting anywhere I asked to speak to a supervisor. I then explained the same problem. The supervisor and the initial representative reached out to the analyst handling my case. I explained that XXXX did not use XXXX  and that the transfer was initiated by me with the routing and account number. That I had transaction trace numbers for both transactions. I provided the trace numbers to the supervisor who said the numbers would be passed along to the analyst. I also gave the XXXX phone number and the first name " XXXX '' of the XXXX representative who provided the letters with trace numbers. XXXX did not provide her last name. 

Every day since I have called BofA in the morning and the evening to find out when the funds would be released. I was told various time frames for the analyst to complete the analysis and release my funds ( 3-5 days, 5-10 days ). I was finally able to verify the time frame was 3-5 days on Thursday ( XX/XX/ ). Given the XXXX XXXX the final day when the analyst would complete the analysis and release the funds would be today Tuesday ( XX/XX/2023 ). 

This morning ( XXXX  ) I called BofA and spoke to a representative who indicated that I now could provide them with the name of a local XXXX manager and the phone number they could speak to them and verify my deposit ( Option # 3 ). I told the representative that the XXXX branch and the BofA branch in XXXX were only 1,500 feet away and that I had suggested that the week before. My frustration mounting I asked to speak to a supervisor again. I went through the whole story once again. The supervisor said that those options were the only ones they would accept. I asked if she could assure me that if I arranged to meet with the XXXX branch manager and bring him to the BofA branch to verify my deposits, could she assure that would take care of their issue with my transfer into my BofA account. The supervisor said she could not. 

I then asked her how I could possibly get my funds back from them. She then suggested that I have XXXX cancel, or rescind, the transactions ( Option # 4 ). 

I called XXXX and they will process a dispute against BofA and attempt to rescind the transactions. However, this process will take 10 business days. Ugh!! 

My balance in the BofA account is {$4500.00}. So I went to a BofA branch to withdraw the {$25.00} that was not associated with the two ACH transactions. 

Holy XXXX!! I could not even withdraw my {$25.00}. 

I called the BofA consumer fraud representative and asked XXXX was going on. He indicated that any and all funds in my account have been placed on credit fraud hold. I told him that i have asked XXXX to rescind the ACH transactions. I then asked him if BofA would give me my {$25.00} back once XXXX rescinded the ACH transactions. He said yes they would. 

Frankly, and honestly, I don't believe a single thing BofA has told me.

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 explanation