Consumer complaint received 2018-07-01
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
On XX/XX/XXXX, I made a mobile check deposit in the amount of XXXX into my checking account. On XX/XX/XXXX, a hold was placed in the amount of XXXX on my deposit. This has happened to me multiple times and I have had to call multiple times to have the hold released. As a point of clarification : -The deposit is a personal check from my credit union which I have been depositing into this account for a number of years -I have never ( until now ) received any kind of NSF/overdraft fee in this acount -I have had a relationship with BofA for over 15 years -I have deposited multiple checks around the same dollar amount from the same account for over a year now On XX/XX/XXXX, I contacted XXXX and requested to have the hold released. XXXX attempted to redirect the conversation and advise me that he would be unable to release the hold and that the funds would be available on XXXX. I asked to speak to a supervisor. Instead of allowing me to speak to them, he put me on hold for approximately 10 minutes and advised me that they were able to credit me the XXXX. I was satisfied that my money was available and made my payments to my BofA credit cards as I normally do. 

Today ( XXXX ) I went onto my online banking and noticed that my account had been assessed an NSF fee due to my credit card payments and the XXXX credit which was provided had been reversed. I spoke with a rep who reversed the NSF fee ( as a courtesy instead of a bank error ) and then advised me that it was not a bank error and was in fact my fault that I was charged the fee. I came to discover that XXXX and his supervisor instead of releasing the hold gave me a temporary credit of XXXX which apparently was set to expire at the end of that or prior to when the hold was to release the funds. 

I generally prefer not to be unprofessional, but providing the credit was probably one of the most ridiculous things that they could have done considering all it did was provide me the false impression that I could actually use those funds rather than them simply pushing back and telling me that the funds wouldn't be available. I feel as though they are discriminating against my relationship as I regularly make deposits between 800-1400 dollars and their system algorithms " spin the wheel '' to see if I have to call and put up a fuss. 

I have been provided solutions with options regarding electronic transfers, but the Reg CC eliminated U.S. drawn non-local checks and I would prefer to have my funds available the next business day versus the potential 3 business day turnaround for a clearing house. Additionally, I have asked for a research request begging them not to send me disclosures, and provided feedback telling BofA not to call me if they were going to quote their " we reserve the right to hold a deposit for any reason '' policies, but I ended up getting disclosures, and receiving a phone call advising me that they would be happy to send me disclosures ( and they checked and discovered they were already on the way ). 

I am at wits end with this process. I don't want more disclosures from BofA telling me " we hold your money because we can ''. I certainly do not want the blame for this matter to be placed on me as it was the lack of forethought of XXXX and his escalation contact that caused me to be in this situation. I really would rather not exit my relationship with BofA, but if this doesn't get resolved this time, I am moving on.

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