Consumer complaint received 2023-05-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OR
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XX/XX/2023, I made an online transfer to another person with BOA account in the amount of {$1500.00}. Even though the fund was taken out of my account by BOA and reconciled, as shown on the monthly bank statement, the intended recipient has informed me that he never received the funds as BOA alleged was transferred. On XX/XX/2023, I filed a claim with the bank. On XX/XX/2023, I received an email stating that they have denied the claim because " The transfer posted to the account I requested ''. On XX/XX/2023, I contacted BOA and stated that the blank statement received, the transfer posted to the account requested, didnt answer nor address the issue I was told to receive after the investigation. Therefore, I need detailed info that indicate the fund was indeed transferred to the intended recipient who happens to be another BOA account holder whose account info has already been stored as a recipient in my bank account and this same account has been used before. I spoke with a supervisor, XXXX, to no avail. I called back again & spoke with another XXXX  ; XXXX & he assured me he will put a request for detailed transaction info & I should receive it no later than the following Monday. When I contacted BOA on XX/XX/2023, I was told that because it is an online transaction, I need to call BOA XXXX XXXX XXXX I then called XXXX XXXX XXXX. & spoke with a XXXX  XXXX from XXXX XXXX told her that I am waiting for detailed info I requested. She told me to give it few more business days & also said it XXXX take up to 45 days. On XX/XX/2023 I spoke with XXXX & was told to wait & since it is an online transaction it XXXX take up to 90 days. On XX/XX/2023, I received an email from BOA not with the info I requested & waiting for the bank told me I would but with the same blanket statement I received as the first XXXX, " The transfer posted to the account requested ''. Once again, there is no relevant info to back up the alleged bank transfer. Yes, my bank statement shows the {$1500.00} was deducted and reconciled as if it was transferred as requested. Unfortunately, the intended recipient has insisted he never received the funds. So, the question is where did the money go? The issue was reported to the bank in a timely manner and should have been properly addressed and resolved accordingly. I was hoping for the bank to resolve the issue ASAP. Unfortunately, BOA has no intention in doing so. The bank chose to disregard my concern and gave me a deaf ear. When nothing else works, I decided to file a complaint with XXXX. After nearly a month the complaint was filed, I received another email from BOA with same response and blank statement the fund transfer posted to the account requested. To add insult to injury, instead of providing me the information I requested and was told I would to confirm the transfer to the intended recipient, the bank sent me a copy of my own bank statement as a supporting document. My own monthly bank statement is readily accessible online and never requested it either. I am very disappointed with the way the bank is handling the issue and felt helpless when all my effort to resolve the issue so far has been to no avail. All I am asking the bank is if my intended recipient has told me he never received the transferred fund, what happened to the alleged transferred fund? I believe, as a bank customer, I have a right to either get reimbursed, when the bank failed to transfer and deposit the fund requested to intended recipient, if not, at least provide me with documentation to confirm the transfer given intended recipients claims that he never received it. Ever since I initially filed a claim with or reported the issue to BOA, back in XX/XX/2023, every response I received has failed to address the issue at hand, where is the {$1500.00} taken out of my account by BOA alleging transfer posted to account requested when intended recipient, another BOA account, claimed that he never received the money? Issuing blanket statement time and time again is not the way to address what has been requested for which a claim and a complaint filed but a distraction and disregard to customers like myself

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