Consumer complaint received 2021-07-29
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:
We are a small certified XXXX-owned /woman owned business based on XXXX XXXX , NY . We opened all of our business accounts with bank of america. Before the pandemic we had relationships with bankers at the locations near us. Before the pandemic we hardly ever had any insufficient funds fees. We would deposit ALL of our hard earned money to increase our balances to increase our chances for a business loan in the future. During the pandemic our balances have dropped as most businesses we were forced to close our doors. 

We have been fortunate enough to keep our business open but Bank of america has absolutely NOT assisted us in any disputes or issues we have had with our accounts during the pandemic. Our accounts have not only incurred heavy and frequent overdraft fees making it impossible for us to even attempt to balance our accounts and make it through this pandemic!! We have had to make appointments to meet with a banker to address issues we have had with FRAUD on our accounts, to address excessive overdraft fees. We are being charged multiple {$35.00} fees for insufficient funds and overdrafts on a single transaction causing repeated attempts by Bank of America to process transactions. 

There has been multiple overdraft fees on the same transaction that was posted to our account incorrectly by companies like XXXX and XXXX. We have called and tried to explain what was occurring only to put in a claim that can take up to 90 days to investigate by Bank of America. 
There has been multiple overdraft fees on authorization holds from companies that have eventually dropped off but we were still charged multiple overdraft fees!!! 
My husband XXXX XXXX has a personal account that he was paying on a vacation club ( XXXX ) that he paid money on for months until we got an email saying the company was FRAUDULENT and Bank of America refuses to help us dispute or credit us even though we have email proof that the company is fraudulent due to the time has passed to dispute according to bank of america. WE DID NOT KNOW THE COMPANY WAS FRAUDULENT DURING THE MONTHS WE WERE PAYING THEM!!! HOW CAN THERE BE A TIME LIMIT ON DISPUTES IF THIS WAS AN ONGOING PAYMENT!!! 
Anytime we see our account fall negative we do not even have an opportunity to let the processing happen for the day and put the money in our accounts to cover the balance. The next morning we are constantly hit with 4-6 overdraft fees that we can not recover from!! WE WERE CHARGED A {$35.00} FEE ON A {$1.00} CHARGE!!! THIS IS THEFT AND DECEITFUL TO AMERICANS AND SMALL BUSINESS OWNERS!!! 

We put our trust and faith in Bank of America to keep OUR MONEY in your bank to not only have our money stolen by other merchants with no assistance from our bank but to have our hard earned money taken by our bank via excessive overdraft fees!!!!!!!!!!! This continuous excessive fees leaving us as small business owners in distress during a pandemic. We are afraid to leave any money in our accounts! 

During a PANDEMIC!!! WE ARE NOT ENROLLED IN OVERDRAFT PROTECTION SO WHY ARE BEING CHARGED CONTINUOUS OVERDRAFT FEES!! 

THIS OCCURANCE OF EXCESSIVE OVERDRAFT FEES SEEM TO NOW OCCUR THAT WE ARE IN A PANDEMIC AND DOES NOT HELP HARDWORKING AMERICANS AND SMALL BUSINESS STAY OPEN!!! I DONT KNOW IF THIS IS BECAUSE WE ARE A SMALL XXXX WOMAN OWNED BUSINESS THAT WE CAN NOT AFFORD TO SUE LIKE OTHERS ARE NOW CURRENTLY DOING!! THIS IS DECIETFUL! AND ABUSIVE!! 

BANK OF AMERICA TAKES HALF OF MY UNEMPLOYMENT CHECK EVERY SINGLE WEEK IN OVERDRAFT FEES!!!! I RELY SOLELY ONMY UNEMPLOYMENT TO EVEN TRY TO KEEP OUR SMALL BUSINESS OPEN!! 

WE FEEL AS THOUGH BANK OF AMERICA IS VIOLATION BASIC RIGHTS AND NATIONAL BANK ACT! 

I HAVE BANK OF AMERICA REPRESENTATIVES RECORDED AGREEING AND SAYING IT IS THE WAY YOU PROCESS THE FEES THAT MAKE YOUR ACCOUNT NEGATIVE AND IN TURN INCURS MORE OVERDRAFT FEES!!!! 

THIS IS SHAMEFUL TO THE AMERICAN PEOPLE DURING AN PANDEMIC. WE HAVE WATCHED FAMILY AND FRIENDS DIE DUE TO CORONA! OUR SMALL BUSINESS HASNT CLOSED YET DUE TO THE PANDEMIC BUT WE WILL BE FORCED TO CLOSE DUE TO BANK OF AMERICA STEALING MONEY FROM US EVERY SINGLE WEEK!!!!!! EVERY MONTH BANK OF AMERICA TAKE ALMOST XXXX  FROM OUR ACCOUNTS IN FEES!!!! DURING A PANDEMIC!!!!!!

WE UNDERSTAND THAT OVERDRAFT FEES ARE TO DISCOURAGE CONTINUED OVERDRAFT ACTIVITY OR SPENDING IF THE FUNDS ARE NOT AVAILABLE BUT AS A BUSINESS OWNER SOMETIMES I DONT CHECK BYT THE END OF A HECTIC DAY IM EXHAUSTED TO THE NEXT MORNING SEEING MULTIPLE OVERDRAFT FEES. 

This needs to change and be rectified because the american people and small business can not survive or thrive with these fees and your banking practices!

Company response to consumer: Closed with monetary relief