Consumer complaint received 2017-02-23
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Bank account or service
Sub-product: Checking account
Issue: Problems caused by my funds being low

Complaint:
Checking account # XXXX This is with old account I had and change the account to a new account. This account was no longer active. However, a few days agao my son transfer money from his account to my account. Not knowing, the account was old and inactive account. However, Bank Of America, still allow the transaction to go and took the money to pay over draft fees. My son was not aware this was a inactive account, and sent money in there. To pay a bill on his behalf. When I went to look for the money he transfer me, this is when I learn, the money was transfer to the wrong account. If this account was no longer active, how could bank of america except the money? Then take money to pay off fees, I was not aware about any fees. Because I never receive a letter. How was fees still being charge, if the account was no longer active. It looks like BOA was charing me overdraft fees. on account that was no longer active. Because I open a new cheacking account, due to fraud on this old accout. I feel BOA looks for everyway to rip off custmers to collect fees unfairly. Please read what happens with the fees, they charge on letter below that explains everything. 

Now on this account that I had in the past. I and my wife sign up for overdraft protection with Bank of America awhile back.My account is link to online backing and mobile, to receive alerts for our account. However, when account goes low it does show up right away. The amount I see available at that time does not reflect to what I really have. It takes 24 hours, or even longer on the weekends for the real amount to show. So I am unaware of the true balance of my account due to the delays. If this a weekend, I will not know my true available funds until late Monday. By that time I was charge multiple overdraft fees. Bank of American also holds on to transaction for few days, before you see it as a alert. So the balance is never accurate at time you are reviewing your account, it takes days for it to reflect. Even if you call them, the bank will say to have but so much in the account however, it not true. Due to the fact they did not account for all transactions going on. 

Its allow me to take money out I do not have and/or allow transactions to be process, charging overdraft without me knowing the real balance and charging me overdraft fees. Bank of America unfairly assessed and collected. I was charge overdraft fees on debit card transactions, because Bank of America allow the transaction to be process, instead of declining the transaction due to not enought funds in the account. Furthermore, for example, weeks ago Bank of America allow me to withdraw money from my account, knowing I did not have the funds in the account and then turn around and charge me overdraft fees. They authorized and approved when there was insufficient funds available. How can the approve that when the funds are not there to cover the cost. It appears its the banks way in making money. I should be getting alerts on my phone to let me know when my balance is low and no funds available. However, I never receive those alerts on my cell. BOA fails to reject debit card purchases if there is n't enough money in my account. Then later on I am stuck overdraft charges. Without the alerts. I am unaware of what is going on with my account. When I learn something is wrong it 's too late, BOA charge me overdraft fees in the hundreds per month. I do not know about the overdraft fees until I receive a post card in the mail letting me know. By that time its too late to do anything about it.

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