Consumer complaint received 2024-06-14
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (FL)

Below is a copy of a letter being issued to Bank of America, and similarly to XXXX. 
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - Dear XXXX XXXX, I hope this letter finds you well. I am writing to express my deep dissatisfaction and frustration with how my recent fraud claim has been handled by Bank of America. As a very small business owner, the way my case has been managed has caused significant distress and has taken valuable time away from focusing on growing my business. 

In XXXX, I noticed fraudulent transactions via XXXX on my business debit card ( -- XXXX ) totaling {$1600.00}. These transactions were all inconsistent with any prior history of purchases of these sorts via XXXX and all were conducted repetitively. Upon discovering these unauthorized charges, I promptly filed a fraud claim ( # XXXX ). To my dismay, my claim was denied without any detailed explanation, other than a statement that The charge was authorized by you or made by someone who has permission to use the card or account. This assertion is entirely false. 

* The debit card ( -- XXXX ) was never associated with my familys XXXX personal account nor an XXXX business account for " XXXX XXXX ''. As a result, XXXX could not trace the transactions, as they required a Transaction ID #, typically communicated between XXXX and financial institutions for approval of charges, which strangely was not available on my statements, nor in speaking with BofA representatives. 

Following the initial denial, I appealed the decision only to have my appeal denied as well while BofA provided the exact same statement as that from the initial denial above.. Again, this is entirely false. In my appeal, I also provided all available information from both BofA and XXXX, including bank statements and their requirement for Transaction ID # s.. Following the denial, I then requested to receive a copy of all documents used to make the decision, as suggested in the denial letter from BofA. However, I only received another copy of the same denial letter ( for a XXXX time ) without any supporting documents or evidence that led to the same conclusion that the charges were not fraudulent. Please refer to copies of these denial letters included in this mailing. 

I have spent numerous hours & days attempting to resolve this issue, exhausting time that should have been spent growing my business. In addition, I called several times to both BofA and XXXX, spending hours on hand on the phone in attempt to resolve the initial claim. On repeated occasions, I was sent in circles with various representatives and senior managers without clear resolution. Both BofA and XXXX are suggesting the other party provide more information and to file claims with them, however after several attempts this has not gained any ground. 

======= In XXXX at the time of the initial claim, my account was issued a new debit card ( -- XXXX ). On XXXX bank statement there have been XXXX more small fraudulent transactions discovered separate from the claims shared above. These small fraud transactions totaling $ XXXXwere reported in early XXXX to BofA and recognized as fraud, for which I am thankful. However, my initial claim for {$1600.00} remains unresolved. Meanwhile, it is noted the recent small fraud charges of {$2.00} are also from XXXX, the same vendor of which the initial fraud claims totaling {$1600.00} were made through. 

XXXX says the most recent business debit card ( -- XXXX ) I had was also being used on another authorized XXXX members account, from what they can see in their system. This referenced XXXX account is not linked to me personally, a family member, nor the " XXXX XXXX 's '' business. In my attempt to report this as fraud to XXXX, they do not recognize it as fraud, while advised I must have approved it to be used on another XXXX account. This is entirely false and NOT correct! Thus XXXX will not share any details of the XXXX account owner, nor the purchased items because the fraudulent account is not tied to my name, " XXXX XXXX '', or anyone in my household. 

This leads me to believe XXXX reason for denying my initial claim and the appeal stating The charge was authorized by you or made by someone who has permission to use the card or account.. was that of incorrect & insufficient feedback from XXXX and through the investigation. 

Despite my repeated requests for the case to be reopened and for more information on how the decision was made, I have been continuously told that my claim has been denied and the case is closed. As a small business, " XXXX XXXX '' can not absorb a {$1600.00} loss on fraudulent charges. 

The lack of transparency and the inadequate response to my requests for information are unacceptable. Given the impact on my business and the significant amount of money involved, I am requesting immediate attention to my claim, otherwise I will promptly get my attorney involved. Meanwhile in parallel, I am also reporting this with the Consumer Financial Protection Bureau. I believe full recovery of the {$1600.00} fraudulent charges should be approved. I need a thorough review and a clear explanation of how the decision was reached, along with any supporting documents. 

As a long-standing customer of Bank of America for over 30 years, I expect a higher standard of service and support, especially in critical matters such as fraud claims. I trust that you will understand the gravity of this situation and respond promptly to ensure fair resolution. 

Thank you for your time and attention to this matter. I look forward to your prompt response. 

Sincerely,