Consumer complaint received 2024-03-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
This regards my paycheck dated XX/XX/XXXX, amount of {$2500.00}. The paycheck was initially received and deposited to my Bank of America checking account on XX/XX/XXXX via mobile deposit in error. I immediately called Bank of America after I deposited the check and explained to the representative that I deposited it to that accoun tby error and amount to deposit it to my XXXX XXXX XXXX XXXX account. The representative told me that they would be able to take care of the reversal and that they could reverse the deposit once the check posts, advising me to call again when I see that the check has posted. Subsequently, I deposited the paycheck via mobile deposit to my XXXX XXXX XXXX XXXX account, when the debit adjustment was said to be done by Bank of America. On XX/XX/XXXX, XXXX XXXX XXXX XXXX rejected the deposit stating Returned Item XXXX XXXX XXXX to Maker. I did not notice that the check was rejected right away, but discovered that on XX/XX/XXXX, when reconciling my bank account. On XX/XX/XXXX, I then emailed and informed the payroll department of the issue and asked for a new check. However, the funds were not showing credited back to my companys XXXX XXXX account so they were not able to issue me a new check. I was advised to call both banks. I called the XXXX XXXX XXXX XXXX on XX/XX/XXXX, and the representative explained to me that it was a returned check due to the fact that it had already been deposited and had no funds. I then called Bank of America on XX/XX/XXXX, in which a representative explained to me that it takes 5-7 business days for the funds to go back to my companys bank account. The representative put me on hold to speak with his supervisor, which advised him it was actually 3-5 business days for the money to be returned and that my company should receive the funds no later than XX/XX/XXXX. I then followed up with XXXX ( XXXX XXXX XXXX XXXX XXXX ) regarding this, but he informed me that by XX/XX/XXXX, the funds were still not showing as returned. I waited a few days and called Bank of America back on Monday, XX/XX/XXXX and again explained what had been going on with this issue, which I was informed by the representative that the company should have received the funds by now and that they were returned. I informed XXXX that Bank of America said the funds had been returned, which he checked with XXXX XXXX also works for XXXX XXXX XXXX XXXX ) who also said she did not see a credit for that amount. After receiving the email conrmation from XXXX and XXXX that the funds were still not returned, I then called Bank of America back again on XX/XX/XXXX and spoke with a representative named XXXX. This gentleman said that since it was a live check, the funds were probably not returned to my companys bank account, but the funds stand with the check and advised me to redeposit the check if I still have it on hand. I did still have the check on hand and attempted to deposit it to Bank of America via Mobile Deposit, as advised by XXXX. Unfortunately, that did not work and the mobile deposit was rejected due to duplicate check deposit. I then called Bank of America back again and spoke with another representative named XXXX and explained again the situation to her. She suggested that the funds take about 15-30 days to completely go back to the companys bank account or the live check and to wait. I explained to her that this is my paycheck and I can not be delayed in having these funds available to myself, as I have bills that need to be paid immediately and that I have not had the {$2500.00} for over 2 weeks now. I asked her if it was 15-30 days in total or 15-30 business days, which she was unable to give me an answer for. I then asked to speak to her supervisor regarding this matter. She explained the situation to her supervisor while I was on hold, during the time which I called XXXX to put him on the call with the Bank of America supervisor. The Bank of America Supervisor, XXXX, joined back on the call and informed XXXX and myself that she did research and that the funds were returned. XXXX asked if XXXX if she could trace where the money went to and she told us she can not trace it. XXXX then told her that he had never heard of a bank not being able to trace where funds are sent, then she said the funds were sent back to an account ending in XXXX ( which is my company 's account ), however it was still not showing back to that XXXX XXXX account. XXXX, my XXXX XXXX  asked me to write a statement to XXXX, which is our XXXX XXXX so that they could conduct a search on the credit. As of today, XX/XX/XXXX, XXXX is still not showing the credit back from Bank of America and the accounting team at my company has still not shown any credit activity back to their account. It seems as if Bank of America is withholding my funds and I am unable to get anywhere with each representative I have spoken with, as every representative that I have spoken with has told me different information on each call.

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