Consumer complaint received 2018-10-06 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: WA

Complaint narrative:
On XX/XX/2018 I logged into my Bank of America app to find that three fraudulent cash withdrawals and one balance inquiry occurred on my checking account on XX/XX/2018 in Washington  DC. A total of {$4400.00} was fraudulently withdrawn from my checking account and the bank is now refusing to credit the amount stolen.

I immediately called the BOA Fraud and Claims department and reported the fraudulent activity. The representative told me there would be an investigation and that it could take up to 90 days to resolve. The bank immediately froze my checking and savings while the claim was being investigated. After my discussion with the Fraud and Claims representative, I opened a new checking account at BOA, filed reports with all 3 credit bureaus, purchased membership with XXXX and filed a police report.

Yesterday, some 70 days from my original claim, we received a letter from the Fraud & Claims indicating : AS A RESULT OF OUR RESEARCH, WE'VE DETERMINED THAT YOUR CLAIM WILL NOT BE HONORED BECAUSE YOUR DEBIT CARD AND PIN WERE USED DURING THE TRANSACTION.

We have serious concerns about the quality of the investigation that BOA conducted on our behalf and believe that the banks ultimate decision to deny my claim is unwarranted.

Over the course of the last 3 months I was able to learn that a fraudster went into 3 different branches in the Washington DC area, had a debit card and PIN and was able to withdraw large amounts of cash- {$1400.00} cash withdrawal XXXX XXXX XXXX {$1500.00} cash withdrawal XXXX XXXX   {$1400.00} cash withdrawal XXXX XXXX XXXX Balance inquiry XXXX XXXX.

What kind of investigation was really done?

Did anyone check cameras and verify who used the debit card?

How complete can an investigation be if we were never interviewed or asked for additional information?

o BOA never contacted me or my husband to ask us questions about the crime o We were never given the opportunity to complete an Affidavit Did anyone research our cash withdrawal habits?

o If they had, they would have noticed large/multiple cash withdrawals are completely inconsistent with our normal patterns of usage Did anyone determine our physical location on XX/XX/18?

o We were in the XX/XX/XXXX area on XX/XX/18 and have not been to the Wash DC area in over 5 years.

Did anyone check out our customer / employment history with the Bank?

o We have XXXX  accounts with Bank of America and have been clients for over XXXX years.

o I was a employee of XXXX XXXX XXXX for XXXX years I believe that Bank of America is responsible to protect its customers and the assets they hold at the Bank. What steps did the Bank take to protect me?

How did someone get out debit card?

o We did not lose our actual cards.

How did fraudster get our PIN?

Why was ID not asked for or required at 3 branches?

Arent there safeguards are in place to alert the bank or account holder of abnormal withdrawal patterns?

o One day -- -3 different banks, 3 large cash withdrawalswhy didnt any alarms go off at BANK OF AMERICA???

Throughout the investigation we have been cooperative and patient. We have taken all the steps the bank has asked of us and also taken further actions to protect ourselves from bank fraud going forward.

We believe that Bank of America failed to do a complete investigation and ultimately failed to protect us. We believe that there is no basis for our claim to be have denied and would like our {$4400.00} returned.

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