Consumer complaint received 2025-12-01 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
opened this XXXX investment account with BOA back in XXXX and purchased several stocks. XXXXXXXX XXXX XXXXXXXX and BOA group were the two I purchased and I have never seen any dividend post on my account ever since the beginning. I didn't know and I sold these two stocks back on XX/XX/XXXXXXXX XXXX XXXX XXXXXXXX. 

But, on XX/XX/XXXX. I accidentally discovered this unauthorized transaction of - {$580.00} out from my XXXX cash balance. Immediately I called the investment company and they transferred me to the bank fraud department. Staff from the department told me someone was using my ID and opened this bank checking account ( XXXX ) back in XXXX. XXXX this year. In addition there was a credit card account opened on XX/XX/XXXX. number ending XXXX. 

The criminal used checking account overdraft protection and took money out from my XXXX cash balance. There were a total XXXX similar transactions, with a total of {$8800.00}. Claim number : XXXX. the staff said I will get my money back within 24-48 hours. Those monies were my citi group and BOA group dividends issued each month which I have never seen...

But, as the case opened, I submitted some address proof, ID, SS # and some other additional bank accounts and credit cards account opened requests from several other banks. 

On XX/XX/XXXX, my account got credit back of {$1200.00}. saying they are still doing an investigation and told me no need to do anything. And, they will pay me any applicable interest incurred. 

Until XX/XX/XXXX, I went online and checked my account activity again. There were some additional ATM withdrawal transactions almost each month since XX/XX/XXXX of XXXX total XXXX withdrawal transactions, together total of {$10000.00}. So, the bank told me the total {$8800.00} was the wrong number. They didn't do their due diligence to trace all my losses since the beginning. And, the online activity can only show a certain period of time. I am very positive there are more transactions than what is showing there. 

My XXXX cash balance shouldn't be withdrawn from ATM machines so easily. Also, I had worked in the same bank for a short period of time back in XXXX, up on the separation, they imposed a restriction for me to open a checking account with them and forced me to close my existing checking account even though I have another credit card account and this XXXX account. It wasn't convenient for me at all. But, the criminal can bypass the restriction and use my ID and open a checking and credit card account. He or she knows when the dividends are issued and taken away the same day or within a few days, before account owners see them. Also, this person knows how to steal customers ' money using different bank products and juggling around... I presumed he or she was from the bank and I might not be the only XXXX who suffered this kind of loss. This is circumstantial evidence, which indicates internal criminal conduct. 

Banks were supposed to serve as the trusting financial entities for people to put money in and keep them safe. I had never expected these things to happen. I trusted them who would help keep my money safe without worry. But, it turns out horrible things are happening behind. 

I will need the bank to trace all my previous dividends issued from the incurred date. And, we need some upper authority who can oversee the bank conducts.

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