Consumer complaint received 2024-07-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA

Complaint narrative:
On XX/XX/2024 a call came in to our phone from Bank Of Americas phone number ( XXXX ) a person claiming to be a customer service representative asked us to verify some XXXX transactions we had made through Bank of America 's mobile banking app. We verified a few that we had made, then were asked about a {$2500.00} transaction. Which was {$200.00} dollars less than our total balance in the account in question. Naturally we were panicked, we explained we did NOT make that transfer. They then asked us to verify security codes to our phone to ensure our protection. We doubled check the phone number and it was the same as on the back of our ATM cards. We had no reason to believe this was a scam. They had all our information and verified all my account information as the scammers had compromised Bank Of America, otherwise how would they have had all my bank account information. We quickly this was fraudulent but not until our money was already gone. We went into the branch first thing the next day and closed all our accounts and transferred all the money we had into a CD for protection. The claim was filed by a BOA associate by phone earlier that same morning and that associate filed the claim as fraud. We never heard back regarding our claim and followed up about XXXX weeks later only to learn that the claim had to be re-filed as a " SCAM ''. They explained the only way we would get our money back is if they recovered the funds. This is now XXXX weeks after the initial transfer that was made. At this point we knew because they initially filed incorrectly that the chance of recovering funds were slim. Of course they then denied the claim. Again I only found that out from my follow up call around beginning of XXXX. They then filed again for a reconsideration. That was also denied. I then filed a complaint with CFPBXXXX XXXX, and Federal Reserve XXXX help. Once BOA received my complaints I immediately received a call from XXXX XXXX ( XXXX and she explained she would re-submit my claim. Today on XX/XX/2024 at XXXX XXXX. I received another call from Bank of Americas claim 's department XXXX. Luckily I was driving and could not answer. Once I got home, I called the number back and the representative explained that the bank did not call me, yet the number when I called back went directly to the claims department. This is EXACTLY what happened the first time when we were victims of the {$2500.00} withdrawal. I don't understand how an institution that is supposed to protect their consumers can take no responsibility for scammers using their secured lines and getting access to all my information to have my checking account emptied!!! I have been a client for 14 years and this has been the worst experience ever. I would not have been exposed to XXXX had it not been for Bank Of America XXXX app.

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