Consumer complaint received 2025-08-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ

Complaint narrative:
b'To Whom It May Concern,\nI am filing a formal complaint against Bank of America regarding a series of serious failures in handling my business account and personal account, including breaches in fraud protection protocols, unauthorized access, and mishandling of a requested wire transfer.\nMain Complaint: Denial of Authorized Wire Transfer Despite Fraud Protection Being Removed THEN NOT protecting my money against Fraud.\nOn XXXX, I attempted to initiate a wire transfer of XXXX  from my business account that had XXXX  in it XXXX ( see full number below)funds I intended to move to my companys credit line. I was informed that the account had a fraud protection hold, which would need to be lifted in order to process the wire. Bank of America assured me that this fraud block would be removed. However, despite their assurances, they failed to process the wire, even after the hold was supposedly lifted.\nI was sitting with the Bank of America (B of A) Bank Manager ( BM) with Bank of America on the phone to process this Transaction. The B of A BM total me, I received a green confirmation approval for wire ( a green flash across my screen on my computer that said Approval) and a confirmation number flash so quickly it was impossible to write down ( later they said if I didnt have I was XXXX of Luck) and She was on the phone with B of A person who gave me a number but it was an XXXX for fraud protection instead of giving me approval it happened in a flash so I new we got approval and I left shortly after.  The wire was confirmed at that moment to pay down my Credit line from XXXX and to also protect my account from someone stealing my money. I checked daily for days waiting for the wire, Wed, Thurs Fri, Sat, Sun no wire, on monday or Tueday the next week (4-5) business days still no wire. Back to Back ( 7 total visits adn 14 phone discussion) I ask the B of A BM if I could record what happened, The phone support is extremely confusing and purposely frustrating to get help. THE WIRE NEVER WENT THROUGH & NO). The B of A BM Confirmed 100% that wire was approved it never happened.\nThis failure directly contributed to substantial financial damage, and worse, it left the account vulnerable to unauthorized withdrawals.\nBecause the Fraud protecting was not reapplied because we removed for the wire this Gave XXXX  ( ex now as I filed for petition) took XXXX  in two transactions XXXX  each, out of my bank account.  We know I was confirmed for wire ( voice recording with B of A BM) but also because that was the only reason to remove the fraud protection\n\nSub-Complaint #1: Unauthorized Withdrawals by Recently Added Signer (My Spouse)\nI had been a Bank of America business customer since XXXX. In Late XXXX  early XXXX XXXX was added as a Signer, I removed my departing business partner as a signer and, unfortunately, added my spouse as a signer temporarilya decision I now deeply regret. Only 10 days after she was added, she began withdrawing funds from the business account without my knowledge or consent.\n\nTheir Solution was to close all accounts that I have had for 19 Years immediately.  I just added her.  And open new accounts.  They instructed me to contact the thief and have her come in which I did and she did not come in so she could keep taking money.\nOver the course of 2.5 weeks, she withdrew XXXX, directly depleting Personal and company funds meant for operating expenses and debt management. I contacted the bank immediately, reporting the situation as unauthorized, and requested support in freezing further activity. They did nothing.  We Boorrowed the money and she stole it so I could not repay the debt.\n\nSub-Complaint #2: Bank Failed to Flag or Prevent Unusual Activity\nBank of America has routinely advertised robust fraud protection on business accounts. Despite this, they allowed a newly added signer to transfer large sumsmultiple times over a short windowwithout alerting me or taking precautionary action, even though I was the primary and long-standing account holder.\nThis kind of activity should have raised internal alerts. At the very least, I expected a courtesy call. I received neither.\n\nSub-Complaint #3: Lack of Timely Support and Inconsistent Information\nWhen I attempted to resolve this situation in person and by phone, I was passed around between departments, told conflicting stories, and in some cases, treated dismissively. No one took ownership of the problem. No action was taken to freeze the account until after substantial funds had already been withdrawn.\n\nConclusion\nI believe Bank of America failed in its duty to protect my business account, enforce its own fraud protocols, and act upon multiple red flags regarding unauthorized withdrawals. \nI am requesting:\n\nA formal investigation into their wire transfer denial and fraud protocol breaches.  \n\n\nReimbursement of the unauthorized XXXX in withdrawals.\n\n\nConfirmation that this complaint will be reviewed by appropriate regulatory personnel.\n\n\nI am preparing additional documentation, including transaction logs, call records, and written correspondence to support this claim.\n\nSincerely,\XXXX XXXX XXXX

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