Consumer complaint received 2024-07-31 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
Bank of America I have long suspected that the balance in my Bank of America account was not accurate. I suspect that Bank of America also deducts transactions more than once. Most recently, I called the customer service number for Bank of America and was told by the automated system that approximately {$2000.00} or so was in the account. Shortly thereafter, the account only had {$1000.00} or so as reflected on the Bank of America mobile app when the automated system stated {$2000.00} something a few moments previously.

I make deposits by expected transaction. Meaning that I transfer money from an external bank account according to the transaction that I plan to make before making the transaction ( s ). This means that I transfer money to cover the transactions in an attempt to avoid the types of issues that had been occurring. Recently, I did similarly and had deposited almost {$700.00} or so for expected transactions. Shortly thereafter, when I went to make the transactions, the money was not there. I called the Bank of America Customer Service Phone number to inquire about the location of the money in my account but was told that the account was accurate. I indicated that I wanted my money but did not receive it. This has happened on a few occasions where I use XXXX to send money from my XXXX XXXX account to my Bank of America account and then find that the available balance and amounts do not align with the money sent. When I have inquired as to where the money is, I am always told that the balance is accurate but I know that not to be the case. 


Actions to Date : *Calls to Bank of America Customer Service Phone Representatives and Supervisors Desired Outcomes : 1. Return of any and all other money owed to me as a result of handling and/or mishandling of my money by XXXX XXXXXXXX XXXX internal and/or contracted employees, and/or as a result of breach of my personal data by XXXXXXXX XXXX XXXX  and/or its affiliated data sources .

2. Additional protocols and practices by federal agencies and banks to help avoid financial improprieties ( breach of data by banks, their employees and/or affiliates 3. Higher level background checks ( financial/credit checks, fingerprinting, and criminal ) for all bank employees ( internal and contacted ) 4. Advanced internal systems and checks and balances that will prevent bank employees and affiliates from skimming as well as from having direct access to customer funds at the onset of a transaction, during or after the transaction of a bank customer 5. Advanced internal systems and checks and balances that will prevent bank employees and affiliates and/or digital mechanisms that will alert multiple appropriate bank internal departments of suspicious and/or illegal activities 6. Advanced internal systems and checks and balances that will prevent banks from being able to intentionally deduct transactions more than one time 7. Enact policy that will prevent XXXX banks from using/contracting call centers from outside of the US to handle US financial transactions which may provide a window of opportunity for breaks in proper oversight of and responses to actions XXXX. Enact policy that limits employees from accessing customer data from remote sources and require that all conversations and transactions must be from BoA and/or the respective bank devices and internal tracking and auditing features be generated and monitored frequently.

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