Consumer complaint received 2025-12-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Late or other fees
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
I am writing to formally file a complaint against Bank of America regarding improper assessment of wire transfer and monthly maintenance fees, failure to provide required disclosures, and unfair treatment of a long-standing high-net-worth client. 
I have been a Bank of America customer since XXXX. Over the years, I have maintained significant balances with the bank, including deposits exceeding {$100000.00} in Certificates of Deposit. My account is designated as a Preferred account, and I was explicitly informed by my local Bank of America branch that, as a Preferred client, I would not be charged incoming wire transfer fees or monthly maintenance fees. 
In XXXX, I underwent major XXXX and was placed on XXXX XXXX XXXX for approximately six months. During this period, without my knowledge or consent, Bank of America assessed more than 24 incoming wire transfer fees to my account, totalling approximately {$400.00} {$500.00}, in addition to monthly maintenance fees. 
At no point did I receive any written notice, email, phone call, or other communication informing me that my account had lost its Preferred status or that these benefits were no longer applicable. Even today, my debit card still reflects Preferred status. If my account had in fact been downgraded, Bank of America failed to : Provide advance notice of the change, Explain the loss of benefits, Issue a replacement debit card reflecting the new account status. 
The continued display of Preferred status on my debit card further demonstrates that I was never properly notified of any account change. 
Upon discovering these charges, I contacted Bank of America and filed a complaint last week. I was informed that the matter would be reviewed. However, today I received the outcome of that review, which denied all requests to reverse the improperly charged wire transfer fees and monthly fees. This decision was issued without any supporting explanation and without acknowledgment of the banks failure to notify me of the alleged account status change. 
I believe Bank of Americas actions constitute : Unfair and deceptive practices, Failure to provide required disclosures, Improper fee assessment, Poor handling of a customer complaint despite clear mitigating circumstances, including a documented medical condition. 
While the disputed amount itself is relatively modest, the principle and treatment are deeply concerning especially given my long-standing relationship with the bank and my intent to maintain substantially higher balances in the future. This experience has caused a complete loss of trust in Bank of America. 
I respectfully request that the CFPB review this matter and assist in : Reversing all improperly charged incoming wire transfer fees, Reversing all improperly charged monthly maintenance fees, Investigating Bank of Americas failure to notify customers of account status changes and loss of benefits. 
Thank you for your time and attention to this matter.

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