Consumer complaint received 2024-10-10 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AZ

Complaint narrative:
On XX/XX/XXXX my online banking with Bank of America was compromised by someone indicating they were from the BofA XXXX Department. I immediately contacted the BofA known customer service number on the back of my debit card to report the phone call I received and the transfers I was notified that were being made from my account. I was immediately transferred to the XXXX Department. BofA 's claim number is XXXX. In the meantime, I was receiving calls from what I was able to confirm was the BofA XXXX Department. The fraud was caught and both my checking and savings accounts were immediately marked as restricted. The XXXX Department told me in order to open new accounts and obtain a new debit card I would have to go into a banking center with XXXX forms of ID. I did so on XX/XX/XXXX. I confirmed my " old '' accounts were frozen or restricted and opened new accounts, ordered a new debit card and changed my online banking while at the banking center in XXXX, AZ. I was also provided a printout of my account at that time and it was pointed out that the fraud was caught because all of the XXXX separate transfers from my account were showing as " pending credits '' back to my account. I was told those credits would no longer be pending on XX/XX/XXXX and at that time I could call the XXXX Department to request they transfer my funds ( totalling {$5400.00} ) to my newly opened accounts. On the morning of XX/XX/XXXX I logged into my online banking with my new username and password only to find out that all of the " pending credits '' were then " force-debited '' back out again. I immediately contacted the XXXX Department again and was told that their system force-debited those transfers and that they would further investigate my fraud claim. I was told that if my complaint was not resolved within XXXX business days, BofA would provide me with a temporary credit of my funds pending further investigation. I received a denial letter from BofA on XXXX ( XXXX business days later ) so BofA would not provide any temporary credit after my bank accounts at BofA were literally cleaned out. According to the denial letter I received BofA 's " investigation found that the transfer ( XXXX ) in question was made to an account that provided a benefit to a valid signer on the account ; in this case, the funds were made available to you for personal use, of for use to pay an obligation owed by you, or both ''. Needless to say, I was very, very upset and immediately contacted the XXXX Department again. At that time it was confirmed that my funds were transferred to an account at XXXX XXXX XXXX XXXX and was provided the account number at XXXX XXXX and was told I should contact XXXX XXXX directly since BofA was basing their decision on information they received from XXXX XXXX. I contacted XXXX XXXX that same day and they confirmed that no account was opened under my name or social security number. They also confirmed that the account number which BofA provided to me was a valid account at XXXX XXXX but it was not in my name so they could not provide any further information to me. XXXX XXXX did confirm they could provide a written letter to me acknowleding the subject account was not mine and nor did I have access to that account. I still have not received that letter. In the meatime, BofA reopened my fraud claim on XXXX, but again denied that claim for the same reasons on XXXX at which time I contacted the XXXX Department once again. The woman I spoke with that day in the XXXX Department ( XXXX XXXX XXXX, I believe, from XXXX  ) spoke to me as if I was the criminal and that BofA could prove it was IP address that was used to make the transfers ( something no one in Fraud ever mentioned before ). Upon asking for the written documentation they relied upon in coming to their decision ( as mentioned in both denial letters I received ) I was told that I needed to provide BofA with a Court Order. She also told me that I would need to provide proof to BofA that I did not cause those XXXX transfers to be made. I have asked to speak to a XXXX or supervisor or even the analyst that denied my claim in every phone call so that someone else could review and investigate my claim more fairly. I was told every time that was no possible. I went back to the XXXX banking XXXX on XXXX to request assistance in communicating with someone other than the XXXX Department to make a complaint with how this investigation was handled and was told that I could call the Customer Service number for BofA and let them know I wanted to file a complaint and that branch would follow through with filing a formal complaint as well which would go directly to Executives at BofA. My phone call turned into another conversation with BofA 's XXXX Department. I understand that all calls to the XXXX Department are recorded and it is difficult for me to believe that any analyst from the XXXX Department could make the decision they have made... XXXX. The fraud was caught by not only me, but by BofA and credited the funds back to my accounts ( although pendint ), and the XXXX Department confirmed it was BofA 's system that force-debited the funds back out of my account. This is extremely frustrating and has now been ongoing for almost XXXX month. I have been a loyal customer of BofA for XXXX  years and feel that I have not been treated fairly by BofA 's XXXX Department, XXXX have been told I need to do my own investigation in order prove that I did not create the fraud myself.

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