Consumer complaint received 2026-01-06 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY

Complaint narrative:
I am submitting this formal fraud complaint against Bank of America, located at XXXX XXXX XXXXXXXX XXXX XXXX  NY XXXX, regarding the improper handling of {$7000.00} from my savings account in connection with a Certificate of Deposit ( CD ), and the banks refusal to properly investigate the incident or provide surveillance evidence. 

On XX/XX/year>, I visited this branch to inquire about opening a Certificate of Deposit. At first, I was unsure whether I wanted to open the CD, so I deposited {$7000.00} into my savings account. Shortly afterward, I informed the teller that I had decided to proceed with opening the CD. The teller instructed me to speak with another bank employee, who began processing the CD.

During this interaction, I explained to the employee that I had just deposited {$7000.00} into my savings account and requested that the funds be transferred directly from my savings account into the CD. The employee told me that the CD could not be funded by internal transfer and that I was required to provide the funds in cash. 

The employee then instructed me to return to the teller and withdraw {$7000.00} in cash. I complied, withdrew the money from the teller, and immediately handed the full {$7000.00} in cash directly back to the same employee who was assisting me. At no time did I leave the bank with this cash, nor did I place it in my purse or take it into my possession outside the branch. 

In XX/XX/year>, I discovered that the {$7000.00} was missing from my account. When I reported this to the branch manager, I was told that I must have taken the money myself, and I was further informed that there is allegedly no surveillance footage from that day due to renovations taking place inside the branch. 

At this point, it became clear to me that the employee who handled my transaction told me that an internal transfer could not be done but in reality, the transfer was completed after I handed the cash back to him. Instead of informing me that the transfer had already been processed and that the cash was not needed, I was never given the {$7000.00} back. As a result, the system now reflects that the CD was funded, but I am still missing {$7000.00}. In effect, {$14000.00} was involved in the transaction ( {$7000.00} transferred internally and {$7000.00} taken in cash ), leaving me short {$7000.00}. Based on these circumstances, I believe I was the victim of a scam conducted inside the branch. 

I believe I was dismissed and not taken seriously throughout this process, and I feel I was treated as though I were confused or unreliable because I am an elderly person. My attached bank statements clearly support my account of events and confirm that this transaction occurred. 

This explanation is unacceptable, dismissive, and effectively accuses me of lying about my own funds. 

I returned to the bank again seeking assistance and a formal review. I was then told that too much time had passed to investigate. The bank has refused to provide surveillance footage, internal transaction documentation, or proof that a meaningful investigation was conducted. Given that the incident occurred entirely inside the branch and involved bank employees, surveillance and internal records should reasonably exist.

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