Consumer complaint received 2022-10-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA

Complaint narrative:
Please honor the promotion terms at the time of my application on XX/XX/2022 where XXXX language was NOT there. I opened a new bank of america business checking account on XX/XX/2022 using promotion code XXXX ( auto populated by bank of america website ). I made several deposits in new money totaling {$20000.00} to the checking account by XX/XX/2022 ( within 31 days after account opening ), and maintained {$20000.00} till XX/XX/2022 ( XXXX calendar days after account opening ). However, I haven't received the {$500.00} bonus as of XX/XX/2022. I am a new bank of america small business customer. I have never had a Bank of America Business Advantage Banking account before. I have maintained {$20000.00} during the maintenance period specified by the offer term. I attached screenshots to show I applied the promotion code and terms of this bonus " at the time of my application '' for your reference. You can also find a cached promotion webpage on XX/XX/2022 here https : //web.archive.org/web/20220517162353/https : //promotions.bankofamerica.com/smallbusiness/sboffer500 Note that the promotion term was changed on XX/XX/2022 where this sentence was added " This offer is only available to business owners who receive this offer via a direct communication from a Bank of America Specialist or from a Bank of America communication XXXX XXXX see the promotion webpage snapshot on XX/XX/2022 here https : //web.archive.org/web/20220609200158/https : //promotions.bankofamerica.com/smallbusiness/sboffer500 However, this sentence was NOT there at the time of my application! Offer terms at the time of my application are as follows. You can also find a cached promotion webpage here https : //web.archive.org/web/20220517162353/https : //promotions.bankofamerica.com/smallbusiness/sboffer500 Earn a cash bonus in three steps : Open a new business checking account by XX/XX/2022 Make Qualifying Deposits* of {$20000.00} or more in new money within 30 days of opening the new business checking account Maintain an average balance of {$20000.00} for next 60 days ( day XXXX ) during the maintenance period** *Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill. **The maintenance period begins thirty-one ( 31 ) days after account opening and ends ninety ( 90 ) calendar days after account opening. 1 This offer is intended for new customers only ; you are not eligible for this offer if you were an owner or signer on a Bank of America Business Advantage Banking account within the last twelve ( 12 ) months. Only one bonus ( {$500.00} ) per business customer, regardless of the number of businesses owned or operated by the customer. Requirements to Receive a Business Advantage Banking Bonus of {$500.00} : Open a new Business Advantage Relationship Banking or Business Advantage Fundamentals Banking account by XX/XX/2022 : AND Make Qualifying Deposits of {$20000.00} or more in new money* into your new Business Advantage Banking account within thirty ( 30 ) days of account opening ; AND Maintain an average balance of {$20000.00} during the Maintenance Period** into the new Business Advantage Banking account . *New money is new funds deposited into your Business Advantage Banking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts. A transfer done via ATM, online or teller, or a transfer from a Bank of America deposit account or brokerage account, such as a Merrill account, is not considered new money. A cash withdrawal from an existing Bank of America account and deposited into the new Business Advantage Banking account is not considered new money. **The Maintenance Period begins thirty-one ( 31 ) calendar days after account opening and ends ninety ( 90 ) calendar days after account opening.

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 monetary relief