Consumer complaint received 2021-11-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NM

Complaint narrative:
On XX/XX/2021 I attempted to transfer {$500.00} from my Bank of America Account to myself via XXXX. I was using the Mobile APP on my phone. I selected Myself form the mobile app for the funds to be sent to myself. The account that I selected has my name and mobile number on it. After I selected the account for the {$500.00} to be transferred to myself, I received no confirmation of my transfer and I waited. I then went back to my bank account via the mobile app and noticed that the phone number on the XXXX account listed on my account was XXXX. My correct number is XXXX. I immediately contacted Bank of America via the phone number listed that is located on their website. I was told that in fact the funds had been transferred to the XXXX number and that I would need to file a dispute and they transferred me to a representative. The representative took my information and gave me a claim number. She advised me that it could take 10-45 days to resolve the dispute and get my money returned to me. I called the phone XXXX number to try to contact the recipient and left a message describing what had happened and that the funds were sent in error to that number. I called Bank of America back the next day and was told that the funds were deposited into a Wells Fargo account and the they had the name of the person who received the funds. I was told that even though they had the information and they new the bank and person, I would still have to wait 45 -90 days to find out if I could get my money back. I received a notice on XX/XX/2021 from Bank of America stating that the transaction had been looked into and it was determined that the the transaction was valid and that no credit would be issued to my account from Bank of America. The letter further stated that " as a courtesy '' they would look into it and try to recover the funds for me but that it could take up to 45 days. They will not guarantee that my money will be returned. 
My complaint is that I believed that this XXXX service was a " safe '' way to transfer my money. Bank of America states on their Mobile App that XXXX is a " safe '' way to transfer money. However, it is not. I believe someone " hacked '' into my account and changed my phone number that XXXX used. My phone number in the Bank of America account is correct. However, when I went to use XXXX for some unknown reason that did not populate my correct phone number and instead used the XXXX number. I have made several attempts to call this number and no one ever answerers and never returns my phone calls. I believe that Bank of America should credit my account because they did not protect my account with from scammers XXXX. They are false advertising by stating that XXXX is a safe way to transfer money and I believe my account was hacked into and someone changed my phone number.

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