Consumer complaint received 2022-10-21 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 that DO NOT include the " target '' language and send {$500.00} bonus to my account. PLEASE read the terms at the time of my application carefully in the attached screenshot!!! 1. opened a new bank of america business checking account on XX/XX/2022 using promotion code XXXX. 2. chatted with XXXX bank of america agents XXXX and XXXX on XX/XX/2022 to confirm that promotion was applied to my account. 3. made several deposits totaling {$20000.00} to the opened checking account on XX/XX/2022 and maintained {$20000.00} till XX/XX/2022. 4. I still did not receive bonus on 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 have chat screenshots with bank of america agents avaliable on request to show bank of america agents acknowledged that the promotion code was successfully applied to my account. I also have screenshots of this promotion terms at the time of my application avaliable on request. Offer terms at the time of my application can be found at the end of this complaint that DO NOT have the target language. You can also find a cached promotion webpage on XX/XX/2022 here XXXX XXXX XXXX XXXX XXXX which clearly shows no target language was in the promotion on XX/XX/2022. Note that the promotion term was changed by bank of america on XX/XX/2022 where this target 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. '' see the promotion webpage snapshot on XX/XX/2022 here XXXX XXXX XXXX XXXX XXXX However, this sentence was NOT there at the time of my application on XX/XX/2022! Offer terms at the time of my application are as follows : 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 31-90 ) 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 XXXXiness 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 explanation