Consumer complaint received 2024-11-21 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD

Complaint narrative:
I scheduled a payment to put {$620.00} on my rent and unfortunately forgot about it due to a mental health issue. My account was overdrafted by {$230.00} and some change ( I can not remember the exact amount of change ), when I checked my account on the morning of XX/XX/year>. I deposited {$250.00} on XX/XX/year>, at XXXX. I have done this in the past, and never had an issue with a returned check fee. 

My account is set up to return payments if I do not have enough funds. But I have been a customer with Bank of America for my entire adult life ( 20 years ), and NEVER once has anyone properly explained how the cutoff times work. As a matter of fact, XXXX ( the supervisor I spoke with today ), specifically told me on a recorded line that she doesn't even know the cutoff times. 

In addition to that, I have been specifically told that as long as I deposit the funds before XXXX, that my account would be in good standing. I was never told before today ( XX/XX/year> ), that the cut off time for electronic deposits is XXXX. I was never told before today the cut off time to deposit electronic funds was XXXX hours earlier than cash. I was however told on a recorded line ( although the last time was a few years ago a few years ago ) that I had until XXXX to deposit any funds and keep my account in good standing. In this instance " Any '' could only mean cash or electronic deposits. 

XXXX is telling me that Bank of America refuses to pay the third party fee that I'll now be charged, because it's not a systematic error. And XXXX also acknowledged ( on a recorded line ) that although their agents misinformed me or haven't informed me this information in the last 20 years ( despite me asking ), that they're refusing to take responsibility for their agents misinforming me ; that along with the supervisor admitting she doesn't even know, means it's absolutely Bank of America that dropped the ball. 20 years. Never had this issue. 

The XXXX fee I did have for my rent that was my fault ( this was several years ago ), I paid it. Because I never deposited the money that time. So I take responsibility when it's my fault. But Bank of America telling me that they gave me a packet 20 years ago with the fee schedule ( I do not have a fee schedule from 20 years ago memorized, I have had multiple concussions ), and that is sufficient, is absurd. Because again, it's impossible for me to have retained that information, and also I was given the wrong information on numerous occasions since then. 

I appreciate XXXX, because she was the first person to tell me what exactly is going on with the returned checks and breakdown all the cutoff times. But I refuse to allow Bank of America to refuse to take responsibility for the misinformation I've been given over the years. 

Also, I've done this before, but again, before today, no agent ever explained to me ( even after me asking about returned checks ) that what time the rent actually processes vs when the money is deposited makes a difference ( Although it's within the same day ).

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