Consumer complaint received 2024-06-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: GA

Complaint narrative:
On XX/XX/year>, I was a victim of an Identity theft scheme. I had my phone stolen, and the assailant used my phone to do over 43 transactions over XXXX XXXX, XXXX, and other merchants using my debit card and bank account on my phone. These transactions exceeded {$5000.00} in a period of 24 hours. They also had stolen my phone.

I filed a claim immediately with Bank of America when I became aware of the charges. I walked through the transactions line by line and submitted 3 separate claims, as 2 checking accounts and one credit account had fraudulent activity. I also promptly filed a police report of the incidence and submitted that to the bank.

My Credit claim was quickly resolved, but my 2 debit claims were not and they were denied. The debit fraud happened at the same time as the credit fraud.

The first problem arose when the agent who filed the report, failed to identify transactions that were declined and had not yet been posted at the time of filing the claim. This caused the amount on the denial letter, not to add up with the transactions that were on my statement.

The second problem arose when upon receipt of the denial letter, I contacted BOA to reopen my case and investigate it further. Denied a second time.

When I requested supporting documentation as to why they denied my claim, they gave me short answers like " You authorized these transactions '' or " You have history using XXXX XXXX ''. They became very evasive as to why they were denying my claim.

Additionally, I requested another denial letter, one that would also include a list of the transactions included in my claim. Initially I was told that I would be sent something in the mail. 2 weeks go by, nothing. I called again, and escalated to a supervisor, who told me that " their system does not allow them to send that information '' and that " I should visit a financial center ''. So I went to my local bank who told me to call claims again.

I again call claims and request this information, and after being on the phone for several hours, I reach someone who said that they would send me this information in the mail. I have a voice recording of this phone call where they explicitly tell me that they would mail me the information I requested. Finally done right? Nope.

About two weeks later, I received a package in the mail from Bank of America. Inside of it was 7 copies of the denial letter that they had sent me a month prior. No transaction list, no details as to what went into the investigation of my claim. I was furious.

I then called one last time, expressing my frustrations and spoke to a supervisor. This supervisor told me that again, " their system doesn't allow them to send the customer a list of transactions included in their claim ''. Again, I got nowhere.

It really raises questions about BOA 's investigation process. I have requested a very simple thing : a list of transactions that were included on my claim. They could see the claim transactions, they could read them to me, but would not give me anything in writing. It really seems as though they messed up and do not want to put anything in writing.

They were quick to resolve the credit claim ( for obvious reasons ), but failed to divulge any information i requested about the other claims which all happened at the same time.

Anybody with a pair of eyes would be able to see that over 40 transactions in under 24 hours all in large amounts to a recipient I have never sent money to is fraud. Not to mention the assailant also opened several credit lines at other banks which reflected on my credit report. It is all so obvious. I am a young man just getting his life started and lost most of what I had to my name, and nobody would help me.

The reason I requested the list of transactions is because under my identity insurance, I could file a claim. In order to do that, I need a list of transactions that add up to the denial letter amount, of which Bank of America was unable to provide me.

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