Consumer complaint received 2023-11-08 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA

Complaint narrative:
Hello, I am writing to report fraud that Bank of America has committed. 

Here is what occured : -on the evening of XXXX, I requested to wire over 48 hours $ XXXX from my personal bank of america account to my business account at XXXX XXXX XXXX 

-sometime in morning of XXXX, I apparently received e-mail that there was a fraud concern from BOA and my transaction would be held. I tried to call evening of that day to verify everything as I am a reservist and was busy on base, did not have good signal. Their fraud office apparently was closed by then, which is surprising as a major bank typically has a 24 hours fraud service.

-as a result of this, bank of america froze all my accounts w/ them, they did not call me to try to fix this as what should have happened, simply sent an e-mail WITHOUT hours of service to call back. 

-on XXXX, I called them at XXXX XXXX, clarified everything with them, and was assured that my funds would be sent out same day and that my receiving institution should have money same day. I repeatedly asked that since its a wire, will they get it right away, I was assured on a recorded line it would be. 
XXXX was a lie. by XXXX XXXX, i became concerned that $ XXXX was still in my BOA account and not w/ my business account w/ XXXX XXXX XXXX 
-I called BOA at XXXX XXXX  XXXX, they informed me that the funds would leave by end of day and that it is NOT in fact a wire, which i was previously promised and lead to believe it was, that it was instead going through ACH. 
-I then asked if they could cancel the ACH transfer as the funds wouldn't arrive until XXXX, I needed the money before XXXX so that I could make a minimum payment on my XXXX business account. I then was assured on a recorded line the ACH transfer was cancelled. I then proceeded that evening on XXXX to making the $ XXXX roughly minimum payment on my XXXX business platinum account through my personal BOA account just to avoid late payment which was due XXXX. 

-I was shocked to awaken XXXX on Saturday to find my BOA balance was negative $ XXXX. BOA WITHOUT my authorization clearly lied, took my $ XXXX out of my account, and did god knows what with it. I sat in negative balance the entire weekend. I tried calling their bank line, they sent me to their fraud line, which was closed for the weekend. Unbelievable. 

-Because of bank of america 's clearly flagrant lying and fraud, they have made a criminal action as my money was moved w/o my permission. 
-on Monday, the money was NOT returned to my checking account until late monday morning. as a result of their negligence, my payment to XXXX XXXX was declined, and then XXXX XXXX as a result has auto limited ALL my accounts w/ them which will hurt my credit and harm my business 's ability to do further business. 

-because of their flagrant deception and fraud, I can not even appeal XXXX 's decision until XX/XX/13. 

I request you investigate BOA for their fraud, subpeona all my phone calls w/ their reps, which are typically recorded, sanction them, and force them to mediate this situation. I am in the meanwhile going to pursue litigation if my accounts w/ XXXX can not be undone as a result of their flagrant fraud and criminal acts of this said bank. I NEVER consented them to proceed to send my funds via ACH and they are ON record as stating they would " cancel '' the transaction, which was 1 hour before their XXXX XXXX  cutoff to cancel it. They still moved the funds w/o permission and after explicitly promising they would not move them. this is a fraud. 

I look forward to assisting you in this investigation in any way possible. 

thanks.

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