Consumer complaint received 2024-12-17 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with balance transfer
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MI

Complaint narrative:
Subject : Formal Complaint Regarding Unauthorized Credit Card Transaction and Fees Dear Consumer Financial Protection Bureau, I am writing to formally file a complaint regarding a recent experience with Bank of America ( BOA ) involving unauthorized credit card activity and associated fees. 
On XX/XX/scrub> 2023, I submitted an application to Bank of America for a credit card offer featuring a 0 % interest rate for 12 months, with a balance transfer option at a cost/fee of 3 %. As part of the application, I requested balance transfers for three specific credit cards in order to take advantage of the promotional offer.

After reviewing my application, Bank of America unilaterally decided to pay off only one of the three credit cards I had listedwithout my knowledge or consent. Subsequently, BOA issued a credit card in my name and sent a payment directly to XXXXXXXX XXXX XXXX XXXX, one of the credit card companies listed in my application. This unauthorized payment resulted in a credit balance at XXXX and, to my surprise, a new balance of {$6800.00} ( including the 3 % transfer fee ) at Bank of America. I only became aware of this transaction upon receiving a statement from XXXX, which was both unexpected and concerning.

Upon discovering this issue, I immediately contacted Bank of America to request a reversal of the unauthorized transaction. BOA representatives informed me that the transaction could not be reversed. I then requested that the 3 % transfer fee be waived, as I did not authorize this payment. BOA refused to reverse the fee despite the fact that I neither consented to nor was notified of the payment.

I find Bank of America 's actions to be highly unethical. Sending payments without customer authorization or notification violates principles of transparency and consumer trust. Further, charging a fee for a transaction that I did not approve is deeply concerning. This experience aligns with broader reports of aggressive and unethical practices by Bank of America, including unauthorized account openings and fee-driven tactics.

I kindly request the Consumer Financial Protect
ion Bureau to investigate this matter and hold Bank of America accountable for their actions. Specifically, I request : 1. A full reversal of the {$6800.00} balance transfer and corresponding 3 % fee.

2. A formal acknowledgment from Bank of America regarding their failure to secure proper authorization for the transaction.

3. Assurance that such unauthorized practices will not occur in the future.

I appreciate your time and attention to this matter and look forward to your support in resolving this issue fairly. Please do not hesitate to contact me for any additional details or documentation required. 
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

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