Consumer complaint received 2023-06-04 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BMO BANK NATIONAL ASSOCIATION
State: IL

Complaint narrative:
I received an email at the end of XX/XX/ from BMO HARRIS BANK stating I had changed my phone number on my online banking. I had not done so and immediately went to the nearest branch located in XXXX XXXX XXXX. It was determined my account had been compromised and I was informed that initial account was closed for investigation. A new checking account was opened with limited funds while the investigation was underway. 

As instructed at the branch, I made several attempts to contact BMO Harris Bank Fraud Department, waiting upwards of 30 minutes on hold for a Fraud representative before being disconnected or having to end the call due to other appointments. 

I am XXXX by a XXXX XXXX  disorder and had inquired about speaking to a Fraud specialist in person, but was told they do not work with clients in person. I was finally able to make it to the XXXX XXXX branch during business hours and sat down with the Branch Manager who waited on hold with me in his office for 35 minutes before a fraud representative answered the phone. During our conversation, I was informed that my account had not been affected with only one {$800.00} transfer being attempted but not completed. I was told to have my phone cleaned for malware and my online banking would be suspended until then. 

I went to the extreme of buying a new phone and stopped using my BMO HARRIS BANK accounts, instead using XXXX CHECK CASHING LOCATIONS, CASH, GIFT CARDS, XXXX, and XXXX XXXX while the investigation was being completed. 

When I hadnt received any updates by the end of XXXX, I went to the XXXX XXXX branch location and worked with XXXX - BANKER. She informed me that my accounts werent being investigated or monitored as I had been assured, and proceeded to show me my accounts. This was the first time I saw my accounts in months and recognized $ XXXX of dollars in fraudulent transactions. These transactions were documented and those accounts were frozen with another new account opened. 

A couple weeks later, I went to the XXXX XXXX XXXX XXXX location to inquire on the investigation and change my mailing address. I was informed that a police report was required, and a letter saying so much has been mailed to me despite my repeated request for phone calls, emails, and messages via the BMO APP. This request was made as a result of the fraud investigations mismanagement leaving my without adequate money to afford housing. 

I went to the police station within a couple days of being informed of the request for a police report. I reported {$29000.00} in potential fraud and emailed the report to fraud. 

The day after I received a call from XXXX XXXX from BMO HARRIS BANK Fraud and emailed him a copy of bank statements with every potentially fraudulent transaction highlighted, a copy of the police report that indicated {$29000.00} in potential fraud, and a request for regular progress updates via phone call or email. He promised to communicate this to FRAUD. He also informed me I was not eligible for a provisional credit because I reported the fraud after 60 days. I communicated my frustration because I had been reporting my accounts being compromised for months and been operating under BMO HARRIS guidance, but despite this I was not given any provisional credit. 

I reached out to XXXX every week requesting an update and finally received word in XXXX the investigation would be complete at the end of the month. That time came and went with no update and finally in XXXX I was informed {$900.00} was determined to by my transactions- 10 days later I received {$1800.00} in my checking account. Then at the end of XXXX a letter that had been mailed despite several phone calls detailing why I could not receive mail and assurance I would receive emails, was forwarded to me by XXXX BMO XXXX. It stated the investigation had been completed despite {$26000.00} in potentially fraudulent transactions not being accounted or investigated. 

I made an appointment with the BMO XXXX XXXX who had replaced XXXX, a TRULY OUTSTANDING BMO LEADER and the only reason I maintained an account there, who had moved to Arizona. I explained to her my situation, she did not believe my account ever possessed the funds in question, showed me my account had been closed for excessive overdraft, and then literally threw me out of her office. 

Realizing I had likely lost {$25000.00} after suffering homelessness and having to apply for XXXX XXXX waiting for over eight months for BMO to secure and reimburse my accounts with almost no response to over 100 requests for updates my mental health spiraled and that day I was admitted to an XXXX XXXX XXXX  for a week before transferring to a XXXX XXXX for continued monitoring.

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