Date Received: 2023-12-13
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: I received an email notifying me that my bill payment options were being deactivated. When I called Bank of America to see what the problem was, they indicated that they were closing my account and all of my other checking and savings accounts. I asked why and they told me they reserve the right to close my accounts without notice. This has severely interrupted my life as I have used these accounts for over 15 years.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 328XX
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-13
Issue: Fraud or scam
Subissue:
Consumer Complaint: I was scammed by people impersonating XXXX and police and I ended up sending 3 cashier 's checks of {$140000.00} to the scammer on XX/XX/XXXX from my bank Bank of America. I filed a claim with BoA on XX/XX/XXXX, claim number XXXX, before the cashier 's checks were deposited on XX/XX/XXXX. Later that day, the checks were deposited. {$53000.00} and {$49000.00} was deposited to XXXX, {$40000.00} was deposited to XXXX XXXX. XXXX caught the fraud alert and froze the funds on XX/XX/XXXX. {$40000.00} was deposited to XXXX XXXX and they released the funds to fraudsters before investigation. On XX/XX/XXXX, BoA sent me the Scam Victim Acknowledgment letter and I have signed and returned on the same day. When following up with BoA, BoA has verbally informed me when I filed the claim, a fraud alert was flagged on the checks and the receiving banks should be able to receive the alert and hold the funds until the investigation is finished. On XX/XX/XXXX, XXXX check hold department called me to verify the {$53000.00} check and I informed them about the scam and they told me they would hold it and not release it. On XX/XX/XXXX, XXXX check hold department called me again to verify the {$49000.00} check and I informed them about the scam and they would hold it and not release it. When I followed up with XXXX, it seems to be the case and they told me they caught the alert on XX/XX/XXXX and froze the funds on that day and has not released the funds. When I followed up with XXXX XXXX, they have denied receiving any alert from BoA on XX/XX/XXXX until XX/XX/XXXX the hold harmless document, hence they already released the funds and there are no funds available. Without the alert document, it is unclear what and when actually have been alerted to XXXX and XXXX XXXX and which financial institution should hold accountable for negligence and misconduct. BoA and XXXX XXXX are playing " he said she said '' with BoA said they sent the suspicious alert on XX/XX/XXXX but XXXX XXXX said they didn't receive anything from BoA until XX/XX/XXXX. On XX/XX/XXXX, XXXX XXXX XXXX department also informed me they are holding {$51000.00} and {$49000.00} of the funds and BoA has to claim the funds from them to return. On XX/XX/XXXX, the claim is closed and only {$51000.00} was recovered. This doesn't align with XXXX 's holding both {$51000.00} and {$49000.00}. The {$49000.00} is missing. BoA should provide me a final decision from both XXXX and XXXX XXXX if they have officially declined the {$49000.00} and {$40000.00}, respectively. More over, if BoA did sent the suspicious alert to XXXX XXXX and XXXX XXXX didn't act on it, XXXX XXXX should be liable of releasing the funds, if BoA failed to send the alert, then BoA should be liable. I'm asking BoA to provide the document of what alert, flag and/or precautions have been taken on the cashier 's check or to the receiving financial institutions upon filing the claim. I'm also asking BoA to provide the final decision document made by XXXX XXXX and XXXX that they declined to refund the {$40000.00} and {$49000.00}, respectively.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 78759
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-13
Issue: Trouble during payment process
Subissue: Payment process
Consumer Complaint: I made two payments Bank of America on my account in XXXX of XXXX they applied them on XX/XX/XXXX one for XXXXXXXX XXXX payment and took the other payment and applied them to escrow only and will not change them XXXX, XXXX payment was made via check XXXX 's payment check numberXXXX for amount of XXXX for principal and interest and checked number XXXX for XXXX for escrow as described in memos portion of check XX/XX/ payment check number XXXX for XXXX for principal and interest escrow check number for XX/XX/ amount of XXXX as described in memo portion of check they only applied XXXX month payment put the rest in an undeposited account and then moved it to escrow
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 321XX
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Problem with a purchase or transfer
Subissue: Card company isn't resolving a dispute about a purchase or transfer
Consumer Complaint: I for 3 years have been disputing XXXX of unauthorized transactions made by someone who stole my debit card numbers and made unauthorized purchases. I do not know this person. I did not give anyone permission to use my card. No one had my card because I freely gave it to them. This is my 3rd attempt to complain and have my funds returned here. Both other complaints remain open. BOA received a copy of my complaints here as well as a police report for the charges. They are a no fault for unauthorized charges bank. It's in their card holder policy. There is no security feature on the XXXX unemployment cards only yet their regular bankers get one. Then they want to allow this to happen and literally rob out of work Californians it's insane. I'm begging for a resolve and I won't give up.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90022
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Problem with a purchase or transfer
Subissue: Card company isn't resolving a dispute about a purchase or transfer
Consumer Complaint: I for 3 years have been disputing XXXX of unauthorized transactions made by someone who stole my debit card numbers and made unauthorized purchases. I do not know this person. I did not give anyone permission to use my card. No one had my card because I freely gave it to them. This is my 3rd attempt to complain and have my funds returned here. Both other complaints remain open. BOA received a copy of my complaints here as well as a police report for the charges. They are a no fault for unauthorized charges bank. It's in their card holder policy. There is no security feature on the XXXX unemployment cards only yet their regular bankers get one. Then they want to allow this to happen and literally rob out of work Californians it's insane. I'm begging for a resolve and I won't give up.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90022
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Problem with a purchase or transfer
Subissue: Charged for a purchase or transfer you did not make with the card
Consumer Complaint: my wallet and cell s stolen my accounts hacked and the took all my pandemic money i filed claim mad police report and claim was denied the bank a year latter ut it up for review and approved three claims and now they denied two claims that where filed the same day bank of america employey that filed my claims wrote claims wrong there where duplicates and they still filed them never giving me the option to fix the mistakes insteed they processed them and let them get denied the ifromation they used to deny my claims is the same they ussed to approve three they went over the time limets and never offerd pervisinol credit insteed they say i atherized the charges that aint true i got locked out my accounts
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Other transaction problem
Subissue:
Consumer Complaint: I transferred money online from my Bank of America account to my personal account, XXXX XXXX. {$1700.00} I mistakenly selected Bill Pay, selected XXXX XXXX in my name, and transferred it. However, the money did not arrive at XXXX XXXX, so I visited the XXXX branch and asked a XXXX to confirm it. He gave me his contact information and said he thought the money was sent because I had made the wrong settings. So, I called the phone number they gave me, but they asked who I had paid the bill to and said they would check and contact me, but they ended the call as soon as the interpreter left. There was no contact after that.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30519
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Trouble during payment process
Subissue: Paying off the loan
Consumer Complaint: I refinanced my {$650000.00} mortgage and {$80000.00} home equity line of credit ( " Heloc '' ) from Bank of America to XXXX XXXX. The closing occurred on XXXX XXXX XXXX and the funding occurred on XX/XX/. Prior to the closing I checked online to find out how much interest was accrued as of the funding date and received a response from Bank of America. However, Bank of America insisted that an additional 5 days of mortgage interest and 9 days of Heloc interest ( beyond the funding date ) be included in the closing costs. This amounted to {$720.00}. I contacted the local law firm that was representing Bank of America XXXX XXXX, XXXX XXXX XXXX XXXX XXXX ) and spoke with XXXX XXXX prior to the closing date. I received an unsatisfactory explanation as to why it is necessary to collect the additional interest at the closing. As expected, the funding took place on time and Bank of America was paid in full on XXXX XXXX, including the overpayment of {$720.00}. I contacted XXXX XXXX XXXX XXXX XXXX in the afternoon and told her that I expect to receive a refund from Bank of America within the next 3 business days in the amount of {$720.00}. She told me that because their firm will include the check for the entire amount of the accrued interest owed to Bank of America in their XXXX XXXX XXXX Bank of America will not deposit the check until XX/XX/. Therefore, I am responsible for the extra day of interest notwithstanding the fact that all of the funds were delivered to their law office by early afternoon on XX/XX/. In addition, she advised me that it will take 14 days for Bank of America to refund the overpayment that they insisted they must have in order for the closing and funding to take place. In other words, I am being charged {$150.00} interest for the same day ( XX/XX/XXXX ) by 2 Banks. Correctly by XXXX XXXX and incorrectly by Bank of America. I checked online and found out that the number of mortgages that are issued on an annual basis range from XXXX XXXX XXXX XXXX Accordingly, if the average amount of duplicate lender interest charges approximated {$100.00} per consumer, consumers are paying between XXXX XXXX XXXX XXXX XXXX XXXX XXXX in duplicate interest charges ( in addition to waiting 2 weeks to receive the excess interest consumers are required to fund at the funding date ). This is outrageous and lenders and their agents should not be allowed to take advantage of consumers in this manner.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 115XX
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I am writing to express my deep concern and frustration regarding the unexplained closure of my XXXX business checking accounts with Bank of America on XX/XX/2023. As of now, it has been two months since the closure, and I am yet to receive any concrete information or release of my funds. The total balance in both of my accounts amounts to approximately {$250000.00}. I have exercised considerable patience, expecting a prompt and transparent process for the release of my funds. However, the lack of information and extended delays in resolving this matter have left me in a state of distress. Each time I have reached out to Bank of America customer service for an update on the status of my check, I have been informed that my case is under an unknown investigation. Regrettably, there seems to be no specific timeframe provided for the completion of this unknown investigation. The uncertainty surrounding when my funds will be released, coupled with the suggestion that it may take months or even years, is deeply troubling. I would like to emphasize that I have maintained accounts with other financial institutions concurrently, and I have never encountered such a situation before. The lack of transparency and urgency in addressing this matter has severely impacted my confidence in Bank of America 's commitment to its customers. I am reaching out to request immediate and transparent communication regarding the status of the investigation into my closed accounts and the subsequent release of my funds. I believe that a resolution to this matter should not be subjected to an indefinite timeline, and as a valued customer, I expect a more proactive approach to address my concerns. I kindly request that Bank of America expedites the investigation process, provide a clear timeline for resolution, and ensure the prompt release of my funds, as the continued delay is causing significant financial strain and distress to my business and me personally. I appreciate CFPB 's prompt attention to this urgent matter and look forward to a swift and satisfactory resolution.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33178
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-12
Issue: Managing an account
Subissue: Problem making or receiving payments
Consumer Complaint: Bank of America deducted {$470.00} from my checking account and sent it to an unknown payee. The check was supposed to be sent to my HOA but instead, it was sent and cashed by someone unknown to me. BOA is supposed to send me an affidavit for signature so they can release the funds back to my account but they have not. I have called them several times and they keep stalling the process. It has taken me several times to get any response out of BOA.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02151
Submitted Via: Web
Date Sent: 2023-12-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A