Date Received: 2023-11-22
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: {$15000.00} was deposited to Bank of America on XX/XX/XXXX and they ( understandably ) placed a hold on the amount. However, the funds cleared the originating bank on XX/XX/XXXX, and they refuse to release my deposit until XX/XX/XXXX, costing me interest in paying off my credit card bill while scamming interest from the money I deposited. Had I known, I could have XXXX the amount which would have been immediately available.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: UT
Zip: 84094
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: My account was closed cause of fraud which somebody stole my card i could not open bsnk account nomore and trying to get it back for work. I didnt have no amount i think i know i lost my card snd somebody used it. I will pay anything to get it back i need a bank account
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30052
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: My account was closed, however they didnt inform me why? When I tried to ask ( Bank of America ) said its a business decision also they have frozen my funds without saying the reason and when I did the previous complaint they answered after it by XXXX weeks saying there was a claim against from my Mothers ex XXXX XXXXXXXX XXXX. I have provided to them all documents and attached the documents here also to proof that these funds are mine and asked them about an official statement from them in order to sue XXXX XXXX XXXX XXXX and my mothers ex. Im struggling and suffering from these frozen funds. Please help me to return these funds
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 27606
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: Bank of America closed my account due to fraudulent activity, but before my account officially closed, my Social Security Disability check was direct deposited into it, I was told I had to report fraud on that account for which I did, now they are refusing to refund my Social Security income, first I was told I had to go into one of the banking center for my refund for which I did on XX/XX/XXXX, of this year, the representative in the banking center told me the bank usually send a check there was no reason for me to come in the center, while in her office she called the office they told her I should have my refund before XX/XX/XXXX and she gave me a phone number to call to check on it which is ( XXXX ) XXXX, I call on XX/XX/XXXX for a status and got the runaround, was told I had to go back into a banking center, BTW XXXX XXXX is XXXX a national holiday
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30213
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: I am writing to file a formal complaint against Bank of America regarding a blatant violation of the Electronic Fund Transfer Act ( EFTA ). The issue at hand pertains to the handling of a fraud claim totaling {$7400.00} on my account. I, XXXX XXXX, was unfortunately hospitalized for an extended period of three months and was oblivious to the unauthorized charges made through XXXX XXXX during this time. It is crucial to note that I do not possess a XXXX XXXX account and, therefore, could not have initiated or authorized the transactions in question. Despite the immediate cooperation and the submission of all necessary documents requested by Bank of America, the bank has openly admitted to breaking the EFTA federal regulation by failing to provide provisional credit within the mandated 10-business-day period. This delay in the resolution process has not only caused undue financial hardship but has also demonstrated a clear disregard for the consumer protections established under the EFTA.I deserve a prompt and just resolution to this matter, including the timely issuance of provisional credit as stipulated by law. Enclosed with this complaint, you will find copies of all relevant documentation, including the hospitalization records, and any other pertinent evidence supporting our claim. I trust that the Consumer Financial Protection Bureau will thoroughly investigate this matter and take appropriate action against Bank of America for its failure to adhere to the EFTA regulations. Thank you for your prompt attention to this serious matter.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10033
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Problem caused by your funds being low
Subissue: Bounced checks or returned payments
Consumer Complaint: - XX/XX/XXXX XXXX : I receive notice of a declined purchase from XXXX for {$100.00}. I check my account and balance and transactions. It appears that, in error, the {$100.00} was submitted twice, and possibly being refunded to my account once. This has happened before with an unrelated transaction, and the agent said that the error would likely resolve at midnight. This error also initiated a fraud alert, which it did last time. Just in case, I also initiate a payday advance via XXXX for {$250.00}. Theres about {$80.00} in my account. - XX/XX/XXXX early morning ( XXXX ) : I get an after-midnight fraud alert, which surprises me. I have a negative balance, which also surprises me. I review transactions again and realize a check for {$430.00} I had forgotten has begun processing in my account. I do another immediate XXXX transfer for {$330.00} and confirm the account is positive by about {$200.00}, even accounting for the surprise check, before logging off of the app. XXXX XXXX : I see in my email that theres a value load of {$800.00} ( child support ) on my Bank of America MD epic card , so I transfer it to my unconnected checking account. To my surprise, I get email notification of the direct deposit of {$800.00} at XXXX. My balance is now about {$1000.00}. I transfer {$200.00} to a savings account, leaving the checking account balance at about {$800.00}. XXXX XXXX : I receive notice that the {$430.00} check is not being paid due to insufficient funds. My balance returns to about {$1200.00}. When I call Bank of America, they insist the check was processed yesterday, despite my confirmation that it didnt. They tell me yesterday, when the check was processing, I only had {$330.00}, and it wasnt enough. I also realize that the ending balance on XX/XX/XXXX is- {$130.00}, which it was not. Despite the money being there, the agent and the manager told me the check would be returned, there was nothing they could do.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21042
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: XXXX XXXX {$12000.00} I mistakenly paid someone and we asked the bank to collect the money because we didnt not get the merchant we paid for. The bank refused to give us our money back. There are other funds that were submitted those were released but not this one
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 22304
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: In XXXX I opened a personal account with Bank of America, and in XXXX I opened a Checking and Saving Account for my Small business, mid-year in XXXX Bank of America froze my Business and Personal Account, and after trying to get some answers I finally spoke with an agent in customer service that my account had been frozen for unusual activity and could not elaborate any more than that, I spoke with a branch manager at the local BOA and he informed me that it could be resolved in a few weeks but to give it 45 days, but it could take up to 2 years for BOA to complete an investigation. My small business had just received a XXXX Loan for over XXXX I asked if that was the issue and they could not tell me. During the COVID-19 years, it was very difficult for any small business to survive and we were no different, I had employees to pay and other bills, so you can imagine when we received those funds I informed my employees that we had secured funds to back pay them, then this happened with BOA and it was heartbreaking to have to tell my employees that they were not going to get paid and that they would have to wait until I found other resources. You can imagine how frustrating this was to me, both my personal and Business accounts were frozen by Bank of America, I asked about un-freezing my personal account so I would pay my employees out of pocket, but they basically said NO. after repeatedly trying to get answers and getting nowhere, I just accepted it for what it was, between both accounts there was over XXXX I have continued to call or visit the local branch a couple of times through the past years and was provided with no information, I believe my accounts were not just frozen they were closed as I tried to log into my accounts a few months back and the system returned no account found. I was told it would take up to 2 years to release my accounts, well it's been 2 and a half years now since I last called again to try to get some updates the agent informed me that no investigation has been started, I really want to know why my funds are still frozen and why no ones has reached out to update me in the past few years. Best XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 79416
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Advertising and marketing, including promotional offers
Subissue: Didn't receive advertised or promotional terms
Consumer Complaint: Re : Bank of America XXXX XXXX XXXX XXXX, 0 % Promotional XXXX on balance transfers or cash advances. XXXX. I have been a BOA card holder for many years, and have always paid my statement balance to avoid interest charges. XXXX. BOA kept promoting to me a 0 % XXXX on cash advances for 11 months and I decided to take advantage of the offer for a remodel. XXXX. I called BOA to better understand how the promotional APR would work since I have other balances on the card and how the payments would be applied so that I may take advantage of the advertised 0 % APR for the entire term. I was told, as long as other balances are paid, above and beyond the promotional APR balance, there would be no issue. XXXX. My first statement after accepting the promotion, I received interest charges, despite paying the balance of the prior month. XXXX. BOA did a 1-time courtesy credit for the interest fees. XXXX. My new statement balance was {$18000.00}. I called BOA to find out and confirm what amount do I need to pay to avoid interest charges and still take advantage of my promotional APR, I was told {$13000.00}, how does the math work??? XXXX. These are scams and deceiving practices by the bank! I would have never taken advantage of the " offer '' if I knew it was just a way for the bank to start charging me XXXXR on my other transactions. 8. There should be a clear distinction between the APR balance and the balance subject to interest and your CC statement should reflect the minimum payment required to avoid finance charges. Otherwise, this is false advertising and a scam. XXXX. As a consumer, I should not have to perform mental and mathematical gymnastics to avoid interest fees. XXXX. I have been a responsible consumer, paying my XXXX statement balance in full each month only to be scammed by the bank to start paying more interest. XXXX. I have called, have been hung up on, have been told I did not understand the stipulations of the promotion, etc., and so on by multiple reps. But that's just like throwing words into the ether, pointless. What recourse or protections do I have as a consumer?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98296
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-23
Issue: Managing an account
Subissue: Cashing a check
Consumer Complaint: I deposited a birthday check from my grandma in XXXX on XX/XX/XXXX and it seemed to go through just fine so I went on my way. XX/XX/XXXX I recieved a letter saying it was invalid. ( although I have been depositing the same checks without incident since I got my bank account in 2019 ) XX/XX/XXXX I went to the bank after being on hold for over 55 minutes to try and talk to someone to help me out. I talked to the manager to fix the problem. I thought he would be able to see the recent and previous foreign check deposits I've made. He said he was unable to find any records of my recent deposit, but he said he would have someone take care of he problem the next day and I would recieve a call. Both of those things did not happen and they kept blowing me off for weeks. XX/XX/XXXX I went with my mother like the initial visit and they claimed there was nothing they could do at their location. The manager said that the back offices and foreign currency department could handle the problem. He insulted my mother after she explained how she did accounting. Saying " That's how things were done in the XXXX and XXXX, but not now. '' Or " That's a stupid way of doing it. '' He even told us to stop making a scene. And that foreign checks are a gamble and other countries ' banks don't work well with each other. After he told us to call the customer service hotline again, he went back into his office after just saying " Goodbye. '' I just want my birthday money
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95136
Submitted Via: Web
Date Sent: 2023-11-23
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A