Date Received: 2023-07-11
Issue: Opening an account
Subissue: Account opened as a result of fraud
Consumer Complaint: I am submitting this report because unauthorized accounts have been opened in my name twice in the last 8 months at Bank of America. The first incident happened in XXXX, 2022. The most recent incident happened at XXXX ( EST ) this morning. In both cases I received several emails letting me know a new account was applied for and ultimately approved in my name. The first time was a mess to get resolved but Bank of America did eventually send me a letter indicating they agreed the account was fraud. This time I had a better idea who to talk to and what to ask for. The account is closed and I am supposed to either get another letter indicating this was also fraud, or they will contact with any follow-up questions within 2 weeks. As with last time, it was challenging to get them to say they would send a letter as they didn't seem to understand why I wanted it. In both cases I caught the account opening before any transactions took place. I had a mortgage with Bank of America years ago so they do have my info on file. The first time I assumed my info was compromised somewhere. I've received no alerts through my id protection or any credit agency, but now that it's happened again at the same bank I wanted to file an official report with the CFPB. I've only provided specific documents relating to the current issue, not the identical incident 8 months ago. I'd be happy to provide more details on the previous incident if needed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 49002
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: Bank of America. I closed my checking and savings account I had with the Bank in person at a bank branch. I was told the ONLY way to cancel the credit card account was online or on the phone. They have no online method to cancel the card, so I have attempted to call them. They do not answer the phone for over half an hour. I later decided to keep the credit card for a little longer. The system they use to pay the credit card off is 'bill pay. ' I have tried to set up an external account to via this bill pay system. However, it will not allow me to individually set up an external account, and states I am ineligible for bill pay. I was told then I need to contact another account to set up explusively to make payments from an external account. So I did this. In my opinion, this is an egregious use of delay tactics and substantially burdens the consumer. The entire 'bill pay ' fiasco very clearly shows that the Bank wants you to set up a checking account to make it easier for the consumer to pay their credit card bills -- obviously beneficial for the Bank to have a checking account to force unfair fees upon the consumer. Not to mention, the only way to achieve my method of paying a credit card bill is through their slow and inefficient phone service ; my calls in total took over 2 hours to solve the propblem.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NV
Zip: 897XX
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Advertising and marketing, including promotional offers
Subissue: Didn't receive advertised or promotional terms
Consumer Complaint: So i've just read in the news that BofA have lied to customers regarding bonus points on spending for example. I found this alarming as I had this exact conversation with a BofA about earning way more points than dollars spent that is showing now. But i can't be sure. Is there a way to check this? I have felt for some time I have not been earning the amount of points they originally dazzled me with. XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90068
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: We have been with Bank Of America for OVER Twenty years. Both my husband and I have multiple accounts and a few years back, we received MULTIPLE OVER DRAFTS FEES and MULTIPLE TRANSFERS FEES for both large and small transactions that caused multiple overdraft fees for each transaction. This caused none payments for bills, distressed and most of all, disconnects of utilities & car payments. The fees were automatically intercepted whenever a deposit was made causing us NOT to have enough to pay bills or some times not purchasing food. I am demanding refunds for those ILLEGAL practices. We continuously have to close debit cards due to unauthorized purchases nearly every MONTH as recently as TODAY XX/XX/23!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77089
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: My Bank of America Account was charged numerous over draft and insufficient funds fees. My account is now closed and in default because of this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48185
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: On XX/XX/23 at around XXXXXXXX XXXX I deposited cash into a stand alone Bank of America ATM on XXXX XXXX at the corner of XXXX and XXXX XXXX. I deposited {$2100.00} in {$100.00} bills. The machine took the cash. I was adding more funds and it locked up. The machine didnt credit my account and it gave me a receipt telling me to call the claims number. I have filed a claim with the bank and have been checking to see how it is being handled. I have been getting the run around and just told they are investigating. They say they understand and they are sorry but I live paycheck to paycheck. My company doesnt have direct deposit and we receive a paper check every week. I always deposit funds after I cash my paper check from the bank its written on. I feel I need to reach out and file this claim for assistance. I would greatly appreciate any help I could get. Ive made several attempts to escalate the issue with the bank to no avail. Please help me and my family. We greatly depend on these funds to pay our bills.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77505
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Advertising and marketing, including promotional offers
Subissue: Didn't receive advertised or promotional terms
Consumer Complaint: My BOA XXXX XXXX I have had for at least 15 years and the interest rate went from 15.74 % in XXXX of 2022 to over 19 % now. I have never been notified about the interest going up and I have tried to get BOA to lower the interest so I can get the bill under control. I have had to transfer money to other lower interest cards, but I can just transfer so much so I am stuck with this higher interest rate. My Interest rate was consistently 14-15 % from XX/XX/2022 back about 7-9 years. It is near to impossible to get out of debt when half your payment is going to interest. There are fees that they charged along the way here and there and I can not figure out why I was charged the fee. I have been a good customer and had good to great credit for many years. Pay on time. I also went from no fees for checking and savings to fees around the same time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30542
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Problem with a lender or other company charging your account
Subissue: Can't stop withdrawals from your account
Consumer Complaint: This in regards to The Bank of America settlement and I could not figure out the right information to make a complaint about that in particular. I recently saw the news about it and was not surprised because I had personally had this experience with them. They fully convinced me that there was nothing I could do about the situation and everything they did was legal. I did not know what avenues I could take such as filing a complaint with CFPB. I had an account with Bank of America for about 2 years and in that time I was never awarded the sign up bonus I was promised during my signing and I was double charged multiple times for overdraft fees. I stopped trusting them with my money and they eventually closed my account. I am wondering if there is anything I can do or is it too late?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98516
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Credit monitoring or identity theft protection services
Subissue: Problem with product or service terms changing
Consumer Complaint: I started receiving emails from the Bank of America regarding the opening of an account on XX/XX/XXXX and several subsequent emails over the next several days. Immediately after receiving these emails, I forwarded them to Bank of America 's published Fraud email ( XXXX ) as I could not verify whether these were legitimate emails or phishing emails. Bank of America did not respond to any of the 7emails forwarded to them. Several weeks later, my father mentioned that he had received several letters from Bank of America addressed to me at his address. I asked him to open them and send me copies. After reviewing the information sent by BofA, it appeared that someone had opened a checking account with my information. I immediately contacted BofA and was transferred to their fraud department, where the agent confirmed that an account was opened in my name online on XX/XX/XXXX and shut down by BofA on XX/XX/XXXX after the bank was unable to verify my identity. Unfortunately, 4 transactions were completed, 3 XXXX transfers to the account and 1 withdraw, somewhere in Washington XXXX. BofA went over the transaction details on the account, including providing me the names of the 3 people who were defrauded. At this point, I began to ask the agent questions about the policies of BofA. Specifically, why someone would be allowed to use the account before BofA was able to verify their identity. The agent told me that they allow online customers to immediately access their products for " convenience. '' I pointed out that it's not very " convenient '' for people like me who are victims of identity theft of for the 3 individuals who were defrauded of money because BofA decided to make it " convenient '' for someone to commit fraud. I then mentioned that, in one of the mailed letters, I received a debit card for the account and inquired how a person who only recently opened an account online could make a withdraw from an ATM without a debit card. The agent again replied, we give new customers access to a virtual debit card for " convenience '' until their physical card arrives. I again pointed out the flawed policy, which clearly prioritizes their products over the public interest of combatting fraud. The agent acknowledged that they are aware of the issue and that a new policy was set to be rolled out in XXXX. I am very disturbed that a financial company as large as Bank of America would be so caviler about combatting fraud that they would be aware of a glaring issue with their policies and slowly roll out a patch. Moreover, the fact that a 'customer ' can open up an online account, gain access to the features of the account, and access virtual debit cards all before the bank even confirms the person is who they claim to be feels negligent. They have an entire department devoted to Fraud Prevention and yet they knowingly have a policy that allows people to commit fraud because they are prioritizing their products over people 's security.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 49546
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-07-11
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: My husband and I opened a merchant service with Bank of America under XXXX business. I called and asked was it possible to switch the merchant service to another business account and discontinue the one. The representative XXXX told me it was possible, but I had to purchase another machine and they would send a label for me to return the machine and I would be refunded. 90 day had passed and I continued to inquire about the mailing label being sent as we had already purchased another machine. There was no need for another machine. The representative said it was sent out. I told him I would file a compaint with the XXXX and the label was XXXX XXXX out the next day. I mailed out the other machine. I told him at this point I would like to return both machines as we purchased the other machine on a credit card and it is growing interest from us not getting a refund. The representative told me that it was past the time to return, but the time passed had to do with Bank of America not sending the mailing label in a timely manner. I had followed up every week and finally we reached a time where they said the other machine could be returned. I then began inquiring about the refund. No response for weeks and finally was told that the refund was issued on XX/XX/2023. When I checked my account they refunded it to an account we did not use to pay for the machine within XXXX of XXXX and then used the refund that was in the account without our consent to cover a bill that was due to the bank. I still have the machine. I have not used it or opened the box because I feel like they really mishandled my account. Have tried to resolve with may emails and calling customer service but I felt misled to purchase another machine and the refund was not issued in the same payment form it was given.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90045
Submitted Via: Web
Date Sent: 2023-07-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A