Checking or savings account -- Managing an account -- Complaint #10081444
Complaint Overview
Complaint ID: 10081444
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-Issue: Banking errors
State: Massachusetts
ZIP Code: 024XX
Date Received: 2024-09-10T12:00:00-05:00
Date Sent to Company: 2024-09-10T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I submitted an application for a XXXX on XX/XX/XXXX. BofA website XXXX XXXX XXXX XXXXbankofamerica.comXXXX ) states : Q : question : What interest rate will be applied to my CD? A : answer : Your CD account will be opened at the interest rate that was effective the day you submitted the form for opening your account. The 10 month CD rate was 4.60 % on XX/XX/XXXX, the day I submitted the form. My application was processed on XX/XX/XXXX and the XXXX rate dropped to 4.41 %. My CD has the lower rate and I would like the higher rate to which I'm entitled. I contacted BofA to correct this and they refused ( see attached letter ), stating the rate was as of the date the XXXX was opened, not the date of my application.
Frequently Asked Questions
What is Complaint #10081444 about?
Complaint #10081444 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-09-10T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.