Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #4730656
Complaint Overview
Complaint ID: 4730656
Company: Bank Of America, National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other transaction problem
State: Maryland
ZIP Code: 21117
Date Received: 2021-09-17T12:00:00-05:00
Date Sent to Company: 2021-09-17T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/2021 I authorized a transfer of {$2800.00} to my son, XXXX XXXX, via my Bank of America Checking account, using the Bank 's XXXX online banking transfer tool. The recipient XXXX for my son, XXXX XXXX, was loaded with a mobile phone number which I trusted to be his mobile phone number. However, that mobile phone number in the XXXX was off by one digit. My son 's mobile number is ( XXXX ) XXXX but the number shown in the XXXX XXXX was ( XXXX ) XXXX. I contacted Bank of America that same day after speaking with my son and learning that he did not receive the transfer and has no XXXX account, I asked Bank of America to correct the matter and return the {$2800.00} to my account. They explained that they can see the transaction in their system and that the error is not theirs and the funds appear to have been routed to an XXXX XXXX XXXX XXXX account but they can not identify the specific recipient. They said they will have their appropriate department investigate ( XXXX claim # XXXX ) and if indicated follow-up with XXXX XXXX XXXX and hopefully the transfer can be reversed. Two weeks later I received a letter ( Dated XXXX XXXX, XXXX ) from the investigations Dept. at Bank of America saying, " Unfortunately we are unable to approve your recent claim because our records indicate that we completed the transfer according to the instructions you provided us, and therefore no error occurred. Based on this your account won't be credited. However, as a courtesy, we're researching your inquiry with the other party in an attempt to recover the funds for you, and will notify you if we need additional information. Keep in mind it may take up to 45 calendar days for us to hear back from the other party. If we receive any additional information from them we'll contact you. ''
Frequently Asked Questions
What is Complaint #4730656 about?
Complaint #4730656 was filed against Bank Of America, National Association regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2021-09-17T12:00:00-05:00.
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 (Money transfer, virtual currency, or money service) 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.