Checking or savings account -- Managing an account -- Complaint #5521619
Complaint Overview
Complaint ID: 5521619
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: New York
ZIP Code: 11375
Date Received: 2022-04-30T12:00:00-05:00
Date Sent to Company: 2022-04-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
A savings account was opened at Bank of America by 3 people a few years ago. At that time the 3 individuals designated a power of attorney ( POA ) All monthly statements received by the account holders, for many years, showed the power of attorney 's name which appeared under their names ( " as POA '' ). But then, a few years later, as the power of attorney was at the branch making a transaction, he was told by the manager that " the card with the 3 signatures did not appear in the system '', and said that to fix this problem all 3 account holders must again appear together to sign a new card. This has been impossible to be done as two of the cardholders are now living on two different overseas locations and can not make a simultaneous trip just to sign this card. ( Alas, that was the reason in the first place that a POA was assigned! ) The local account holder suggested that the signature card could be signed by each account holder one at a time at the branch, on different occasions, allowing the account holders to travel to the US at their convenience. This idea was flatly and categorically refused by the branch, affirming that it is BOA policy to have all accountholders sign together the POA card. This is just ridiculous.
Frequently Asked Questions
What is Complaint #5521619 about?
Complaint #5521619 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 2022-04-30T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". 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.