Checking or savings account -- Managing an account -- Complaint #5571994
Complaint Overview
Complaint ID: 5571994
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Fee problem
State: California
ZIP Code: 90046
Date Received: 2022-05-17T12:00:00-05:00
Date Sent to Company: 2022-05-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I deposited a cashier 's check into my Bank of America business account. The bank placed a hold on the entire deposit and throughout duration of the hold reported negative daily balances and assessed multiple overdraft fees. In an effort to resolve the foregoing, I made numerous phone calls to the bank to inquire why the hold amount was reported as a negative balance and why the bank charged overdraft fees and which it refused to refund. Let alone the deposited amount on hold is not subject to credits or debits until it is cleared, the bank should not charge fees from consumers for their own invented policies.
Frequently Asked Questions
What is Complaint #5571994 about?
Complaint #5571994 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 2022-05-17T12:00:00-05:00.
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.