Money transfer, virtual currency, or money service -- Other service problem -- Complaint #6302354
Complaint Overview
Complaint ID: 6302354
Company: Bank Of America, National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Other service problem
ZIP Code: XXXXX
Date Received: 2022-12-09T12:00:00-05:00
Date Sent to Company: 2022-12-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am a XXXX XXXX XXXX, I have an account with Merrill for company share awards. On the XXXX I sold some shares hoping to transfer the proceeds to my XXXX bank accounts. I use a company calle XXXX that gives me the ability to receive ACH and Wire account transfers in the XXXX. Merrill refuse to allow me to transfer via ACH and they charge {$7.00} for wire transfers ( I also have to pay for recieving the wire transfers. ) I contend that this is anti-competitive to arbaterally restrict the use of ACH transfers so that they can collect fees for wire transfers.
Frequently Asked Questions
What is Complaint #6302354 about?
Complaint #6302354 was filed against Bank Of America, National Association regarding Money transfer, virtual currency, or money service specifically about Other service problem. It was received by the CFPB on 2022-12-09T12:00:00-05:00.
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 (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.