Checking or savings account -- Managing an account -- Complaint #6599494
Complaint Overview
Complaint ID: 6599494
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Banking errors
State: Illinois
ZIP Code: 60085
Date Received: 2023-02-21T12:00:00-05:00
Date Sent to Company: 2023-02-21T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had deposited an insurance settlement check from XXXX XXXX XXXX XXXX into my Bank of America checking account for the amount of XXXX $ on the XXXX of XX/XX/2023 due to inability of the teller to cash the check. The issuers cheque was from Bank of America as well. Which is supposed to be credited into my account within XXXX business days. But the bank placed the check on hold until XXXX XXXX And deemed the check to be a counterfeit without verification with the insurance agency. They closed down my account under risk closure. They asked me to contact their client protection department regarding the funds. They sent me an account closure letter with no information on the reason for the closure. I called the client protection team constantly for upto XXXX weeks provided the information of the insurance treasury department as well. They re opened my account realizing their error. And validated the funds. But even after consistently calling them everyday for a month, they are not willing to credit my account with the funds. Everytime I contact them they give me a time frame of XXXX business days. But the funds were not credited. My mechanic storAge cost of my vehicle has already gone up to XXXX $ due to the banks mistake which I have to pay out of my pocket.
Frequently Asked Questions
What is Complaint #6599494 about?
Complaint #6599494 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 2023-02-21T12:00:00-05:00.
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.