Checking or savings account -- Managing an account -- Complaint #6775691
Complaint Overview
Complaint ID: 6775691
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: California
ZIP Code: 95630
Date Received: 2023-03-30T12:00:00-05:00
Date Sent to Company: 2023-03-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/22 There was a fraudulent ach transaction on our business account at Bank of America. I noticed the transaction on XX/XX/22 and went into my local branch located at XXXX XXXX XXXX XXXX XXXX, Ca XXXX. I spoke to the bank manager about it and they froze the account so no further fraud could take place. The managers name is XXXX XXXX. I told him I wanted to get the fraud recovered right a way. The amount was for {$33000.00}. He responded by telling me that I needed to fill out some paperwork and I would get my money back in 60 to 90 days. He had me sit with one of the bank associates that day to open up a new account and order new checks. The associates name was XXXX and he said he would email me the fraud claim forms and I could fill them out and send them back. He never sent me the forms and never responded to my calls or email to ask why the forms weren't sent to me. I went into the bank on XX/XX/22 and the bank manager said XXXX no longer worked there. The bank manager XXXX XXXX then filled out the forms with me at that time an faxed them to the fraud department. I learned later that with a business account and with an ach fraud transaction you only have 24 hours to stop it. I went into the bank within that time period and asked for an attempt to get the money recovered but because the bank manager didn't know this rule he did nothing at that time to recover the funds. Him telling me to fill out fraud forms that could be sent in later confirms that. The bank is not taking responsibility for there negligence and is refusing to give our money back. If he would have made the call to his fraud department when I came in on the XXXX the money could have been recovered but he failed to do so.
Frequently Asked Questions
What is Complaint #6775691 about?
Complaint #6775691 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 2023-03-30T12:00:00-05:00.
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.