Money transfer, virtual currency, or money service -- Fraud or scam -- Complaint #6789753
Complaint Overview
Complaint ID: 6789753
Company: Bank Of America, National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Fraud or scam
State: New York
ZIP Code: 10308
Date Received: 2023-04-03T12:00:00-05:00
Date Sent to Company: 2023-04-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2022 I received a Bank of America message ( # XXXX ) asking if I was attempting a quickpay transfer of {$2400.00}. To this message I answered no on XX/XX/XXXX. They requested to call me on XX/XX/XXXX. They called on XX/XX/XXXX. The number that came up on my caller ID was XXXX ( XXXX, NJ ). I spoke with a person claiming to be a representative of Bank of America stating that beside the attempt to transfer the {$2400.00} there were also two more attempts to take {$400.00} and {$240.00} which I received two more BOFA fraud alert text messages. He walked me through the " recovery '' of my money using XXXX where he had me put in my name as the recipient and then use the email address XXXX. He informed me that I should see the money in my account in a few hours. This of course never occurred and I filed a fraud claim a couple hours after the phone call. Bank of America has since denied the two claims I put in claiming that since it was a scam and not fraud, my claim is not covered under Regulation E under EFTA. I had sent an email to XXXX on XX/XX/XXXX, notifying them with attached screenshots of the transactions and communication with the scammer, detailing what had occurred. Bank of America responded a few days later and they again reiterated that there was nothing they could do. Despite arguing that this third party fraudulently gained access to my account by claiming to be a Bank of America representative and tricking me into sending money and initiating an EFT, they still claimed that it is not covered under Regulation E, the main issue being that it was not fraud but a scam and therefore I had knowledge and willingly authorized the transaction. I did not send the money with the expectation I was going to be receiving any goods in return. The money was sent as I was falsely led to believe it was to protect the money in my checking and savings account.
Frequently Asked Questions
What is Complaint #6789753 about?
Complaint #6789753 was filed against Bank Of America, National Association regarding Money transfer, virtual currency, or money service specifically about Fraud or scam. It was received by the CFPB on 2023-04-03T12:00:00-05:00.
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.