Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #7275851
Complaint Overview
Complaint ID: 7275851
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-Issue: Transaction was not authorized
State: Maryland
ZIP Code: 20603
Date Received: 2023-07-19T12:00:00-05:00
Date Sent to Company: 2023-07-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XX/XX/XXXX, I went to a bank to open a checking account and was told I was placed on a bank checklist by the Bank of America ( BOA ) XXXX, MD branch and was not allowed to open an account. I visited the XXXX branch on the same day and spoke with the XXXX XXXX who gave me the number to BOA headquarters to discuss monthly fees charged to my account which had been inactive prior to XXXX. I spoke to a representative at BOA headquarters who stated that I owed {$2000.00} in mostly bank fees but she could settle for {$1000.00}, which I did not have at the time. On XX/XX/XXXX, I returned to the BOA XXXX, MD branch to pay the {$1000.00} settlement. The bank had a record of my call to headquarters but no record of the negotiated amount. I called BOA headquarters again from the XXXX XXXX and a bank representative named XXXX told me and the XXXX XXXX XXXX that the full amount of {$2000.00} was due because the bank does not settle. It is BOA 's policy that any account that is in the negative and inactive for 120 days or more shall be closed. Again, the account had been inactive prior to XXXX yet monthly fees of {$29.00} were charged through XX/XX/XXXX. The beginning account balance on XX/XX/XXXX was - {$890.00}. The beginning balance on XX/XX/XXXX was - {$2000.00}. By the end of XX/XX/XXXX, after an additional fee of {$29.00} was charged, the balance was - {$2100.00} and BOA closed the account. After attempting to settle this matter by paying {$1000.00}, BOA refused to accept that amount and I remain on the bank checklist, unable to open an account. As a consumer and business owner, this unfair and predatory banking practice by Bank of America has caused me XXXX XXXX.
Frequently Asked Questions
What is Complaint #7275851 about?
Complaint #7275851 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Problem with a lender or other company charging your account. It was received by the CFPB on 2023-07-19T12:00:00-05:00.
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.