Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #7400541
Complaint Overview
Complaint ID: 7400541
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Problem with a lender or other company charging your account
Sub-Issue: Can't stop withdrawals from your account
State: Massachusetts
ZIP Code: 026XX
Date Received: 2023-08-14T12:00:00-05:00
Date Sent to Company: 2023-08-14T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I received a call on Friday XX/XX/XXXX from an unknown number claiming to be XXXX XXXX Account Services. Because of our financial delinquency currently I fell for the request. Two nights previously our cable was shut off for late pay. I was under pressure financially. The caller claimed we were on a list for disconnect that day if the previous balance was not paid directly. I brought up my XXXX Account online and saw the balance they referred to was identical to my overdue balance. Not sure where they got these detail. They showed later on the caller ID as a XXXX phone number. Bottom line is they claimed that if I did not pay directly to that office that my disconnect had been dispatched and that department is the only one that can see the payment and then cancel the disconnect. If I paid on my XXXX online account they claimed it would not go through in time to avoid disconnect on a Friday. They wanted to know if I could XXXX the balance to XXXX XXXX - mobile immediately. I knew I had Bank of America partially owned XXXX on my BOA app and thought I was protected if I made the transaction through my bank. I was blinded by fear in the process and just wanted to avoid disconnect. I made 4 XXXX transactions, 3 cleared before BOA stopped a fourth. The total fraud was for {$890.00} wiping out my weeks budget for other bills. I called Bank of America when my wife got out of work and stated that it ma have been a scam. Bank of America started a case but told me that XXXX is an outside entity that is like transacting in cash and they had no protection against fraudulent activities drawn against my checking account through XXXX within my Bank of America webpage. I was stunned. I am out the money, still owe the bill and have no funds to pay properly. How can Bank of America not protect a consumers money on a transaction that was done on their website through a corporate partially owned entity like XXXX? This is really bad when our money is not protected on our banking apps.
Frequently Asked Questions
What is Complaint #7400541 about?
Complaint #7400541 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 2023-08-14T12:00:00-05:00.
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.