Checking or savings account -- Problem caused by your funds being low -- Complaint #7694664
Complaint Overview
Complaint ID: 7694664
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Non-sufficient funds and associated fees
State: New Jersey
ZIP Code: 07110
Date Received: 2023-10-13T12:00:00-05:00
Date Sent to Company: 2023-10-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
opened a Bank of America small business account before the coronavirus pandemic and everything was fine in my account but I lost a lot of income and I find that this bank is taking advantage of a small business that struggling they are holding my checks for longer periods and leadtimes causing me extreme overdraft fees and refused to help me or give me any of my money back they said I already got three fees back but that was due to unknown charges when I first opened my account it has nothing to do with the pandemic or my struggling to pay my bills. I called them multiple times and asked them to escalate my situation but they refused to help me and keep giving me the runaround. They have no compassion and even if the check is a Bank of America check they hold it for extra long times and they said its because of my balance and they can change the whole time anytime they want I have incurred so many fees due to the pandemic and they refused to help me either Im so upset and I dont know what to do I can not get ahead with all of the fees that they put in my account I deposited a {$8000.00} check that I needed to pay my rent and my bills for my business and theyve already taken money for fees while holding the check I need someone to help me and speak for me as a small struggling business. All I want is al the fees back but they will not be work with me at all even though I told them I am struggling from no fault of my own. My business credit score is ruined. I can not pay my SBA loan, and I have been rejected several times when I apply for business checking accounts for other banks, Bank of America refused to refund me even though it was their fault that they rejected my SBA disaster loan, and knew I had no income coming in as I am a small business owner. This is my second complaint date in fact, did not try to reach me. They closed my business checking accounts and it has been very hard for me since then.
Frequently Asked Questions
What is Complaint #7694664 about?
Complaint #7694664 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2023-10-13T12:00:00-05:00.
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.