Money transfer, virtual currency, or money service -- Unauthorized transactions or other transaction problem -- Complaint #8232772
Complaint Overview
Complaint ID: 8232772
Company: Bank Of America, National Association
Product: Money transfer, virtual currency, or money service
Sub-Product: Mobile or digital wallet
Issue: Unauthorized transactions or other transaction problem
State: California
ZIP Code: 95032
Date Received: 2024-01-26T12:00:00-05:00
Date Sent to Company: 2024-01-26T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Long story short, while on vacation in XXXX XXXX, LA, I was robbed on the early morning of New Years Day of my phone and wallet. Before I could cancel all my credit and debit card accounts ( since I got locked out of everything immediately ), the thieves stole around {$14000.00} via ATM withdrawals, XXXX shopping sprees, XXXX transfers , etc. After promptly going to the police and notifying all my banks within hours of the theft, I have only received about half of the money stolen back. XXXX and XXXX XXXX reimbursed me right away with fraud insurance. However, there is still roughly {$7400.00} remaining of unauthorized transactions with Bank of America checking account ( and via XXXX on the B of A mobile app ) that has not been returned to me even though I never authorized any of those transactions whatsoever and did everything I could to notify B of A as soon as possible. I filed a fraud/theft claim with B of A on XX/XX/24 and they rejected it on XX/XX/24 ( after little to no investigation/interaction with me whatsoever ) stating " We're unable to approve your recent claim [ because ] .... the charge was authorized by you or made by someone who has permission to use the card or account '' which is an utter and complete lie. I filed an appeal trying to make it crystal clear I did not permit any of the stated transactions on XX/XX/24 ( with a turn around time of approximately XXXX business days. ) Fortunately, on XX/XX/24 XXXX of my 3 claims was credited back to me ( on XX/XX/24 I was owed {$9800.00}, now it's down to about {$7400.00}. There are still 2 ongoing claims with 2 different departments all within B of A ) but I wanted to get a CFPB claim started now based primarily on the large amount of money involved and how little due diligence was performed by the B of A Fraud Division prior to my appeal.
Frequently Asked Questions
What is Complaint #8232772 about?
Complaint #8232772 was filed against Bank Of America, National Association regarding Money transfer, virtual currency, or money service specifically about Unauthorized transactions or other transaction problem. It was received by the CFPB on 2024-01-26T12:00:00-05:00.
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 (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.