Checking or savings account -- Opening an account -- Complaint #8643954
Complaint Overview
Complaint ID: 8643954
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Opening an account
Sub-Issue: Didn't receive terms that were advertised
State: Illinois
ZIP Code: 60647
Date Received: 2024-03-27T12:00:00-05:00
Date Sent to Company: 2024-03-27T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I applied for a Bank of America Business advanced fundamentals checking account ( account ending # XXXX ) in XX/XX/XXXX under a {$200.00} promotional bonus offer being advertised. My account was approved and opened on XX/XX/XXXX. The terms of the promotional offer required depositing {$5000.00} or more in new funds within the first 30 days of account opening, and then maintaining that balance for the next 31-90 days. I deposited {$5000.00} to my account on XX/XX/XXXX and maintained at least the {$5000.00} balance through XX/XX/XXXX. Therefore, I have satisfied all of the requirements of the promotion in order to receive the {$200.00} bonus amount. Nonetheless, I still have not been credited the {$200.00} bonus to my checking account. I chatted with a Bank of America representative on XX/XX/XXXX to inquire on the status of receiving my {$200.00} bonus. The representative gave me no clear details around why the {$200.00} has not been issued to me yet and did not clarify at all what the status of my bonus payout is or when I could expect to receive it. I reiterated the terms of the promotion I signed up under several times and pointed out that I have fulfilled the promotion requirements. The representative simply told me that the 'reward is in review ' and then copy and pasted the promotion terms back to me which was useless of them to do given that I am aware of the promotion terms and had stated what they were to the representative myself earlier in our chat. Bank of America needs to review my business checking account immediately and rightfully credit the {$200.00} bonus amount to my account as I have properly satisfied the terms of the promotion which I signed up for when opening this account and the necessary amount of time ( 90 days from account opening ) has elapsed so the {$200.00} bonus should be credited to me by now.
Frequently Asked Questions
What is Complaint #8643954 about?
Complaint #8643954 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2024-03-27T12:00:00-05:00.
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.