Checking or savings account -- Managing an account -- Complaint #8651305
Complaint Overview
Complaint ID: 8651305
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Georgia
ZIP Code: 30274
Date Received: 2024-01-11T12:00:00-05:00
Date Sent to Company: 2024-03-28T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/XXXX I had an appointment to do my annual Distribution as I discovered that the bank had not done the distribution for year end XXXX. Upon meeting with XXXX XXXX and requesting that I needed to get this done before Year-end. XXXX XXXX informed me that I had to do my own Distribution. After explaining more than three times, that this was not a procedure that I should do, it was the responsibility of the IRA holder ; I left the bank and went to the Library to find information on how to figure the Distribution. I did a walk-in the following days trying to get this done. I telephoned the Bank everyday before the end of the year to no avail. I was able to secure another appointment for XX/XX/XXXX. Branch Manager, XXXX XXXX had me see XXXX XXXX who made a mess of the entire situation. The things that happened was as if I was XXXX XXXX XXXX XXXX who didnt know anything about IRAs. I explained to XXXX XXXX that I wanted to do a separate distribution, and rollover the remaining balance into another bank. Due to the manner which I was treated. He took it upon himself to rollover the entire balance, thereby charging me too much tax. Upon discovering this gross error by XXXX XXXX, I returned to the bank demanding that they fix their errors. To my dismay, XXXX XXXX XXXX informed me that their bank Internal Auditor, whom she refused to let me know her name, had told XXXX XXXX that he didnt have to do the distribution for me. That was a lie and Gross Negligence on Bank of Americas part. XXXX XXXX telephoned XXXX XXXX XXXX to ascertain how the situation could be fixed. He suggested to back date the transaction to XX/XX/XXXX, I deposit the check into an IRA, I make my own tax payment to the IRS, and he would refund the {$XXXX.XXXX} incorrect tax amount into my B of A checking account by XX/XX/XXXX. To date at this writing at XXXX hasnt transpired. I made it plain to XXXX XXXX that Bank of America should take full responsibility for this mess-up of a simple situation. I used the term simple, because it took me not more than 10 minutes to figure a distribution amount, and I had done this before. I lost 2 hours of work time. Bank of America should pay me for my time loss. Respectfully, XXXX XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #8651305 about?
Complaint #8651305 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-01-11T12:00:00-05:00.
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.