Bank Of America Takes Back My Claim Money Because My Account Was Compromised Twice

Mahdi went through the upsetting ordeal of having her Bank of America checking account compromised, which was bad enough until of course, BOA found a way to make the whole thing even worse. Shocker.

She writes that in December last year, she noticed her account had charges totaling $1,168 at places like a gas station in Ohio, far from her home in Dallas. She then went through her statements with a banker and found an additional number of small charges adding up to $219. Reps at the bank said someone likely made a duplicate of her card or stole the info from a gas pump.

She called Bank of America from her branch to file a fraud claim, and was sent claim forms to be mailed in to the department. The next day, her total of $1,387 was refunded to her account. Great! But then not so much.

A month later, I look in my online account and I see they reversed $1,168 from my payment. I immediately called to find out what happened and explained to the agent that I had sent the paperwork. The Bank of America employee tells me since I filed two claims, one for $1,168 and one for $219, that under legislation I can’t file a claim within 60 days of each other.

I then ask the Bank of America rep let me speak to a manager. The manager tells me the same thing. At this point I am frustrated and angry that a bank that I do business with allows their customers to get robbed. I ask to speak to someone higher to get this resolved or I will be going to my local news and alerting the public via The Consumerist. The manager comes back and tells me that his manager is in a meeting and will call me back.

Of course, when it comes to taking back one of the claim payments, BOA went for the bigger one. Mahdi adds that she thinks no one should go through that kind of robbery and then deal with “smug bank employees,” and that she opened an account at her local credit union in preparation of closing her BOA account. It’s been three days, and still no call back from BOA.

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  1. gman863 says:

    The OP should file in small claims court. In most states, this type of shit would entitle her to triple damages.

    • Bob says:

      Then BoA won’t pay…..Then she will get to foreclose on that bank branch two years from now.

      Punishment comes limping!

      • tooluser says:

        In California, if you have a judgment against a business, you can hire the local sherriff to quite literally take money out of their tills. It’s not free, but considerably less than $1168 time 3.

    • ahecht says:

      Not just most states, all states. As posted below, the federal law governing this situation is at http://www.fdic.gov/regulations/laws/rules/6500-1350.html

      From that law is this section:

      e) If in any action under section 915, the court finds that–

      (1) the financial institution did not provisionally recredit a consumer’s account within the ten-day period specified in subsection (c), and the financial institution (A) did not make a good faith investigation of the alleged error, or (B) did not have a reasonable basis for believing that the consumer’s account was not in error; or

      (2) the financial institution knowingly and willfully concluded that the consumer’s account was not in error when such conclusion could not reasonably have been drawn from the evidence available to the financial institution at the time of its investigation,

      then the consumer shall be entitled to treble damages determined under section 915(a)(1).

  2. Shouhdes says:

    Why does anyone bank with them anymore?

    • areaman says:

      It’s like what Chris Rock said about being in a long term relationship…

      “Go and get kidnapped so we’ll have something new to talk about!!!”

    • evilpete says:

      I’ve had an account there since 1985,

      After over 25 years I am moving everything to Schwab

    • Difdi says:

      Because nobody thinks it could happen to them, they are a GOOD customer, after all!

      Of COURSE the bank values GOOD customers, and won’t screw them over. And they’re a GOOD customer, so they’re safe…until the bank proves them wrong, personally.

      Most people don’t go looking for “insert-name-here sucks” sites until after they get screwed.

  3. hansolo247 says:

    I think the legislation is that you are SOL if you take 60+ days to notify the bank.

    • Anathema777 says:

      It doesn’t sound like she took 60+ days to alert the bank, so I don’t think that’s the issue here.

    • crispyduck13 says:

      Reading is fundamental.

      • hansolo247 says:

        And I did read it.

        BOA called her out for doing 2 claims in a 60 day period, whereas the legislation is that if she doesn’t notify them in 60 days, she’s SOL.

        • Skyhawk says:

          As always, remember -

          Company policy =/= Law.

          It seems that BOA’s policy is a slimy way to deny claims.

          Unfortunately, many people think that Company policy = Law.

          BOA’s policy, as stated, defies the law.

  4. evilpete says:

    I like how they reversed the 1st claim only

    • The Porkchop Express says:

      I would think that if you can only file one claim in a 60 day period, it would reason that only the first claim stands. That would probably be how the courts would see it at least.

  5. Jerry Vandesic says:

    File a complaint with the OCC (Office of the Comptroller of the Currency, part of the US Treasury Department). They regulate BofA. OCC complaints are a big deal to any large bank. BofA has an entire team of people that responds to OCC complants, and tries to resolve them. Sometimes this might be seens as killing a mosquito with a bazooka, but that’s not the OPs problem.

    • tooluser says:

      Their stock is up 34% year-to-date. That’s a 3351% annual rate of return.

      If you had invested $550 in their stock on Jan 3, you could have bought 100 shares, and at the present rate of return, you’d have $18,500 by the end of the year.

      Sounds like anyone who didn’t invest in BAC is a sucker.

      Or at least that’s what they’d like you to think.

      Who “they” is, is left as an exercise for the reader.

    • BBBB says:

      When you do this, you might have to go two rounds of complaints to get a real response. The first round just requires the bank to respond to your complaint letter and it is not reviewed by the OCC. You have to go another round to state that the response is not acceptable and then the OCC will look into it. [This procedure saves the OCC a lot of work because most complaints are settled without OCC intervention.]

      The first response will probably be a letter restating their position and restating your complaint without admitting anything. I got a letter full you “You state that…. You say that….” without any admission that they did anything wrong.

  6. crispyduck13 says:

    Sounds like a job for an EECB.

  7. Fubish says: I don't know anything about it, but it seems to me... says:

    Did the manager’s manager ever get out of the meeting?

  8. msbask says:

    You can’t file a claim within 60 days of each other? How does that “legislation” make any sense? What if she notices more fraudulent transactions in January? She’s just SOL?

    That’s crazy.

    • sirwired says:

      The employee totally made that up.

    • Tyanna says:

      What I like is that the first rep helped her find it and fill out the claim. That a phone rep processed the claim and refunded her the money. I also like that the $219 was a sum of a number of small charges.

      So, she only filed one claim for many (more than 2) fraudulent charges. But only one of those transactions was reversed b/c of some rule that the first two to three reps didn’t know about.

      Sounds pretty like a giant load of BS to me. But then, the Golden Poo is coming up and I bet BoA wants to make sure they are near and dear to our hearts this year.

  9. sirwired says:

    “The Bank of America employee tells me since I filed two claims, one for $1,168 and one for $219, that under legislation I can’t file a claim within 60 days of each other. “

    Bullshit. No such legislation exists. Period. I’ve read the entire EFT Act before; trust me, it ain’t in there. Ask this employee for the USC citation for this alleged “law.”

    It’s federal agency and/or small claims time.

  10. UberGeek says:

    The sleeper has awakened.

  11. farker22 says:

    in the sequence of events the $219 should have been withdraw – you might have a payday lawsuit OP, grats!

  12. kent909 says:

    nyn tht bnks wth B dsrvs vrythng th gt. dn’t vn nd t rd th rtcl.

  13. ancientone567 says:

    Really come on can’t people, LEARN! Do what you need to do and bring them to court get the triple damage and prevent this from happening again by: DON’T DO BUSINESS WITH BANK OF AMERICA!!!! /Drops microphone on floor.

  14. StevePierce says:

    I don’t have a choice, I am stuck with BoA, they are my mortgage servicer and I am 60% underwater so I can’t refi.

    The things that BoA has done to screw up my account after my Wife got called to Military service now covers a 4 pages and is getting longer.

    Just this week, somehow they managed to change my mailing address to a state I haven’t lived in in nearly 46 years. Then they reported it to the credit bureaus. When I called BoA they told me I had to fix it. Only later did I learn that under Federal Law BoA has to fix it.

    So when I called about it they said they had already fixed the address. Then two days later they sent a overnight letter to yep you guessed the wrong address, turns out they hadn’t fixed it.

    Don’t even get me started about how the didn’t apply my payments correctly for two years and then when they did correct it, they did it wrong and made it worst.

    In one case after applying a payment to principal, the principal went up.

    When BoA looked at it, all they could say was “huh, that doesn’t make sense.”

    Oh, last October sent me a letter telling me to call them because I had fallen behind in my payments.

    I haven’t been late since the day we got the mortgage. Turns out BoA sent the wrong letter and instead sent the oh you are in trouble letter to everyone that was in good standing by mistake. They selected the wrong check box when generating the letter.

    Three weeks later got a letter saying never mind.

    I wish I could leave them.

    • Lyn Torden says:

      File the multi-page OCC complaint and sue them.

      These people are just totally incompetent. And their computers are incompetent, too.

    • ancientone567 says:

      Sounds like they are just fucking with you now. Sue em.

    • tbax929 says:

      I’m sorry you’re dealing with that.

      Every time a B of A story appears on here, you get troves of people saying “Just don’t bank with them!” They don’t understand that you don’t always have a choice.

      My mortgage was sold to them within a month of my closing on my house. They have (thankfully) since sold it to US Bank, but when B of A had my mortgage there was nothing I could do. Since I was at a 3.75 rate, re-financing made no sense. Not to mention, there was no guarantee B of A wouldn’t get their grubby hands on my mortgage again. I’m glad to be away from them…. for now.

  15. nearly_blind says:

    If you use your debit card or ATM card (its not clear which the OP is referring to) for anything except withdrawing cash from a well-known bank ATM (not a no-name ATM in a convenience store) then your taking a risk that the same thing will happen to you. Use a credit card or cash, never use a debit or ATM card except at a bank. If you don’t heed that advice you’ll regret it, because sooner or later you’ll be a victim of fraud, then have to beg the bank to refund YOUR money.
    As you can infer from my advice, I’m a very careful person but about every two years one of my credit card is “comprimised”, but with a credit card the money is stolen from the bank not me. It’s not withdrawn from my checking acount to be refunded later when and if the bank feels like it.

    • scoosdad says:

      Yep, for me it’s getting to be about once every 18 months that one of my credit cards is compromised somehow no matter how careful I am about using it. Happened again two weeks ago. I stopped using a bank-issued debit card a few years ago for everyday purchases and had them issue me a card that allowed ATM access only using my PIN, and started using a credit card for groceries, gas, etc.

      Banks are getting better about catching credit card fraud, if only because it’s their money. They noticed something funny with my Visa card right away and shut it down and called me within an hour. But somehow I feel that if that had been a debit card that was draining my personal savings, they wouldn’t have been so vigilant.

  16. geopapa says:

    Lesson learned… BOA sucks!!! They are only concerned with “wealth management”. That’s where the money is. The rest of the accounts are insignificant.

  17. SamiJ says:

    My ATM card does not have the Visa logo. You can request ATM only.

  18. Bryan Price says:

    I think the lesson for anybody reading, listening, hearing watching this is to never ever (and I try real hard to never ever use never ever) use BOA for anything.

  19. GrandizerGo says:

    Left them in December, I am still receiving offers from them. Not really bothered by that as it could have already been in the pipeline when i cancelled… Although I find it most interesting that a new debit card was sent to me and it arrived 5 days after I closed my accounts.
    My old card was not due to expire for more then a year, so no idea why they sent this.

    Credit Unions FTW

  20. amcfarla says:

    And we wonder why Bank of America is always in the running for the worst company in America award. Unfortunately I have to be a customer because my mortgage was sold to them, but past that I wouldn’t have anything to do with this bank.