Bank of America/Reg E Dispute - Bank of America Customer Service Message Board Discussions on Bank Of America Sucks : Official Bank of America consumer opinion site :

vilraj

So I submitted a claim to Bank of America about an unauthorized transaction on my debit card and while they were investigating it, they never provisionally credited my account - it took them 17 days. Would that not be an issue with Regulation E? They said it was a courtesy and not required when I asked them about this. I heard this from a supervisor and a customer service rep.

I have filed with the OCC, for this and the overdraft fees associated with it. I received a credit for the overdraft fees and I received a call from a VP, but I am not able to have my cell phone at work so I did not get the voicemail until after the office was closed. I called her back and left voicemails but I have not heard back from her.

What should I do? I have emailed Brian Moynihan, but was not sure if this was a way to go about it.

BossMan

BofA always..and I mean ALWAYS provides a provisional credit immediately by the next day. In fact, it is one of the few (if any) banks that do this. Banks are required to resolve the issue but they are not required to provide a provisional credit. A lot of it depends on the type of transaction, some transactions require a provisional credit by resolution others within 10 days etc. But thats a moot point since the bank does provide a provisional credit in all cases that is available to you by the next business day.

And if you got a refund on the fees, why did you go to the OCC for what exactly? What were you disputing? Was it a transaction that was a purchase or was it a withdrawal with your own personal pin?
Was the claim denied by VISA? What exactly happened because if the claim is invalid you would not get the fees back and if the claim is valid the fees are always part of the claim.

xstortionist

BofA always..and I mean ALWAYS provides a provisional credit immediately by the next day.

That's a lie, took 7 days to get my money back, and no credit was issued, and no transactions were pending. The branch manager told me that someone stole my info at a gas station, come to find out, it was kids from australia, hackers who stole thousands of peoples bank account information, all through simple hack attacks. Fuckin idiot.

transylvania777

Actually, you are all wrong. Read up on Regulation E, which covers debit card claims. Per Regulation E, all financial institutions are required to provide a provisional credit IF your dispute/claim has NOT been resolved within 10 business days from the date that your claim was filed. For any claim, the transaction must be posted to your account because a claim can not be filed on a pending transaction. If you are disputing an ACH transaction, you must send back an affidavit before a provisional credit can be granted. If your affidavit is returned within the first 10 business days, then you will have a provisional credit by the 10th business day from the date your claim was filed. If your affidavit is received AFTER the 10th business day, financial institutions are not required to provide any credits until your dispute is resolved. Regardless of the type of claim (debit or ACH), all related fees will be refunded within two business days of the provisional credit posting to your account.

alyissinful

WHO was wrong, what you're saying is right Transyl but what Bossman said is right too we do put it in right away. I see what you said about required in 10 days but I've had a two claims with a alocal credit union and they made me wait until it was resolved. They were both less than $20 so it didn't bother me, but before I went to BofA Wells Fargo made me wait 10 days for a credit and they're not small.

Bank of America will take the provisional credit back if you don't get the REG E dispute claim back to them by week 4 or 5 and when they reopen the claim they will not put the money in again until it is resolved.

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