Bank of America E-Commerce Fraud Department Out of Control - Bank of America Customer Service Message Board Discussions on Bank Of America Sucks : Official Bank of America consumer opinion site :

MichaelCaditz

Bank of America debited my checking account nearly one million dollars, and they flatly refuse to remove the debit.

This is no joke.

My father, who lives in California and banks with B of A, is traveling in a rural area near Manila, Philippines. We need to transfer some funds from him to me. I went to my local B of A branch and was told that an easy way to do that was for me to open a B of A checking account; then my father could do a simple online banking transfer from his account to mine. So I opened a B of A checking account with a mere $40 deposit.

Meanwhile, my father scrounged for an internet connection and made an online banking transfer of $1,000 from his B of A checking account to my B of A checking account--legitimate family transaction, same last name on both accounts.

The transaction triggered a B of A fraud alert, and a pop-up window asked my Dad to call a phone number to verify the transaction. He could not call, because his prepaid SIM card minutes ran out (and cannot replenish the for several days until he gets back to Manila).

So B of A Fraud Department debited my account $888,888.88. I am not kidding; I have a screen shot of my online statement to prove it. After spending hours on the phone with B of A trying to get to the right department and being told wrong information (such as "the government put a levy on your account"), I was told that only my father calling could satisfy them. I got a hold of my Dad (because he can receive INCOMING calls) and did a 3-way call to B of A Fraud Dept. My Dad and I, both on the line, told the 'investigator' the situation. The investigator REFUSED to reverse the nearly million dollar debit, saying he will not accept 3-way phone calls.

So here I sit, with an account balance of MINUS almost a million dollars, all because of a perfectly legitimate, simple $1,000 transfer which B of A cannot distinguish from a non-existent million-dollar international fraud schemef

awakenow

That might have been triggered by Dept. of Homeland Security guidelines?
On the flip side, having that much money debited back will probably trigger an ATF or IRS investigation.

What a mess! Hope that you get it straightened out!

[Deleted User]

I can't speak for the validity of the transfer or the hold but BoA typically placing a large debit on the account as you mentioned when it suspects fraud of some type. This effectively freezes the account so no money can be withdrawn. Funds in this amount will not be credit to the account and it's no unusual to see this type of debit placed on an account in order to freeze it.

bankergranny

I can't speak for the validity of the transfer or the hold but BoA typically placing a large debit on the account as you mentioned when it suspects fraud of some type. This effectively freezes the account so no money can be withdrawn. Funds in this amount will not be credit to the account and it's no unusual to see this type of debit placed on an account in order to freeze it.

Tcope is right, that is the way a bank (any bank) freezes an account in an attempt to freeze any out going activity or any incoming activity that will free amounts under, $888,888,88! Awake is also right but not only Dept. of Homeland Security but also Secret Service/Dept of Treasury that investigates money laundering. More than likely the issue was not a BofA to Bofa transfer but the source of funds for the $1000 (probably Philippine money transfer) that now created a transfer into a "new" BofA account. Last names do not guarantee that all is kosher! Esp if the IP is foreign!

Afterall it's not an account closure, it's an account hold pending an explanation, right? As for the SIM card, oh my god, how much are international rates from the Philippines, with the number of Filipinos in the US the rates cant be above 10cents a minute, and BofA also has toll free numbers to call from any land line in the Philippines, call customer service and get them and give them to your dad! The longer he waits the worse it looks! Why are you indignant when in your own words you indicated a HOLD and a call that your dad just call to explain the transaction! How unreasonable can you be? How immature of you!

(By the way, CathyG and others continually equate bad grammar and bad syntax and the lack of spelling as an indicator that some posters are one and the same, so I ask, did anyone notice TCopes grammar, syntax and spelling, I wonder who is contributing as him today?)

smallbig

I can't speak for the validity of the transfer or the hold but BoA typically placing a large debit on the account as you mentioned when it suspects fraud of some type. This effectively freezes the account so no money can be withdrawn. Funds in this amount will not be credit to the account and it's no unusual to see this type of debit placed on an account in order to freeze it.
I can't speak for the validity of the transfer or the hold but BoA typically placing a large debit on the account as you mentioned when it suspects fraud of some type. This effectively freezes the account so no money can be withdrawn. Funds in this amount will not be credit to the account and it's no unusual to see this type of debit placed on an account in order to freeze it.
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hahahuhu

I can tell you that Bank of america has really made a colossal blunder turning off the ability to make wire transfers at bank centers and migrating it to the weibsite. Whoever was in charge of this project needs to be fired. BofA will lose lots of business over this. The managers failed to properly project the volume of calls the fraud detection would generate, and so they failed to have appropriate staffing levels. Hold times of 40 and 50 minutes are the norm. Wire transfers that customers did regularly at bank centers are being flagged as possible fraud because they appear to be new payees. Customers supposedly get a message on line telling them to call to verify the transaction, but it must not be presented in a way that communicates the urgency. Even if it did, when the customers call they have that insane hold time. Then they get an email that says the transaction is on hold to review it for completeness. Then it says to call the 888-436-8828 for more information, but there is nothing that suggests it is urgent that they call to verify the transfer, otherwise it will be cancelled by 5pm the next business day. If the customer manages to get through, they have to answer about 5-6 security questions. If they requested a same day wire transfer before 5pm ET, but they don't get through until after 5pm, the transfer won't be processed til the next business day. Employees are not getting paid by their employers, home buyers are losing their down payments because the transfers of the settlement funds don't get sent, businesses are not able to pay their vendors. IT"S A DISGRACE!! The call center employees on the front line were rushed through training just to get people on the phones, so they are poorly prepared to actually do their jobs and detect real fraud. And if a customer has any questions about how to use the website to process a wire, they have to be transferred to yet another department. There should be a class action lawsuit against Bank of America to compensate these people and businesses that have lost money, homes and vendors.

ImABofAMgr

I think YOU need to be fired for loss of IQ! Who the hell pays their home loan via a wire transfer and if the banking centers arent truly turning off wires until sometime in October (which they aren't) then why would they lose thier homes in Aug when the service went live on July 16? Where were they before that? LOL

Look I answered you nicely in your other post but when you're gonna post the same thing in multiple places and dont truly know yourself what is going on behidn the scenes (because you don't) then basically you are an irresponsible moron and I tell you that from the bottom of my heart and with all the sincerity of your priest or minister..

Yes, I agree that the product should run parallel and maybe it should for a while, but unless you know what is going on and why the "surprise developments" you should really S H UT your mouth, and as for advocating class action suits? over What exactly? They can STILL go into branch and do a wire transfer, and again they are not losing their home in August because of a wire transfer they cant do now.

hahahuhu

In a previous post I deleted the part where I called you a clueless manager because I avoid ad hominem remarks. Now you have demonstrated not only how clueless and stupid you are, but also the typical blame the customer attitude that prevails at BofA. I didn't say anything about making a payment on a home loan, I mentioned cases where people are wiring funds for the settlement, and the funds don't get sent and they lose their downpayment because they werent able to get through to speak to anyone because of the 50 minute hold time. IF they see the email that doesnt even really make it clear they MUST call. And why shouldn't they be able to do wire funds?? You are an ignorant slimeball, no wonder you are a manager at bofa. You will certainly go far at BofA. I DARE YOU TO SPEND A DAY ON THE PHONES IN FRAUD DETECTION.

ImABofAMgr

so now let me get this right..."people are losing their homes ...." means to everyone, "people are losing their down payment because of a delay at escrow closing.."...

First of all, let me set you straight, ok? No one loses a down payment unless they back out of a home purchase, ok? The worse thing they get is a perdiem penalty that can always (and usually is) be waived when the delay in the settlement for close of escrow has come from something that is out of the buyers control--like a delayed wire. And who the hell said it was the customer' fault.

I think if you read the post about the wire feature that you started I agreed with you 100% and also agreed that the process hit some bumps that should have been anticipated and I told you that wires are STILL an option in the banking centers and I told you that more than likely that will continue through the end of 2009 and into 2010...right?

I also told you some products should run parallel in the banking center as well as online banking--now if all that makes ME stupid, then you, woman (an assumption) really should go get that IQ leak checked out, you're running on empty--not just S H UT up with the BS, especially when the people you're arguing with, AGREE WITH YOU-!

hahahuhu

i think you really love me for my feminine ignorance <blush> :roll:

ImABofAMgr

Woman you are soooo SCHIZO....in one post about this you call me a moron, and here you have a sense of humor...remember now you're supposed to be ME..they all think you're me and that I'm you and that you and I are everyone else...we're the TROLLS remember? According to Cathy!G

SpudNuts

ImABofAMgr,

I really hope your not a real BOA manager, if you are, I feel sorry for you. I am currently going through a ecommerce fraud case where someone was able to compromise my checking account and empty it. I have been on the phone with fraud detection, ecommerce fraud, and online fraud for the last 5 days (sometimes on the phone, physical handset, against my skull for 6 to 7 hours) trying to get this resolved. Your companies practice of tossing the customer from ear to ear is discustingly atrocious. No one wants to take responsible for anything and no one has a clue how to take care of the customer. Your fraud rate is second in the country, your ecommerce protection is worse then the average internet user workstation and your customer service has to be the worse on the planet.

Once the bank was able to get my money back, there was a hold on the account ($8,888,888.88). We needed to have the hold lifted so we could move what little money we had left over to our new account (The funds that were stolen were still in a pending status). Thanks to a lack of communications in BOA, the account didn't get re-locked and that night, the transfers were submitted again and forced transferred. Now, we are in this endless fight with BOA on who has responsibility for this and who can get our money back. Another 7 hour phone call and we still don't have our money. I have no idea how the bank can expect their customers to go without their money for an infinate amount of time while the investigation goes on. I'll bet that if your CEO had his million dollar check stolen that he'd be refunded immediately. I WANT MY MONEY BACK and your bank's lack of security and customer service is the reason i'm PISSED!!!

I'm sick of hearing that it will take 7-10 days to have the funds returned, if I bounce a check, you sure as hell don't wait 7-10 days to take your fees. I do have to thank at least 1 BOA employee who has been helping me since yestarday, she has been dedicated to my cause and working beyond her duties to help me but for everyone else, YOU SUCK.

ImABofAMgr

Thank you...

And I feel sorry for you, you obviously lack the IQ to be able to adequately articulate your issue, honestly, personally, I dont know what the hell you're talking about and I'm sure few others do as well. Why do you feel sorry for me, when all I've said is that yes, online wire transfers are running into some unexpected security glitches, too much security and are having some problems right now, although I'd say the volume of issues is dramatically less now, this last 5 days than the first 5 days into the process---so what did I say that makes you feel sorry for me when I agree that a process should remain parallell in the banks and that yes there are some issue now.

So let's see Bank of America's ecommerce rate is the 2nd highest in the nation? Is that why more customers use online banking for transfers than any other bank IN THE WORLD? where do you get your figure? LOL You are such a nitwit dude, seriously, totally--the fraud rate is 2nd highest, thats why we are pioneering 3rd party transfers and online wire trasfers and international wires too, because we have sooooooooooo muccccccccccch..fraud?

Look review your story numbskull, go back and do another imagineary 20 hours on the phone with yourself and come back to revise your question, and then and only then will you get any of my time. No one is going to keep you on the phone, idiot, for 7 hours AND go back and investigate with you on hold. No one! Just who do you think you're jerking around here. Here its not the average Joe Schmoe like you, there are people that deal with these things day in and day out here too.

Since you have someone dedicated, stick to that person, ok? And once you get the funds back either on a provisional or final basis come back and tell us what really happened, even if you can muster the ability to be remotely articulate. And by the way, when it's e-commerce, the other bank is involved too,right? Afterall BofA is not sending money to itself. What happend by the bank on the other end, to what extent is their involvement in any of this---don't forget it takes two to tie YOUR shoe since obviousy you can't do it on your own.

Teensy

[quote="SpudNuts"]I'm sick of hearing that it will take 7-10 days to have the funds returned, if I bounce a check, you sure as hell don't wait 7-10 days to take your fees.

Actually the check won't bounce. They'll pay it, and charge you an overdraft fee. And if you don't pay it back in 5 days, they'll hit you with another fee, so yeah, by 7-10 days you'll probably have an indelible mark on your credit report.

So when you get your money back, remind them of the fees that you would have charged them for mistakenly taking their money if you were a bank like them, and that if you had accidentally taken the same amount of money from them that they took from you, you most likely would have been charged with grand larceny. Then, let them know that their reputation is permanently ruined with you. Being without money is stressful and humiliating, and the fact that you have to sit through phone bank hell to get it back is inexcusable.

bankergranny

Teensy, the bank doesn't idly charge anyone with bank larceny, nor does a bounced check go on your credit report. Banks don't report Overdraft occasions to credit reporting agencies, and the people you give your check don't either unless you don't make good on it and it goes to a collection agency, so I don't know why you're telling him he would have a mark on his credit report after 7-10 days. That is truly the wrong information.

Here you a situation opposite to the one we see in the post "HELP!" by GetLiquid and again we have complaints. Here the bank is taking the action to suspend, for some reason, a P2P (PeertoPeer) ecommerce funds transfer because of the possibility of suspected fraud into the accounts in the Philippines. So the bank here is exercising precaution to prevent fraud and here again, the bank is at fault.

Sounds to me like no matter what, lack of safeguards, actual safeguards, non implementation of safeguards, non application of safeguards, the bank will always be at fault, and many, like you will again lament on behalf of the account holder and side with the supposedly humiliated customer regardless of the facts. The bank is damned if it does, and damned if it doesn't and right now I have to tell you that inspite of our original exchanges, I am more than just a little disappointed in your posts. It seems the longer you interract with the likes of the current "Gang-of-4" the more your objectivity fades. It's too bad really.

Teensy

Granny,

The point is, mistakes happen, both by the bank and by the customer. When the customer makes a mistake he pays. When the bank makes a mistake, the customer pays, in frustration and worry, not to mention time. The onus is on him/her to convince the bank to give the money back, to convince the people to whom he owes money to hang on, and to convince his family that they can go 7-10 days without groceries. Is the customer compensated for the mistake? Entitled to extract a fee for his/her trouble? A bank can handle an overdraft. It's not going to bring the organization to it's knees. A family can't handle all of their money disappearing into thin air. Wouldn't you want heads to roll if it happened to you?

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