TLDR: Someone fraudulently withdrew $4,500 from my Bank of America account in person at a branch location using a card/pin that was skimmed - no photo ID was checked. I filed a police report but Bank of America automatically denied the claim. I asked them to review the video evidence but BofA refused. After several calls with BofA, they finally told me “the analyst has refused to pull the video. BofA’s policy only requires video evidence be pulled for claims exceeding $5,000. There is nothing more we can do for you.” Subsequently, I filed a complaint with the CFPB and Congresswoman Maloney's office, and BofA still denied the claim.
Why does r/BankOfAmerica not care about "small" fraud? I'm completely shocked by the way they treat their customers (been a customer for ~10 years) and, more importantly, that they allow fraud to go unchecked. I genuinely feel like my funds are not safe with r/BankOfAmerica. They simply won't investigate this fully because it's too small.
FULL EVENTS:
Aug 2018
I was sitting at home and noticed a withdrawal on my Bank of America checking account for $4,500 at a branch that was ~80 blocks away from my home. I have never been to that branch and would not need to go because there is a BofA branch within a 5 minute walk of my home. Called Bank of America immediately (while it was still pending) and filed a complaint.
Aug 2018 - Nov 2018
I called the check fraud department several times to ask for an update or ask if there was any other information I could provide to be helpful. They gave no update and said I should just wait because BofA has ~3 months to review the claim. No refund was provided on a conditional basis so I bore the loss the entire time (and still am bearing the loss).
Nov 24 2018 (Thanksgiving weekend)
I was notified that the claim was denied on the following grounds: “automatic denial because a pin and card were used.” No photo ID had been checked. I explained to the check fraud department that the card/PIN was obtained via a skimmer.
I asked if the video footage of the withdrawal was reviewed (because this was an in person withdrawal at a teller). The agent said they weren't sure but would request the video be pulled and the decision escalated.
Agent stated it would take another ~1 month to conduct the second review of the decision.
Mid December 2018
I called to check in on the status. No update.
The agent tells me now (for the first time) that a police report is a critical part of the bank's investigation and would go a long way to resolve the claim. I filed a police report with the NYPD and sent Bank of America the complaint number.
Jan 4, 2019
I called again because there was no follow up from BofA and was told that the claim was denied again: “automatic denial because a pin and card were used.”
I asked the agent if the video footage had been reviewed. She told me that the video had *NOT* been reviewed (despite my request, which was noted on the account) but that she would ask the analyst to review the footage while I waited on hold. After 5 minutes, she came back on the phone to tell me “the analyst has refused to pull the video. r/BankOfAmerica policy only requires video evidence be pulled for claims exceeding $5,000. There is nothing more we can do for you.”
I was stunned. Why is the policy to not fully investigate "small" fraud?
Subsequently, I've done the following:
- filed a claim with the CFPB
- notified Congresswoman Carolyn Maloney who filed a claim on my behalf
Jan 31, 2019
In response to CFPB and Congresswoman Maloney, Bank of America responds with another denial: "No bank error was identified with your claim review; therefore, we respectfully decline your request for reimbursement. We regret learning that you may have been a victim of fraud."
In other words, they only reviewed their own review of the claim and determined they followed their procedures and now are acknowledging that fraud may have occurred...they just don't care. They still haven't fully investigated the fraud.
What else can I do? I need to get this back. Any advice would be appreciated.
Submitted February 01, 2019 at 10:32AM by TheXplorer1 http://bit.ly/2UwVB8v
