Bank of America - Poor

Posted by melissa253 on 2012-10-25:

Why did you think it was your?

Posted by trmn8r on 2012-10-25:

I couldn't totally understand your complaint - are you saying that they incorrectly credited money to your account, and you assumed it was yours, and now that error has been detected? If so, I assume they can come back later and demand the money back. I may have misinterpreted what happened...

Posted by CUontheFlipSide on 2012-10-25:

How does it cost you anything? Did you spend the money that wasn't yours? That's called Unjust Enrichment, and if they determine that you knew the money wasn't yours, they can prosecute you. It will be pretty difficult to convince them that you genuinely thought the money was yours.

Posted by BigAl on 2012-10-25:

I am not sure what your complaint is. It sounds like Bank of America put money in your account that should have went into somebody elses account. Seven months later the mistake was corrected and the money was removed. What is your complaint?

Posted by Cwazychicken on 2012-10-26:

this has happened to me. And to avoid a situation like this, i always ask the bank if i feel something is incorrect, and they will double check it. Thats the easiest thing to do if you feel there is money in your bank that should not be there. Because they will eventually realize the mistake and take it back.

Posted by copper_works_ on 2012-10-26:

Good review! How inept is Bank of America? What about the person who really owned the money? How much misery was that person put through?

And saying this is a prosecutable offense is laughable. I'd love to meet the prosecutor who has time on their docket for this case. First of all they would have to prove the poster really didn't know the money was theirs. And who is going to make the charge, BofA?

Posted by ChuhBaca on 2012-10-26:

While I don't want to defend Bank of America (I believe, as an entity, they are epitome of the type of greed that is killing our economy, as well as lowering the national standard of customer service) this affects people.
If you see transaction in your account that is suspect, you should report it as soon as possible (credit or debit).
1. This will affect you down the line (as you have found) when B of A realizes their mistake and come after you for the money.
2. There is another person out there who is expecting this money and didn't receive it. Who knows what hardships that may cause.
3. By waiting until B of A has to come after you for the funds, the consequences for the employee that made the mistake will likely be worse than if it was corrected right away. Let's face it, we all make mistakes.

I don't like B of A. Did you really think such a greedy company would just say "go ahead and keep that money, since it was our mistake"?

I am voting this helpful because I think it is important for people to know that these financial institutions make every attempt to collect, even if it started by their mistake.

Posted by CUontheFlipSide on 2012-10-26:

Also not to defend BoA, but they act as a transfer agent for millions of cash transfers every day. Some are their own, and most are from other financial institutions or businesses. The error was caused by the originator of the transfer. If it was BoA, then shame on them, but the odds say that it was not.

Posted by madconsumer on 2012-10-26:

if money was placed into the wrong account, the issuer of the payment/deposit used the incorrect account number, not bank of america. sadly, account holders are the ones who are responsible for their accounts. whether good or bad.

best comment CUontheFlipSide!!