- Posts: 2
- Joined: Wed Nov 20, 2013 10:34 pm
- Location: Houston
Back in July I received my statement towards end of month and noticed almost $13,000 in unauthorized transactions from what appears to be foreign merchants. At first I was shocked and wondered how on earth my card wasn't frozen. Well on July 14th and the day before receiving my statement I actually did receive a call from B of A Fraud Detection. They put hold on card and needed to verify some transactions.
Funny thing is that the transactions they questioned were actually valid charges and were not a part of the $13,000 in question. I contacted the B of A fraud dept. and started a claim. This is my first time having to deal with this so I unfortunately placed too much faith in B of A. I was given a provisional credit and 2 - 3 weeks later received affidavit.
I signed it and noticed it was missing a few of the unauthorized charges so I added those and mailed it in. I received a letter day after sending in affidavit stating they were still waiting on my affidavit, so I called to let them know it was on it's way. When I told the rep I had additional charges not listed and needed to add them, she said she would have to start a new claim because the first one was closed. Naturally this was great news and it appeared to me that this process was proving fairly painless. Ha, little did I know at that time. A few weeks following that call I received a letter saying:
"Thank you for your recent inquiry regarding the above referenced claim. We have concluded our investigation and have determined that one or more merchant credit(s) posted to you account totaling $45.32. As a result, the temporary credit for $45.32 that was previously issued to your account will be debited from your account on September 21, 2013. We now consider your claim resolved."
Even more good news so I thought. Apparently, B of A uses the word claim loosely. When I read my claim was resolved, I didn't know it only meant that one charge. There were 69 charges on that one claim, so I would assume that if they were referencing that one transaction that they would have been more specific. I didn't learn this until the day came that I opened a letter stating that they found no error occurred and will be debiting my account. I called B of A and the rep said that they contacted (2) out of the (19) merchants and those two verified my name and address. Then she said that since they show I logged on to my online account during the time frame the transactions occurred that I would of been aware, assuming that I log on and actually proceed to scroll through transactions. Lastly, she said I verified charges when they contacted me back in July. I asked which charges and she didn't know. I requested that the claim be re-investigated, that an investigator contact me, and to send me the documents used to determine their decision. Due to B of A's lack of an investigation, I realized it was time for me to step it up. I wrote a letter refuting their decision, requesting it is re-opened, that I receive documents used, and that they provide more details of the supposed proof that supports their decision. Other issues I discovered were that the two merchants they said they contacted who verified my name and address are two of the merchants who issued me a credit. B of A was trying to tell me that those specific charges were valid because merchant had my info., so why would the merchant turn around and give me my money back? Of the (74) total charges, (22) had been credited, indicating that B of A did attempt to contact or start the chargeback process. If these charges were actually authorized, then why would almost a third of merchants issue credits so easily and how can B of A think the other almost identical type charges are authorized? Out of the (22) charges I received a credit for, I only received notification for (5) of those credits. For the (5) I did receive notification for, it appears that when the merchant issued credit, B of A recognized that the merchant issued a credit for a transaction involved in my claim, and could therefore consider that charge no longer a questionable item as well as debit my account for the temporary credit B of A issued. EFTA Sec. 205.11 Procedures for resolving errors.
(iii) Corrects the error, if any, within one business day after determining that an error occurred; and
(iv) Reports the results to the consumer within three business days after completing its investigation (including, if applicable, notice that a provisional credit has been made final).
Bank of America did not notify me at all of (17) credits issued back from merchants. When I received denial letter, the total amount of claim that was stated at the top still included these items. I’ve tracked every charge, debit, credit, very thoroughly and found that no major errors were made in regards to debiting me or crediting me, except for one credit that was issued by merchant, B of A debited their temp. credit twice. The other mistake was regarding a credit received by merchant that B of A said they would debit for temp. credit on Sept. 24th but did not do so until Oct. 27th. When I recently called back I asked why I still haven’t received documents and the rude rep says the documents they used are internal and only for them, that I don’t have permission or access to them and would have to have court issue subpoena to get them. I called numerous departments to get them to tell me the charges I verified back in July but no one could answer me.
I could go on and on. At this point it seems easier to push the fact that they have violated EFTA in order to get my money back as opposed to scrutinizing the transactions. At this point they have provided nothing of substance to me and continue to give me the run around. I’m finalizing a second letter that I will send out this week stating my expectations and their liability for violating EFTA. From what I understand according to EFTA is that if a financial institution violates a consumers rights during the resolution process (i.e. not providing the documents I requested), then I am entitled to refund of all the charges regardless of whether or not error occurred. Am I correct in my thinking? Does anyone have any advice that can help me with this since I’ve never dealt with it before and quite frankly it’s getting very time consuming.
Thanks for any help.