How Bank of America Gave Away My Money
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How Bank of America Gave Away My Money
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Re: How Bank of America Gave Away My Money
#2Yet another reason not to use one of the big 4 banks. Credit unions and local banks are the way to go.
Re: How Bank of America Gave Away My Money
#3I had the same problem with one of the biggest french bank.
I saw an important withdrawal on my account in a city where I wasn't. I called my bank and I explained the situation. They told me I'll get the money back in one day. I asked if I should change my credit card in case it was hacked, they told me calmy it was just an error on their part because another client had the same last name. I just couldn't believe it.
Re: How Bank of America Gave Away My Money
#4While BofA has its share of blame to absorb here, the specific issue is the lack of support for unusual names such as names containing whitespace. The issue may affect other banks, big or small. I for instance had once to deal with a banking application not supporting non-US phone numbers for 2FA, and yet positioned to serve customers 24x7 globally.
Re: How Bank of America Gave Away My Money
#5Yet another reason not to use one of the big 4 banks. Credit unions and local banks are the way to go.
In case of a financial crisis the big 4 banks are going to get bailed out. Credit unions and local banks maybe.
Re: How Bank of America Gave Away My Money
#6Was the bank really at fault here? From what I see they receive a legal letter from the Sheriff’s Department, and they complied with the letter. The article doesn't say what was included in the letter to the bank, I assume the author doesn't know either. It could have the wrong SSN, or the Sheriff’s Department just looked up the defendant's name, found the author's account number and SSN, and sent those to the bank.
Re: How Bank of America Gave Away My Money
#7Maybe try suing the bank in small claims court. They were clearly negligent.
Re: How Bank of America Gave Away My Money
#8Not sure if you have small claims court in America. In Canada for losses under 10000$ process is fairly straightforward. You should file and follow the process. If they don't give money back, go to the court and execute writ of seizure. One guy did this.
http://business.time.com/2011/06/06/homeowner-forecloses-on-...
Re: How Bank of America Gave Away My Money
#9What I don't get: Why would he pursue some court order he's not a party to? The only logical counterparty to this dispute is BoA. They gave away your money without proper title. That shouldn't hold up in court? That they gave some money to the LA Sheriff’s Department, that would be BoA to recoup.
Re: How Bank of America Gave Away My Money
#10Was the bank really at fault here? From what I see they receive a legal letter from the Sheriff’s Department, and they complied with the letter. The article doesn't say what was included in the letter to the bank, I assume the author doesn't know either. It could have the wrong SSN, or the Sheriff’s Department just looked up the defendant's name, found the author's account number and SSN, and sent those to the bank.
It's true, we don't know what was in the letter, but there was probably some information that didn't match.
Even if not, the bank still failed to notify him in time to contest the levy. That makes it their fault.