Issues with Bank of America: Some customers are reporting missing money from their accounts

CHICAGO– Some Bank of America customers have reported missing money from their accounts, including funds from Zelle deposits and transactions.

Rey Garcia has trusted Bank of America with his money for 20 years.

But, when he noticed that the problem was happening to others, he went to verify his own account.

I was surprised like whoa,” Garcia said. So I checked my transactions, I had about 15 different Zelle transactions. It was like a red flag for me because I don’t remember doing all of this in one day.

He says nearly $700 has disappeared from his account. He called customer service without success to find a representative.

Garcia tells ABC13 that he has pending transactions that should go out Thursday for his invoices.

I’ll have to go out there and dig into my savings account, which I don’t want to use, but those bills need to be paid, you know what I mean, he said.

A Bank of America spokesperson told ABC7 San Francisco that the issue has been resolved and deposits and transfers are starting to show up in customer accounts.

On Wednesday morning, many customers took to social media to vent their frustration and try to find answers.

“What’s going on there, the accounts are overdrawn???!!!!!” said a Twitter user.

“Where is my money!!! Negative account!!!!” said another.

DownDetector, a website that monitors website statuses, said “user reports indicate problems at Bank of America”, with the first reports submitted by users arriving at 1:42 a.m. on Wednesday, January 18. Sixty-six percent of the reports indicated that there was a problem with the “transfer of funds”.

BofA customers on social media are also reporting that when they try to call customer service, they receive a message that their call cannot be answered due to “extenuating circumstances”. At a Houston branch, a line of more than a dozen customers waited for help, with several saying their accounts were missing money. They tell ABC13 Houston they were told to call customer service, but they can’t reach the reps by phone, so they showed up in person.

“Has the whole customer service team on the phone been fired? I tried to reach someone via the helpline for 20 minutes with no success, even the anti-fraud line is down”, tweeted a customer.

Bank of America placed a warning on its app, saying, “Please note: Zelle transactions made between January 14 and January 17 may be delayed in executing and posting to accounts as requested. Transfers will be completed and appear in your account activity and balances as soon as possible. We apologize for any delays or inconvenience.”

The official BofA Support Twitter account, “@BofA_Help“, responded to a customer complaint with: “We apologize for a delay that has affected some transactions. Transfers are being finalized and will be displayed in your account activity and balances as soon as possible. Please do not initiate a duplicate transaction.”

Because some are missing the money that was sent through the in-app Zelle network, customers also tweeted about the Zelle help account. According to “@cellsupport” Account“The Zelle app and network are up and running. As one of our partner banks, Bank of America has full control over the Zelle functionality in its app. We do not have access to the profiles, payments, or records of associated individuals. with them.”

Senator Elizabeth Warren (D – Massachusetts) asked both Bank of America and Zelle to help their customers, Tweeter: “. @BankofAmerica and @Zelle are apparently failing customers again, with money somehow disappearing from accounts. This should be fixed immediately and customers should be compensated. I have reported of serious fraud issues on Zelle and this is their latest failure.”

Bank of America currently has approximately 67 million personal and small business customers in the United States. Zelle users are expected to reach 61.1 million in 2022, according to Insider Intelligence. Zelle, a peer-to-peer payment network, is owned by Early Warning Services, LLC, which itself is owned by Bank of America, Capital One, JPMorgan Chase, PNC, Truist, US Bank and Wells Fargo.

Bank of America and Zelle have seen an upsurge in fraud, with scammers tricking customers into sending them money through Zelle under the guise of “safeguarding” their funds at Bank of America.

This is a developing story. Check back for updates.