Bank of America Online and Mobile Banking FAQs (2024)

FAQs

Why can't I access my Bank of America account online? ›

Having problems signing in or resetting your Password? Check your password requirements. It should be at least 8 characters consisting of at least 1 uppercase letter, 1 lowercase letter and 1 number. Check your User ID.

Bank of America Corporate Information Security requires that a minimum of six challenge questions be established when used to verify your identity.

No, we are not detecting any problems with Bank of America right now.

Top security challenges and risks of mobile banking include: Phishing attacks. Vulnerabilities in conventional authentication methods and systems. Device theft and unauthorized access.

Make sure you have cleared temporary internet files and cookies and your browser has extensions and add-ons disabled. If needed, also try restarting your device and router, and try a wired connection.

The error message “Account Temporarily Unavailable” could mean there is a connection issue or the site has been taken down for maintenance. If you close the site and reopen it the message will usually go away, and you can continue with your transaction.

The 3/12 Rule expands on the previously mentioned 2/3/4 Rule by stipulating that a cardmember will not be approved for any new personal or business credit card by BoA if they have opened three or more new credit cards in the past 12 months.

The CFPB has taken numerous actions against Bank of America for violating federal law. In July 2023, the CFPB and the Office of the Comptroller of the Currency (OCC) ordered Bank of America to pay over $200 million for illegally charging junk fees, withholding credit card rewards, and opening fake accounts.

Weaknesses. High Levels of Debt: Despite its strong balance sheet, BAC has high levels of debt, which could pose financial risks. High debt levels can increase the company's interest expenses and reduce its financial flexibility, potentially impacting its profitability and ability to invest in growth opportunities.

Online banking is at risk of cybersecurity threats that could expose confidential and sensitive financial information of the customer. Hackers use various tactics like phishing attacks, malware, and ransomware to gain unauthorized access to accounts.

Why can't I access my bank account? ›

Bank accounts are typically frozen for suspected illegal activity, a creditor seeking payment, or by government request. A frozen account may also be a sign that you've been a victim of identity theft. Each situation requires specific actions to unfreeze the account.

Unlock Account. Enter your WL User ID, E-mail Address and Phone Number. This information must match what is currently setup in your WL Profile. The result of the requested action will be sent to this E-mail address.

Even if you don't download a fraudulent banking app, scammers can still gain access to your accounts through other malware-infected apps. Hackers use a type of malware called “keyloggers” that record all the information you type into your phone — including bank accounts and passwords.

Security and fraud instances: This is one of the most significant challenges for banks promoting online banking.

Bank accounts are typically frozen for suspected illegal activity, a creditor seeking payment, or by government request. A frozen account may also be a sign that you've been a victim of identity theft. Each situation requires specific actions to unfreeze the account.

Most anyone can apply to open an account. But it's up to individual banks if they want to let you open an account with them. That means some banks might deny applications from people with a history of unpaid negative balances, involuntary account closures or suspected fraud issues.

Your bank account might be frozen if you've entered your password incorrectly a few times, or if your account has been accessed by hackers or scammers.

As part of Bank of America's proactive monitoring, we have observed a potential risk related to your account. For your protection, we have locked your access as a precaution and require you to reset your password.