Checking or savings account -- Closing an account -- Complaint #4494501
Complaint Overview
Complaint ID: 4494501
Company: BMO Bank National Association
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Can't close your account
State: Texas
ZIP Code: 78258
Date Received: 2021-06-27T12:00:00-05:00
Date Sent to Company: 2021-06-27T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have checking and savings accounts with BMO Harris, which I rarely interact with. Had around $ XXXX {$700.00} balance in both accounts combined. My accounts were no maintenance fee accounts. Hence, I was not concerned with putting more money in the account. BMO Harris decided to add a minimum balance requirement and change the fee structure of the accounts and started charging me monthly maintenance fees without due notification. I was told that it was disclosed as a statement message. I decided to close my accounts. I called multiple times to BMO Harris and tried to close my accounts - they closed my checking account with one representative warning me that the account will be closed but might reopen on its own if a transaction posts to the account and would result in overdraft fees which I will be liable to pay. To which I asked the representative to make sure no transaction posts/decline all transactions - I was told that it can not be done, I am responsible to make sure no transaction can post to the account. My savings accounts with a balance of around {$300.00} was not closed, and then, I realized there was a debit transaction equal to balance, that made the account balance XXXX. When I called for asking what this transaction was, I was told I failed verification, I was told they sent me a text to my mobile phone for verification, which I never received. I asked the them to resend the text, which they declined saying its a one time thing regardless of why the text message could have failed to deliver. Now I am being asked to go to a notary and get my id verified. I can not expose myself to COVID trying to get my id notarized.
Frequently Asked Questions
What is Complaint #4494501 about?
Complaint #4494501 was filed against BMO Bank National Association regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2021-06-27T12:00:00-05:00.
How did BMO Bank National Association respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against BMO Bank National Association?
Yes, visit the BMO Bank National Association company profile at readthecomplaint.com/company/bmo-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.