Checking or savings account -- Managing an account -- Complaint #6335537
Complaint Overview
Complaint ID: 6335537
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 93536
Date Received: 2022-12-18T12:00:00-05:00
Date Sent to Company: 2022-12-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
After opening an account with Bank of America my business deposited $ XXXX into the account and was told that there would be a hold on the account because the account was new. It has been over a year and any time we deposit funds over this $ XXXX there is an unreasonable hold length for 10 days which is not feasible for us to manage our business. On XX/XX/XXXX we deposited $ XXXX from the same vendor that we have always deposited money from for which they are telling us that funds are on hold until the XXXX of XXXX. This is unacceptable for a business ' checking for which we have to run payroll for employees.
Frequently Asked Questions
What is Complaint #6335537 about?
Complaint #6335537 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-12-18T12:00:00-05:00.
How did Bank Of America, National Association respond to this complaint?
The company responded with: "Closed with explanation". 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 Bank Of America, National Association?
Yes, visit the Bank Of America, National Association company profile at readthecomplaint.com/company/bank-of-america-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.