Checking or savings account -- Closing an account -- Complaint #9020551
Complaint Overview
Complaint ID: 9020551
Company: Bank Of America, National Association
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Funds not received from closed account
State: Texas
ZIP Code: 78753
Date Received: 2024-05-15T12:00:00-05:00
Date Sent to Company: 2024-05-15T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The situation is alarming. Yesterday, I was unable to log in to my online banking for Bank of America. It stated that my account was locked for security reasons. Upon calling, I was informed that they had closed my account, citing that 'Bank of America can close anyone 's account at any time and without notice, ' thus terminating our business relationship. While I was not particularly concerned about banking with them, I urgently needed access to my funds. However, they informed me that they would withhold my funds until XX/XX/year>, and 10 business days thereafter before issuing a check by mail. I insisted on expedited processing within 1-3 business days, as I believe that no bank can hold individuals ' funds without a court order. Legally, they are not entitled to do so. Additionally, I want to address the discriminatory practices of this bank, which has a reputation for targeting minorities and exhibiting XXXX XXXX
Frequently Asked Questions
What is Complaint #9020551 about?
Complaint #9020551 was filed against Bank Of America, National Association regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2024-05-15T12:00:00-05:00.
How did Bank Of America, 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 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.