Consumer complaint received 2023-11-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
To whom it may concern, I am writing to file a formal complaint against Bank of America for the unwarranted closure of my accounts and the freeze of my funds, which has caused significant personal and financial distress. I am a XXXX XXXX XXXXXXXX XXXX  at XXXXXXXX XXXX XXXX and I have been put in an extremely precarious position due to these actions by the bank. 

On XX/XX/2023, I opened both savings and checking accounts with Bank of America to manage my university stipends and cover daily expenses. On XX/XX/XXXX, I deposited a paper check for my first month 's stipend of {$6600.00} into my BoA account via an ATM. 

To my dismay, on XX/XX/XXXX, I found that my accounts were locked and my funds were frozen without any prior notice or justification. This situation was not resolved until XX/XX/XXXX, after numerous stressful communications with both Bank of America and XXXXXXXX XXXX and a complaint filed on the CFPB website on XX/XX/XXXX ( refer to complaint ID : XXXX ). 

After regaining access to my funds, I utilized my accounts for normal transactions, including daily expenses and a transfer of {$1500.00} to my XXXX account. All transactions were lawful and within the reasonable scope of use for a personal bank account. 

Shockingly, on XX/XX/XXXX, I discovered that my accounts had been closed again, and all my funds were held by Bank of America. Upon inquiring at a local branch, I was informed that the check I deposited on XX/XX/XXXX required another review. As of today, the entire balance, approximately {$2800.00}, remains unjustly frozen. 

The repeated closures and the ongoing freeze of my funds have not only hindered my ability to pay for basic living expenses but have also placed me in a state of continuous uncertainty and undue hardship. The bank has not provided any substantial reasoning or evidence of wrongdoing on my part to justify such severe actions. 

Enclosed are the following attachments for your review : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX  BoA. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  BoA. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX BoA. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX. 

I hereby demand the following actions from BoA : 1. Reopen my accounts as soon as possible.

2. Release the frozen balance in my checking and savings accounts promptly.

3. Given that this situation arose due to BoA 's errors, and I have not engaged in any fraudulent activity, I insist that this case should not have any negative impact on my credit history.

4. Furthermore, I seek an apology and appropriate compensation for the financial and emotional impact this has caused. 

Thank you for your attention to this urgent matter. I trust that the CFPB will address this issue with the seriousness it warrants and help me reach a fair resolution.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief