Consumer complaint received 2018-03-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-issue: Deposits or withdrawals

Complaint:
After a recent move, found among important papers was a {$1000.00} ( 6 month ) Certificate of Deposit, # XXXX, issued XX/XX/XXXX, by XXXX XXXX XXXX XXXX ( NJ ). I took the CD to what was XXXX XXXX XXXX XXXX ( now Bank of America ) in XX/XX/XXXX ; they had no record and surmised the funds were " escheated '' to State of NJ and as a service, sent them a request. I received a letter from NJ Dept of Treasury, Unclaimed Property Administration, on XX/XX/XXXX, claim # XXXX, stating " unable to locate, '' send further information. They had all the information, a copy of the CD. 
On XX/XX/XXXX. XXXX, we ( wife and I ) went to my local Bank of America branch, XXXX, NJ. The helpful customer service agent re-submitted my claim to State of NJ, and Bank of America research department, Records Management, and said the bank manager would call me within two days. Instead, the bank finance officer called and said there was no record, they destroy records of accounts that have been inactive for seven years. I told him that my account was opened around XXXX and has never been inactive ; with the same account number, ( and a valid mailing address ( until XX/XX/XXXX ) on the CD ). He kept repeating that they have no records of accounts inactive for seven years, again and again. I told him my account was never inactive ; and I have a record, the CD ; I purchased it for security and safety, and if the records are lost, I still am insured against loss. He refused to listen, much less offer any help. The manager never called. 
On XX/XX/XXXX, we returned to the XXXX branch ( BofA ), and another request was resubmitted, and we should expect a " call from Corporate '' by XX/XX/XXXX. No call. 
About 2 weeks later, I received a letter from the research department, they were unable to find an active account! I called BofA Customer Service ( XX/XX/XXXX, XXXX ), and through a number of transfers, reached the CD department. I explained my situation, and after a number of times on hold ( the agent conferring with others ), I was told that inactive accounts were closed after 7 years. I told him " it's not inactive '' and after further consultation, he returned that they destroyed all accounts, active and inactive. I asked to speak to a supervisor ; his " team leader '' would call me later. I asked for a call back number. he refused. 
I have been told along the way, good luck getting your money, many have tried, but have given up after the run arounds, lies, and stonewalling. I have been a loyal customer for at least thirty years ( actually I opened an account there in XXXX after retiring from the Air Force ), loyal through all the changes from XXXX XXXX XXXX XXXX to XXXX XXXX XXXX  and XXXX XXXX XXXX or XXXX XXXX and more. Same account number and mailing address and phone number. 

P.S. I do have copies of correspondence mentioned above, including the XXXX XXXX which has my SSAN on it ; but so does Bank of America, and many phone calls, recorded to mprove service. I will have to Fax what you need. ( I'm not very computer literate )

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 explanation