Consumer complaint received 2019-07-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MN
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
Dear Sirs, Nothing happened. Bank of American treated me like a XXXX. I believe this bank is conducting extreme violations. Therefore : I wish to be on record in order to describe my experience with Bank of America business checking accounts. The follow are the detailed chronological events as they occurred. I have never had this experience in my 30 years of banking. 

I believe regulatory actions should be taken against Bank of America. 

Beginning a XX/XX/2019, I spoke in detail to a bank employee about how I run my business accounts. This is how I transacted business at my other corresponding banks without adverse consequences. He never stated to me I needed to do otherwise at Bank of America. 

While using the debit cards, I began getting numerous declines for common business expenses. For example, I received a decline while purchasing a XXXX XXXX XXXX for the business network. This was a Saturday. I called customer service and they stated to me it takes 90 days for Bank of America to get to know a customer. The women laughed and stated you just opened up these accounts and you have a long ways to go. 

I stated to this women, how a transact business. I stated a lot of times if there is no money in the account on Saturday and Sunday, I may go out for lunch or purchase business supplies. This would create a debit in the business account. I would then wire the money in on Monday to cover the debit balance. 

I asked this customer service women if that was ok as I did the original banking rep when I opened my accounts. She stated yes it is ok and there is a limit of about {$200.00}. I stated ok because that is about what I would spend. 

I received another decline while purchasing lunch. I called customer service and the person stated it was because Bank of America was getting to know my purchases. I stated this purchase was for lunch for about {$100.00}. I stated it is not as though I am purchasing a {$1000.00} plus service. 

I wish to be on record, illustrating, I received numerous overdrafts. More at this bank in two months than I have received in 30 years. 

Next, I received two letters via regular mail. I initially thought they were apologies for the unusual experience I have never experienced with the other corresponding national banks ( ie several purchase declines and several overdraft fees. ) These two letters stated I have 22 days to close my two business accounts and move the money. I was shocked I have never experienced this type of service. While speaking to the original banker who opened the account and to customer service while getting purchase declines and overdraft fees they never informed me I could not transact business the way I did - I have done business the same way for 30 years at the other national banks. 

Also, the women customer service women stated it takes 90 days to get to know the customer. The bank sent me the two letters prior to the 90 day grace period. 

Also, I have requested to have all bank statements emailed to me in order for my legal department to review. To this date they have only sent half of them. I have called them twice - the first time was a women and the second time I spoke to a male. 

I wish to point out the business accounts are highly coveted at the other national banks because of the transactions they generate. 

I believe my experience should be reviewed thoroughly and regulatory action should be taken against Bank of America.

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