Consumer complaint received 2022-11-21
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Unable to open an account

Complaint:
Bank of America representatives wouldn't accept verification of my business for a business checking account, by requiring unattainable documentation. On XX/XX/2022 I went to the Bank of America branch at XXXX XXXX XXXX XXXX XXXX, XXXX XXXXXXXX to complete my online application to start a business account. When submitting the online application, the identification required was listed as my state id and social security card. When I arrived to the appointment with both forms of identification, Bank of America representative XXXX XXXX verified them, but said she couldn't access my online application? I explained I didn't have the EIN number on me, but I had entered it on the application. She insisted she couldn't access it. She then went to verify my business was indeed registered with the XXXX XXXX XXXX XXXX. I showed her an email from them regarding my submission to them, and she said she couldn't proceed until she can verify my business has completed registration. I rescheduled at that time for XX/XX/2022. On XX/XX/XXXX I gave the same representative, XXXX XXXX, my valid EIN number and presented a screen shot of my legitimate registration letter with the XXXX XXXX XXXX XXXX. I also emailed the receipt of having articles of organization created directly to her, as she requested. At that time, XXXX XXXX told me my EIN number was showing under a different company name than what I was presenting to her so she could not proceed with opening the business checking account? I explained only one EIN number is needed for numerous business, Im not supposed to have a separate EIN number for every business I own. I already advised them the checking account is for a second business and the EIN number is years old, and therefore has been established over time. At that time, she had her supervisor enter the office to explain I had to have a recent letter from the internal revenue service confirming my new second business is registered with them? I explained the internal revenue service hasn't had the ability to answer all calls since COVID? I even called them personally over the past two weeks to get any type of physical validation of my EIN number, and the IRS phone system says it can't process the call volume and hangs up on me. I also explained to her I can't list all my business names into one for the one EIN number. I'm sure the EIN number showed me as the owner, so it was confusing why they both wouldn't proceed. I have had one previous business checking account with them several years ago and the account was closed in good standing. I gave all documentation proving who I was. XXXX XXXXXXXX XXXX manager said she couldn't move forward without recent physical registration with internal revenue service for my new second business. I explained she was asking for documentation she knew full well I couldn't obtain, but she said again she couldn't move forward without it. I then asked to please open a personal checking account. XXXX XXXX said she could assist with that, and the manager left her office. XXXX XXXX gave me only two checking account options, a {$5.00} or {$1500.00} deposit minimum? I explained, {$5.00} to {$1500.00} is a big jump in deposit requirements? She replied she knew I was upset, but she would show me all checking account options on her tablet, instead of explaining each one. I advised her I wasn't mad or surprised, and at no point in our meeting did I display anger? At that time, XXXX XXXX had great difficulty signing onto her tablet and looked lost trying to navigate the technology? I didn't understand why all forms of identification weren't being honored?? I sincerely didn't trust, at that point, that my business was wanted? So I politely excused myself from the transaction.

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