Consumer complaint received 2019-01-17
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX - XXXX ) This is going on as I write. I paid a loan check of {$2900.00} into my account on Friday, XX/XX/2019, shortly after making the payment I saw an email from the Bank ( Bank of America ) advising that my account had gone {$150.00} overdrawn. I called the Bank to discuss the situation and spoke to an associate who assured me she could see my check and that the account will balance out in a few days, and everything will be fine. 

The weekend went by, and because I had not heard anything to the contrary by Monday, XX/XX/XXXX, I paid two overdue accounts ( {$710.00} & {$200.00} ) that were attracting late payment fees. By Tuesday, XX/XX/XXXX Bank of America was still reporting that my account was {$150.00} overdrawn and saying nothing whatsoever about the {$2900.00} which I had paid some 4 days before. I logged into my online account and discovered that the Bank was holding the check and that was it. I called the Bank to inquire about what was going on, and at that point, the Bank associate who I spoke after asking me if I had made a payment from that source before? To which I answered yes. The associate proceeded to simply lie to me - in her exact words that " how can we release the check when the issuer would not free the check. '' According to this associate Bank of America sent the check to the issuer for payment but the issuer has simply failed to respond '' so Bank of America was waiting. 

Equipped with the lies from my interaction with the Bank of America associate, I called XXXX XXXX in XXXX and queried why they are resisting the release of the loan proceeds to me after we had consummated the loan. And, it suffices to say that XXXX who attended me was just flabbergasted and could not comprehend what had happened. She advised that they were instigating an investigation to find out what has happened. This after afternoon, I began to receive messages from Bank of America in regard to the two payments which I made on Monday with corresponding insufficient funds fees. 

I called the Bank to discuss the issues with a XXXX and her Manager XXXX XXXX in California, then later with a XXXX in XXXX, Florida. Only at this stage did these associates revealed to me that Bank of America has effectively impounded my check, and would not release it until XX/XX/XXXX - for what? And why? I find action most insulting, with XXXX undertones because I am a XXXX and so can not honorably have that amount of money. 

That is that, but the Bank 's action also contemptuous because it usurps, right to decide to have my property held for three weeks or not because I do not have one. And so, it decides for me to hold my funds for as long as it wants irrespective of what I think or feel ; because they don't matter and it is the only Bank anyway and I can not make any other arrangement. I feel most affronted by the unprofessionalism of this organization. Because they did not have to the extent, they did lie to me? The Bank 's actions tantamount to what I'll like to call " arm robbery by a gangster Bank, '' it is effectively holding my funds hostage then levying whatever charges it wants on my account, and this is evil, plain sinister. 

I would not really have cared however long the Bank wanted to keep my funds, if this is indeed a professional practice and so it had recognized my right know, if only so that I respond accordingly in either to decide to clear my funds elsewhere, or just giving them the chance to satisfy their XXXX curiosities. But they thought it best to plainly insult me, and I demand a justification of the pain, denial, and the inconvenience caused. 

Sincere Yours XXXX XXXX XXXX XXXX

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