Consumer complaint received 2018-04-02
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CO
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Can't close your account

Complaint:
I originally began the process of closing my checking and savings accounts with Bank of America on XX/XX/XXXX. They were able to close my savings accounts, but the phone representative alleged that they could not close my checking account due to a pending hold. I requested that a complete lock be placed on my account to prevent any further charges from being processed, and the Bank of America representative agreed and confirmed the hold was placed. I was informed that once I had no pending charges for a period of 10 days, I could close the account. At this time they also placed a hold on my account for {$100.00} ( the remaining balance in that account ) in order to " zero out '' my balance in preparation for account closure. 

Two days later, on XX/XX/XXXX, Bank of America permitted a charge through from XXXX for {$39.00}, sending me into a negative balance due to the hold Bank of America placed and charging me a {$35.00} overdraft/returned item fee. Permitting this charge through was in clear violation of the hold I had placed on the account, and seemed to me to be a retaliatory action for attempting to close my checking account by punishing me to the tune of {$35.00}. 

Since then, I have attempted multiple times to have this account closed, attempting to maintain as close to a XXXX  balance as I can while Bank of America continued to allow charges through with impunity despite my best efforts to ensure no further charges would go through. I have had this checking account for many years, so undoubtedly there were going to be a few automatic payments I'd lost track of and wanted to stop with the full lock I had placed on my account. 

Not to mention Bank of America still has an active hold on my {$100.00} final balance from XX/XX/XXXX, preventing me from withdrawing that money and moving it to my new bank. One representative even told me that the " XXXX out my balance '' hold counted as an active hold on my account, constantly resetting the 10-day timer for no active holds in order to close my account. A different representative claimed that Bank of America did not in fact place the hold, while a third representative said that Bank of America did place the {$100.00} hold, but could not say why it was still active. 

Since that hold was placed, I have been subjected to a total of three overdraft fees of {$35.00} for charges Bank of America processed through despite my request for a total block of all charges on the account. In my opinion, these actions constitute a pattern of retaliatory action for attempting to close my account, and presenting an undue obstruction to terminating my account with Bank of America. 

I even attempted to send a registered mail letter requesting my account be closed to the official Bank of America account closure P.O. Box in XXXX, FL, but they did not pick up the letter from their P.O. Box and I was notified it would be returned to me by the USPS.

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