Consumer complaint received 2017-12-07
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
It 's beyond any human being to imagine the toture Back of XXXX caused me when they decided to choose my account. I 've aged 20 years despite the fact my entire business is in jeopardy. 

Forgive me if I 'm off with a day or two. However Bank of America has decided to closed my business account on XX/XX/17, the reason I was given is " because you have the right to close the account whenever you want as was written on the agreement when you open the account, the same way we have the right to close the account and for no specific reason other than the fact that we have the right to close your account we have made a final decision to terminate our relationship! and they said clearly you did n't do anything wrong nothing wrong went on it simply a decision from the back office and we are allowed to do it because this is what you agreed on the terms and condition when you open the account ''. 

So although I suffered terribly from this, I can not complain or have anything against Bank of America for doing this because after all I did agree that I am allowed to close the account whenever I want, and therefore they are allowed to close whenever they want, however when they have no reason to close it it 's a question of Ethics but that 's not my point on this complaint today. 

I am simply submitting this complaint out of tears and sleepless nights and a deep XXXX I fell in due to the fact that Bank of America told me when they closed the account that it 's very straightforward within 7 business days we will mail out a cashier 's check to you for the total balance in your account. 
I was also given the choice that I am able to go to a banking center to withdraw the funds in cash or a cashier 's check. 
I asked the Consumer Financial Protection Bureau to listen what happened when I went to a banking center. I told them my account is pending closure and I was told I can come withdraw my funds in cash, so after the branch XXXX prepared a bank check and some cash for me to empty my account and that was after XXXX hours being in the branch the last minute she told me oh my XXXX I am not able to release the funds to you! So I asked what happened? So she told me we do not have a signature on file for your account and therefore without the signature on file I can not release the funds. I explained to her that the bank account was opened online and because it was opened online it was an electronic signature which is basically the process which Bank of America does when accounts are opened online, most banks do not have the option to open an account online however Bank of America does have the option and the same way they can hold you liable for paying your credit card based on electronic signature this is nothing different than that. Despite the fact that I have withdrawn cash from my account several times before it was closed and therefore it was simply torture which they obviously do not care and to be honest I do not see why they should care after all the financial industry is one piece of fraud which is why the Consumer Financial Protection Agency was created. 

After hundreds of phone calls and I mean hundreds and probably more, and the good thing is or phone calls are being recorded and monitored which means the cfpb can request them just to see what they did to me. And what they did was every time I called a representative told me something else, you can not imagine I was given completely opposite information every single time I called no exception and I can not begin to explain the XXXX and the despair not to mention the fact that my entire business is in Jeopardy because of this. Being the fact that my account was closed on XXXX XXXX and I was promised that in 7 business days I will have a cashier 's check mailed out to me. However that was not the case I called 7 Days Later and they told me we did not close the account yet and the count is scheduled to be closed on XXXX XXXX. For no reason I was on the phone for hours and it did not help. I hung up and called another representative and the other representative told me your account is already closed and we already mailed out a check. A day later I log into my account and I see it 's still open I called in and they told me your account is pending closure and we suspect for old and we need you to go in that banking center to identify yourself. And I do n't want to go into all the XXXX phone calls which I literally was busy with for over a month XXXX hours a day and every representative gave me different information, I have no clue what 's going on I could n't focus on my business I could n't deposit checks I could n't do anything I was in extreme XXXX and it 's not possible for no money in the world for Bank of America to make this up to me it 's literally not possible for no money in the world what I have accepted the amount of pain they put me through. Then all of the sudden I log into my account and its walls I believe XXXX XXXX and I see that a recurring payment that I scheduled was successfully paid for my account. Which means that the account is not closed yet. I called them again they told me I can go that banking center without any problem even there is no signature on file I can have them release my funds to me in cash. I went that Bank XXXX and again after XXXX hours they told me they are not able to do it. Being the fact that I have nothing else to do with my day and this is the biggest headache I decided to go to a different branch if you miles away and they told me they are able to do it and they started preparing everything and the last minute they backed out. Then I went to different backing Center and they told me all I need to do is sign a signature card and then the next day I can come withdraw the phones on my account. I came the next day and that was not the case. I went to a different bank And the XXXX told me that I need to bring in my corporate documents and they will upload it and then I can immediately have all my phones withdrawn from my account. So that 's what I did and after XXXX hours as you can imagine that was not the case. I called in again and again and I am not making a joke I am talking about millions of phone calls and every representative told me something else I thought I will have a XXXX XXXX I hade anxiety panic attacks, both of course there is no reason why they should care and every representative had their way out by telling me that it 's being handled by a higher Department which even they are not able to speak to them they can only communicate via email and consumers can definitely not reach out to that department. 
I will not continue to go in to the details of every single phone call I have and how I was literally lie to every single time I believe you get the point and I believe I am not the first one to complain about this and I believe this is very common in the financial industry they lost to play around with people 's money while they make interests and they do n't care about the consumers nor do they comply with any government agencies laws. Which by no coincidence are the banks being sued everyday for millions and millions of dollars which has a negative effect on the shareholders. 

After finally going through the hardest time in my life which I did not believe what pain can feel like I finally logged into my account and saw they closed it and mailed out a check. That was approximately XXXX XXXX, and I was waiting patiently everyday checking my mail for my cashier 's check is between 55 and {$56000.00}. After XXXX days when I realized I am not getting the check I called and Bank of America and they told me so kindly that they see in their system on their computer screen that the check was mailed out and it was received on XXXX XXXX and they even told me they have a tracking number from XXXX and it was signed for. They gave me the tracking number I checked online and the signature and the name not only did not match my name but did not even have a single alphabet and it that matches my name. And I repeat I did not receive the check I do not care what XXXX did or who signed for it. I did however asked all of my neighbors on the Block and nobody had any idea about this check. All I know is that Bank of America it put me through XXXX they put me through what I can say that if I would have money I would be able to sue them for millions and dollars of damages for whey made me go through. And after all when they finally claimed they mailed out the check all I know is one thing and this is the most important thing which is the fact that I did not receive it again I repeat I did not receive the check and Bank of America is liable to release the XXXX XXXX which is what they told me they agree to and it 's in the terms of conditions this is my money it belongs to me and thanks XXXX that Bank of America abide by the law to release the funds to me because they have no issue with the law and they could have simply not release the phones and as a consumer there is nothing in the world I can do about it because there 's no way in the world to win these huge monsters these multitrillion-dollar Enterprises. bought again the point is again and again the phones which is between 55 and {$56000.00} belongs to me they know it belongs to me they agreed it belongs to me and after they put me through XXXX they finally mailed out a cashier 's check to me which I did not receive. And now I would like to add further that with all the billions of dollars and XXXX they invest every year there 's no way in the world they are not able to track if the check was cashed, there is no way in the world they are not able to put a stop payment on that check, and there is no way in the world that they are able to see clearly that the check was not cashed. However they chose to take this opportunity and tell me that I will have to wait XXXX  days for them to investigate what happened and after XXXX days maybe if I am lucky they will issue me a new Bank check. Being the fact that every representative tells me something else I do n't even believe that there such a thing of XXXX days and if they will indeed release it after XXXX days. My main concern is the fact that I did not receive the phones and it 's absolutely not acceptable and not moral for them to make me wait 90 days because they need to investigate what happened when it 's not my problem what happened it 's their problem. Again it is Bank of America 's problem the fact that I did not receive the check. And because it is their problem they should immediately mail out overnight shipping a new check to me. They should not put it on me and tell me I need to wait 90 days for them to investigate and I should have a XXXX XXXX during this XXXX days and maybe then they will issue me a new Bank check. There 's no way in the world they are not able to see that it was not cashed and put a stop payment on it and issue me a new Bank check. And even they are not able to do it again, it 's not my problem I went to the banking Center, to be exact I went to approximately 15 different branches because I needed the funds emergency to continue my business, they decided not to give me the back check in the back and Center for my security. But to mail out a check with XXXX that is very secure then they take my security very seriously. But let me reiterate I make it clear it is not ethical and not moral and I do not even believe it 's legal to allow Bank of America make me wait XXXX days when they have a problem. I should also have the check in my hands 7 days after the account was closed which means XXXX XXXX. But not only did they keep on pushing me and they put me through enormous amount of abuse and pain when they finally did mail out the check I did not receive it and that is all that matters and the fact that I did not receive it is their problem it is not my problem. I am not saying that they are not allowed to investigate what happened, they should absolutely investigated but not on my time which is XXXX literally XXXX. They should investigate it for their sake it has nothing to do with me and it 's not legal they should be able to put their problem on me and take themselves XXXX days do investigated and see what happened to the check and then I have to sit and pray now for XXXX days that maybe maybe maybe they will have mercy at me and they will mail me out a new check because they will finally realize that I did not receive it and it was not cashe 'd. Not to mention the fact that my business is in Jeopardy as it is I will definitely have to file for bankruptcy if I do not have the funds within a week, it 's already late they already called every single damage in the world I apologize I do not have education in legal terminology to explain every unlawful act they committed. But it is self-explanatory that this can not go on and they can not play games with me or any consumer and they should issue me immediately a new cashier 's check and then they can take XXXX years for all I care to investigate what happened to the first check. Please understand they do not get paid more for working faster they do not care if it takes XXXX days or XXXX years to investigated furthermore they do not care if I go back from C or I XXXX from a XXXX XXXX. I hope the government and I hope the Consumer Financial Protection Agency do n't care about me and do n't care about my health and do n't care about the law and will make sure that the Bank of America will mail out the check to me and not only that but they will make up for all the emotional mental damages they caused me and all the losses that occurred in my business because of the fact they lied to me on every single phone call and they made me go through enormous amount of abuse and pain.

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