Consumer complaint received 2018-06-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
On XX/XX/XXXX a deposit of {$47000.00} was made to my bank of America checking account which I was very much aware of. A couple of hours after that, I made some transfers and then noticed I was locked out of my account on the following day, XX/XX/XXXX. I could not log in to the mobile banking app or the online platform. I kept on getting the error message account locked ; contact customer service. I made a call to them on XX/XX/XXXX and I was told the bank had made a decision not to continue doing business with me and a letter and check will be sent to my address on file. I received the letter dated XX/XX/XXXX 3 weeks after on XX/XX/XXXX. There was no check with the letter. The letter from Bank of America stated that after careful review, they have made a decision to close my account. In the letter, I was told a check will be sent following the letter. I waited another 11 days and after not hearing or receiving anything, I called the bank on XX/XX/XXXX. I was informed on that day that they will not be releasing the funds because they could not verify the source. I was very upset as to why no attempt was made by the bank to communicate any of this to me. I went ahead and told the lady on the phone that I am very much aware of the source of the funds and this was money meant to facilitate my move to XXXX of which I am already resident there. She informed me that she will put in an official request for my funds to be released and I should call back in 2-3 days for an answer. I called the bank back on Wednesday, XX/XX/XXXX and I was informed that for the funds to be released, I would need to send a notarized letter by the depositor of the money authorizing the transaction. The letter was prepared, I called the bank on XX/XX/XXXX to ask if anything else will be required and they said I write a notarized letter describing the events that have occurred together with the notarized letter and send it to a bank of america address which I was given ( I made a recording of this conversation ). The letter was sent to the address as requested. After several weeks passed and I heard nothing from them, I called them back on XX/XX/XXXX to know what was going on. The lady on the phone said she does not know what I am talking about, no one asked me to send anything to the address. I told her they are being ridiculous ; I have a recording of the conversation and I was told to send the letters which I did. She completely denied it and hung up the phone on me. I called again and this time they made up another story and said I would need to fax in the letters ; I requested for the fax number and she said I will have to go into a Bank of America branch to do that. I explained I am in XXXX at the moment, what difference does it make, faxing and posting the letter. The depositor then proceeded to her Bank of America branch were she made the deposit into my account and asked to fax the letter to accounts closure and the bank refused and said they do not do anything of that sort. I have come to the conclusion that bank of america is playing all these games and holding my money for no reasonable cause! This is very upsetting and I will be forced to suing the bank.

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