Consumer complaint received 2020-05-05
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: HI
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
my name for report sake is XXXX. and bank will be BOA. I live in Hawaii first off and there are no brick and mortar branch or ATM 's owned by BOA in the state. I chose to open an account with BOA cause i felt they were a larger national bank and want to establish a relationship with BOA as home ownership was in the near future. In a New account holder of only 2-3 months. I do need to disclose that I did have a returned check that i had deposited through mobile deposits. BOA had a Hold on check so no funds were deposited into the account. a month later I mobile deposit a XXXX check and BOA puts a 10 day hold with no funds available. that was on the XXXX of XXXX. Now when I opened this account I had LINKED other banks, credit cards, XXXX and XXXX to my new BOA account as this new account would be my main account. credit cards were set for auto payments and XXXX and XXXX were used as backup payment from BOA account. These auto payments and back ups were set shortly after opening about a month before the XXXX mobile deposit. once the auto pay and back up payments started the XXXX check was still on their 10 day hold and started to be returned to their respectful company. and the NSF XXXX fees started. As soon as that happened I called the bank to explain the situation and BOA was kind to remove the NSF fees to a total of XXXX the company kept retying the Debits for i had no available balance but had a XXXX check on hold. I had asked asked both sides for a remedy as I wasn't working due to covid 19 pandemic. BOA was understanding and willing to help at that point. I had informed BOA that I had set up For my Tax returns, unemployment PUA benefits and A PPP loan that was set to be direct deposited into that account and if there were any negative balance in the accounts it would be covered by those deposits that were to be completed within a week or so. that was on Friday XX/XX/XXXX. XXXX at this point my account in negative XXXX with pending debits from the same auto pay and back ups that were now being retried again. Sunday comes along and my PPP loan is final I sign the loan doc. and relived that BOA will be taken care of and life can somewhat have some relief due to the financials hardship this pandemic has had on myself. well BOA Monday morning XX/XX/XXXX has begun closing posses of the checking account. I called to ask why i couldn't log on to my mobile banking as this is the only way i have to check my accounts as i live in Hawaii. They tell me that my account is being closed with out a reason or explanation other then it was managements decision. I explained that there will be a direct deposit coming in the sum of XXXX XXXX and would take care of the negative balance. BOA employee at this point offered no help or reasons. I feel that the XXXX hold on a XXXX dollar check with no access to any of it for 10 days at this very trying time was a bit excessive and the cause of this whole mess. I explained to BOA that i have no other choice but to do mobile deposit as there is no branch or atm for XXXX miles. over an ocean. I feel that BoA as a large bank that they would work with their customers and in this time due to covid 19 have a little more understanding in the situation we are all facing. BOA did tell me that after all the pending credits and fees my account will be closed with a XXXX negative balance and how would i like to take care of this. this is after i beged and pleaded sent copy 's of loan papers showing it was being dis pursed XX/XX/XXXX or XXXX. to my checking account at BOA. I asked them if they could wait to close until after the deposit goes in and allow me to withdraw after they take their XXXX fee before the close the account. As those funds from PPP loan was needed to keep four employees and four family s back to work and providing for their family s again. I explained and ask questions as to what happens when my deposit goes in. BOA said that they will take whatever is left from deposit and send me a check for the balance. But BOA will have to hold check for up to 10 day before sending it out to me in Hawaii just in case any more auto pays come in. By the time all this goes down that 15days plus, explained to BOA that I will lose my business and my employees and that I felt it was No fault of myself that they put a 10 day hold on my deposits cause Im out os state, mobile depositor and their rules state that they need to hold it for 10days. I can see if the check was for a large amount and some was available to use while the rest was on hold. I can understand that.. My question is if a bank puts a hold on your deposit and you acquire fees, or charges on a bank hold that the bank would credit your account for any harm that their hold that was put on a deposit to your account. I feel that the financial loss that My employees and myself is a direct effect of BOA unfair policies and rules.. For a negative balance of XXXX That would have never happened if at least some of the XXXX dollar check funds were made available for me to use and would have covered the auto pay from credit card payment. If I was able to deposit in a branch or through atm BOA said that all that would have been possible and deposit would only be a 24 hour hold. I cant do that there is no branch here in the whole state of Hawaii. I believe that because of where I live I have been discriminated against and that has directly affected my employees and myself financial hardship. And living on an island still under stay at home orders our whole state is considered economically disadvantaged. I will wait and allow CFPB to do what it is that you do. in the time till then I have informed my employees to log all that they feel they had lost due to this happening and either myself or BOA will be held responsible. The stress levels and hardship this has cost us as a family and company cant be fixed anytime soon, it just puts myself back in the hole even deeper.

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