Consumer complaint received 2020-09-09
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MD
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Unable to open an account

Complaint:
BANK OF AMERICA I received a mailed promotion about a {$300.00} signup checking bonus if I opened a new bank of america checking account by XX/XX/2020, used my unique offer code, and setup direct deposit of {$4000.00} or more within 90 days. 

I opened the account via the online website bankofamerica.com/300Reward on XX/XX/2020. My application was approved. I received a confirmation email and number. I funded the account with a {$1500.00} ACH transfer from my other XXXX XXXX bank account. I also setup online access and mobile access. I got an account number and could see the routing number, so I setup  direct deposit with my company. 

3 days later, on XX/XX/2020, I tried to access the account via the online website. I was told that the account was locked. I tried to access the account via the mobile app, I was told I needed to call customer service. I called customer service, and was told that they could not find my account and that I would need to go into a Bank of America branch with 2 forms of ID to get any issues resolved. 

On XX/XX/2020, I went into Bank of America branch with my valid drivers license and passport. I was told that the account had been closed, but that they could not tell me why. I showed them that the {$1500.00} had been withdrawn from the XXXX XXXX account to fund the new bank of America account and that the transaction had already posted. They could not tell me where my money was. All they said is that the account was closed because some information could not be verified, and that " if my money '' was in transit that it would eventually be returned via a cashier 's check, but that the timeframe was unknown. 

I was at a loss for words. I had not received any mail, electronic or paper, no notices, no messages, nothing. Bank of America just closed my account, locked out access, and took my money without a word. 

I have the statements, the screenshots, the transaction ID, the application confirmation number, everything I need for them to resolve this or at least tell me why the account was closed. I could have verified whatever was wrong. I have an excellent credit score, a fantastic job, and many other bank accounts. The whole experience was incredibly akward. 

Right now I just want my money back. Somehow it was withdrawn by " BANK OF AMERICA '' to an account that " no longer exists ''. 

I also can no longer use the signup promotion code I was given, as when I try to make a new bank of america account it says that the promotion is already been used. So there goes my {$300.00} signup bonus for all of the work, and in the meantime I'm out {$1500.00} until this can all get sorted out. The bank of america in-branch representative, the call center, and the person they called while I was there all couldn't help or give me a straight answer about anything.

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