Consumer complaint received 2022-06-28
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
I deposited my first check as a realtor through Bank of America and what I thought would be a normal deposit has turned into XXXX weeks of ongoing frustration. I've been banking with them since I was in high school and have used their mobile banking app for years as well. When I deposited my check on the XXXX, at first I received a notice saying it would take up until the XXXX for the check to be deposited in my account. The next day I went to look at my account and was locked out. I then called Bank of America who informed me it would take up until the XXXX for me to receive the funds and that there was a possibility it would be returned and my account would be closed. Fast forward to the XXXX and the money is deposited in my account but I still have no access to my account and the only way I can see it is through my parents account. Then a few minutes later, everything is pulled out of my account and placed on hold. I speak to the fraud department as I am not receiving any information and have to reach out for updates. They tell me whatever was in my account would be sent in a cashiers check except for the check I deposited which is still under review. I then contact the title company that wrote me the check and they send me an inquiry showing the funds were taken from their account on the XXXX and already paid to me. I call back the fraud department with this information, not understanding why it is still under review when on the title company 's end it shows it went through. The fraud department supervisor tells me to ask the title company to recall the funds. I asked the title company to do this and they explained that since it went through there's not a way to recall the funds and their CFO got in contact with BOA but still nothing. I end up going in person to a Bank of America in the next town and speak with an associate. The associate calls the same fraud number Ive been calling for XXXX weeks and they tell her the funds were never paid to me and when Bank of America " negotiated '' the funds, the title company in some medium told them the funds did not belong to me. She couldn't give any details as to how they would've made this claim or proof that it was made. I got the title company on the phone and they were equally confused. Its going into the XXXX  week of me having no access to money I earned. I have bills to pay and fees that are due, I feel so dependent on my family and without their support I don't know how I'd manage. I believe Bank of America is wrongfully withholding my money and never investigated if it was even a fraudulent check but immediately flagged it. Instead of doing their due diligence, they closed a long time customers account without any notice and for no reason are not releasing the funds that belong to me. At the end of the day, the title company says they never filed a claim and the money was taken out of their account on the XXXX and was made payable to me. The money should have been in my account the XXXX but instead is frozen and Bank of America can not tell me 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 monetary relief