Consumer complaint received 2015-07-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY
Product: Bank account or service
Sub-product: Checking account
Issue: Account opening, closing, or management

Complaint:
To whom this may ( and should ) concern. 

Bank of America, the long-standing institution that I 've banked with since I was XXXX ( now XXXX ) abruptly closed both my checking and savings account as of XXXX XXXX, 2015 without any notification whatsoever. The previous week ( on XXXX XXXX ), I visited my local branch to accomplish the following transactions : 1 ) open a business investment account for my XXXX and 2 ) to deposit {$50000.00} of my investor 's funds temporarily into my personal savings account to transfer into my XXXX accounts after they were opened. [ The branch advisor said this would be not be a problem, after I questioned if such a large check deposit could cause any unnecessary red flags, since my typical deposits were historically much lower ]. On XXXX XXXX, I attempted to log into my online banking that I discovered it to be inaccessible. I quickly called customer service and they told me the accounts were " in the process of being closed as of XX/XX/XXXX '', and subsequently transferred to the Risk Management department. Risk management manager ( XXXX XXXX ) said that the bank was " at no duty to disclose the nature of the situation '' since it was " in the contractual agreement at the time of account opening ''. He informed me that the check had been returned to the maker, and, upon my questioning the status of the little personal money I had in both accounts, said that they are available for withdrawal for the time being, but may be put on hold tomorrow ( XXXX XXXX ), and suggested I withdraw the funds as soon as possible. At this point I was visibly frustrated. I had made a special point to make sure all documents and procedures ( such as opening my XXXX, going in person ( instead of online ) to open the accounts, etc ) were conducted according to protocol. The call ended on XXXX, XXXX XXXX, at which point I took XXXX advice to withdraw all the funds from both accounts at a nearby branch. In the following days, the bank issued no explanation or assistance in resolving the matter, simply stating it has decided to " end the banking relationship '' with me. The investor who wrote the check quickly contacted her own bank ( XXXX ), and was told that the check could now be cashed since she has verified it. XXXX things. 1 ) I do n't have the original check anymore and 2 ) It 's too late because both my accounts are closed. All along, I 've been following the exact instructions given by the bank 's very own employees, and the result almost gave me a XXXX XXXX. Now that a week has passed, and countless hours of personal investigation conducted, it dawns on my that I must take a stand for such seemingly arbitrary behavior by Bank of America. While the employees at my local branch are respectful, the explanations they receive from the back office are inadequate at best. If the situation resolves without further incident, I will simply take my business elsewhere. However, if ( from my research ), my personal banking record becomes tarnished from this baseless situation, it is without choice that I take full legal action to the extent of the law, given that I will not let Bank of America 's incompetent risk management department wrongfully suspect me of conducting anything other than a wholly legitimate business entity with the sole purpose of helping my closest friends, family, and university peers generate consistent returns in the equity markets. To assume otherwise is truly insulting to my reputation, dignity, and faith in the capital markets system, one that I remain a strong supporter of given my education at one of the top universities in the world.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation