Consumer complaint received 2017-01-12
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AR
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
Hello, I opened a small business checking account at my local Bank of America branch XXXX XXXX XXXX XXXX XXXX, XXXX, AR XXXX ) on XXXX XXXX, XX/XX/XXXX The process seemed to go well and I had all the documents requested. Once the account was opened, I deposited a check made to my business and drawn on my client 's Bank of America account. It was because the check was drawn on my client 's Bank of America account that I opened my business account there in the first place, to ensure smooth processing and funds availability. 

The next day XXXX XXXX XXXX, the funds appeared in the morning and I was able to make a few transactions. Without being notified, in the afternoon that stopped being the case and I was n't able to use online banking to see the account. I called and was told by the Risk department the account was being closed ( but not given any reason for the closing or any way to rectify the situation ). Simply that BoA was electing per the terms and conditions to close the account. I was told by the Risk dept. rep that I should go to the branch to withdraw the funds, otherwise a check would be mailed from BoA to my business once the account was closed. But without a business account or the ability to open XXXX, I would n't be able to personally cash the check - essentially making the funds completely unavailable to me in any real form. 

So I go to the branch immediately and wait for hours. They eventually call what they call 'One Call ' and are told the funds wo n't be available until the next day ( XXXX ). Because I was told something completely different, I call the customer Risk dept. again, this time together with the Personal Banker at the branch at her desk. We are told again the funds are in fact available and they should be able to release them. But the branch does not. 

The branch manager comes by because it is taking so long and rudely takes over the call. She does n't allow me to hear the process any further, despite everyone clearly telling us the funds should be available for withdrawal. She disappears into her office for about an hour and reappears only to say there is nothing she can do. She is rude, unsympathetic, and offers no real resolution or reason. 

She instructs me to call the same Risk dept. again today ( XXXX ) and that the funds should then be free for the branch to release. Even though that same department had been telling me they were already released and free to release. 

So I call them today ( XXXX ) and am told it wo n't be until the XXXX that the funds are released. The Risk dept. rep is n't able to tell me if the account will remain active through the week it will take to verify and release the funds and that if the account becomes inactive, even after verified, the funds wo n't be available for withdrawal. 

It is absurd that they 've essentially stolen {$13000.00} from me in their tangle of broken processes and miscommunication.

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