Consumer complaint received 2015-08-27
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
To Whom it May Concern, Several years ago, I formed a XXXX, XXXX based in XXXX, Nevada. As part of the business setup, I opened a bank account with Bank of America, also located in XXXX, Nevada. At the time that I opened the account, a bank representative encouraged me to apply for a business credit card under the company name. I agreed, applied and was issued a company credit card. The account number is XXXX. 

For the next several years, the company did use the credit card and did incur debt on the card. For years, all card bills were paid on time and the account was current. XX/XX/2015, Company was forced to close the company down because of local economic conditions. At the time the company closed, there was still an estimated {$8000.00} of debt on the credit card, and the company had no assets to repay the debt. Since the closure, the partners in the company have been discussing filing for company bankruptcy but have not yet done so. 

Since the closure of the company, Bank of America has called on several occasions requesting payment on the credit card. I have told them on many occasions that the company had closed, had no assets and was in the processing of evaluating all options to settle outstanding debt. They informed me at that time, that I was personally responsible for the company credit card debt. I noted in the conversation that at no time did I ever sign any agreement accepting a personal guarantee for the company credit card and debt. Then, in another phone conversation with a Bank of America representative, I was told that the responsibility was with the XXXX only and that any debt would be reported to a Business Bureau credit reporting agency. So, I was given conflicting information in separate phone conversations. 

On XXXX XXXX, 2015, without any notice, either written or by phone, Bank of America unilaterally decided to debit one of my personal checking accounts ( acct. # XXXX ) in the amount of {$1400.00} and left me with a balance of {$300.00}. I immediately called the bank to inquire about this charge on XXXX XXXX, 2015. I was told by a bank representative that no one would be available until Monday, XXXX XXXX to discuss. I had no access to desperately-needed funds over this period. I did finally reach a bank representative on XXXX XXXX. During the call, I was told that the bank made a " business decision '' to take the {$1400.00} out of my account to pay on the business credit card. I immediately objected and reiterated that this was a company card and had no connection with my personal accounts. I advised the bank that there were several officers in the company, and I had no personal obligation to settle this. Further, I asked them to send me the signed agreement whereby I agreed to, and authorized, such recourse in the event of an account delinquency. To date, they have not produced any such agreement or terms and conditions authorizing this theft. 

I have repeatedly asked the bank to reverse this transaction, and they have refused. I consider this unauthorized and theft of my personal funds. 

I appreciate your consideration of assistance in this matter and fear that others may suffer as well by Bank of America 's reckless and criminal actions.

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