Consumer complaint received 2023-07-16
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
I am writing to you in the hopes of getting help in recovering my {$3000.00} cash deposit, deposited at Bank of America. 

I have tried everything in my power to battle the system. I also have XXXX  XXXX, and I am a XXXX  mother of XXXX XXXX  boys, which adds even more to the stress of the situation. 

Here are the details : On XX/XX/XXXX I opened a small business called XXXX to XXXX XXXX, hoping to leave my sons with a source of income after my passing. 

On XX/XX/XXXX I opened a business account at Bank of America XXXX XXXX, on XXXX XXXX XXXX XXXX XXXX CA XXXX. I opened a checking account by making a {$7000.00} cash deposit. The business banker I talked to, XXXX XXXX, convinced me to open a secured business card as well. I deposited another {$3000.00} of my own money to open this card. 

On XX/XX/XXXX, I decided to pay off the balance of my secured card, close the card and have the money transferred into my business checking, so I can use it to purchase supplies for the busy XXXX  season. Time was of the essence, so I specifically asked how long the transfer will take. I was told that, although I opened the account at that physical branch, the account could only be closed by calling the XXXX number on the back of my secured card. The card number was XXXX XXXX XXXX XXXX. 

On XX/XX/XXXX, I called the number and requested that the card be closed and the money be transferred into the business checking account. I was told that the transfer was not possible, but that I will receive the check in the amount of {$3000.00} in XXXX business days. 

On XX/XX/XXXX, I still hadnt received the check, so I called the number on the card. I was told by the automated system that the card was closed, It took a while to get a human being on the phone to inquire about the check, but I finally reached XXXX who assured me that the check had been sent out. 

On XX/XX/XXXX, I still hadnt received the check, so I called again. After many transfers, I reached Case XXXX XXXX, who told me that the check did NOT go out, due to a small outstanding balance of {$69.00} on my linked Customized Cash Rewards account. I immediately paid off the balance over the phone, reference # XXXX. I also asked to open a complaint and I was transferred to XXXX XXXX, who took down the complaint. 
The complaint was logged with case # XXXX. 

On XX/XX/XXXX, I still havent received the check, so I called again. I talked to XXXX, who transferred me to Collections. XXXX XXXX picked up, and immediately hung up. I called back, talked to XXXX from the Fraud Department. After several more transfers and XXXX more interrupted calls, I reached XXXX XXXX, He transferred me to Business Services, where I talked to XXXX, She transferred me to Business Collections and I talked to XXXX XXXX. 

XXXX XXXX expressed concern and told me she could not establish the cause of delay in sending the check, but that she requested that to be sent again, and the check will arrive in XXXX business days. 

On XX/XX/XXXX, I went again to the physical branch of Bank of America where I opened the account. They called the same number I had called several times, were transferred to various call agents, like I have, and could not solve the issue.

Ever since, I continued to call and look for someone who could help. No one seemed to know where the deposit went. 

I still havent received the funds I need to keep my business in operation. 

I am turning to you in the hopes that you can help me recover the funds that I once deposited at this bank. 

The department I am dealing with is the CD Department, phone # XXXX. 

The representative I talked to at the physical Bank of America branch was XXXX XXXX ( who seemed to have no idea how to help ), phone XXXX, email XXXX Sincerely, XXXX XXXX, Owner XXXX XXXX XXXXXXXX XXXX XXXX Email : XXXXXXXX XXXX XXXX XXXX XXXX XXXX

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