Consumer complaint received 07-01-2016 about Bank account or service (Checking account) with BANK OF AMERICA, NATIONAL ASSOCIATION (MD).
Issue: Account opening, closing, or management

Complaint: On Thursday XXXX XXXX 2016, I received my tax refund from the IRS to my XXXX Bank of America Account. 
Subsequently, I transferred by phone a portion of the refund to my XXXX Bank of America Account. 

Later that day, I went to a Bank of America location at XXXX XXXX XXXX. XXXX to transfer funds to another Bank of America Account to pay a bill. 
At this point, I was informed by the Teller that the transfer would not go through and I should speak to an Associate. 
What was discovered was that there was a Hold placed on both my XXXX Account and the XXXX Account, and were overdrawn by " - {$880000.00} ''. 
The Associate contacted the Risk Department to have the Hold removed ; but was told it could not be done because the IRS put the Holds on the Accounts, due to " TAX FRAUD ''. 
An Investigation was opened by the Risk Department and I was informed there was nothing else to be done but wait for the Investigator to contact me. 

THIS IS FRAUD BY BANK OF AMERICA : First : The IRS would Not place a Hold on a Bank Account after Electronic Transferring of a Refund ( see attached documentation of proof of Transfer from the IRS ). 
The IRS would Not contact 'Bank of America ' of Suspected Tax Fraud. 
The IRS would contact the 'Taxpayer ' ( myself ) ONLY with a 90 day Notice ( in writing ) of Suspected Tax Fraud. 
The IRS would Hold the Funds and NOT transfer any funds to the Taxpayer 's Account, pending resolution of the matter between the IRS and the Taxpayer. 

To site " TAX FRAUD '' as Justification for placing Holds on the XXXX Accounts is FRAUD BY BANK OF AMERICA and is a violation of my Civil Liberties. 

Bank of America has no right, nor jurisdiction to place a Hold on ANY of my bank accounts, and has provided an INVALID EXPLANATION to justify Bank of America 's actions and attack on my Civil Liberties. 

1. ) I received my Tax Refund from the IRS ( which is substantiated and verified by the IRS and on IRS website ). 
2. ) I used my Tax Refund to pay my bills. 

Second : I have been a Bank of America Customer for over 20 years. 
- All of my Bank Accounts are with Bank of America - All of my Personal and Business Transactions are through Bank of America. 

THIS MATTER SHOULD HAVE BEEN RESOLVED WITHIN MINUTES AT THE BRANCH LOCATION : The Associate should have been able to remove the Hold from the accounts at the Bank of America Financial Center at XXXX XXXX XXXX. XXXX '. 
Bank of America could have verified in minutes the validity of the Transactions, just by looking at their Bank Records. 
1. ) The ID Number for the IRS in connection with the Transfer of the Funds is that same number from the past Tax Refunds I have received for the past 15 years to the EXACT SAME BANK ACCOUNT. 
2. ) ALL of the Electronic Transfers were WITHIN BANK OF AMERICA 'S SYSTEM. 
3. ) NO MONEY WAS WITHDRAWN. 

There was NO NEED, nor Justification for leaving the Holds on the Accounts, nor any Justification for opening an Investigation. 

I was given False Information by Bank of America and its Employees with the Risk Department. 
Bank of America Failed to provide a VALID JUSTIFICATION for the Holds on the Accounts and resulting Investigation.

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