Consumer complaint received 2025-04-26 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
Hello my name is XXXX XXXX. On XX/XX/year> I received a wire transfer to my bank of American checking account ending in XXXX for the amount of {$110000.00} coming from an escrow for the sale of a property my parents sold. The money was put into my account as a gift with the intend of me purchasing my own house. I have the statement where it shows the details of the transaction and where it was coming from. Later in the same month of XXXX when I was about to go do the wire transfer to the escrow for the purchase of my house, the banker assisting me made aware that the transaction was not able to go through because bank of American had frozen the account, I called and was on hold do for hours and hours and everyone I spoke to would tell me different things nothing was solve all they did was transfer me to different departments and had me on hold, until I reached a representative who told me that there was an alert on my account for suspicious activity, what she basically told me was that the best thing I could do is since my account was not safe to open a new account and transfer the remaining funds to the new account and she help me with opening the account and transfer the funds of {$68000.00} from my old account into my new account ending in XXXX. The next day I went to the bank to complete the wire transfer pending to close the purchase of my home, and as we are trying to do the transaction the banker tells me its not possible since the account is frozen again. The banker call a department to help me remove the freeze but nothing was done, since they said there was no one who I could speak in person to I had to call a specialist department and I did called for days no one will give me an answer and they would have me on hold for hours until one day they said they had frozen the account because they put the transaction as fraudulent because they did not know where the money was coming from, I explained to them it was from an escrow for the sale of a property they said they could not give me any information and that they would close all my accounts and flag my name as fraudulent and I would not be able to open a bank account in 5 years. They said escrow had to recall the money from their bank I let the escrow know and they contacted city bank from where the wire was sent to me to contact bank of America to get the funds back. XXXX XXXX contacted Bank of America but they never replied. I lost my house all my savings I had to ask a family member for housing until I could generate some money and move back to my own I was only XXXX XXXX XXXX when this all happened Im not able to open a bank account at any bank because of the flag Bank of America put in my name, I have tried to talk to them but they wont give me any information that erased all statements from my previous bank account but thankfully I have the statement where it shows where the money was coming from. I spent 1 year trying to get back up financially after bank of America unjustly froze my money without legitimate reason. I have suffered for the lost of my house and the dirty of my name being flag as fraud. I need help it has been 3 years and they have done nothing to give the money back.

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