Consumer complaint received 2026-04-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NY

Complaint narrative:
I am filing a complaint against Bank of America regarding the unexplained restriction of my business bank account, which has resulted in significant financial harm, blocked transactions, and operational disruption since XX/XX/year>. Beginning on or around XX/XX/year>, my account activity shows a pattern of irregular transaction failures, reversals, and restrictions that escalated into a full account access limitation. Despite maintaining a positive balance, I have been unable to use my funds. Documented Transaction Issues ( XX/XX/XXXX XX/XX/year> ) Based on my account records : - A {$50000.00} outgoing payment was returned on XX/XX/year> - Multiple wire transfers totaling over {$150000.00} were processed, followed by : - A {$4300.00} transaction flagged as insufficient funds and reversed on XX/XX/XXXX Subsequent payments tied to business operations began failing or being blocked, including : - {$2400.00} catering payment ( XX/XX/XXXX ) Blocked - {$1500.00} catering payments ( XX/XX/XXXX, XXXX, and XXXX ) Blocked - {$1000.00} hotel payment Failed- {$2000.00} invoice deposit Blocked These transactions demonstrate that my account has been functionally frozen, with legitimate business payments consistently blocked or rejected despite sufficient funds being available. Bank Conduct and Lack of Transparency My account has now been restricted for nearly two weeks with no explanation provided. - I have contacted customer service and fraud departments multiple times with no disclosure of the issue. - I was instructed to visit a branch at least six times in one week to verify my identity. - I complied fully with all verification requests, including in-person confirmation. - I was told the issue would be resolved within 48 hours, but no update has been provided after more than 72 hours. - Bank representatives have explicitly stated they are unable to disclose the reason for the restriction. Financial and Business Impact As a direct result of this restriction : - A vendor payment of approximately {$14000.00} remains unpaid. - Multiple business-critical payments have been blocked or failed. - I have incurred late fees on Bank of Am erica credit cards due to inability to access funds. - I have also incurred late fees with external creditors, impacting my financial standing. Due to the restriction on my account, both my personal and business Bank of America credit card payments for the XXXX billing cycle were delayed, as I was unable to access funds to make timely payments. As a result, I have incurred late fees and penalties, and I am concerned that these delays have been or may be reported to credit bureaus, causing potential damage to my credit profile. Also, I had to use my personal checking account to pay bills that should have been applied to the business account. As a result of the delays in resolving this issue with the business account, my personal account is overdrawn and personal creditors are unpaid. These impacts are directly attributable to Bank of Americas restriction of my account without explanation or timely resolution. My business operations have been materially disrupted, and my credibility with vendors has been damaged.

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