Consumer complaint received 2026-05-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: FL

Complaint narrative:
I am submitting this complaint regarding Bank of Americas handling of my accounts, funds, and fraud investigation claim identified as Claim Number XXXX. In XX/XX/year>, my Bank of America accounts were restricted and my funds withheld after a dispute was initiated by an individual related to a vehicle purchase transaction connected to XXXX. I was not the seller of the vehicle. I acted only as a payment facilitator between the buyer and the seller. I have a friend in XXXX who was selling his vehicle. The person purchasing the vehicle informed my friend that the payment needed to be transferred from the United States because his mother resides there. My friend asked whether I could help facilitate the transfer through my Bank of America account. The buyers mother, XXXX XXXX XXXX XXXX, personally contacted me and requested this assistance. The transaction was fully authorized and voluntary. XXXX XXXX knowingly deposited approximately USD {$8600.00} into my Bank of America account for the purpose of purchasing the vehicle for her son, XXXX XXXX XXXX XXXX XXXX, in XXXX. A written agreement existed between the parties, and the funds received into my account were transferred to the vehicle seller exactly as agreed. As soon as the funds were confirmed in my account, I delivered the money to my friend, and my friend legally transferred ownership and possession of the vehicle to XXXX XXXX XXXX XXXX XXXX. The vehicle was successfully delivered, and all transfer and ownership documentation was completed. I did not retain the funds for personal use, nor did I engage in unauthorized activity, fraud, theft, or misrepresentation. I acted in good faith as an intermediary to facilitate a lawful vehicle purchase transaction between the parties involved. However, after XXXX XXXX XXXX XXXX XXXX confirmed receipt and possession of the vehicle, XXXX XXXX contacted Bank of America and alleged fraud regarding the same transaction she had knowingly authorized. As a result, Bank of America removed from my account including from my own personal funds an amount equal to the transfer. Without conducting a fair investigation or providing due process, Bank of America subsequently closed my accounts, froze my remaining funds, accused me of fraud, and has continuously refused to provide me with meaningful information, evidence, or documentation supporting its actions. Since XX/XX/year>, I have fully cooperated with Bank of Americas investigation. I submitted extensive supporting documentation, including : Written agreements related to the transaction Proof of transfers Vehicle delivery and ownership documents A sworn declaration explaining the events Supporting records from authorities in XXXX Despite my cooperation and repeated follow-up communications over several months, Bank of America has failed to provide a meaningful update, final determination, or timeline for resolution. My funds remain withheld, and I continue experiencing financial hardship due to the prolonged restriction of my accounts. I believe Bank of America has failed to provide timely communication, due process, and a fair resolution regarding this matter. I respectfully request assistance in obtaining : A formal and final determination regarding the investigation Immediate clarification regarding the status of my funds and accounts Release of any funds being improperly withheld if no evidence of wrongdoing exists A written explanation supporting any continued restriction, account closure, or adverse action I respectfully request that the CFPB review this matter and assist in ensuring that Bank of America handles this case fairly, transparently, and within applicable consumer protection standards. Sincerely, 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