Consumer complaint received 2025-04-11 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: CA

Complaint narrative:
To Whom It May Concern, I am submitting this complaint to report the improper closure of my business accounts and seizure of funds by Bank of America, as well as what I believe to be negligent and unethical handling of the verification process related to a state-issued check. 

I operate a business under the name XXXX XXXX XXXX XXXX XXXX, for which I held both a business checking and business savings account at Bank of America. The checking account ended in XXXX. 

On or around XX/XX/year>, I deposited a {$3500.00} check issued by the XXXX XXXX XXXX XXXX XXXX Account. The check number was # XXXX, and it was scheduled to clear on XX/XX/XXXX. 

The following day, on XX/XX/XXXX, Bank of America issued a letter informing me that both my business checking and savings accounts would be closed, and the funds from the deposited check would be seized, as they had allegedly determined the check to be fraudulent. I did not receive this letter until XX/XX/year>. 

Upon receiving the notice, I immediately contacted the issuing entity, which confirmed : The check was valid and had been properly issued, Sufficient funds were available, And no stop payment or cancellation had occurred. 

I contacted Bank of Americas Risk Closure Department ( XXXX ) and provided them with valid contact information for check verification : XXXX, Attn : XXXX XXXX, ext. XXXX Later, I also provided XXXX, a direct line for financial verification with the state agency. 

However, Bank of America refused to call either number and instead contacted XXXX, a state employee and inmate locator line unrelated to check verification. Despite multiple clarifications, they insisted they would only call if a specific contact name was providedeven after I explained that the state financial verification line does not assign individual names. 

I spoke with several representatives from the Risk Closure Department, including XXXX, XXXX, XXXX, and two individuals named XXXX, all of whom gave conflicting responses. Despite repeatedly stating that their investigation found the check to be fraudulent, they also claimed the funds would remain on hold indefinitely while the investigation continued, and refused to provide a timeline or further explanation. 

Unfortunately, Bank of America retained the original check and did not return a copy to me. However, I have documented the check number ( # XXXX ) and have confirmation from the state agency that the check is authentic, funded, and was never revoked. 

This situation has disrupted my business operations, denied me access to legitimate funds, and highlights what I believe to be a breakdown in fair banking practices and basic verification protocol. I made every effort to cooperate with Bank of America and assist in resolving the matter, but my input was dismissed repeatedly without proper cause or due diligence. 

I respectfully request the following : 1. That the {$3500.00} in seized funds be released to me or returned to the issuing agency ; 2. That a formal investigation be opened into Bank of Americas Risk Closure Department and its verification procedures ; 3. That I receive documentation outlining how the check was determined to be fraudulent, and what steps were taken in that investigation. 

I appreciate your time and attention to this matter and am available to provide any further information needed to support this complaint. 

Sincerely, XXXX XXXXXXXX XXXX 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