Consumer complaint received 2025-12-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: BMO BANK NATIONAL ASSOCIATION
State: CA

Complaint narrative:
This is a follow-up complaint linked to my prior CFPB Case # XXXX. 
The issue remains unresolved and BMO Bank N.A . is now imposing an impossible and inappropriate requirement that prevents me from recovering my {$10000.00} wire transfer. 

I am submitting this follow-up because BMOs written response dated XX/XX/year> does not resolve the matter and raises additional regulatory concerns. 

XXXX has formally acknowledged in writing ( document attached ) that : 1. They received the {$10000.00} domestic wire transfer sent to me on XX/XX/year>. 
2. They credited the wire to my account before closing it.

3. They are still holding the {$10000.00}. 
4. They rejected two recall requests submitted by XXXX XXXX XXXX 
5. They will not return the funds unless XXXX XXXX XXXXXXXX issues an XXXX XXXX XXXX XXXX. 

XXXX XXXX XXXXXXXX has now confirmed to us ( in person, at the branch ) that they can not issue this indemnity letter. 

They explained : - There is no fraud, no dispute, and no liability involving XXXX XXXX XXXX. 
- The sender authorized the wire fully and correctly. 
- Because the wire is valid, XXXX XXXX XXXXXXXX has no legal basis to issue an indemnification letter. 
- They instructed us to direct BMO to either release the funds to me ( the intended recipient ) or return the funds to XXXX XXXX XXXXXXXX through normal banking procedures. 

This places me in an impossible situation created entirely by BMOs internal actions. 
XXXX is holding my {$10000.00} without any legal or regulatory basis. 
- The receiving bank ( BMO ) has full control of the funds. 
- The sending bank can not take further action. 
- BMO is demanding a document that can not legally be provided for a valid wire transfer. 
- BMOs claim of fraudulent activity is vague, unsupported, and unrelated to the wire transaction. 
- BMO has provided no evidence, no documentation, and no legally required notice regarding the alleged fraud. 

This raises serious consumer protection concerns : - Unlawful withholding of consumer funds- Failure to release funds to either the sender or the intended recipient - Imposing conditions that are impossible to satisfy - Obstructing the return of funds without justification - Rejecting valid wire recalls due to their own internal errors - Retaining consumer funds without notice or due process - Providing contradictory and misleading information to both the consumer and the sending bank Bank XXXX XXXX was clear : There is no reason BMO can not simply return the wire or release it to me. 
XXXX is choosing not to. 

Requested Relief : I respectfully request that the CFPB require BMO to : - Immediately release the {$10000.00} wire transfer to me, OR - Return the funds to Bank XXXX XXXX, WITHOUT requiring an indemnification letter that is inappropriate for this case and impossible to obtain. 

BMOs own written response ( attached ) confirms they possess the funds and are withholding them based on an unsupported requirement that contradicts industry standards and wire transfer regulations. 

This situation is now entering its fourth month and continues to cause significant financial and emotional harm. 

I request urgent regulatory intervention. 

Thank you for your continued attention to this matter.

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