Consumer complaint received 2026-01-27 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: AZ

Complaint narrative:
Complaint Narrative I am filing this complaint against BMO Bank , N.A . ( BMO Harris ) for failure to credit or remit multiple merchant refunds that were transmitted prior to account closure, despite timely disputes being filed, and for failing to issue payment of those funds after closing the account. 

Refunds Confirmed by XXXX XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX confirmed in writing that XXXX refunds were transmitted to my card ending in XXXX in the amounts of {$610.00} and {$770.00}, submitted on XX/XX/year>. Marriott instructed me to contact my financial institution for posting and resolution. 
XXXX. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX in the amount of approximately {$5000.00} was transmitted on XX/XX/year> back to the card on file and advised that any failure to reflect the funds must be resolved by the bank. 

Dispute and Account Closure I formally disputed the missing credits with BMO Harris before the account was closed, placing the bank on notice of billing errors and missing refunds. Despite this, BMO Harris closed the account while the disputed refunds remained unresolved and failed to remit the refunded funds to me after closure. 

The bank has retained control over funds that were transmitted for my benefit, failed to post credits, failed to issue a refund check, and failed to complete proper dispute resolution. 

Address Update for Payment My correct mailing address for any issued check is : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, XXXX  XXXX Any refund check must be expedited to this address. 

Harm As a result of BMO Harriss actions, I have been deprived of access to more than {$6400.00} in refunded funds, experienced financial hardship, lost use of funds, and incurred administrative burden pursuing recovery. 

The banks conduct constitutes improper handling of electronic fund transfers, unfair and deceptive practices, failure to complete error resolution, and improper retention of customer funds after account closure. 




FEDERAL LAW Electronic Fund Transfer Act ( EFTA ) 15 U.S.C. 1693 et seq.

Requires investigation of electronic transfer errors.

Requires correction and consumer reimbursement.

Regulation E 12 CFR Part 1005 Mandates error resolution timelines. 
Requires provisional credit when warranted. 

Consumer Financial Protection Act 12 U.S.C. 5531, 5536 Prohibits unfair, deceptive, or abusive acts ( UDAAP ).

Fair Credit Billing Act 15 U.S.C. 1666 Requires correction of billing errors on card accounts.

Uniform Commercial Code Article 4 Bank must properly process and remit funds received for a customer. 





SMALL BUSINESS BANK ACCOUNT PRINCIPLES Even if the account is classified as business : Banks must release customer funds upon closure Banks can not retain funds without lawful justification CFPB retains supervisory authority over servicing conduct ARIZONA LAW Arizona Consumer Fraud Act A.R.S. 44-1522 Prohibits deceptive or unfair practices in commerce.

Arizona UCC Title 47 Requires proper handling of deposits and remittance of funds.

Conversion/ Unjust Enrichment ( XXXX  Common Law ) Retention of funds belonging to another without justification.

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