Consumer complaint received 2022-03-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
I have multiple business accounts closed by Bank of America in XXXX XXXX. Because my account was hacked 3 of our accounts and someone made a lot unauthorized wire transfers. BOA traced back those wire transfers and told me due to security reason they decide to close all our accounts. 

After account closed, we have two more transactions occurred, one is card payment refund $ XXXX. Second one is XXXX XXXX loan around {$750000.00} at XX/XX/XXXX. We already emailed XXXX that we changed bank account before, but XXXX still send money to our old BOA account. 

Ok, I start to a long journey to contact BOA to ask them release those fund. In the first I went to local BOA branch and banker told me they can not do anything and they have to call back office to see that found is returned back to XXXX or cleared by BOA. 99 % will return back to XXXX. Because my account was closed. But XXXX days later I can still see the amount is in my account. I keep calling BOA, the account closing department is the only department in-charge this kind of case. They told me those found is already cleared and right now is in BOA 's account. But I can not use it or withdraw it because our account status is closed. The only thing they could do is submit to close our account again and bank will issue cashier check automatically to our office. The estimate closing date will be XXXX. XXXX XXXX. 

I have no choice only wait. When I called XXXX. XXXX, they tell me the closing date changed to XXXX. XXXX. At XXXX. XXXX, it changed to XXXX XXXX. At XXXX. XXXX, it changed to XXXX. XXXX till today... almost 2 months. Again and again, BOA have no any explanation for why they hold our money for so many days. Just told me only the back office can approve fund release and they have not response my application at all. No one have their contact information inside BOA system. No one can get contact with back office. No one can give us a certain closing date. No one can take responsibility for the XXXX loan delay. We have to pay interest for the loan and BOA definitely will not pay the interest for us. 

On XX/XX/XXXX, BOA added - {$880000.00} on my account, still not issue cashier check. Like every time, no one could tell me what's going on and when will they close this account. 

BOA just kept those money does not belong to them and give XXXX to their client. I searched online for how to sue a bank like BOA, but unfortunately, no I can't, because of there some rules in agreement signed when everyone open account. I have nothing to do with XXXX fund in BOA, that fund is for save our company but now I can not touch it. I know this kind of things are not common to each business checking account. But for our business, those fund could help us a lot. I have no idea when we could get it.

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