Consumer complaint received 2024-08-31 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BMO BANK NATIONAL ASSOCIATION
State: AZ

Complaint narrative:
Account opened XX/XX/XXXX. XXXX BMO since the bank had locations near my business and near my residence. 

Setup direct deposit. Account has had XXXX direct deposit from my payroll servicer ( XXXX, then XXXX ) drawn from my XXXX XXXX business checking account since opening. 

On XX/XX/XXXX, I deposited a check for {$12000.00} written from my XXXX XXXX business account into my personal BMO account using the app. 
By XX/XX/XXXX, I had not seen any of the funds from the check credit to my XXXX account. Using the chat feature, I was told that the check would be held for 9 days. This was unacceptable, as I needed access to the funds by XX/XX/XXXX in advance of a flight to XXXX to purchase a vehicle from a private party. 
XXXX XXXX showed the check had cleared on XX/XX/XXXX. I had also transferred {$4400.00} from my XXXX savings account into the BMO account on XX/XX/XXXX. These funds showed that they were available in the BMO account on XX/XX/XXXX. 
I then wired an additional {$12000.00} from my XXXX XXXX business account to my BMO account at XXXX on XX/XX/XXXX, thinking I could withdraw the cash that afternoon on my way home. 
I stopped into the location at XXXX XXXX XXXX XXXX, XXXX, AZ XXXX and requested a withdrawal of {$8200.00}. 
An non-supervisor employee, XXXX XXXX, told me that the check was not available until XX/XX/XXXX. I told him that didnt matter anymore, I just needed to withdrawal the funds that were available from the wire and SoFi XXXX. Both of these transactions were reflected in my available balance on XX/XX/XXXX. XXXX was dismissive and unhelpful, and simply wrote a phone number on a business card for the fraud department at XXXX and told me to attempt to contact them. He told me that no money could be withdrawn from the account. He did not offer any solutions or offer to contact anyone internally at BMO to help resolve the issue. 
My first call to the fraud department on XX/XX/XXXX was the beginning of an endless cycle of inaction, deference, incompetence and complete lack of customer service, all while my current balance of {$28000.00} was inaccessible to me. The fraud department repeated that the check was on hold, but could not find a reason that the wired funds or transferred funds were unavailable. 
The fraud department apparently has no supervisor to escalate to. They told me to call the customer service call center to find out more information. 
My first call to the customer service line on XX/XX/XXXX resulted in a XXXX minute wait to speak with a supervisor. I had to transfer 3 times from outsourced call centers in the XXXX, to a XXXX call center, then into a queue for a supervisor. This standard of infuriating and inept customer service was the norm for each and every subsequent communication. Average call length to speak to anyone with decision-making capability was XXXX min. After being compelled to verify the account with each and every new person that took the call on the line, I eventually declined to provide any information whatsoever until I was connected with a supervisor, lest I be compelled to repeat my account number and recite text message codes half a dozen times per communication attempt. XXXX particular call to had a XXXX person queue of customers waiting to speak to a supervisor, a true illustration that my issue is not unique amongst those unfortunate enough to have accounts with BMO. 
Import to note, at no time was I ever contacted by phone, email or text regarding the status of my account. BMO insists on communication only through XXXX mail when accounts are frozen and funds are held XXXX from the customer. I received XXXX letter on XX/XX/XXXX, dated XX/XX/XXXX, stating that XXXX had confidential information regarding the legitimacy and validity of the original check. At no point did XXXX communicate with my business or XXXX XXXX prior to receipt of this letter. 
On XX/XX/XXXX, the BMO showed that the wired funds were no longer present. I reached out to XXXX XXXX, and was told by them that the wired funds had been accepted by BMO at XXXX, XXXX minute after they were sent on XX/XX/XXXX. Call time for XXXX XXXX was under XXXX minutes total. 
I called twice a day from XXXX to attempt speak to someone that could inform me why my account was being frozen and why my money was being held XXXX. Had I not proactively contacted BMO, I would have never known the status of my account. They do not make any reasonable attempt to communicate with their customers. 
On XX/XX/XXXX, I stopped into a location near my business at XXXX XXXX XXXX XXXX XXXX, XXXX, AZ XXXX at around XXXX. No XXXX was on duty during business hours at this location. I spoke to someone named XXXX, who was again dismissive, offered no solutions and told me to call the fraud department for any answers. She could not provide me with any upper management contact in the XXXX XXXX area, despite the fact that BMO has their name on a XXXX story building in midtown XXXX. 
XXXX told me to go back to the location at XXXX XXXX XXXX XXXX, XXXX, AZ XXXX to speak to a XXXX on duty named XXXX XXXX. 
I spoke with XXXX at around XXXX on XX/XX/XXXX. To her credit, she did promise to look into the issue further on XX/XX/XXXX, but she did not provide any reason or timeline for accessing my money. She gave me her business card and said she would call me the next day. 
XXXX did not call me back on XX/XX/XXXX. On XX/XX/XXXX, XXXX day before the original check from XX/XX/XXXX ( which had cleared XXXX XXXX on XX/XX/XXXX ), she did call my business and asked to speak to a XXXX. I took the call, and she was attempting to verify the check from XX/XX/XXXX. I told her my business partner had signed the check, and is not available to take phone calls at the store. She mentioned nothing about the money that was wired from the same account the check was drawn from. This was BMOs only live attempt to communicate with the business from which the funds were drawn. 
I sent an email before end of day at XXXX to XXXX XXXX a concrete timeline for when I could pickup a cashiers check for the full balance of the BMO account on XX/XX/XXXX. 
At this point, my travel arrangements were ruined. I had to cancel my flight, losing my paid ( non-refundable ) upgrade in the process. I had to cancel my purchase of the vehicle, as the seller was not available after our original meeting time the morning of XX/XX/XXXX due to their own international flight for travel ahead of the holiday weekend. I lost my XXXX deposit for the vehicle. I forfeited my hotel in XXXX on XXXX as well. I also lost the wire transfer fee from XXXX XXXX, in addition to daily interest accrual from XXXX XXXX and XXXX. There are noteworthy damages available for recovery from BMOs incompetence and inability to provide timely access to my money. 
On XX/XX/XXXX, I made a final call to the customer service call center. After XXXX failed attempts to speak with a supervisor after being disconnected from the XXXX and XXXX call centers during transfers, I finally got in contact with a XXXX based supervisor ( XXXX ) who provided me with the genesis of this whole ordeal. XXXX XXXX, the original hourly employee that I spoke with on XX/XX/XXXX, was the individual that placed the hold on the account, and was solely responsible for freezing my funds for nearly a week without any explanation. XXXX also provided me with the phone number for XXXX XXXX, who she claimed was a regional XXXX that XXXX have more influence to recover my seized funds. 
XXXX XXXX emailed me on XX/XX/XXXX XXXX stating that I could collect a cashiers check for the entirety of the account balance that day. I stopped into the XXXX location at XXXX on XX/XX/XXXX and collected the cashiers check ( made out to me, I had instructed that it be made out to my business ). I told XXXX that I knew that it was XXXX that had been the cause of this entire situation, and that his incompetence and lack of communication had ruined my vehicle transaction and travel arrangements. Another round of empty apologies, and that concludes any and all interaction I will ever

have with BMO again. I have never had such a miserable experience with a financial in
stitution. At no point did anyone at BMO take ownership of my concerns and address them properly or professionally. {$28000.00} of my money was held XXXX, a significant portion of it for 9 days, without any explanation or communication from BMO. I was forced to call and live contact an endless loop of incompetent, ineffective and unhelpful individuals who do nothing more than defer my concerns to another department, or tell me to simply wait. Shame on me for not researching BMO further before opening an account ; identical situations can be found in stories from other customers on XXXX, XXXX, XXXX and XXXX reviews. In fact, each BMO location in XXXX averages around XXXX stars out of XXXX. Every time I asked a BMO employee if this is their standard of customer service, I never received an answer. Its almost as if frustrating the customer, holding their funds XXXX and ignoring their demands for answers is part of their corporate culture. To call BMO a bank is a genuine insult to real banks.

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