Consumer complaint received 2025-09-25 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Can't close your account
Company: BMO BANK NATIONAL ASSOCIATION
State: GA

Complaint narrative:
I am writing to formally file a complaint against BMO regarding a series of troubling incidents that I believe may constitute violations of banking regulations and consumer protection laws.

* * Background * * I opened a checking account with BMO to take advantage of a promotional bonus. However, I encountered significant issues that have raised concerns about the banks practices. 

XXXX. * * XX/XX/year> Account Lockout * * : When customer service called to confirm my account information I was uncomfortable verifying personal details over an inbound call ), the representative changed my phone number without my consent, resulting in my being locked out of my account. I had to make another call to rectify this issue. 

XXXX. * * XX/XX/year> Suspension of Transfer Ability * * : I attempted to initiate an external bank transfer, which was initially approved but ultimately led to a request for additional information. After providing the requested documentation, my ability to transfer funds was suspended. During a follow-up call, I was informed that BMO had suspicions regarding the ownership of my funding account, despite the system used to link the accounts confirming my ownership. 

XXXX. * * XX/XX/year> Lack of Transparency * * : The representative claimed the system did not allow them to view the account owner 's information, which raises questions about how the bank could assert that the account was not mine. This lack of transparency is concerning and contravenes principles of fair banking practices. 

XXXX. * * XX/XX/year> Threat of Fees * * : I was threatened with a {$50.00} fee for each account due to my request to close my accounts, despite not having received any bonus that would justify such fees. I was informed that my accounts were suspended, and no further action could be taken until I confirmed my information. 

* * Legal Violations * * These actions appear to violate the following : - * * Truth in Savings Act ( 12 U.S.C. 4301 ) * * : This law mandates that banks provide clear and accurate information regarding fees and account terms.

- * * Equal Credit Opportunity Act ( 15 U.S.C. 1691 ) * * : This act prohibits discrimination in any aspect of a credit transaction, including the unjust denial of access to banking services.

- * * Fair Banking Practices * * : The lack of clear communication and the arbitrary suspension of my account and transfer abilities seem to violate the principles of fair banking practices and transparency. 

* * Request for Remedy * * I urge the CFPB to investigate these practices and consider the following remedies : - An investigation into BMOs policies regarding account management and customer service.

- Clear communication regarding the ownership of linked accounts.

- Compensation for the inconvenience and distress caused by these actions, including any fees that may have been wrongfully applied.

I appreciate your attention to this matter and look forward to your prompt response. Please feel free to contact me at the above phone number or email address if you require further information.

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 non-monetary relief