Consumer complaint received 2025-02-14 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Closing an account — Funds not received from closed account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: AR

Complaint narrative:
My father passed away XX/XX/year>25 at XXXX  XXXX in XXXX XXXX. He was a customer of Bank of American for many years, likely close to 20 years. I am listed a beneficiary and was aware of this, as was my mother. I visited the Bank of America ( BOA ) branch closest to me on XX/XX/year>25 to provide a death certificate in hopes of receiving his funds ( approximately {$10000.00} ) so that I could continue to pay his bills while I waited from the estate process to begin. I was told that I needed to complete the " Letter of Instruction and Account Closure Request '' which I was provided the same day. The account was closed the same day and all access to funds was stopped. I, as well as my mother, completed the required forms XX/XX/year>25  and they were faxed and received XX/XX/year>25 per Bank of America XXXX XXXX XXXX, XXXX. I requested an update on the status of disbursement of funds XX/XX/year>25 at XXXX. I was told during that phone call that all documents had been received and were " pending review '' and that Bank of America requested " up to five business days '' to review the documents. I was instructed to call back Thursday XX/XX/year>25 to get an update on the status which I did. On Thursday XX/XX/year>25 I spoke with Bank of America Estate Unit representative, XXXX, who told me the documents were still being reviewed and she advised me to call the following day XX/XX/scrub>/25. She also told me that I could request " an escalation '' into having the accounts reviewed and the money dispersed at that time. I called today, XX/XX/year>25 and spoke with Bank of America Estate Unit Representative, XXXX, who stated that the documents had been reviewed and that funds would be dispersed. She also advised that this process could take up to FIFTEEN business days - 5 business days to formally request the checks and 10 business days to have them mailed. I asked if this could be expedited as my father 's bills are coming due and I would like to avoid late fees associated with being paid late. XXXX stated that she would inquire about this. She then stated that " XXXX '' was reviewing this request to see if this could be done and that I would need to call back later today to see if that would be granted or not. 
Bank of America are acting as if these funds belong to them. My father did what was right in naming beneficiaries assuming that money would go to the people he designated. This money is not being used to have a party or go on vacation... it is being used to pay bills, keep up mortgage paid up until the home can be sold, and to keep the utilities on. Bank of America should operate as every other bank does and with the proper documentation ( i.e. a death certificate and proper identification ) and disperse the funds accordingly. Please help in this matter if you can.

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