Consumer complaint received 2026-06-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BMO BANK NATIONAL ASSOCIATION
State: CA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX I am filing this complaint against BMO Bank regarding the freezing of my accounts without providing a meaningful explanation, leaving me without access to any of my funds and causing severe financial hardship. BMO Bank has frozen all of my accounts, including two business checking accounts and one personal checking account. When I contacted the bank, I was informed only that the accounts were under review by the fraud department. No specific reason for the freeze has been provided, nor have I been given any information regarding what activity is being reviewed or what documentation, if any, is required from me to resolve the matter. The bank has informed me that its review may take up to 60 days. During this time, I have been completely denied access to all funds held in these accounts. As a result, I am unable to pay my personal and business obligations, including but not limited to : Mortgage and housing-related expenses Vehicle payments Utilities Food and basic living expenses Business operating expenses and obligations Insurance premiums and other recurring financial commitments The freeze has effectively deprived me of access to all available funds without notice, explanation, or any reasonable accommodation for my immediate financial needs. I understand that financial institutions have obligations to investigate potentially suspicious activity. However, BMO 's actions have placed me in an untenable position by freezing all of my accounts and providing no meaningful information regarding the basis for the freeze, the status of the investigation, or any steps I can take to expedite resolution. Furthermore, the freeze affects not only my personal finances but also my ability to operate my businesses and meet my financial obligations. The lack of transparency and communication has created significant financial and emotional distress. I respectfully request that the Consumer Financial Protection Bureau investigate this matter and require BMO Bank to : Provide a clear explanation for the account restrictions. Provide the specific basis for the fraud review to the extent permitted by law. Complete its review promptly and release my funds if no wrongdoing is found. Consider providing access to funds necessary for essential living and business expenses while the review is ongoing. Improve its communication regarding account freezes and investigations so that consumers are not left without access to their funds and without information regarding their accounts. The complete restriction of my personal and business accounts has caused significant financial hardship and uncertainty. I am seeking immediate assistance in obtaining information about the reason for the freeze and restoring access to my funds as quickly as possible. Thank you for your attention to this matter.

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