Consumer complaint received 2026-05-07 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: OK

Complaint narrative:
XX/XX/year>XXXX - I deposited a check that I intended to use for tax payment by XX/XX/XXXX. I received and have in my possession a copy of a statement from Bank Of America indicating that the funds would be available by XX/XX/XXXX. I was not going to be able to pay my amount of tax due without these funds. I have a picture of the document from Bank Of America indicating that the funds would be available by XX/XX/XXXX. Between the deposit on XX/XX/XXXX and needing fund availability on XX/XX/XXXX, it appeared the hold on my deposit was unilaterally lengthened to a later date, XX/XX/XXXX. I contacted the bank numerous times to ensure that the funds would be available by XX/XX/XXXX as initially promised by the bank. I spent many hours on recorded phone call lines, in person at my local branch, and through the app for the company attempting to verify availability of funds by XX/XX/XXXX as initially documented. I would estimate a total of approximately 15 hours worth of effort were made during business hours, attempting to resolve this. I received a little to no tangible assistance. I am an educated consumer, and I found it nearly impossible to get in touch with anyone who could actually make any resolution to this. No one was able to lift this hold that was arbitrarily lengthened beyond a reasonable and promised timeline. I contacted the bank that issued the check. I had an official from this bank call Bank Of America to verify to the veracity of the check, the funds, etc. such that Bank Of America was at no risk in this process. The official from the bank who created the check that I intended to deposit at Bank Of America spent many hours on my behalf, attempting to get the hold lifted. However, this individual was not able to get the hold lifted either. By the time XX/XX/XXXX arrived, I attempted to pay my quarterly tax due for the first quarter of XXXX. I do this electronically for accuracy, efficiency, and to have the process paperless/documented. The funds in my checking account that I attempted to use to pay for my taxes were in this arbitrary hold even still, yet the amount was clearly present in BOA software. I was not willing to allow a tardy payment from me to the IRS due to Bank Of America arbitrarily lengthening my hold despite many hours of my effort and the effort from the bank is issuing the check and testifying to its veracity. I submitted payment on XX/XX/XXXX for my tax due for first quarter XXXX in the amount of {$200000.00}. I knew that this amount was present within my Bank of America account, yet it was being arbitrarily withheld. Because I had exhausted all options to get the held lifted, I submitted my payment for timeliness and to attempt to force the banks hand in releasing the funds since the payment was going to the IRS. The payment processed overnight, but it was rejected the next day. I then had to remake the payment on XX/XX/XXXX when the hold finally lifted. A few days ago, I received notice from the IRS that I am incurring a penalty {$4000.00} for the rejected check. This is completely unreasonable and should be paid for by Bank Of America. I will detail this further in the section below. I have attached four files a picture of the receipt, indicating my funds would be available by XX/XX/XXXX, a picture of the IRS penalty that I am now facing, my email to my accountant inquiring as to what this IRS notice could have been for, and my accountants response.

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