Consumer complaint received 2016-01-28 00:00:00
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
We have been Bank of America customers for well over 20 years and on XXXX XXXX, 2016 my entire family received letters individually that each of our accounts was going to be closed in 30 days with no explanation. It advised our account would be restricted in 21 days not stating what those restrictions would be and we had 30 days from the date of the letter which was XXXX XXXX, 2016 to make other banking arrangements. We have never had any inappropriate banking practices and have had several accounts throughout the years with no issues. So this comes as a complete shock to say the least! My husband and I have had our checking account for over 20 years and our daughters have had checking and savings accounts with them since the age of XXXX and they are now in their mid twenties. Upon receipt of the letters I immediately called the phone number on the letter and was not given the option to speak to a live representative. There was only a voicemail stating that if we received a letter that our account is closing its a business decision and no further explanation or reason will be given, so if we still wanted to leave a message regarding something else that could be done. I then went directly to our branch and spoke with the manager who was unable to give any information and stated that our accounts had no indication or notations that they were to be closed. She submitted an inquiry on our behalf, but with no resolution. A few days later I returned to Bank of America to do some banking before the accounts closed and spoke with XXXX of the associates who assisted us quite often and advised me that our accounts were being closed because I deposit too much cash. I have a small business and receive checks and I can not afford for the checks to bounce so I cash them and deposit the cash to my accounts. After over 20 years as an account holder and no issues with our accounts I ca n't believe that Bank of America would close all of our accounts without provocation or explanation. To further make matters worse we were told after 21 days our accounts would be restricted when actually they have been closed prior to the date stated in the letter. We have not been allowed to withdraw the remainder of our funds and that they will not release the funds and we have to wait for a cashiers check which wo n't be even processed for mailing until XXXX XXXX, 2016. We are not in a financial position to just have our funds sit while Bank of America decides when they will release our money after treating us so poorly and unfair. My family and I have been loyal customers for so many years to Bank of America and their treatment of us has been horrible. We have not been able to get any reliable information from anyone of authority and after being an account holder for so long I feel its the least they could do is explain this situation. I will never bank with them again or advise anyone else to bank with them either. They 're handling of this situation has been completely disrespectful and unprofessional! It is my hope that CFPB can do something to hold Bank of America accountable for their mistreatment of customers.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation