Consumer complaint received 2025-07-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: TX

Complaint narrative:
To Whom It May Concern, My name is XXXX XXXX, owner of XXXX, a legally registered business based in XXXX, Texas. I am submitting this complaint to formally report and dispute Bank of America 's unjust closure of my business checking account and the false accusation that I overdrew the account by more than {$4000.00} - a claim that is not only inaccurate, but damaging. 

I did not apply independently for a business account at Bank of America. After registering my LLC through XXXX, I was contacted directly by a Bank of America representative, who offered me a business banking account based on that referral. I accepted the offer and provided all required documentation. To this day I have the voicemail by the bank of America representative who called me and left a voicemail on my phone for my business. I used the account solely to receive client payments and for normal business operations. 

Shortly after receiving a XXXX payment from a client, labeled as a " trademark filing fee '' for legitimate services rendered, I was notified that XXXX was deactivated on my account. I immediately contacted Bank of America and was told it would be escalated. Without any formal investigation, further communication, or explanation, the entire account was closed. I was later told this was due to " high risk to the bank and its customers. '' To make matters worse, I later received a letter from Bank of America claiming my account had a negative balance exceeding {$4000.00}, which is absolutely false. I did not receive any single transaction of that amount, nor did my activity reflect such a balance. All deposits were modest, clearly tied to client work, and well-documented. Before the closure, I had withdrawn my funds simply to ensure access during the confusion surrounding the XXXX shutdown- not because of any wrongdoing. 
This false accusation of a {$4000.00} overdraft is both defamatory and financially damaging. I request this be investigated thoroughly and removed from any records associated with me or my business. This entire process has been mishandled, and I no longer seek resolution directly through Bank of America. 

Instead, I am seeking oversight and action from your agency to hold Bank of America accountable for : - The unjust closure of my business account - The false allegation of an overdraft - The reputational and financial damage to my new LLC and my personal financial record I am attaching the following documentation : - Articles of Organization for XXXX  ( XXXX ) - IRS-issued EIN confirmation - Screenshots/proof of relevant XXXX activity - Any correspondence received from Bank of America regarding the closure and overdraft claim This treatment is unacceptable, especially for a small business owner just starting out. I acted in good faith and transparently, only to be misled, penalized, and falsely accused. My work for every client can be found on my instagram page @ XXXX  and also XXXX. On my social you see all packages, products and all services rendered for my clients. 

I respectfully request the CFPB investigate this matter and enforce accountability for Bank Of Americas Actions.

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 explanation