Consumer complaint received 2025-07-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA

Complaint narrative:
On XXXX we made two check deposits into business checking account. These checks were both from The United States Treasury Department one for {$100000.00} and the other for {$110000.00}. At the time of deposit, we were informed there would be aa hold placed on the checks. On XX/XX/year> I received a telephone call from Bank of America asking me about the two referenced deposit. She asked me if I knew where the checks came from, how I obtained the checks and if I knew why I received the checks. I answered her questions and emailed her ( per her request ) both letters we received regarding the payments and IRS tax documentation proving we had applied for the funds. It was at this time that I was informed our account was frozen. 
Immediately upon learning of the account being frozen I contacted the Internal Revenue Service regarding the checks and was told there were no flags on the account and that they had in fact verified the checks with Bank of America. The following day ( XXXX XXXX ) I visited the IRS office in XXXX California, during the meeting I was once again told that there were no fraud alerts or notes in the account and that the issued checks were verified. I was told that the issue was not coming from the Internal Revenue Service and was in fact an issue with the financial institution XXXX Bank of America ). 
The following morning ( XXXX XXXX ) I called the bank of America customer service number for updates regarding my account and was informed that my account was closed and I would not be able to access any of my funds. When speaking with the representative I was told that funds would be mailed to me within 7-10 business days. During the conversation I explained that this was my business account and that it was imperative for my business to access the funds and that I had payroll due. When I asked the representative ( whom I regrettably did not get his name ) to be transferred to someone else who could help me better ; the representative then said to me I hope you have a better day BYE and hung up the call. 
Over the next several days I attempted several times to reach out to someone who could help me. I emailed and got no response. I called and got no return call. When I called the fraud department, I was told there was nothing that could be done and the account would be officially closed on XXXX XXXX. 
On XX/XX/XXXX I received letters from United States Treasury regarding the above referenced checks stating the checks were cashed by Bank of America and that they should have been credited into the above referenced account. The letter stated If the check copy shows that the check was deposited into your financial organization, take the check copy to the bank or credit union and verify the account was credited into your account. On XXXX XXXX I visited the XXXX financial office. I was told that I would need to call the fraud number XXXX. During the call I was told that the account would now be closed on XX/XX/XXXX and that the date could continue to change. 
Every day the date continues to change and our funds continue to be held by Bank of America. This includes funds all the funds that were in the account prior to the two cheeck deposits.This has greatly impacted my ability to run my small business as they are holding all of our money. We are now unable to pay bills because we are unable to access our funds. This has caused so much undue stress and problems.

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