Consumer complaint received 2023-03-10 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: MD

Complaint narrative:
My husband and I opened multiple bank accounts through Bank of America in XXXX, XXXX  on XX/XX/XXXX. We opened checking accounts for an operating account, a payroll account, and a ATM account for our business XXXX XXXX XXXX XXXX, XXXX. We opened a personal checking account for our family. As well as a checking account for our food truck business XXXX XXXX & XXXX XXXX. Starting our accounts out were challenging because our previous bank did not transfer all our companies money into our new accounts until greater than 10 days. This was challenging for our business in the beginning. Once all money was transferred there were no issues. We received a letter in the mail from Bank of America stating they were closing our accounts around end of XXXX early XXXX. I reached out to Bank of America in XXXX, MD via phone call and spoke to XXXX the branch XXXX. I told her about document that I received in the mail and she stated that I received that by mistake and there was no issues with my account and to throw the document in the trash. I threw the document in the trash and did not think anything else of the matter. We continued to make daily deposits, ordering checks etc. Yesterday, XX/XX/XXXX we attempted to deposit money into our account and were denied. Bank of America in XXXX, XXXX  stated they did not understand the issue and told me they would give me a call on XX/XX/XXXX as soon as they got more information. I did not hear from Bank of America by mid afternoon so I attempted to call multiple times throughout opening hours. I finally sent an email to XXXX on XX/XX/XXXX at XXXX stating my concern about my accounts being closed. I informed them that I have a business to run and I need to ensure my business is ran smoothly and safely so no checks are bounced or any issues. I received a call back around XXXX on XX/XX/XXXX from Bank of America at the XXXX XXXX XXXX  branch stating they do not have any information for me to explain why my accounts have been stopped. They provided me with a phone number of XXXX, which I called directly. I spoke to a representative which stated she is unable to provide me with the reason our accounts were being closed. She informed me that my accounts are closed and that I will receive a cashiers check of our money in the mail in XXXX business days. I informed her that I have a business that I need our money for our business to succeed everyday. I informed her that I was just made aware that my bank account is closed today. I informed her this all takes time to make sure my accounts are set up appropriately so checks dont bounce, my payroll goes through etc. She stated this is bank of americas policy and they can close your bank account at any time. Please help me get this terrible situation solved. You can contact me directly at XXXX or my email is XXXX.

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