The Bank of America sent me letters saying they are restricting my accounts in 20 days and closing them in 30 days. I called the phone number on the letters, but only an answering machine says "this is the closure department and this was done for Business Reason and no further info can be given". I sent a complaint on the web through my account, I was advised to go to a local branch. I did, but the manager had no answer, he said the closure department is above any branch and he can not help me because he can not access their information.
The strange thing is that I have an excellent banking history, high credit score and never defaulted on any payment. I also had with them a mortgage which was paid always on time until I sold the property.
I stopped long time ago using the online payment system of the Bank of America. The reason is because the funds are taken away immediately from my account at the time I schedule the payments. If your check does not reach the person who you intend to pay, the money is swallowed by the bank. I used to make automatic monthly payments to charities and found out that the charities did not cash their checks over a year. The money was taken from my account and I was never told about this. Thus instead of making life easier the online payment system of the Bank of America makes it harder sine you have to keep track of things among many. I use currently online payment service from two other banks which are excellent since funds are not deducted from the account until actually the checks are cashed or deposited. This way there is no money lost and no need to track things so closely.
Despite the above I kept accounts with the Bank of America because it was the first bank I used when it was named"Bank of New England", then "Fleet Bank", then "Bank of Boston", then Bank of America. I thought because I have excellent banking history, it is good to keep an active account with this bank, although I have accounts at local banks whenever I relocated.
It is a humiliating experience to try to talk to somebody at the Bank of America about the account closure. My experience proved that this bank is not customer friendly when it comes to discuss such issues.
I truly believe they did a mistake because they lost a good customer, however, my complaint is related to the humiliating way of the closure and that the system they set in place does not distinguish between good customers and bad ones.
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Same thing happened to us - 5 business accounts 6 personal accounts and we had our account established with the original bank in 1983 that was swallowed by a big bank, then another big bank, that ultimately got swallowed by BoA... we left the account alone, with a little bit of money. Established new accounts for the business with a competitor and moved most of the funds. The Bank manager could tell us nothing, they have no access to that department, and on their computer our accounts looked fine, no flags. 30 days came and went, account stayed open. 60 days came and went... account still open. Bank manager looks, says nothing flagged on the account. Today received a letter regarding BoA keeping in compliance with the Patriot Act and they could not establish/verify "CIP" - so we met with the branch manager who checked our account and sure enough, a phone number, a license "issued date" and year our company was established were missing. Now our account is good, not flagged, and we can resume peacefully. Apparently accounts established prior to 1999 are being aggressively audited for missing data (from a bad data conversion of banks they purchased) and clients are hanging in the wind, branch managers are left in the dark, accounts are being closed, clients are leaving, and general unrest abounds. BoA - all you had to do was tell us to update our profile information with a Bank manager and we would have complied. Threaten with account closure is your first move for an IT issue on data conversion? Bad Move BoA. Bad Business decision. We rolled with each acquisition of our original account established in 1983. Your letter caused us to learn that the grass really is greener on the other side - thanks for pushing us out. Now that the account "passes" your audit (for a phone number?!), we will truly cancel all the accounts and move on. Selling our stock in BoA as well. You will get no more of our business, and we will share our experience with everyone we know.
Bofa closed my account here in LA, that ive had for like 20years.
Went to buy groceries at my local store and the cashier guy said my card was denied, stunned i relunctantly used my PIN number which was denied as well, i knew something was amiss, i paid with cash thankfully in my wallet and got into my car and logged in to my checking acct, and lo and behold it was empty, in panic called the bank and eventually after being transffered like 3 times, one of their arrogant worker finally asked me if i knew my acct is being closed.I was shocked and relived as the same time knowing a bank draft will be sent to me in the mail.
These point here is they didnt warn me of any wrong doing on my 2 decade old acct, i wasnt warned that my account will be closed, i was embarrassed at the grocery store, and none of their employees could tell me why the [censor] they closed my acct.
They are too big to care and i hope people learn to close their acct and move to another bank.
iam on a mission to tell my family and all my co workers to move out of Bofa.
Did they return funds ?
Bank Of Americans s!cks. This was how they closed my account (Company) without any notice. I called to know what went wrong or the offense we committed but the couldn't give any reason. The reply was " Nothing, we just decided not to do business with your organization". Ridiculous!. Everybody should stay away from BoA
Same thing with us; accounts with BOA (snake "sisssssssss") of 22 years, received letter saying they decided to close our accounts and per our agreement with their Disclosures and Deposits policy when we opened the accounts, they didn't owe us an explanation. That's it, GOODBYE! We felt like criminals. We closed them ourselves and went to BB&T. BOA sucks and we told them so. DON'T GO TO BOA! Bad, bad business practices! Well my husband can relax now as he's been telling me for years how rotten they are; now I believe him.
March 2018,
I just opened a letter from BOA thinking it was more terms and agreements or how we share information. I was stunned to see they closed my account for no reason I can possibly think of. I opened this checking account very recently in response to the $150.00 promo to open an account and make 2 direct deposits. If this was a checking account that I normally used this would be very scary and frustrating. I didn't need another checking account and this is very scary and frustrating. Now l have to go redo my payroll direct deposit form again and pray I get my 1st $500.00 deposit returned from this Bank without more unusually high call volume trying to reach a real person that could assist.
Bank of America closed my account last week as well that I had open for over 25 years when they could not contact my elderly father who I added to my account 20 years ago to help pay for my college. No warning, no phone call and I was overseas on business when this happened - could not access ATM. Bank of America Mortgage could not draft from this account after getting closed and pinged me with a $110 late fee. Call to closure department with father on the line and supervisor did not help - they said for him to report to a branch office even though he is disabled in a rural area 100 miles from a branch. Not even a phone call to warn me this account would be closed and I am a "preferred platinum" customer. Any advice on a good bank to move to that is helpful to loyal customers?
I had an account with BOA until this morning. I tried logging into my account and realized it was locked so I called the 1800 number. The rep I spoke with informed me it was due to a business decision. I went into the branch and I couldn't get an answer so I called the 1800 number again only to be told it was due to a fraud claim but no other details. The only fraud on my account was in May 2018 and I was credited the full amount with fees and was informed it was a "no loss claim." I'm not owing the IRS, I keep more than the minimum balance in my account, and all transactions on this account is legit. I requested for an explanation for the closure. I did not receive any notice about a possible closure to my account and I have payroll coming through my account t and I have rent due on 8/1/2018. I spoke with several reps on the phone and going into the branch with no resolution.
No email, no phone call to inform me of the closure. I just woke up and gone I no longer have my money.
I went to the branch at 1020 Holcombe Blvd in Houston and the 2 reps who tried to help were rude and unprofessional. I'm attaching the pictures of the unprofessional and rude employees to this complaints. Don't do business with BOA.
We had similar experience. Simple word, BOA sucks.
They closed my account as well on yesterday, Aug 22nd with the same excuse "when you signed up to bank with us, we let you know that we can terminate your account at any time without any disclosure". I now how upcoming car payment and credit card bills that will be paid late due to them withholding my funds. Thanks BofA
The Bank of America thing happened to me. Did they return your money?
Same thing happened to me. I was a customer for over 40 years. When I was finally able to speak to someone at the bank the very nasty individual answered " If you would have read the contract you signed you would have seen it says we can close the account anytime we want and do not have to give any reasons" I answered I have been a customer for over 40 years and never done anything wrong the least I would expect is a little decency and a reply to which he answered " didn't you hear what I said" I then told him well I need my money can i give transfer instructions to which he replied " it takes a few weeks to finish closing your account and you will receive a check in the mail".
I think that the reasons for the closure is prejudice to dual us citizens, non us citizens if the accounts are small.
BOA could have accomplished the very same being nice advising customers and letting them withdraw funds before closing the account but the nasty mean attitude they have to 40 year customers merits a class action suit against BOA for prejudism and witholding customers monies. Anyone interested. How about a good lawyer?
I agree. My account was closed with no notice. We need answers. What can we do?
Same thing happened to me. Account closed after 26 years. Good credit, dual citizenship. Bank of America is un-American. They should rename their rotten bank to Bank of North Korea. They are contrary to everything this country stands for
My best guess after reading dozens of these comments is that Bank of America no longer wants decent and responsible customers. They want irresonsible customers because those are the ones they can make money on via late fees, penalty fees, increased interest rates. They are predatory.
I’m in!
I recently opened a BOA account as I relocated due to employment and my old bank had no branches in the area. Days later I received an email that my initial funding had not gone through (even though the account I used to fund it showed a debit by BOA) so I called BOA customer service and was notified my account was closed due to a "risk". When I called the closure department they told me "basically, Bank of America has decided not to do business with you" and gave no further detail. I'm a upper-middle income, excellent credit ranking individual who holds Amex cards, Chase cards and receives extensive background checking to work in the defense industry so I honestly can't fathom that BOA actually had any real reason to classify me as a "risk" that none of these other organization seem to find. Furthermore, I have credit monitoring services and therefore know that there are no discrepancies on my credit report that could have caused them to make this decision. I honestly don't mind if they just don't want to do business but what upsets me was the poor customer service and lack of communication during the process. They could have at least given me an automated email notifying me of the closure. BOA undermined my confidence in their organization for life - I'll bury my money in the back yard before I'll trust them to hold it.
I’m just assuming but I think I’m right when you’re saying defense industry you mean the armed industry which is considered a high risk industry. Which the bank doesn’t want to be associated with in any way shape or form.
Was a customer of BOA since 2006: checking, savings, 3 credit cards with Total credit limit of 110K.
All 5 accounts were closed, was traveling that time and run into that big time surprise. Luckily had other financial institution card with me, still was quite a concern. I never was late on payments, have descent balance on checking/savings, had couple auto loans paid off with BOA
When I called to find out why none of my 3 CC not working, I was told it was closed 3 days ago and I will receive a letter in 7 buzin days, btw they spoke to me like I some criminal. This is I guess what called loyalty...
Ok, whatever, another concern: I had over 500K points on credit cards with them and received a letter today from bank that reward points FORFEITED...I mean guys, honestly? Those points were earned at BOA, but it was big amount of $ spent to earn them, I could spent it at other bank, but I preferred BOA. I tried to cash out points online, since they all shown still at my BOA profile once I'm logged in but I wasn't able to, system doesn't let to.
Will call to dedicated department tomorrow and fight for my points.
did you get your points back? My bank of america account just got closed today for no reason. I have $8600 cash rewards on there and they said they are forfeited ...
You may wish to review this article
Bank of America freezing accounts of customers suspected of not being US citizens
https://www.sacbee.com/news/business/article217567300.html
And this petition:
Tell Bank of America: Stop asking customers about their citizenship status.
https://act.credoaction.com/sign/bofa_immigrants?sp_ref=446624727.4.190362.o.1.2&referring_akid=29782.1962098.oSoQ_o&source=clickcopy_sp
@BankofAmerica Bunch of crooks! They close people's accounts down with no remarks, and hold their money at ransom until the account is fully closed. Then they release a cashier's check, but won't let you get your money out of the branch.
Same thing happened to me two months ago and I have not received my checks. Any advise?
Ignorant [censored]! I own 3 companies each bringing in over a million a year, perfect credit and perfect accounts and bank of america decides to close my accounts…. see your [censored] in court! my attorney loves a good fight and so do i.
Hi Don, Can you share the contact of your attorney? they closed my accounts too with perfect credit and accounts. Thank you.
It's happening to me now they just told me I have to wait until Jan 31, before they will send me a cashier check. I'm on a fixed income and my check gets directly deposited every month. I now am going to get evicted because I have no way to pay my rent. I didn't even do anything wrong had both my accounts with them for 20+ years. I don't know what to do this is all bad for me im going to be homeless because of them. I hope people stop using them to do banking it's just a matter of time for it to happen to them. They [censored]ing suck
Wow just researched this when it happened to me, shut down 2 of my accounts with no information, and yes every word of previous experiences is true just been through it with BOA. Obviously does not make any difference to them, i am taking my business to another bank
Same ting just happen to me. They said it was a business decision, no explanation, no nothing. I have good credit, credit cards and a very decent income, still no explanation. I wonder what is going on and what is driving these decisions for them to turn away customers.
Bank of America doesn’t have to provide you with any information . As well as you don’t have to give the Bank an explanation on why you’d like to close your account if you decided to. The problem isn’t the Bank it’s the customers that don’t know anything about running a business / reading the contract or getting an attorney to dumb it down for you. Have you ever been inside an establishment where they have a sign disclosing we reserve the right to refuse service? Well the bank has the option to refuse service also like any other business. Just as long that it’s not under the bases of discrimination in any form race, religion, gender and etc. And if you think banking with any other Bank will solve the issue think again. 99.9% of Banks will decline your request to bank with them on the spot the other 0.01% of Banks will eventually close your account for the reason Bank of America stopped doing business you.
I get your point, but I already have a fifth third checking and a Chase savings, so the reason may be different as to why they are making this decision. Generally when I close my account, it's always a reason (e.g. bad customer service, fee, etc.) and I always provide them an explanation. As a business, you should be able to provide an explanation as to why you're choosing not to do business with someone. I truly believe they are being discriminatory with their practices and not providing an explanation might go deeper than something that we don't know about. Wasn't bank of America accused of closing or freezing Iranians accounts. This couldn't be too far from the truth. Something is not right and I'm not going to force my money on anyone who doesn't want it when clearly other banks do. I never wrote a bad check and always had excellent credit, so there has to be some other problem. I wouldn't be surprise if Bank of America face a class action lawsuit for some fishy practices, something is going on. I thought they were in business to make money. I guess not!
So as not to be litigated by any bank, "$^$^* of ^()&&" refers to ANY bank in question. Just fill in the BlANK.
Make it your mission in life to tell friends and family absolute lies and horror stories about "$^$^* of ^()&&"...Bad news travels faster than good news and sticks around much longer...this will discourage those that hear the news NOT to bank with "$^$^* of ^()&&"...
Go [censored] yourself
Go [censored] yourself
Something super fishy is going on with B o A!
Same thing happened to my wife and I. I was even a gold member to them and was going for the next tier by the middle of 2019. The way they did the call sounded threatening and as an ultimatum. Talk about total lack of customer service for someone that is a gold tier partner. They blocked our credit cards which were paid on time and even where in the negatives, meaning BofA had excess credit on it. Took us almost 2 weeks to find out it was because we were non immigrants thanks to a friend that works in the bank.
Our Non-profit account was just closed without any warning. We were only sent a letter in October that our unused credit card account would be canceled, but nothing about our business checking account. When we went to deposit our latest donations, we found that the account was closed, and we received a letter that day saying that our credit card was canceled, along with "any other associated accounts because your risk profile no longer aligns with the bank's risk tolerance." ?!?
When I went in to speak with a bank manager the next day, she called a number and the person she spoke to said that they tried to reach me claiming that there was something that needed to be updated on the account, yet we confirmed with the manager that everything was up to date. They claim to have called two older numbers that we no longer use, yet they clearly had my current number, and they had no problem contacting me at that number before, as recently as three months ago. It was almost as if they were just fabricating any excuse to close our account for some reason.
The bank manager was visibly embarrassed and apologetic on behalf of the atrocious behavior of her corporate employer, and she said that we should have received a letter regarding the potential closure of the checking account, which we never received, and there was no record that it was sent. Only a letter about the credit card closure, which did not affect us. She mentioned new regulations in October that were implemented to crack down on potential money laundering and foreign accounts, and I think this is exactly what it was about, though we are neither. The bank had no trouble contacting me for an odd, extended interview several months ago regarding what we do and where we send our funds. We raise money to send to Central America for educational purposes, and I think that is what B of A found "risky" without telling us up front, and without ever letting us know. As a result, we are left without an account for our holiday fund drive. They said they sent me a check for our balance, but I have yet to receive it, and I am legitimately concerned that it will not arrive as promised. What recourse do we have for this delay? This is awful and irresponsible behavior, and it clearly indicates their lack of concern for their customers.
We will NEVER do business with Bank of America again. This is wholly unprofessional and discriminatory, not to mention completely disorganized, seemingly on purpose. The manager said there were several other cases like ours that she had dealt with, and that she would not blame us for wanting to do business elsewhere. I'm disgusted by the lack of customer service, the lack of communication, and their disorganization. I hope they are fined for fraudulent and discriminatory business practices. Shame on you, Bank of America. You are going in the wrong direction and punishing legitimate customers.
So this just happened to me as well and I was super panicked but I got another bank now and my direct deposit will go there. I noticed there are several hispanic names listed here and I am hispanic as well. Could Bank of America really be racially profiling people?
Same thing just happened to me. Now I'm left trying to figure out how to pay rent while I wait for a cashier's check. No correspondence from them until I called, and would not provide an explanation. I guess they don't have to. Real professional! What a joke! Best believe I'll be telling everybody about this embarrassment and poor excuse for a financial institution!
Wow, this is so crazy to me! Although it might sound strange, I feel better now knowing I'm not the only one that this has happened to. I've just spent the past few hours panicking after opening up the letters in the mail letting me know that both my business checking and savings accounts have been closed for no reason and I will never be able to open an account with BofA again. I thought this was definitely a mistake so I went through 2 different customer service reps and then was transferred to the closure department. The guy wasn't rude to me but definitely wasn't friendly either. After giving him my information all he did was read off the agreement from opening the account that says myself or the bank has the right to close any accounts without explanation for any reason at any time. I said..."okay, so there isn't a reason?" He said that's correct, they don't have to give a reason, it's just a business decision. The other odd part is that the closure letters were dated only 2 days after the other letters I got saying thanks for opening your accounts, here's your debit card and all the information to enroll online. The customer service reps were apologetic and helpful and said please let us get this sorted out for you so we can reopen your accounts but then the closure department guy said they've been closed without reason and that's that. It is embarrassing and aggravating. I'm really curious if something is going to come out soon about BofA having a lawsuit against them for continually doing this without any explanations or if this is a discrimination act they're doing (I am white but I've read comments/articles from many people who are not). I've looked at several business sites that say, although banks have the right to not provide an explanation, generally banks "do the right thing" and will let you know why they made that decision. Not BofA I guess. Now I'll try and find a new small business bank that's hopefully a great one!
Man I feel better (slightly) after reading all these comments - I got a letter on May 6th saying "your deposit accounts listed above will be restricted from use in 50 days and permanently closed 60 days from the date of this notice"
I went the same route, called the number on the bottom of the letter and finally ended up with this idiot (Jesus [protected] - naming and shaming here deliberately 'cos these people need to be called out). He came out with exactly the same body swerve stuff. I said I wanted to talk to his boss because this is obviously a mistake - We have banked with BOA for years, had both personal and business/merchant accounts, have exceptional credit ratings in the 800's, have never gone overdrawn, missed a credit card payment etc etc etc... He then told me he was the Account Manager for my account and there was nobody else to talk to. So I said well if that is the case then you must have been the one to make this decision to close my account, so you can give me a reason why. Needless to say he just went back to the script, so I called him out and said 'you're not an account manager you're just a mouthpiece for a s**thole bank' and hung up. Have arranged a confrontation at my local branch next week, who helped me and actively encouraged me to set up my Business Account with them. Be interesting to see how that goes!
They did the same thing there doing it to all there customers they won't be in business long I'm working on that.
Same thing happened to me, credit score over 800, big balance, never late on payments, closed without valid reason, just "it's a business decision". I wonder if it'll cause my other banks to close my accounts too but so far all my other accounts with other banks are active and normal.
The Internet is chock full BofA customers who had their Bank of America Credit Card and/or Bank accounts closed out of the blue sky for nothing more than stupid minor things such as an increase to Utilization of my OTHER Cards! It happened to my Nephew last year, I thought he must be mistaken & it was something he did wrong, but now they just did the same exact thing to me 16 days ago!
In 2016 I had 810-816 FICO with 0% Utilization, which is normal for me because I only use Credit Cards as a tool to buy/resell make money. THIS is when I obtained a BofA Cash Rewards card $10, 000 Limit and BofA Platinum Plus $18000 Limit.
17 Credit cards $151, 800 Combined limit. last month April 2019 I bid/won/bought $59, 800 worth of equipment from RB Auctions & spread it out across my Credit cards, paying with several Cash back cards & utilizing 0% Offers on others. (Been doing this for years using Credit cards) At 39%~41% Utilization my FICO Score dropped to 659, but this is expected, it goes right back up again when I pay everything off as I've done for the past 40+ years.
Bank of America suddenly closes both my credit card accounts 16 days ago out of the blue sky with no warning/explanation what so ever. I first learned of it when logging into my online account, both my account were GONE! VANISHED!
I recently just paid off both BofA cards & still had over $200 Cash Back Rewards Balance too, but suddenly no online access to anything!
Called, they told me they closed both accounts due to Utilization suddenly jumping up to 39% on my OTHER CARDS, NOT THEIRS!
Do yourself a favor, don't do any business with Bank of America, do your research, you will find the internet is full of reviews like all of these you read above & below, this bank & all it entails is S C U M right up there with CHASE! The 2 worse POS companies EVER.
Nothing similar has ever happened to me before in the past 42 years since 1977 when I obtained my very first Credit Card. Over the years I've even had Utilization rates as high as 70% with nothing like this ever happening to me.
DO NOT DO BUSINESS WITH BANK OF AMERICA FOR ANY REASON!
Dis they return all your money to you?
I just had the same thing happen to my father's account. He is 95, legally blind and lives on a fixed income. I was told that a check was mailed from Atlanta and he would receive it in 7-10 days. The manager was not concerned that he would not have access to any money to buy groceries for that time. Terrible bank! Do not ever do business with this bank!
Same thing happened to me today as well, out of nowhere got my 8 business accounts closed, 3 personal accounts, 3 credit cards with combine credit line of $160, 000, I got 820 credit score, never missed a payment all business/personal income tax paid, no debt and been with BOA since 2003 with a combined monthly balance of $150k+, . I called the number that was given to me when I was transacting a withdraw. The rep kept repeating the same crap "When you opened an account with us you signed a contract that you may close your account without cause, and we are exercising the same right, and there's nothing I can tell you except that it was a business decision" 30 mins later on the phone I put my personal business banker on the line with their corporate office, this time the rep even said if we asked more information about the account closure the rep himself might get indicted on some federal law that nobody knows about. 2 days later the regional manager called and apologized about the accounts closure, saying the best she can do for me is to file a formal complaint, I'd really like to start a petition through my lawyer and see how far law abiding citizens like us can fight this, anyone?
I agree. They closed my student account and said I could not bank with them. No reason no letter no notice. I had 3k in there for school. I’m lucky my mom (joint) watches the account so she found out it was in closure by calling and being routing to risk Dept. No reason was given. She took the money out in time. But really they should give 30 days and a letter. I have great credit no chargebacks no claims always funds available.
@ckeleganz Were you able to find out if there is anything we can do with a lawyer? I received a letter saying they will close my account in 15 days and since My mom (66 years old) is authorize on my account all account she has on her own or somebody else will be close too! What is wrong with BOA? more than 20 years of banking with them, never over draft, on the contrary the made mistake a huge with my account long time ago and now this and they just keeping saying i just a business decision basically is like if they said "because i said so"
Us too, We've even banking customers with BOA since 1987, 6 accounts, personal, business, and credit cards, 800 credit, perfect history and BAM, 6 letters in the mail telling us the bank has decided to close our accounts. During a call with customer service, they said it was a business decision, yet they could not give me a reason why. On top of that, I have never spoke to any customer service person that was so rude. Then they have the audacity to send me a survey about the call in my email...are they delusional or what? A visit to my local branch yielded the same results, apparently, they are so indignant, they do not want to empower the branch personnel to get involved or try to help. The decision to close the accounts is FINAL and there is no appeal, recourse and department above customer service to talk to. So, SCREW them, I will do everything in my power discredit them and cause banking business to go elsewhere. They are the worst bank I have ever known. I wish the CEO would loose everything, none of the management deserve anything considering this is what they do to their customers. IF there was legal recourse, I would pursue it, but have been told there is northing I can do. They suck, that's all I can say!
They closed my account today . WTH i was just in the bank and made a deposit. My baby is having surgery in the morning so around 7 I went to check to make sure my direct deposit hit and could not log on. I called as was told my account was closed why wasn’t I told before I made a deposit. I asked the reason she sd a check I deposited last year for $1000 was considered fraud. Excuse me! Someone was buying a car from me gave me a check that Boa held for 14days never released the money and the check as no account found. I called the bank to see what I needed to pursue this person they said small claims court but they never released the money so it did not cause any damage just a 35 fee. The young lady made good on the check paid in cash. So how the hell do u close an account for something that was a year ago. I have no money they will cancel the surgery. I get paid in the morning u will have all of my money over 4000.00 the surgery is at 6am. I can’t even got to the bank until they open and by these response they are not going to give me my money. I went online to open another account. I have been denied by 3 banks . Never bounced a check or had any problem other than a year ago. I just bought a car trying to buy a house but now they have flagged me from getting another account . Why!
Same here! Been with them (BOFA) since 2006. Used my card yesterday morning then around noon got an email alert saying my account dropped. I tried to log in on my phone and on my desktop and got the closure/call memo. The rep was very nonchalant and indignant to the point where I had to hang up on him to keep from reading his [censored]. Called back later spoke with a supervisor and she wasn't any help either. To add insult to my injury my direct deposit was due to drop this morning so my payroll check is now floating in the damn air and the supervisor told me they would have to put in a request to allow me to pick up my funds from a branch but it will take some time a few weeks.. They also said going into a branch wouldn't help... No fraud has been committed & I was Cancelled with no prior notice after all this time. BTW I'm African american and I was born right here in whats left of the USA
Same thing happened to me... perfect 20 year account.. business account.. the only difference with me is they said if I opened a merrill lynch brokerage account I could stay and keep my relationship. by the way a merrill lynch has a $250, 000 minimum. i'm not a lawyer but I would call that extortion... I file a complaint with the office of the comptroller of the currency.. the occ... I had almost that amount in my checking...
I can't figure it out... if they don't want me.. who the heck do they want?... seems to me they don't want good people who don't generate fees... I don't bounce checks or have account charges... the majority of postings here are high quality financial people... we don't generate bank fees..
Love to hear what other people think.. wells fargo is loving this...
Ace jupiter
My account was close too without explanation the bank said they can’t tell me anything no explanation that I sign a paper at the bank opening that they can close anytime
BOA is a BS institution! They are full of liars and dirt bags
I too have received the aforementioned closure letter today. Quite to my surprise I must add. I've had a banking relationship with BOA for over 16 years, the last 7 years I added several business accounts. My credit is over 800, had a boa credit card with a $60k limit never late, never above 30% utilization. Today I was told that I am operating a business type they have chosen not to service, really? I have a tax and notary business and keep over $200k combined in my business accounts at all times. Not only did they state my accounts will be closed soon but they have already taken away my 250, 000+ reward points. Luckily, I called into customer service and after 3 transfers, was able to speak with a gentleman who applied the points to my $2, 100 card balance. I will be withdrawing all of my funds first thing in the morning. I am in Florida, any suggestions on a better bank, Wells Fargo is not an option...
My account was closed today with no explanation they told me that they will send me a check surprise to see all this comment
My account was closed without my knowledge on 12/13. When I called to ask why, BOFA was rude and told me I would get a check in 10-15 days. I live in Alaska and the rep even laughed it might take longer. I called today to check the status of my check and was told it wasn’t going to be mailed out until 1/28. BOFA rep said I was going to get an account closure letter as of 12/30 and I would need to go to a branch to get my money. I live in Alaska, there are no local branches. My only option is to fly to Seattle. So now I’m looking at my check arriving the first week of February. I am so annoyed,
I’m going through the same thing did you ever receive your check
Very Upset with this Bank of America situation, how come they can close an account without even tell you why?.. It feel powerless, like the big bank can abuse you and you don't have any right to complain or demand an explanation.
Wonder if CFPB will regulate them. They close my accoun and since my mom is authorize on one of my accounts they said or her accounts will be close too, how you can do that to a 66 and 76 year old people. Urrrrgghhh
They did it to me! My account was opened 30 years ago with Fleet and now BOA. Too bad for them, I just setup my paycheck to auto deposit with them. I will tell all my kids to close their accounts too.
Bank of America is crooked Bank Because there not Honest with ME & and their Customers.
If they aren't making any money on you they don't want to do business with you regardless of your past relationships. It wasn't all that long ago they were begging people to take their credit cards even extending to them low interest rates on balance transfers as well guaranteed them 0 or low rates on new purchases for many months. They probably used a computer program to cull certain accounts which don't meet their profit motive. My account was an American Express which had been acquired by BoA. There was a time that with American Express you needed very good credit to obtain an American Express card and they wasn't concerned about how much you spent but that's not the case with BoA.
In my case they were making plenty. Between my credit cards, mortgages and auto loan they made no less than 3500 a month in interest/finance charges
I got a notice to close my accounts . my question is it easy to open an account with different bank?
Guess what guys, years later and they are still doing it. Exactly the same thing happened to me. I paid all my bills on time and never overdrafted. I used my credit card for normal things like Amazon and Netflix. What really gets me is the way they do it. If something in my account flagged a computer somewhere, how hard is it to just send me a text and have me come into a branch and resolve the issue? What is it that makes them so afraid to just tell the customer what they've done that's not compliant?
It gives me some comfort but at the same time makes me incredibly sad and angry to see so many other people have been treated this way by no fault of their own, and to see that the bank has been doing this for years. Seriously BoA, this is why people buy bitcoin.
Is everyone here conservative? I think this bank is owned by leftist turds and they have ways of finding ones political leanings.
Yes I am. I banked with them for over 30 years both business & personal. I am a good customer who up until Covid ran a good amount of $ thru my accounts. Though they claim to have sent me a letter informing me of my pending closures, I never received one, nor a text, nor an email. I was told my accounts would close March 1. I went to bank today Feb 26 to zero my accounts & was told by teller they were already closed. Now they can keep my $ for 2-3 business to cut a check & 7-10 business days to get it to me. I guess that will be lost in the mail too. This is a scam & political retribution. " We don't have to tell you the reason "
Mike, Harvey, no this has nothing to do with political views. My gay partner and I are extremely liberal. Her account was just closed under the same circumstances. They "lost" her check for the money that she had deposited in the account in the mail, won't put a stop payment on it and refund it until September. It's a Bank of America problem, it is despicable, but it has absolutely nothing to do with politics. I am sorry that the two of you are going through this.
Same thing here. 25yr account holder. I have 3 credit cards (1 personal 2 business), 5 bank accounts (2 personal 3 business) never less than 100k in total deposits combined, currently 600k+. No lates ever, no negative balances ever. I have a 780+ credit score and am not involved in any shady businesses or transactions. Unless you count the PayPal deposits I get because a renter pays me via PayPal.
Reading these comments sounds is right on- incredibly rude "customer service" when you call the "Risk Dept" that everyone keeps directing me to. All they literally say over and over is "If you would have read the contract you signed you would have seen it says we can close the account anytime ..." I am concerned someone is using my name or social for fraudulent activities or something and not only will they not tell me anything they basically tell me to piss off. It is by far and away the most unbelievably unprofessional and inexplicable situations I have ever dealt with.
To add to the slap in the face is the fact the shut off all my credit cards before I could have possibly received the letters they sent, and in doing so I lost all my cash back rewards that I had built up.
In summary, B of A treated someone who was a 25yr+ sterling client for them (I have had numerous mortgages and auto loans paid off thru them over the years as well) like a flat out criminal, will not give any explanation of why and caused me monetary harm by essentially stealing my credit card cash back rewards that I had yet to use which was a fairly substantial amount, not to mention all the checks I need to buy again when I reopen my business accounts elsewhere and the hours of time I will have to spend re-setting up all my auto pays and auto deposits.
I will spend every opportunity I have as long as I live to persuade people away from this institution and take advantage of any way to legally harm them financially. I have a lot of resources and time on my hands and will make my little dent on this place.
Last month, my bank account was being closed by Bank of America as well without any reason. They told me that they can close any account at any time as they like because it was written in the contract. They even lost the check in the mail and I have to make a request for them to resend it.
The same thing happened to me with Bank of America. They just closed my accounts, my credit card, I lost all of my cash rewards I had accumulated etc.
I have been reading many of the exact same stories on numerous boards. Why doesn't anyone mention the word "Class Action Lawsuit"?
I just received the same letters in the mail... 2 of my accounts are closing yet my other accounts I keep most of my $ in didn't get the letter. My wife and I keep a substantial amount in B of A but these accounts always were the ones we used to pay bills but kept a small balance in (under $10k)... But everything we have auto-debit' are on these accounts which is a real pain so, they are going to lose all our accounts because if Im setting all that back up, it might as well be at another bank! (yes i was a 25+ year customer also with perfect credit etc)... They make stupid decisions apparently, or they only want people that over-draft so they can collect fees like crazy. They don't want financially responsible customers
Can you share the number?
Bank of America block with $80000 but I got someone that help me out with it you can contact this number (720) x928-6964
Everyone be careful calling random numbers and giving personal information out. Could be a scam. Best bet is to contact the OCC regulator!
They did this to me today. No letters or emails and I even checked my online bank documents if there was any notification sent out. I only found because we released payroll last Friday and one of our employees said that the bank refused, that there was a problem with the makers accounts. I have no idea what that meant so I called BoA and sure enough was sent to Risk Dept that told me that closing my account was a business decision. They have no reason and they say that talking to a supervisor won’t help because that is the final decision. They would mail me a cashiers check. If I can just verify the address. I said no I’m not going verify any address. I want to know what is happening! I’m like you’re going to send hundreds of thousand of dollars via cashiers check through the mail?! Do we not live the US and are we not in the 21st century?!? I went to an actual bank and the same there was nothing they could do. I asked them, no begged them, please tell me why this is happening to me. They have no answer. They made me feel like I did something wrong. And here I am concerned that someone has hacked into my business account and did something. I couldn’t even take out money. I told them this is a business and I have to pay my employees. They don’t care. At the very least, as a human being, I am owed an explanation of them treating me this way. It was so degrading. I started looking online and I was very surprised this is happening to so many people. How is this legal?
I’m going through the same thing with a lost check after BOA forced closed my account. Did you ever receive your check?
I agree same thing just happened to me also 5 days ago been with them 20+ years. My check gets directly deposited and I have no to stop it or have a different account for it to go to. Now I can't pay for my rent all my bills food nothing. And I was told that my check will sit there for a hole billing cycle. No top of all that I had money in both checking and savings that I have to wait to get it by them mailing me a cashier check wtf. I have no money and am disabled on a fixed income. I did nothing wrong my account has always been in good standing. If I knew how to go about starting a class action lawsuit I sooooooo would. I will probably end up homeless over this because a new check can't be issued until they get that one back and it's going to take at least a hole billing cycle. I'm lost and have nobody to ask for help my stressed beyond belief. So please if you see this and hear of anything let me know please. Thank you
Yeah something very similar happened to me the day before Thanksgiving. All my money gets direct deposited every month. They they will send me a cashier's check "SOMETIME "after January 31st. But I have no money on hand because they have it all I can't even get toilet paper and have no one that I can ask for help. I going to get evicted my phone shut off. I can't believe they can do this to all of these people and get away with it I did absolutely nothing wrong to loose both of my accounts that I had for 20 + years. I'm at a total loss of what to do. The amount of stress this is causing me unbelievable. I wish there was a way to get a class action lawsuit because this is just not right at all.
Ok so I just brought a check in to deposit and they wouldn't allow me a cent, told me there was a hold...ok whatever well the next morning at 1 am I got a email saying there going to hold it till the 19th...the next day I can't log into my online banking, so I call bank and apparently the shut my account down...why would they take a 40,000 dollar check and then shut me down and take our time on your deposit...wtf
The same thing is happening to me as well, couple days after I deposited a large check they shut me done
The same thing just happened to me and my 2 business partners. We own a hospice and receive payments from the federal government. Never had a low account balance or bad check. No negative banking history. Excellent credit scores for all 3 of us. and they closed all of our accounts with no explanation.
I’ve had a Mastercard account with Seattle First National Bank, and afterward with Bank of America (who took Seafirst over), since the 1960’s. I’ve kept this credit card account because I’ve had it for more than 50 years, since my student days. Two days ago I logged on to check my Mastercard account, which I seldom do, and was asked whether I was a dual citizen! I was shocked and dazed by this question. However, I did provide an answer. I will shortly close my MC account with this xenophobic, anti-immigrant organization, who likely have a mindset that the recent election was “stolen” due to participation of undocumented voters / immigrants. Shame on the management of Bank of America!
05/30/2021