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.