The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

Bank Of America / closed my account for no reason

1 United States Review updated:

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.

Sort by: UpDate | Rating


  • Co
      12th of Apr, 2017
    +1 Votes

    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.

  • Je
      14th of Jun, 2017
    +2 Votes

    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.

  • Da
      16th of Mar, 2018
    +2 Votes

    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.

  • Ch
      17th of Mar, 2018
    +3 Votes

    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.

  • Ma
      22nd of Jun, 2018
    +2 Votes

    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?

  • Sh
      27th of Jul, 2018
    +2 Votes

    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.

  • Bo
      22nd of Aug, 2018
    +1 Votes

    We had similar experience. Simple word, BOA sucks.

  • Fo
      23rd of Aug, 2018
    +1 Votes

    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

  • Mi
      31st of Aug, 2018
    +1 Votes

    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?

  • En
      3rd of Oct, 2018
    0 Votes

    @mistasteve I agree. My account was closed with no notice. We need answers. What can we do?

  • Tb
      6th of Sep, 2018
    +1 Votes

    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.

  • Il
      12th of Sep, 2018
    +1 Votes

    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.

  • Ro
      26th of Sep, 2018
    +1 Votes

    You may wish to review this article

    Bank of America freezing accounts of customers suspected of not being US citizens

    And this petition:
    Tell Bank of America: Stop asking customers about their citizenship status.

Post your comment