Account closed after 26 years. Bank of America recognizes that many of its borrowers are losing work amid the COVID-19 outbreak — and, as a result, struggling to make payments on loans they've taken out with the bank. Along the way, I’ve learned a lot about customer service and online-only bank accounts, businesses, and branches of government that protect consumers – and how far up the chain you need to go to get results. 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. 30 days came and went, account stayed open. Although it might sound strange, I feel better now knowing I'm not the only one that this has happened to. 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. Visit the IRS website for more information on how to receive your payment. Everybody should stay away from BoA. 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. If you are receiving the money by direct deposit, ask Erica to set up a direct deposit account alert. Maybe they are just putting a hold on her check to you if they got notice that she was deceased until the executor takes over the account? 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, Same here!!! I deposited the check back on November 10th and had most of the funds on hold until the 19th then the check cleared. I was told that a check was mailed from Atlanta and he would receive it in 7-10 days. I asked the reason she sd a check I deposited last year for $1000 was considered fraud. ), or was it a signed check found in her checkbook or other papers after her death, or was it a check issued to you by the executor of her estate? Took us almost 2 weeks to find out it was because we were non immigrants thanks to a friend that works in the bank. As of now I have about $32k total that is just sitting and cannot do anything with it and am frustrated because that's nearly all my money and cannot wait for almost two or three weeks to get a check in the mail when I have bills and other things to pay for within that time. Send a written request to close the account to: Bank of America, FL1-300-01-29, PO Box 25118, Tampa, FL 33622-5118. Your deposits at Bank of America are FDIC insured up to $250,000 per account. 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. Banking Deal: Earn 1.85% APY on an FDIC-insured money market account at CIT Bank. We closed them ourselves and went to BB&T. 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. I immediately contacted my bank (BoA) and was told there was a note left with a number to call. I have questions about the amount of my payment. Be interesting to see how that goes! my question is it easy to open an account with different bank? I called today to check the status of my check and was told it wasn’t going to be mailed out until 1/28. I went to the branch at 1020 Holcombe Blvd in Houston and the 2 reps who tried to help were rude and unprofessional. Your letter caused us to learn that the grass really is greener on the other side - thanks for pushing us out. I spoke with several reps on the phone and going into the branch with no resolution. Only a letter about the credit card closure, which did not affect us. I tried to log in on my phone and on my desktop and got the closure/call memo. How can I convert a JPEG image to a RAW image with a Linux command? @mistasteve I called to know what went wrong or the offense we committed but the couldn't give any reason. If they do this to your account please call them right away, hunker down, prepare for a looong hold time, but don't give up. Good credit, dual citizenship. I think that the reasons for the closure is prejudice to dual us citizens, non us citizens if the accounts are small. © 2004-2021 ComplaintsBoard.com. ... to help keep your online accounts even more secure. 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. Five months, if you bank with HSBC. Now that the account "passes" your audit (for a phone number?! Was a customer of BOA since 2006: checking, savings, 3 credit cards with Total credit limit of 110K. 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. site design / logo © 2021 Stack Exchange Inc; user contributions licensed under cc by-sa. DON'T GO TO BOA!!! 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! If you have a history of overdrafts, it's possible — and even likely — that the bank will shut down your account, according to the FDIC. I had left a message to the number that way they could call me the next day. I have great credit no chargebacks no claims always funds available. Never bounced a check or had any problem other than a year ago. closed my credit card account, Countrywide Home Loan - Bank Of America - fraud and misrepresentation, abuse of customers, Bank of America - dishonest refinance good faith estimate, Bank of America Financial Center - credit card, Bank Of America/fia Card Services - not honoring written agreement, fraud and misrepresentation, abuse of customers. Our account had a paltry .50% rate of interest, and I wasn't expecting them to raise the rates anytime soon. 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." If you have an account closed by the bank, you need to understand what that means for you. My bank account was closed and I have Direct DEPOSIT what happens now with my refund? First, if your account has been closed you should not be able to use your debit card in any format. You will get no more of our business, and we will share our experience with everyone we know. 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. Saving your Online ID means you don't have to enter it every time you sign in. This is merely for historical purposes and will not affect your credit negatively. 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??? Earlier this week I had tried to buy food with my debit card but the transaction was declined. When I asked why they were being closed I was just told that it was a business decision and couldn't give me any further details. Just got off the phone with EDD. Many times, there is no remaining balance, particularly if the bank paid a check that overdrew your account. Call Bank of America at 800.432.1000 to close the account. It is a humiliating experience to try to talk to somebody at the Bank of America about the account closure. If Bank of America went out of business, your money would remain safe. I was stunned to see they closed my account for no reason I can possibly think of. @IlyaM To subscribe to this RSS feed, copy and paste this URL into your RSS reader. Bank of America will reactivate a closed account if an electronic deposit or credit, like an automatic bill payment, is made. I was a customer for over 40 years. @mistasteve This is I guess what called loyalty... 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. The strange thing is that I have an excellent banking history, high credit score and never defaulted on any payment. Bank statements are important financial records. How to clear a saved Online ID . They should rename their rotten bank to Bank of North Korea. I had gone to one of the branches to get more information about why my accounts were being closed and told to contact the same number left on the note. 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