I also am left wondering what *really* prompted BOA's actions, but if it was me, I'd just demand all interest that is coming to me, and move to another bank*

First things first: cancel your direct deposit !!

* SiS has said before that AOR games, investments, and vanilla checking involving salary are best spread between banks. I think this is very, very smart advice; especially for people who look "funny" to banks, or upon inspection are not profitable customers. Like us.

EricGo07 said:I also am left wondering what *really* prompted BOA's actions, but if it was me, I'd just demand all interest that is coming to me, and move to another bank*

First things first: cancel your direct deposit !!

* SiS has said before that AOR games, investments, and vanilla checking involving salary are best spread between banks. I think this is very, very smart advice; especially for people who look "funny" to banks, or upon inspection are not profitable customers. Like us.
1.) I was told my accounts were closed for moving large amounts of money out of Bank of America, even though most of it was within Bank of America.
2.) Yes, I've already cancelled my direct deposit. Luckily I have another bank I can use immediately.
3.) The AOR checks had been deposited for more than 60 days (after the NEA promo rate ended) before I started moving any money around.

The entire situation is almost surreal. I'm still having a hard time believing this happened to me. I've been a long-time customer of Bank of America and I've never had any problems -- overdraft, bounced checks, late payments, or otherwise. It seems to me like a completely knee-jerk and unwarranted reaction by Bank of America. I feel like I'm in shock right now.

DavidScubadiver said:Meadowlands said:This is one of the reasons why I hesitate starting an AOR. You never know what these CC companies and banks will do as soon as you start moving large amounts of cash around. I really want to start doing it but when I hear a story like this it kinda makes you second guess.Pretty much you know they don't care when you move large sums of money in and out of the account. In this case, no large sums appear to have been involved. The CSR conversation that was relayed is just bizarre but doesn't suggest to me that 0% money had anything to do with their decision. But, if my number comes up and my accounts are closed, its been an extraordinarily profitable run and I'm glad I was in the race for as long as I was.

The thing is if they look at my spending history, the most I really moved out was about $5k to buy a CD. If I do an AOR and start moving around $10k+ around and doing BT's, putting into savings, taking out etc it will look like someone got my info. From reading the OP's post, it kinda throws a stick into the spokes...

If a racial slur was used, BOA does need to be taken to task. IMO; I don't see the benefit of going to court, what are you going to sue for? Is it enough to be worth the trouble? I very much doubt it.

I agree with going to the media about this. The OP may not be new comer but some of the ethnic newspaper would be more inclined to take up the story.

Heck, I would call back and ask for the same SOB CSR and record the call.

If the accounts were initially closed because of an error, that would be one thing. But now you've talked to them multiple times and it's clear they just don't want your business. I would not spend one more minute of time into trying to get back with them.

Clean up the mess as best you can, get established at another bank, and you know in the future to spread accounts out at multiple banks to protect you against this kind of heavy-handed treatment. I have accounts at three banks and my main bank calls me about 4x/year to see if I'm a happy customer and to ask what they can do in order to get all my business. I know full well the only reason they care is because they don't yet have all our money.

kranky said:If the accounts were initially closed because of an error, that would be one thing. But now you've talked to them multiple times and it's clear they just don't want your business. I would not spend one more minute of time into trying to get back with them.

Clean up the mess as best you can, get established at another bank, and you know in the future to spread accounts out at multiple banks to protect you against this kind of heavy-handed treatment. I have accounts at three banks and my main bank calls me about 4x/year to see if I'm a happy customer and to ask what they can do in order to get all my business. I know full well the only reason they care is because they don't yet have all our money.Maybe he'll be blacklisted and be unable to open up a new checking account elsewhere. That'd be ashame. Let us know how it works out OP.

captainwho said:DavidScubadiver said:This is why I bank with State Bank of Toledo. They are always polite, pay me 6.01% and don't mind me moving in and out $100,000 a month like the tide.Wow, is there anything State Bank of Toledo can't do!
Let you serve alcohol in the meeting room.

What to do now? Timely documentation
1) Per the EFT Act 15 U.S.C. 1693f, write a half-page letter with

• name and address
  
• account number(s)
  
• simple description of error: debits for $888,888
  
• simple statement of your belief there's an error: you never authorized the debits

2) Mail it certified to the regular bank correspondence address, not the bank by mail address. Try to get it postmarked today so you'd gain a day.

If you're not dealing with the Frauds department, chances are BoA will mail you everything by regular First-class mail. This is where you can rake in those civil damages under 1693m: $100<X<$1000 per action.

I'm forbidden to get into specifics, but BoA did settle my small claims (even though I should have filed in a US district court since my state doesn't have a EFT Act). I didn't get any extra damages, but I you can always have a friend serve the papers ... not for free.

theficus said: My cash balance, however, is negative $888,888.88.
If you're chinese and superstitious, you've hit the jackpot, eight 8's!

DavidScubadiver said:Just make sure you don't require consent in your state before recording that call.When you call, if you get a prompt stating that all phone calls are recorded then you can record the call yourself as well... the disclaimer works for both parties at that point because each knows the call is being recorded.