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I logged into my Bank of America accounts yesterday to see a pending debit of $888,888.88 on all my accounts (1 personal checking, 1 personal money market, 1 business checking, 3 personal credit cards, and 1 brokerage account). I have had these accounts for approximately 7 months and use them as my main accounts. All my standard transactions -- rent, credit card payments, health insurance premiums, etc -- were automatically debited from my account on a regular basis. My paycheck is directly deposited into my account too. I have never bounced a check, missed a payment, overdrafted, or had any other problem. The only nonstandard transaction I have conducted was depositing approximately $100,000 in AOR money 2-3 months ago (without any problems). I have never deposited or withdrawn cash or performed any unusual transactions, just my regularly scheduled payments.

I called the toll-free support number and they told me I needed to speak with the fraud department. I called them and was told the following:

1.) My accounts have been closed.
2.) They will not or cannot tell my why.
3.) They will not or cannot give me any of my money.
4.) They will not or cannot give me any information whatsoever. Absolutely nothing.

I called my local branch and asked them to find out what is going on. They looked at my accounts and told me it was "ordered by the California office" and they do not have any power to do anything. They gave me a number to call, but they are closed until 9:00 am pacific time.

Has anyone encountered a similar problem before? Any advice? I am freaking out right now because Bank of America was my main bank and they've seized virtually all my money (checking, savings, and brokerage). I have enough money at other institutions to pay the minimum payments on my credit cards for 1 month so I can survive for a bit longer, but not very long. I am really worried because so far Bank of America has said they will not or cannot give me my money back. Which it is, will not or cannot, is unclear because they refuse to give me even the slightest bit of information.

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Has to be an NDA, which he can't even admit there is one. I'm going to assume he won and hes now ultrarich.

DiabloD3 (Aug. 08, 2009 @ 8:32a) |

The same exact thing happened to me today, and it was a business + a personal account. To end off things even nicer, th... (more)

sethman (Aug. 21, 2009 @ 11:45p) |

Request a copy of your file from Check Systems. If they have erroneous information, you can correct it.

kenmoreland (Aug. 22, 2009 @ 1:25a) |

11/06/2007 - I call the risk management department. The CSRs tell me my accounts are closed for moving funds out of Bank of America. They also repeatedly hang up on me and defame me.

11/06/2007 - Theman2 and others suggest I visit my local branch.

11/06/2007 - Another explanation of the situation.

11/06/2007 - Will I be blacklisted by other financial institutions?

11/06/2007 - DeGlass's advice.

11/06/2007 - I make a final call to the risk management department. The CSRs tell me Bank of America doesn't want people depositing convenience checks and proceed to accuse me of stealing/laundering money. Bank of America also reverses all my transactions for the month of November, causing me to incur several hundred dollars in returned item and NSF fees (from Bank of America and my payees).

11/06/2007 - Technologist and others recommend I contact the OCC.

11/06/2007 - The reason I think my accounts were really closed.

11/06/2007 - I reveal the insult.

11/06/2007 - Should people with non-Anglo names perform an AOR?

11/07/2007 - I visit the local branch. The manager again refers me to the risk management department. I also outline my next steps.

11/07/2007 - Another FWF member, glockophile, had a nearly identical experience with Bank of America.

11/08/2007 - My accounts appear to return to normal and new transactions -- both credits and debits -- are going through. I have, however, been charged multiple NSF and "activity research" fees. I also plan on calling Bank of America to request the status of my account and an explanation for all the fees levied against my accounts. I will record the phone calls and post them on FWF.

11/08/2007 - DjPiLL had a similar experience with Citibank, although they eventually apologized and reopened his accounts.

11/08/2007 - The $888,888.88 debits reappear on my accounts.

11/08/2007 - I post an audio recording of my conversation with Bank of America. The CSR refuses to discuss anything and hangs up on me.

11/09/2007 - I speak with another CSR on an unrecorded line. She tells me my accounts are closed as of 11/06/07. She also tells me Bank of America will send me my money when they "feel it's appropriate," minus the several hundred dollars in fees I've incurred. The CSR again accuses me of fraud and informs me there is a note on my account stating "CSRs are not to speak with this individual. He is known to record conversations. Refer him to our legal department only."

11/09/2007 - I post another audio recording. This time the CSR tells me Bank of America "monitors calls but doesn't record them." The notice at the beginning of the call states otherwise.

11/10/2007 - A recap of the facts.

11/27/2007 - I finally receive my money back! I'm now proceeding with my lawsuit against Bank of America.

01/09/2008 - My lawsuit has been filed and Bank of America has been served. The trial date is set for February 8, 2008.

03/01/2008 - The small claims court judged dismissed my case without prejudice and advised me to refile in federal court. I'm pursuing my case in federal court with an attorney at this time.

Sue them. Yes, I am serious. Theft would be a good starting point.

codename47 said: Sue them. Yes, I am serious. Theft would be a good starting point.

Seconded. They may not be open until 9:00AM, but I bet you can find a lawyer by then. Get representation ASAP.

I'd wait until you can get a hold of them later today. It's probably some ID theft and they are working on it. It's typical for them to freeze all activity for a couple days until they can figure it out (for your protection). I went through this with Wachovia 6 weeks ago. Just wait until you can talk to someone who can get you in the loop and then start thinking about what to do based on what kind of information you find out.

Go back to your local office and sit in the managers office until he tells you something. Do not call 1-800-piss-off and wait on hold for some Indonesian to tell you that he doesn't know anything. The branch manager should be able to call a management level person at the home office that may be able to get some answers.

If that doesn't work, write a letter to your state's Department of Banking and Finance and cc the President of BoA. The state regulators will take a dim view of a bank seizing assets with no explanation. At the very least, the regulators will contact a home office VP who will take some action. I've had to use this tactic several times with a BoA mortgage and it worked every time in a reasonable period of time.

FYI, they have 10 days to give you your money. I would also contact the local OCC and file a complaint.

Go back to your local office and sit in the managers office until he tells you something.
That is stupid. BOA will just have you arrested. If you are feeling charitable, call the corporate office, but you better plan on suing if you want any ressolution.

codename47 said: FYI, they have 10 days to give you your money. I would also contact the local OCC and file a complaint.

Go back to your local office and sit in the managers office until he tells you something.
That is stupid. BOA will just have you arrested. If you are feeling charitable, call the corporate office, but you better plan on suing if you want any ressolution.
Please. Just wait until noon and call the California office. Banks don't steal money and they no doubt have the right to do what they did temporarily, until you speak with them and can demonstrate your allegiance to the United States of America, that you are not a terrorist and that you are who you say you are or have a good excuse for lying about it.

Let us know what happens in 15 minutes.

And, if you want to hire a lawyer, that's fine. He'll tell you to call BoA at noon to find out what happened. So consider that free advice and take it.

Lesson learned: Don't keep all your eggs in one basket.

sloppy1 said: Lesson learned: Don't keep all your eggs in one basket.Nah. BoA is a fine basket to have your eggs in. Its not like this problem won't work itself out right quick. Or my name isn't Ally McBeale.

codename47 said: Sue them. Yes, I am serious. Theft would be a good starting point.Right. Sue before talking to them. That'll go over real well in court as well as waste a lot of time for no purpose.

Check all your snail mails sent by BOA. This happened to me too. They locked my account just because they were not having my wife's SSN number with them. They sent me snail mail which I thought of junk mail. She received the SSN after 3 years of account opening and just one month before account was locked. Not sure how BOA was smart enough to know that my wife got SSN.

sloppy1 said: Lesson learned: Don't keep all your eggs in one basket.
If you have a huge pile of credit cards from every bank you ever heard of, as many of us do, you're pretty much covered. At the worst, you might have to take a cash advance from one card to make the minimum payments on the others, till your bank unfreezes your accounts and gives you a free toaster to say they're sorry about the mistake. The important thing is to have cards from a lot of banks, not just a lot of cards from a few banks. When a bank takes adverse action, they often shut down all your accounts, but some banks won't take adverse action till months after something bad happens, so you don't have to worry about them all acting in concert against you.

I'm guessing you've 'forgotten' to mention a minor detail, like how you opened your accounts without a SS# or how you regularly send money oversees or some other 'innocent' transaction that would cause a sudden influx of $100k to cause concern. Right?

DavidScubadiver said: codename47 said: Sue them. Yes, I am serious. Theft would be a good starting point.Right. Sue before talking to them. That'll go over real well in court as well as waste a lot of time for no purpose.

theficus said:
I called the toll-free support number and they told me I needed to speak with the fraud department


theficus said:
I called the fraud department and was told the following:


theficus said: I called my local branch and asked them to find out what is going on. They looked at my accounts and told me it was "ordered by the California office" and they do not have any power to do anything.

I think he has called enough to warrant court action regardless of whether it will save him time or not.

DavidScubadiver said: codename47 said: Sue them. Yes, I am serious. Theft would be a good starting point.Right. Sue before talking to them. That'll go over real well in court as well as waste a lot of time for no purpose.
Love the sue first option. I'm sure the huge legal department of Bank Of America just allows accounts to be frozen for no reason and open themselves up to lawsuits. For whatever reason BoA did this I'm sure they have their butts covered

I had this problem with Citizens Bank when I opened my account with them. At first when I asked about it they refused to provide any information. I even had someone in the fraud department hang up on me when I pursued it (and I wasn't even rude I just wouldn't give up). After getting to a manager in the department I got them to admit that legally they had to unfreeze my account within 30 days. Two weeks later they unfroze my funds but left the restriction on my ATM card by accident ($20/day max). I didn't notice it was restricted for six months because the ATM machines give cryptic messages like "the machine is currently having problems" and the bank doesn't service the machine. Eventually I got them to unfreeze the ATM card but wasn't compensated for my lost use of the card. At this point they admitted that the reason they locked my account was that I made a deposit at an ATM machine (of a cashier's check from my old bank) within two days of opening the account. Apparently they find that activity suspicious even though no attempt was made to withdraw it. These departments have no concept of customer service. They'll treat you like dirt until they finish their job and then they won't apologize for putting you through hell even when they determine that no fraudulent activity occurred. However, I think they will eventually come through as long as you haven't actually broken any laws. Just give them some time and press them. Find out how long the bank can investigate your account and hold them to it. If after that point they still haven't responded, then you should get a lawyer. Otherwise they're going to do it by the book and the only one who benefits is the lawyer.

Relax and get the correct person on the telephone.

The above poster was correct. A telephone call initiated from your attorney could clear this up in 3 hours.

In ID theft situations it's pretty common for banks to avoid giving information over the telephone. OP, you need to arrange an in-person meeting with someone at BOA who can help...for example, meet with the branch manager and have him call the CA office in your presence.

Jumping right to a lawsuit will only make things more complicated. If you're not getting anywhere with BOA after a few days, talking to a lawyer might be a good option at that point, along with filing a police report.

Wow, that is really bad. I looked at the AOR site and to tell you the truth it does not look legitimate. Couldn't even find them in Better Business Bureau. You supplied a lot of personel info to sign up and that is an easy way of people stealing your ID. I got an email something like this a while back and just deleted it. Dude, you have to research things before you put your info out there. At the bottom of the site it reads:

Efforts have been made to provide accurate information; however, all actions you take as a result of the information here are your responsibility. Do your own research before acting.

I think that says it all.

dealingdede said: Wow, that is really bad. I looked at the AOR site and to tell you the truth it does not look legitimate. Couldn't even find them in Better Business Bureau. You supplied a lot of personel info to sign up and that is an easy way of people stealing your ID. I got an email something like this a while back and just deleted it. Dude, you have to research things before you put your info out there. At the bottom of the site it reads:

Efforts have been made to provide accurate information; however, all actions you take as a result of the information here are your responsibility. Do your own research before acting.

I think that says it all.

Hee hee. Funny

dealingdede said: Wow, that is really bad. I looked at the AOR site and to tell you the truth it does not look legitimate. Couldn't even find them in Better Business Bureau. You supplied a lot of personel info to sign up and that is an easy way of people stealing your ID. I got an email something like this a while back and just deleted it. Dude, you have to research things before you put your info out there. At the bottom of the site it reads:

Efforts have been made to provide accurate information; however, all actions you take as a result of the information here are your responsibility. Do your own research before acting.

I think that says it all.
lol

062703 said:

theficus said: I called my local branch and asked them to find out what is going on. They looked at my accounts and told me it was "ordered by the California office" and they do not have any power to do anything.

I think he has called enough to warrant court action regardless of whether it will save him time or not.
You forgot:

They gave me a number to call, but they are closed until 9:00 am pacific time. Basically, they told him what to do and we've not heard from him since 9 a.m. pacific time. My bet is, problem solved.

DavidScubadiver said: Basically, they told him what to do and we've not heard from him since 9 a.m. pacific time. My bet is, problem solved.Guantanamo Bay blocks FWF.

I spoke to the California office. The representative informed me that my account was closed because of 3 recent outbound transfers:

1.) $4,000 to my Vanguard Roth IRA (my 2007 contribution).
2.) $20,000 to my Banc of America Investments brokerage account (to buy FSLXX, since the NEA rate was dropping).
3.) $2,500 to my Citibank savings account (to conviently pay down my Citibank AOR cards).

She stated that "Bank of America doesn't like customers to move so much money out of their account right after making a big deposit." I had deposited about $100,000 in AOR money at the end of August. I also had regular deposits, such as my biweekly paycheck, and started with a respectable balance (about $10,000). She told me Bank of America would send me a cashier's check within 5 to 10 business days. I tried reasoning with the lady, in a polite and calm manner, but she hung up on me in mid-sentence. I called back and began speaking with another lady, but she told me "we already told you the accounts are closed." She then called me a racial slur and hung up on me.

I don't think my transactions were unusual or warranted action this severe. It's not atypical for me, or many other customers, for that matter, to move around large sums of money, especially within the same company (deposit to brokerage account). I'm even more upset because the final lady I spoke to called me a racial slur (I won't reveal what because I don't want to reveal personal information). I have a strong feeling I'm being targeted because of my name and ethnicity. I don't think I would have had this problem if my name was "Ted Stevens" or something more vanilla sounding. What do you guys think? What is my next course of action?

EDIT: Before anyone asks, yes, I'm a US citizen (natural born) and yes, I provided Bank of America with entirely accurate personal information.

Start a 'Guess The Racial Slur' contest.. $1 per entry..

I'm in for $5 already..

While I can understand their concern with the amount of money being moved around, I think they dealt with it in a very unprofessional manner, if what you're saying in regards to the phone conversations is true.

Aside from waiting, I'm not sure if there's much you can really do to get everything squared away.

Wow. This just gets more and more interesting. Lawyers in the house?

Color me skeptical but something here isn't adding up. I find that phone conversation very hard to believe. If what you said is true I would be talking to a lawyer also, but I don't think we're hearing everything about the conversation.

It seems strange to me that BoA has problem with client moving $20,000 to Banc of America Investments brokerage account.

theficus said: I spoke to the California office. The representative informed me that my account was closed because of 3 recent outbound transfers:

1.) $4,000 to my Vanguard Roth IRA (my 2007 contribution).
2.) $20,000 to my Banc of America Investments brokerage account (to buy FSLXX, since the NEA rate was dropping).
3.) $2,500 to my Citibank savings account (to conviently pay down my Citibank AOR cards).


So, they essentially closed your account for moving $6500 outside of Bank/c of America. That's a load of horse crap. Stick it to them as hard as freaking possible. Man, I would be pissed. Good luck to you.

DMDiller said: While I can understand their concern with the amount of money being moved around, I think they dealt with it in a very unprofessional manner, if what you're saying in regards to the phone conversations is true.

Aside from waiting, I'm not sure if there's much you can really do to get everything squared away.

I called back and spoke to a gentleman about the insult. He was very polite and professional about the entire situation. All he could do, however, was give me an address to voice my concern.

I've dealt with insults so much in my life that it's just like water off my back now. The more important issue is why my accounts were closed and how I had to find out about it, so let's stick to that topic.

I also think suing is probably futile in a situation like this. The deposit account agreement states that Bank of America has the right to close my account at any time and for any reason. I just think it's an overreaction given the circumstances.

Wow. Are they closing your BofA Investments account too? It's odd that a $20k move "in-house" would trigger a red flag that severe.

The fact that slurs were involved is so completely out of line. I'd sue for that, just out of spite.

Yes, they're closing all my accounts -- deposit, brokerage, and credit cards.

theficus said: Yes, they're closing all my accounts -- deposit, brokerage, and credit cards.Did they liquidate your securities position? Did you incur a taxable gain or a loss as a result?

Can you post your pic?

This reminds me... I REALLY need to close my LaSalle accounts before BoA takes over.

theficus said: I also think suing is probably futile in a situation like this. The deposit account agreement states that Bank of America has the right to close my account at any time and for any reason. I just think it's an overreaction given the circumstances.If they treated me and my money like that, they would not deserve my business. If you want to give them a chance, I'd suggest going to a local branch and discussing your issue with them. Often they have options not available to the phone CSRs. They might even be able to resolve your issue.
Quality of service can vary widely between phone support and local support. When I had an issue about a year ago with another bank and found their phone CSRs to be less than satisfactory, I went to a local branch and was able to get my issue resolved quickly and painlessly. Because of the level of service provided by the local branch, I kept my business there.

yup thats the problem with this country everyone wants to sue.. my coffee is cold sue, my coffee is hot sue, wait until you get the correct information so you dont look just a stupid as they do now. and yeah a law suit will be cleared up in less than a month... i guess you never have sued anyone...

theficus said:
I called back and spoke to a gentleman about the insult. He was very polite and professional about the entire situation. All he could do, however, was give me an address to voice my concern.

I've dealt with insults so much in my life that it's just like water off my back now. The more important issue is why my accounts were closed and how I had to find out about it, so let's stick to that topic.


I think I can guess the racial slur..

Skipping 648 Messages...
sethman said: The same exact thing happened to me today, and it was a business + a personal account. To end off things even nicer, they are mailing a cashier's check to me for the remainder that was in the account. The worst thing is, I finally found a buyer for my business and they were going to purchase (wiring me 125,000) in cash on the first of August.

The only explanation I received was that a previous bank reported me to check systems, but I had never written a bad check or any type of check for that matter off the account. It was so sudden. All my accounts were closed just today, and now I have to straighten everything out. I will never bank with them again. This is the second time, and I can't remember why I left last time, but now I have a whole new reason.

I signed up for their stupid alerts, and I didn't receive any warning / notification of any kind that they closed the accounts. I didn't know until I tried to login to online banking, and it gave me an error.


Request a copy of your file from Check Systems. If they have erroneous information, you can correct it.



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