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

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.

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.

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.

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.

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.

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.

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

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

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...