Bank of America closed all my accounts. What to do now? *UPDATED 03/01/08*

This thread looks very familiar....didnt somebody post a similar instance of plowing 80-100k in bt checks through BOA and ending the same way...

theficus said: SUCKISSTAPLES is on the right track. . I have seen this time and again, its nothing unusual. OP you do not understand how to resolve the situation. Now - you can keep wasting time posting on different complaint websites, talking to CSRs and ranting. Or you can do something to quickly fix the situation. BofA has done nothign wrong, and until you start taking appropriate action, you wont get this resolved quickly.

SUCKISSTAPLES said: duncan36 said: Could be they have certain triggers to try and stop money laundering and you inadvertently triggered one..not only that, if OP has an Arabic/Indian sounding name, he is at much higher risk of suspicion.

OP you need to stop calling BofA. Go sit down with the local branch manager. have him start making the calls.

You dont want to do that, FEDEX a letter to the CEO's office. By thursday this will be resolved.

All the other suggestions in this thread will take longer and/or require more effortIt won't be "resolved" because they already closed his accounts and the "checks will be in the mail" by then. Indeed, it seems as though the matter is already resolved. What you are proposing is what, exactly...? If his transactions have all been reversed and they've given him his money back, he needs to deal with the creditors he's now stiffed. And THEN write the CEO or whatever, demanding he be made whole once the damages are calculated. That's the only thing to do as it would be idiotic to bank with them any longer after this mess.

Yep, the part that sounds the worst is that all of his transactions were reversed. That'll screw up credit and cause all kinds of late fees and overdrafts that BOA will be more than happy to deduct from the amount paid out in the checks they send out.

SUCKISSTAPLES said: OP is listening to BS from CSRs in fraud depts. They have no tact, and are one track mindless drones.

I doubt anything has been reversed as of yet, especially deposits that were made 2-3 months ago. Now, Is OP going to get a Fedex in todays mail or sit down with the local branch manager during west coast and east coast banking hours tomorrow? Or is going to make more phone calls?

theficus said: To make matters worse, all my transactions for the month of November have been returned, including all my credit card payments. I'm also being charged NSF fees and returned payment fees for each of these transactions since each of my accounts appear to be in the negative over $800,000. What a nightmare.

SUCKISSTAPLES said: OP is listening to BS from CSRs in fraud depts. They have no tact, and are one track mindless drones.

I doubt anything has been reversed as of yet, especially deposits that were made 2-3 months ago. Now, Is OP going to get a Fedex in todays mail or sit down with the local branch manager during west coast and east coast banking hours tomorrow? Or is going to make more phone calls?
I made an appointment with my local branch to discuss the situation. However, I've already resigned myself to finding a new bank and brokerage. I suspect DavidScubadiver is right when he says not much can be done at this point.

Even though I haven't responded to each individual post, I'm taking in everyone's advice. SIS is right, though, about the tactless CSRs in the fraud/risk department. I cannot believe how unprofessional and rude they have been to me.

Also, I want to publicize my situation because I strongly believe I was targeted because of my name. I still don't think this would have happened to me if I had an Anglo-sounding name. I'm writing up an article to submit to Consumerist and other advocacy websites. I'll include some screenshots or some other evidence for those who don't believe me.

SUCKISSTAPLES said: Op did not mention any payments being returned in the OP, and I highly doubt all his payments posted today and now show as returned.

I think what OP meant is that hes been >told< by the fraud dept that all payments will come back returned. And he should know that the -800,000 has no relation to his actual account standing, its probably just what their computer system does to frozen accts.

Fraud dept CSR statements about what will happen, and what the online system shows as your balance, mean nothing.

But who knows what the OP is really saying.
Yes, I was told a debit of $888,888.88 is a fraud notation. I can see the returned items when I log into online banking. I can still log in even though all my accounts have been closed.

OP,

You had the answer within 30 minutes of your first post.... c/o CN47 (of course)...

Contact OCC (and I don't mean Orange County Choppers!!!):

OCC link

AT THE SAME TIME, contact highest level you possibly can at BofA..... and file a complaint against the FRAUD department..

Also, AS PREVIOUSLY suggested, you could contact the local news (I just love going this route.... and offer it as advice whenever I can)... the NEWS can fight the fight for you, it costs you nothing.... and it comes with BUILT-IN bad publicity for the idiots that offend FWF'ers!!!

*I hope this dude is NOT a troll....*

theficus said: SIS is right, though, about the tactless CSRs in the fraud/risk department. I cannot believe how unprofessional and rude they have been to me.

Also, I want to publicize my situation because I strongly believe I was targeted because of my name. I still don't think this would have happened to me if I had an Anglo-sounding name. I'm writing up an article to submit to Consumerist and other advocacy websites. I'll include some screenshots or some other evidence for those who don't believe me.

fraud depts arent trained to be tactful or nice to the consumer. Thats why youve received the stupid racist remarks. The original freeze likely had nothing to do with race. Fraud mitigators are one track - minimize bank losses. They could care less about any explanations.

Being friendly is a different set of CSR training

There are a million people with BofA complaints ranting on the net, whats going to make yours any different? nothing. No one will care. If you are serious about this, you either get down to the bank , file formal complaints, or hire an attorney (and if you are going legal, you certainly dont post stuff online)

I had a very similar experience with AMEX. I paid $4000 toward my bill, and downloaded my transactions to see a $39.00 insufficient fee charge against the $4000 payment. I investigated and saw I scheduled the payment from the wrong checking account (sigh, I added my account and checked to make it default but that did not stick). In any case, I called to explain and they waived the fee, but they still show me as having made the payment, making it impossible to schedule a payment from the AMEX website. I was on the phone for ten minutes fighting with the CSR who was telling me my account was paid in full and my telling him I bounced an ACH, they recognized that by charging me $39, but they are still showing my payment as being received.

Finally, they told me I would have to just mail a second payment, so I scheduled another payment, received today. Now I have a big credit balance though really, it should be zero, because they still haven't deducted my prior payment.

Okay, so its nothing like what happened to OP, but I smell the potential for a big headache. If they don't fix it by statement date, I'll have to write them a letter explaining that they don't owe me $4000 and hpe they can figure out how to update their systems appropriately.

I'm about to make a $74k transaction from my BofA account with AOR money.

I have been a customer since I was in short pants but I should probably call them and clear it with them first I guess.

ArbolLoco said: I'm about to make a $74k transaction from my BofA account with AOR money.

I have been a customer since I was in short pants but I should probably call them and clear it with them first I guess.
Depends, Whats your name?

I'm firing off a complaint to Bank of America and the OCC first thing tomorrow. Should I include any other agencies or organizations?

I don't know about a lawsuit. It's easy to say I'll file one but it takes more effort to actually follow through. I don't know if it's worthwhile considering the likely outcome (little to nothing). I'll see how my meeting with the local branch and complaint to the OCC go first.

And I haven't mentioned my name or the slur because it would strip me of the relative anonymity we enjoy here and it would define any of my future postings. I'm sure you can read between the lines and arrive at your own conclusion.

EricGo07 said: Joking aside, just hit the bank with a harassment suit. At a minimum it will make them more receptive to indemnifying you for fees you incur. You know, by way of apology.did that guy who deposited the fake check and got arrested at bofA ever get his fees paid by BofA for clearing his name? I dont think so. And he made it to major media.

theficus said: I'm firing off a complaint to Bank of America and the OCC first thing tomorrow. Should I include any other agencies or organizations?
contact an advocacy group that represents your ethnicity/religion/race (e.g. if you're Muslim, the Council on American-Islamic Relations). They might have more advice, and they might be interested in getting involved and publicly shaming BofA. Regardless of BofA's "right" to close your acct for any reason, I presume your ethnicity/religion/race is not a permissible reason and would be considered discrimination.

And I haven't mentioned my name or the slur because it would strip me of the relative anonymity we enjoy here and it would define any of my future postings.
Even if you're Togolese, I can't imagine revealing that will strip you of your anonymity. How could your ethnicity/religion/race possibly define any of your future posts?

Newsflash - just bc someone utters a racist statement doesnt mean aything.

Unless the fraud investigator who made a racial statement during dicussions with OP was the same one who made the account closure decisions, this has nothing to do with why this action was taken.

Im sure a faceless computer program flagged the accounts, the decision was made to close them , and only when arguing with the CSR did they make their racial comment. That person likely wasnt the person making account decisions, just the one listening to OPs rant

SUCKISSTAPLES said: Unless the fraud investigator who made a racial statement during dicussions with OP was the same one who made the account closure decisions, this has nothing to do with why this action was taken.
If the OP's recent transactions were as ordinary as he described, and a fraud investigator made a racist statement, it's not hard to put 2 and 2 together. However, that's a big "if," and the OP has not been particularly forthright here.

Im sure a faceless computer program flagged the accounts, the decision was made to close them , and only when arguing with the CSR did they make their racial comment.
I wouldn't be terribly surprised if our govt was instructing the largest retail bank in the US to flag accounts with certain names linked to terrorists [i.e. some common Muslim-sounding names]. who knows.

SUCKISSTAPLES said: Newsflash - just bc someone utters a racist statement doesnt mean aything.

Unless the fraud investigator who made a racial statement during dicussions with OP was the same one who made the account closure decisions, this has nothing to do with why this action was taken.

Im sure a faceless computer program flagged the accounts, the decision was made to close them , and only when arguing with the CSR did they make their racial comment. That person likely wasnt the person making account decisions, just the one listening to OPs rant
I agree with you that a computer probably flagged my account. If that's all it took, however, then most of us here in FWF would be facing the same problem. My transactions are on the low-end for an AOR and not anything I haven't done (and still do) at other banks. A more likely scenario is a computer flagged my account, a person manually reviewed my account, and he or she decided to close it based on their personal prejudices. The CSR who insulted me probably deals with irate people all day long and just blew up on me. It still doesn't make her right, though.

scott1961 said: Not sure why you're worried about that, I think knowing a bit more about posters helps in understanding their posts. I can still be anonymous but revealed that I am a Jewish right wing conservative nut living in MA, Heck I probably just blew my anonymity since I think I am only one in this State
OK, I'll use this username for this thread only and create a new name for my future postings.

I wouldn't be terribly surprised if our govt was instructing the largest retail bank in the US to flag accounts with certain names linked to terrorists [i.e. some common Muslim-sounding names]. who knows.
I'm Muslim and I was born in the Middle East. One of my parents is white and I grew up speaking English, so nobody can tell my race or religion unless they know my name. The CSR pretty much called me a terrorist.

I hope everyone is satisfied now.

SUCKISSTAPLES said:

Its perfectly OK to have a list of names or surnames to be suspicious of. If my name is Apporama Bin Laden, and you see hundreds of thousands of $$ coming into my account, I should know I will be facing increased scrutiny

Apporama Bin Laden lol Now that would be quite the threat. Financially and terroristically.