ED Magedson – Founder
Bank of America BOA HELD MY FUNDS FOR TWO ADDITIONAL WEEKS AND CLOSED ACCOUNT FOR NO REASON ATLANTA Nationwide
I deposited a 2 checks into my business account of nearly $70k that could be verified by all parties involved including the maker, issuer and my customer. Bank of america held my funds, then closed my account without giving me a valid reason. I was only told that they could closed any account without given a reason per the deposit agreement given to me at the time of opening the account.
I was then asked to send a notaried statement from all parties involved in the transaction. My customers went into 2 diffrent bank of america Branches to proved the transaction. Only to be told it still had to be reviewed.
I called Risk management several times a day and was told my funding would be available @9am the next morning only get a call back from a manager saying the date quoted was an error and bank of america didnt have a release date of my fundings.
Days later and nothing. No realease date and no can tell me anything. They continue to hold $70k of my funds.
This report was posted on Ripoff Report on 06/20/2014 11:27 AM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-of-America/nationwide/Bank-of-America-BOA-HELD-MY-FUNDS-FOR-TWO-ADDITIONAL-WEEKS-AND-CLOSED-ACCOUNT-FOR-NO-REA-1156281. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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