• Report: #1158881

Complaint Review: Merrill Lynch Merill Edge Bank of America

  • Submitted: Tue, July 01, 2014
  • Updated: Tue, July 01, 2014

  • Reported By: Private — Beverly Hills California
Merrill Lynch Merill Edge Bank of America
Nationwide USA

Merrill Lynch Merill Edge Bank of America Extreme Level of Bureaucracy, Holds, Problems & Bad Customer Service. Nationwide

*Author of original report: -$400 Million Dollars

*Author of original report: Letter to Bank of America.

*Author of original report: Account closed again!

*Author of original report: Issues with Merill Lynch & Bank of America Resolved

*Author of original report: Each Account Was Negative $100 Million Dollars

*Author of original report: Closed Accounts And Issued Wrong Check Amount!

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Since opening Merrill Lynch accounts I've not been satifisfied with the service. Furthermore, I've had holds placed on all four of my accounts and even options trading level 2 denied and I have not been given a reason clear reason why other than a nosey supervisor wanting to know why I need 4 accounts?

The customer service is garbage. There is no use in calling them. They don't resolve your problem either and the customer service reps will tell you that they will call you back but they never do and never did. 

The supervisors who deny your options trading and put holds on your accounts are also never there. 

I have 4 brokerage accounts with Charles Schwab in good standing. They never placed holds on my accounts. Asked me why I need four accounts nor did they ever deny me options trading. I've been approved for up to Level 3 options trading. 

Sharebuilder has approved me for Level 2 options trading. TdAmeritrade has approved me for all options trading.

TradeKing also great.

But Merill Lynch? Even their automated phone bot sounds annoying, condscending and obnoxious.

I've had no holds, no options trading denials nor ANY customer service issues with any of my other brokerages except for Merill Lynch. 

All my accounts are in good standing as well, no holds EVER and all accounts are approved for options trading.

I remember hearing from many traders how horrible Merill Lynch is and their fee structure is always designed to "get you" and never clear until recently I noticed they were clearly disclosing their fees and thought they maybe have perhaps improved. 

Guess not. My guess is that because of their horrible customer service, hidden fees and poor reputation they are recently attempting to gain a bunch of accounts because of a loss of market share and their competitors beating them to the punch. 

My issue is likely to go unresolved with them. Probably and likely will close all my accounts with them. Let their competitors eat them alive.

You can thank your nosey bureaucratic superviors and horrible customer service.

bu·reau·crat·ic
ˌbyo͝orəˈkratik/
adjective
 
  1. relating to the business of running an organization, or government.
    "well-established bureaucratic procedures"
    • overly concerned with procedure at the expense of efficiency or common sense.
      "the plan is overly bureaucratic and complex"

This report was posted on Ripoff Report on 07/01/2014 03:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Merrill-Lynch-Merill-Edge-Bank-of-America/nationwide/Merrill-Lynch-Merill-Edge-Bank-of-America-Extreme-Level-of-Bureaucracy-Holds-Problems--1158881. 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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#1 Author of original report

-$400 Million Dollars

AUTHOR: Private - ()

Dear Bank of America Shareholders, Board of Directors, Chairman and High-Level Executives,

I had four brokerage cash management accounts with Merrill Edge from Bank of America. Within one week, all four accounts were negative $100 million each and frozen.

 A "East Coast Supervisor" wanted to know why I needed 4 accounts as explained to me by a customer service phone rep. I explained SIPC protection is only up to $500K each and I was doing options trading in 4 different industries and wanted to make it easier for myself.

If that wasn't an acceptable reason, I told them they could close 3 accounts and keep 1 open. They supervisor who needed to respond to me who froze them never did.. In the end, all 4 accounts were closed. They said "As a business decision, Bank of America decided not to do business with you. You are on a permanent ban list for LIFE."

I clearly was ready to compromise but the supervisor was not and I felt as if he was out there to get me like he had a personal vendetta against me.

They very small balance I had deposited ($6 dollars) was not given in full to me and I had to call to adjust the closeout amount so I don't get less than I deposited.

Keep in mind, I had done nothing wrong with the accounts like fraud, depositing large amounts of untraceable funds, writing bad checks or anything of that nature. I had a checking account with Bank of America for 5 years in good standing and a business account for 2 years in good standing. I paid a lot of fees on various things over the years. I don't have bad credit nor am I on ChexSystems and never have been. I have never owed a bank money and walked away from my obligations. The accounts with Bank of America were closed in good standing and no money was owed to Bank of America. All fees due were paid and the accounts were closed due to switching to another bank with more convenient branches near my new address after moving.

I pointed this out to a female supervisor by the last name of "Gonzalez" and appealed the ban and applied for another CMA account. She said they would let me know. The account was opened and I assumed they decided to take me off their " lifetime ban list". That account was closed within less than 12 hours of it's opening.

I called regarding this. Same answer and not only that... They hung up the phone on me not once but several times. One time even without letting me know they were going to hang up. The last "supervisor" I spoke to was by first name "Jen". She was very rude.

I asked why they account was approved if I was still banned. The phone rep said I quote  "It MUST have slipped through..." I don't buy it. Moreover, the account was banned after I submitted an option application which was denied for a basic trading level 2 which I am approved for more with other brokerages such TD Ameritrade and Charles Schwab.

I filed a RipOffReport complaint regarding this entire matter. Report # : 1158881
 
www.ripoffreport.com

One of your phone reps even laughed at my RipOffReport complaints over the phone and said "Go ahead" as if the reputation of the bank and brokerage firm he works for is not important to him. Of course not. They are all there to put in the minimum they can get away with and than collect their paycheck bi-weekly on Fridays.

Your customer service employees have no respect, courtesy, manners and are very unprofessional. Who freezes someone's accounts for no reason and than lacks the courage to speak to them about it like a coward? Bank of America has a history of freezing accounts for many other customers without any sensible reason.

Some of your account holds are reasonable though and required.

Such as... Bank of America freezing accounts due to funds to from the Firearms industry. I support the freezing of accounts due to traces from the Firearms industry and applaud Bank of America's vigilance on monitoring and scrutinizing activity on all accounts.

In fact, I believe the Patriot Act needs to be updated to prohibit the firearms industry from utilizing the US banking system all together and the Federal Reserve Central Bank along with Congress should pass such bills and only allow official government agencies from engaging in the firearms industry or receiving funds from the firearms industry along with using the banking system for such purposes.

More and greater control gun is needed including gun control within banking activities. Both the purchase of firearms by customers and funds from firearms profits deposited into banking accounts.

Iranians have filed a lawsuit against Bank of America in the past related to account freezing.

While I understand they feel targeted, Bank of America has no choice in the matter due to O.F.A.C. sanctions involving Iran from the US Banking System and I believe some of they customers had also visited Iran along with being Iranian Nationals.

However, I'm a Pakistani-American and a non-dual US Citizen born in New York. I'm not a Muslim and am within danger to travel to Pakistan or Islamic countries due to renouncing my Islamic Faith and within the process of converting to Judaism. It has been a decade since I have been to Pakistan and I am not safe to travel to that country or Islamic nations such as Iran as I am a target for public execution due to renouncing the Islamic faith.  The Islamic religion demands it's followers to kill me for leaving the religion.

I'm not saying that all Muslims are terrorists. They are not but the fact is that the majority of major terrorism within the world is caused by Islamic Extremist Radical Jihadists and by countries such as Iran and Pakistan which harbor and pander to terrorists along with it's own government encouraging it and engaging in international hostility against Israel.

Obviously, the Council of Foreign Relations is doing the best work they can to resolve these international affairs within the world and promote world peace.

I feel that Bank of America/Merrill Lynch has frozen my accounts due to me not being white and having a ethnic-name. I consider this illegal racial discrimination that has nothing to with the profiling required due to government sanctions that must be followed by the bank or due to the Patriot Act which would put Bank of America/Merrill Lynch at risk with very large fines and the loss of it's banking charter with the Federal Reserve Central Bank. I'm not a dual-citizen and do not have a active visa with other countries at all; much less countries with US hostile governments such as Iran or Pakistan. I have never deposited large amounts of funds from an untraceable sources such cash, funds from questionable means and nor have I ever committed any sort of fraud with a bank or a brokerage firm or ever had a bad working relationship.

Aside from the reason of racial discrimination, I believe the final reason for the freezing of my accounts and being banned me for life is because one of your customer service supervisors in likely the trading department has banned me unfairly due to their personal reasons of not liking me and therefore it was NOT only made out of a "business decision from Bank of America to not do business with me at this time."

Rather it was made out of a supervisors personal feelings of dislike towards, possibly racist reasons and having their power-trip of making themselves feel good by freezing my accounts and than banning me for life from doing business with Bank of America.

Let me remind Bank of America/Merrill Lynch and/or their egotistical supervisors, they will NEVER succeed in banning me forever from doing business with them. They will always do business with me even if it is indirectly because FMR LLC, Vanguard Group INC, State Street Corp, Barlcays Global Investors UK Holding, J.P. Morgan Chase & Co, Bank of New York Mellon Corp, CitiGroup and Dodge & Cox have large institutional holdings in Bank of America and therefore have some significant ownership in Bank of America.

I do business with them and therefore I do business with Bank of America/Merrill Lynch. Even it is indirectly, it is still business done in reality and within the grand scheme of things.

Your supervisor who has banned my accounts has wasted so much postage and shipping costs by making worthless four checkbooks, four Merrill Edge debit cards and finally the last debit card and last checkbook from the account which was approved and then banned within 12 hours from probably the same overzealous supervisor which I also received but is now worthless and postage money wasted of Bank of America and it's institutional shareholders who I do business with them.

What a waste. My personal time was also wasted a lot by setting up the accounts, applications, forms and waiting for the paperwork in the mail. I have work to do with deadlines as well during the day in my occupation and routine

How about some accountability from that power-tripping and ego-maniac supervisor? Charles Schwab always believe in accountability, do you?

I asked to appeal the decision but I don't think it was ever appealed and if it was I think the appeal went to a bias individual(s) within your organization anyway who had already made up their mind. Obviously, if an account is approved and once I send in a trading application and it is denied for a level I'm approved everywhere else and they account is closed along with the online access... It didn't "slip through". There is someone with a personal vendetta of their own after the client involving racism and personal dislike. Not to mention that my trading application was first approved once and than quickly declined. Not very professional.

I checked the latest records of my ChexSystem report which I received in the mail today. No negative reports of any kind. I checked the latest records of my credit report. No negative reports of any kind. I noticed an inquiry of a hard pull from Bank of America. So Bank of America is defiantly aware that I'm not in debt, have negative reports or have walked away from any financial obligations. I'm not subject to back withholding from the IRS either.

This gives me more than enough evidence to conclude the real reasons why I'm having this issue is all because of the reasons I've outlined and reasons which are subject to discrimination and unprofessional conduct by your employees.

You are free to review all phone recordings with my correspondence with your customer service reps.

Moreover, I ask you specifically review exactly who made all the decisions related to my account holds, options trading denials, lifetime customer ban under what grounds and why along with who specifically reviewed the appeal and why was the CMA account approved the Monday after I spoke to the supervisor "Gonzalez" on Friday regarding that application and very questionably was closed along with online access after submitting an options trading application which was denied.

Moreover, If I'm permanently banned for life with doing business with Bank of America why do I still receive promotional emails from Merrill Lynch in regards to the accounts I had open?

I request an appeal to the lifetime ban due to no grounds of merit, reason or justification. Furthermore, a lifetime ban from doing business for a public company having large shareholder ownership from institutional holders I do business with is not possible in reality. Maybe you can ban me from doing direct business but in reality that really doesn't change anything and is very unjustified especially considering no fraud was committed on they accounts or money was owed to Bank of America or Merrill Lynch by me.

It also opens the discussion on who makes these decisions of lifetime bans and under what grounds. A overzealous, bias, egotistical and power-hungry customer service supervisor on a power-trip? Who made this decision? Why? What basis? What evidence? What justification? Answer: No basis, no evidence and no justification except for their own personal decision based on no reasoning except because they just feel like it and have no real basis on why. They deserve to be terminated by Bank of America and Merrill Lynch.

I was very hesitantly allowed to talk to any supervisors by your customer service reps and was only able to after repeated calls. Apparently, your supervisors are also cowards when it comes to resolving issues. I asked for different departments, escalating the issue or speaking to people higher up. All to no avail.

Bank of America / Merrill Lynch still has a long way to go in customer service and is still not there yet.

Your stock brokers failed to resolve my issue as well. I even had the courtesy to add a update to the RipOffReport when my last CMA account was approved but that account was quickly closed within 12 hours and likewise the RipOffReport was updated to reflect just that.

This is my final and last attempt to resolve this issue with Bank of America/Merrill Lynch. After this, I don't ever see myself becoming a customer again or doing business with Bank of America/Merrill Lynch directly. Just indirectly through your institutional shareholders.

The lifetime customer ban has no power really in practice and is really a terrible business practice in terms of the customer service experience and relationship unless the customer has committed fraud or has owed money which has not been paid. None of which I have done. If I did, I would be banned from the majority of all banks and brokerages due to a negative ChexSystem and a bad credit rating. Even than a negative chexsystem and credit report is not "lifetime".

Otherwise for your customer service phone reps and supervisors to ban me for life because of their personal affront against me and than rephrase it as "Bank of America has decided not to do business with you at this time and you are banned for life." is really quite comical and used as a tool for their power-trips. They are not Bank of America. They are just employees on a power-trip who have decided to alienate me.

I'm still doing business with Bank of America and still will until Bank of America's institutional shareholders decide not to deal with me anymore. In fact, I can likely do direct business with Bank of America here: Bank of America Store 
 
www.bankofamericastore.com

I can buy pens, apparel, office supplies and other items direct from Bank of America.

Have your Merrill Lynch supervisors made sure to prevent any order from being processed by me from ordering anything at the Bank of America Store? I bet not.

So how's that to make me feel powerful on a power-trip like your condescending power-hungry rude supervisors? Tell your supervisors they are not the owners of the corporation and they can be terminated by acting like they do. The shareholders are the owners and they will decide whether or not to do business with me. So far, I'm still doing business with them and therefore doing business with Bank of America.

Have your supervisors also tried to prevent me from buying Bank of America stock so I can't become a shareholder?

After all I'm banned for LIFE for doing business with Bank of America? Right? I don't think so.

Regards,
Anonymous,"I Am One Non-White Customer Banned For Life At a Time."

 "ONE NON-WHITE CUSTOMER BANNED FOR LIFE AT A TIME!" - The Bank of America Corporation Philosophy

PS. I think I've proven beyond any shadow of a reasonable doubt why such a policy of "Banned for Life" is not something which can be practiced at all and it's practice is not a business decision but rather a customer alienation decision. Unless the customer has committed fraud which I have not.

PS. Black brokers sue Merrill Lynch for $160 Million: BofA's Merrill to settle racial bias suit for $160 million
 
PS. Bank of America Fined $2.2 Million in Racial Discrimination: BofA fined $2.2M in racial discrimination case

PS. Bank of America Sued for Sexism: Bank of America to Pay $39 Million in Gender Bias Case
 
PS. You might as well change the name to "Bank of White Male Only America Corporation" instead of "Bank of America Corporation". Racist to non-whites and sexist against women!

PS. I'm finding an attorney very soon unless Bank of America removes the lifetime ban within 14 business days from this email. Enough time to decide and research the problem fully. You made the decision not to do business with me based upon obvious and clear racism. I'm serious and willing to go to court to take care of this matter. I've been persistent with the phone calls to your customer phone line, complaints filed online and now I'll start with the law for remedy.

PS. I'm not fooled by CEO Brian T. Moynihan's statements of him promoting diversity. Those are just words, not actions. Bank of America so far has proved themselves to be racists and prejudice. I want action proving you are not or I take legal action. I'm not kidding. By the time I'm done suing, you will wish those racist supervisors were terminated long ago they ever dealt with me. Words are cheap, I'm not interested in words. I want action or I give legal action for racism. Action is expensive including racist actions by Bank of America. But there is also smart action like not being racist and removing lifetime bans which have no basis or merit. Whether you terminate racist employees of yours is your decision, but the lifetime ban is clearly based upon racism and I will sue for it unless it is removed.

PS. I've had a African-American Sociology Professor long ago in college sue Bank of America and win for refusing to give him a mortgage for no reason despite excellent credit and income. You are a bunch of racists and sexist too as shown in the $39 Million Gender Bias Lawsuit.

Ps. BOA = Bunch of All White Males

PS. Do you hate gays as well? Wouldn't be surprised with lawsuits won related to discrimination of gays if I "Googled" that too.

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#2 Author of original report

Letter to Bank of America.

AUTHOR: Anonymous - ()

"I Am One Non-White Customer Banned For Life At a Time.", Private, Bank of America Fanboy

 

"ONE NON-WHITE CUSTOMER BANNED FOR LIFE AT A TIME!" - The Bank of America Corporation Philosophy

 

"Bank of White Male Only America Corporation" - The Bank of America Corporation Philosophy

 

Racist to non-whites and sexist against women!

 

Note: I'm finding an attorney very soon unless Bank of America removes the lifetime ban within 14 business days from today. You made the decision not to do business with me based upon obvious and clear racism. I'm serious and willing to go to court to take care of this matter. I've been persistent with the phone calls to your customer phone line, complaints filed online and now I'll begin starting with the law for remedy.

 

My information:

 

Private

 

Account numbers:

 

Private

 

ML Login ID: Private

 

Bank of America Login ID: Private

 

Dear Bank of America Shareholders, Board of Directors, Chairman and High-Level Executives, 

 

I had four brokerage cash management accounts with Merrill Edge from Bank of America. Within one week, all four accounts were negative $100 million each and frozen.

 

 A "East Coast Supervisor" wanted to know why I needed 4 accounts as explained to me by a customer service phone rep. I explained SIPC protection is only up to $500K each and I was doing options trading in 4 different industries and wanted to make it easier for myself.

 

If that wasn't an acceptable reason, I told them they could close 3 accounts and keep 1 open. They supervisor who needed to respond to me who froze them never did.. In the end, all 4 accounts were closed. They said "As a business decision, Bank of America decided not to do business with you. You are on a permanent ban list for LIFE."

 

I clearly was ready to compromise but the supervisor was not and I felt as if he was out there to get me like he had a personal vendetta against me.

 

They very small balance I had deposited ($6 dollars) was not given in full to me and I had to call to adjust the closeout amount so I don't get less than I deposited.

 

Keep in mind, I had done nothing wrong with the accounts like fraud, depositing large amounts of untraceable funds, writing bad checks or anything of that nature. I had a checking account with Bank of America for 5 years in good standing and a business account for 2 years in good standing. I paid a lot of fees on various things over the years. I don't have bad credit nor am I on ChexSystems and never have been. I have never owed a bank money and walked away from my obligations. The accounts with Bank of America were closed in good standing and no money was owed to Bank of America. All fees due were paid and the accounts were closed due to switching to another bank with more convenient branches near my new address after moving. 

 

I pointed this out to a female supervisor by the last name of "Gonzalez" and appealed the ban and applied for another CMA account. She said they would let me know. The account was opened and I assumed they decided to take me off their " lifetime ban list". That account was closed within less than 12 hours of it's opening.

 

 I called regarding this. Same answer and not only that... They hung up the phone on me not once but several times. One time even without letting me know they were going to hang up. The last "supervisor" I spoke to was by first name "Jen". She was very rude.

 

I asked why they account was approved if I was still banned. The phone rep said I quote  "It MUST have slipped through..." I don't buy it. Moreover, the account was banned after I submitted an option application which was denied for a basic trading level 2 which I am approved for more with other brokerages such TD Ameritrade and Charles Schwab.

 

I filed a RipOffReport complaint regarding this entire matter. Report # : 1158881

 



































 


 


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One of your phone reps even laughed at my RipOffReport complaints over the phone and said "Go ahead" as if the reputation of the bank and brokerage firm he works for is not important to him. Of course not. They are all there to put in the minimum they can get away with and than collect their paycheck bi-weekly on Fridays. 

 

Your customer service employees have no respect, courtesy, manners and are very unprofessional. Who freezes someone's accounts for no reason and than lacks the courage to speak to them about it like a coward? Bank of America has a history of freezing accounts for many other customers without any sensible reason.

 

Some of your account holds are reasonable though and required.

 

Such as... Bank of America freezing accounts due to funds to from the Firearms industry. I support the freezing of accounts due to traces from the Firearms industry and applaud Bank of America's vigilance on monitoring and scrutinizing activity on all accounts.

 

In fact, I believe the Patriot Act needs to be updated to prohibit the firearms industry from utilizing the US banking system all together and the Federal Reserve Central Bank along with Congress should pass such bills and only allow official government agencies from engaging in the firearms industry or receiving funds from the firearms industry along with using the banking system for such purposes.


 

More and greater control gun is needed including gun control within banking activities. Both the purchase of firearms by customers and funds from firearms profits deposited into banking accounts.

 

 

Iranians have filed a lawsuit against Bank of America in the past related to account freezing.

 

While I understand they feel targeted, Bank of America has no choice in the matter due to O.F.A.C. sanctions involving Iran from the US Banking System and I believe some of they customers had also visited Iran along with being Iranian Nationals.

 

However, I'm a Pakistani-American and a non-dual US Citizen born in New York. I'm not a Muslim and am within danger to travel to Pakistan or Islamic countries due to renouncing my Islamic Faith and within the process of converting to Judaism. It has been a decade since I have been to Pakistan and I am not safe to travel to that country or Islamic nations such as Iran as I am a target for public execution due to renouncing the Islamic faith.  The Islamic religion demands it's followers to kill me for leaving the religion.

 

I'm not saying that all Muslims are terrorists. They are not but the fact is that the majority of major terrorism within the world is caused by Islamic Extremist Radical Jihadists and by countries such as Iran and Pakistan which harbor and pander to terrorists along with it's own government encouraging it and engaging in international hostility against Israel.

 

Obviously, the Council of Foreign Relations is doing the best work they can to resolve these international affairs within the world and promote world peace.

 

I feel that Bank of America/Merrill Lynch has frozen my accounts due to me not being white and having a ethnic-name. I consider this illegal racial discrimination that has nothing to with the profiling required due to government sanctions that must be followed by the bank or due to the Patriot Act which would put Bank of America/Merrill Lynch at risk with very large fines and the loss of it's banking charter with the Federal Reserve Central Bank. I'm not a dual-citizen and do not have a active visa with other countries at all; much less countries with US hostile governments such as Iran or Pakistan. I have never deposited large amounts of funds from an untraceable sources such cash, funds from questionable means and nor have I ever committed any sort of fraud with a bank or a brokerage firm or ever had a bad working relationship.

 

Aside from the reason of racial discrimination, I believe the final reason for the freezing of my accounts and being banned me for life is because one of your customer service supervisors in likely the trading department has banned me unfairly due to their personal reasons of not liking me and therefore it was NOT only made out of a "business decision from Bank of America to not do business with me at this time."

 

Rather it was made out of a supervisors personal feelings of dislike towards, possibly racist reasons and having their power-trip of making themselves feel good by freezing my accounts and than banning me for life from doing business with Bank of America.

 

Let me remind Bank of America/Merrill Lynch and/or their egotistical supervisors, they will NEVER succeed in banning me forever from doing business with them. They will always do business with me even if it is indirectly because FMR LLC, Vanguard Group INC, State Street Corp, Barlcays Global Investors UK Holding, J.P. Morgan Chase & Co, Bank of New York Mellon Corp, CitiGroup and Dodge & Cox have large institutional holdings in Bank of America and therefore have some significant ownership in Bank of America.


 

I do business with them and therefore I do business with Bank of America/Merrill Lynch. Even it is indirectly, it is still business done in reality and within the grand scheme of things.

 

Your supervisor who has banned my accounts has wasted so much postage and shipping costs by making worthless four checkbooks, four Merrill Edge debit cards and finally the last debit card and last checkbook from the account which was approved and then banned within 12 hours from probably the same overzealous supervisor which I also received but is now worthless and postage money wasted of Bank of America and it's institutional shareholders who I do business with them.

 

What a waste. My personal time was also wasted a lot by setting up the accounts, applications, forms and waiting for the paperwork in the mail. I have work to do with deadlines as well during the day in my occupation and routine

 

How about some accountability from that power-tripping and ego-maniac supervisor? Charles Schwab always believe in accountability, do you?

 

I asked to appeal the decision but I don't think it was ever appealed and if it was I think the appeal went to a bias individual(s) within your organization anyway who had already made up their mind. Obviously, if an account is approved and once I send in a trading application and it is denied for a level I'm approved everywhere else and they account is closed along with the online access... It didn't "slip through". There is someone with a personal vendetta of their own after the client involving racism and personal dislike. Not to mention that my trading application was first approved once and than quickly declined. Not very professional.

 

I checked the latest records of my ChexSystem report which I received in the mail today. No negative reports of any kind. I checked the latest records of my credit report. No negative reports of any kind. I noticed an inquiry of a hard pull from Bank of America. So Bank of America is defiantly aware that I'm not in debt, have negative reports or have walked away from any financial obligations. I'm not subject to back withholding from the IRS either.

 

This gives me more than enough evidence to conclude the real reasons why I'm having this issue is all because of the reasons I've outlined and reasons which are subject to discrimination and unprofessional conduct by your employees.

 

You are free to review all phone recordings with my correspondence with your customer service reps under my phone numbers: private.

 

Moreover, I ask you specifically review exactly who made all the decisions related to my account holds, options trading denials, lifetime customer ban under what grounds and why along with who specifically reviewed the appeal and why was the CMA account approved the Monday after I spoke to the supervisor "Gonzalez" on Friday regarding that application and very questionably was closed along with online access after submitting an options trading application which was denied.

 

Moreover, If I'm permanently banned for life with doing business with Bank of America why do I still receive promotional emails from Merrill Lynch in regards to the accounts I had open?

 

I request an appeal to the lifetime ban due to no grounds of merit, reason or justification. Furthermore, a lifetime ban from doing business for a public company having large shareholder ownership from institutional holders I do business with is not possible in reality. Maybe you can ban me from doing direct business but in reality that really doesn't change anything and is very unjustified especially considering no fraud was committed on they accounts or money was owed to Bank of America or Merrill Lynch by me.

 

It also opens the discussion on who makes these decisions of lifetime bans and under what grounds. A overzealous, bias, egotistical and power-hungry customer service supervisor on a power-trip? Who made this decision? Why? What basis? What evidence? What justification? Answer: No basis, no evidence and no justification except for their own personal decision based on no reasoning except because they just feel like it and have no real basis on why. They deserve to be terminated by Bank of America and Merrill Lynch.

 

I was very hesitantly allowed to talk to any supervisors by your customer service reps and was only able to after repeated calls. Apparently, your supervisors are also cowards when it comes to resolving issues. I asked for different departments, escalating the issue or speaking to people higher up. All to no avail.

 

Bank of America / Merrill Lynch still has a long way to go in customer service and is still not there yet.

 

Your stock brokers failed to resolve my issue as well. I even had the courtesy to add a update to the RipOffReport when my last CMA account was approved but that account was quickly closed within 12 hours and likewise the RipOffReport was updated to reflect just that.

 

This is my final and last attempt to resolve this issue with Bank of America/Merrill Lynch. After this, I don't ever see myself becoming a customer again or doing business with Bank of America/Merrill Lynch directly. Just indirectly through your institutional shareholders.

 

The lifetime customer ban has no power really in practice and is really a terrible business practice in terms of the customer service experience and relationship unless the customer has committed fraud or has owed money which has not been paid. None of which I have done. If I did, I would be banned from the majority of all banks and brokerages due to a negative ChexSystem and a bad credit rating. Even than a negative chexsystem and credit report is not "lifetime".

 

Otherwise for your customer service phone reps and supervisors to ban me for life because of their personal affront against me and than rephrase it as "Bank of America has decided not to do business with you at this time and you are banned for life." is really quite comical and used as a tool for their power-trips. They are not Bank of America. They are just employees on a power-trip who have decided to alienate me.

 

I'm still doing business with Bank of America and still will until Bank of America's institutional shareholders decide not to deal with me anymore. In fact, I can likely do direct business with Bank of America here: Bank of America Store
































 


 


 


 


 


 



Bank of America Store
The fall collection is now available. Shop for more than 50 new items to support our environmental commitment.



 



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I can buy pens, apparel, office supplies and other items direct from Bank of America.

 

Have your Merrill Lynch supervisors made sure to prevent any order from being processed by me from ordering anything at the Bank of America Store? I bet not.

 

So how's that to make me feel powerful on a power-trip like your condescending power-hungry rude supervisors? Tell your supervisors they are not the owners of the corporation and they can be terminated by acting like they do. The shareholders are the owners and they will decide whether or not to do business with me. So far, I'm still doing business with them and therefore doing business with Bank of America.

 

Have your supervisors also tried to prevent me from buying Bank of America stock so I can't become a shareholder?

 

After all I'm banned for LIFE for doing business with Bank of America? Right? I don't think so.

 

Regards,

 

 Anonymous,"I Am One Non-White Customer Banned For Life At a Time."

 

 "ONE NON-WHITE CUSTOMER BANNED FOR LIFE AT A TIME!" - The Bank of America Corporation Philosophy

 

PS. I think I've proven beyond any shadow of a reasonable doubt why such a policy of "Banned for Life" is not something which can be practiced at all and it's practice is not a business decision but rather a customer alienation decision. Unless the customer has committed fraud which I have not.

 

PS. Black brokers sue Merrill Lynch for $160 Million: BofA's Merrill to settle racial bias suit for $160 million 


































 


 


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BofA's Merrill to settle racial bias suit for $160 milli...
WASHINGTON (Reuters) - Brokerage firm Merrill Lynch has agreed to pay $160 million to settle a class-action race discrimination lawsuit brought by a longtime U.S....



 



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PS. Bank of America Fined $2.2 Million in Racial Discrimination: BofA fined $2.2M in racial discrimination case


































 


 


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BofA fined $2.2M in racial discrimination case
COLUMBIA, S.C. -- Bank of America has been ordered to pay nearly $2.2 million in restitution for discriminating against more than 1,100 black job seekers.



 



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PS. Bank of America Sued for Sexism: Bank of America to Pay $39 Million in Gender Bias Case


































 


 


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Bank of America to Pay $39 Million in Gender Bias Case
The settlement comes on the heels of a big payout last week for a racial discrimination lawsuit.



 



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PS. You might as well change the name to "Bank of White Male Only America Corporation" instead of "Bank of America Corporation". Racist to non-whites and sexist against women!

 

PS. I'm finding an attorney very soon unless Bank of America removes the lifetime ban within 14 business days from this email. Enough time to decide and research the problem fully. You made the decision not to do business with me based upon obvious and clear racism. I'm serious and willing to go to court to take care of this matter. I've been persistent with the phone calls to your customer phone line, complaints filed online and now I'll start with the law for remedy.

 

PS. I'm not fooled by CEO Brian T. Moynihan's statements of him promoting diversity. Those are just words, not actions. Bank of America so far has proved themselves to be racists and prejudice. I want action proving you are not or I take legal action. I'm not kidding. By the time I'm done suing, you will wish those racist supervisors were terminated long ago they ever dealt with me. Words are cheap, I'm not interested in words. I want action or I give legal action for racism. Action is expensive including racist actions by Bank of America. But there is also smart action like not being racist and removing lifetime bans which have no basis or merit. Whether you terminate racist employees of yours is your decision, but the lifetime ban is clearly based upon racism and I will sue for it unless it is removed.

 

PS. I've had a African-American Sociology Professor long ago in college sue Bank of America and win for refusing to give him a mortgage for no reason despite excellent credit and income. You are a bunch of racists and sexist too as shown in the $39 Million Gender Bias Lawsuit.

 

Ps. BOA = Bunch of All White Males

 

PS. Do you hate gays as well? Wouldn't be surprised with lawsuits won related to discrimination of gays if I "Googled" that too.



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#3 Author of original report

Account closed again!

AUTHOR: Anonymous - ()

Account shortly closed after being opened. Less than 12 hours and they account is now closed!

I spoke to the customer service rep and they told me that they were told the account cannot be opened and that no reason is specified.

I believe someone at Merrill Lynch & Bank of America has some sort of personal vendetta against me. Like seriously. I believe they may even just be racist as I have a ethnic name and Merrill Lynch has in the past been sued for discriminating against African-American brokers.

Honestly with my experience... They are very unprofessional, no resolution to your problem is made and they do not get you a hold to a supervisor. No information is given about anything relating to issues to your account.

I tried to give Bank of America and Merrill Lynch a fair assessment and even proved it by updating this report with an account approval. Only shortly to have options trading denied when I have options trading approved with all my other brokerages and my account closed.

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#4 Author of original report

Issues with Merill Lynch & Bank of America Resolved

AUTHOR: Anonymous - ()

My issues with Merrill Lynch and Bank of America have been resolved. I'm no longer on a permanent ban list and had 1 new account approved. Maybe perhaps they had to do some background searches, security assessments and risk assessments for me as a client?

Case resolved and I am pleased with the conclusion.

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#5 Author of original report

Each Account Was Negative $100 Million Dollars

AUTHOR: Anonymous - ()

Each account was negative $100 million. Total was negative $400 million dollars. Bank of America has said that they have banned me for life for ever being a customer for Bank of America. I'm on a "special" list of banned customers forerver.

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#6 Author of original report

Closed Accounts And Issued Wrong Check Amount!

AUTHOR: Private - ()

I closed up the accounts after dealing with these imbeciles and getting nowhere. They now made another mistake. They issued me less money that I deposit into the account. Do I look like a moron to you Merrill Lynch? You are thieves!

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