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Report: #1319770

Complaint Review: Bank Of America - Nationwide

  • Submitted:
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  • Reported By: CAUGHTYOU — Burleson Texas USA
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  • Bank Of America Nationwide USA

Bank Of America BOA DO NOT OPEN ACCT SMALL BUSINESS HOUSTON, TEXAS Crowley TEXAS Nationwide

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I have been banking with Bank Of America for many years and have opened numerous accts with them both LLC corporation, DBA's and personal, Savings, money markets. 

With their new accounting procedures they will not let you have access to your funds if you do a DBA for up to 90 days no matter how long you have been a bank customer.

I opened a new acct and I had a large construction job that the title company gave me a 70,000 dollar interim cashiers check to start the work. Bank of America for no reason or no reason they could give to me our would they give to me. They shut down over 255,000 dollars worth of my business, personal, money market accts and would not let me get the money out. This was not a government seizure, our was it any seizure at all it was an in-house risk management decision telling me after 12 years they no longer wanted to do business with me. I immediately went down to get my personal bank account money thinking it had something to do with the new account but they said i would not be able to withdraw funds for 72 hours from the personal acct and then i would need a notarized statement from me stating where I got my personal money. I also had savings of 36,000 received from some bonds my mother had given me they were EE 30 years bonds they put a hold on the bonds and finally released those but could not give me but 2400 dollars cash because they said the bank does not have that much money on hand. What is the deal. This is my money. i have employees to pay. 

On the 70,000 they still not have released the cashiers check even though they cashed it over 13 days ago. they want a ledger from the bank and the title company with a notarized letter from the title company explaining were the money came from. Why? i have a title insurance policy why are they asking me for this information and not the bank that issued the cashiers check.

All in all DO NOT OPEN ANY ACCOUNTS with Bank Of America they are insolvent i really do not believe they have the money to cover even a a small deposit . i had another associate that had $150,000 into the bank he went immediately trying to close the acct they would not give him the money they said it could take up to 10 days and they would send him a cashiers check which will take another 10 days to clear. Something bad is happening at Bank of America. get your money out of there now. i have went to Wells Fargo but they are also scaring me for they have changed up the deposit contract they do not have to give you your money back that you put on deposit. Read the print take it to your atty you will see what i am saying. i am thinking about Credit unions they are private and they will take care of your money plus give you loans.

be careful patriots this is a very scary time with big banks.

 

Sincerely;

Tom Bradford

This report was posted on Ripoff Report on 07/30/2016 11:31 AM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america/nationwide/bank-of-america-boa-do-not-open-acct-small-business-houston-texas-crowley-texas-nationwi-1319770. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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