Complaint Review: Bank of America
Bank of America BOA Unclaimed Property, Inactive Account Plano, TX Nationwide
*General Comment: Good luck with that---
*Author of original report: Bank Department of "unclaimed property"
*General Comment: What???---
*Consumer Comment: Complex?
*Author of original report: We did ...
*General Comment: Information & questions---
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We opened an account with Bank of America for my daughter's 18-year birthday. However, due to no transaction on the account for the first 9 months, Bank of America declared the account inactive and an "unclaimed property". The bank would earn interest on this "unclaimed property", but the account was frozen from customer. That is taking money away, both principal and interest, from customers. The bank claimed a letter was sent alerting the inactivities, but we never received the letter. To take an account away from a customer as "unclaimed property" is a shocking action by the bank, how can they do it so easily?
This can not be an isolated event, since it was originated from BOA internal policies. If many customers suffer from the same lost due to illegal confiscation of accounts by BOA, and suffer from its potential danger, customers should for a class to get their legal justice back, and their properties back.
This report was posted on Ripoff Report on 05/07/2017 09:03 AM and is a permanent record located here: https://www.ripoffreport.com/reports/bank-of-america/nationwide/bank-of-america-boa-unclaimed-property-inactive-account-plano-tx-nationwide-1371818. 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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