Sudden confusing banking account closures - Bofa stops the 17 -year -old customer
Several people came forward after the bank closed its accounts without warning.
The trend of Closure of bank accounts Unexpected is disconcerting, to say the least. The customers of several large financial institutions have come forward to allege that they were excluded from their accounts without warning, leaving them without their money or a way to access them. Bank of America's customers also presented allegations according to which the company suddenly closed its accounts, an alleged woman that she had been excluded after 17 years. Read the rest to find out what customers say.
In relation: Chase and Citi customers say their accounts are closed without warning .
Complaints go back to 2022.
The New York Times recently examined more than 500 cases of suddenly closed Bank accounts, including several complaints linked to JPMORGAN CHASE and CITIBANK. However, Bank of America's customers were also affected. AE0FCC31AE342FD3A1346EBB1F342FCB
In June 2022, Christina Blanton , a Bank of America 17 year old customer At the time, spoke with CBC News Chicago about his experience with a closed account.
"I went to connect to my online banking services and he kept saying" the locked account ". And so I thought that I incorrectly entered my password," said Blanton at the exit. It was originally locked in April, which led to months of several months with the customer service of Bank of America.
"I was transferred to several people and I finally told them and the young woman said" we decided to close your account, "said Blanton.
Bank of America would have told him that it was a "commercial decision" that led the company to close its account.
In relation: Bank of America and Chase close even more branches - here is where .
She ended up recovering her money, but she was still frustrated.
Make it more complicated, Blanton said the test occurred before it was supposed to undergo surgery for thyroid cancer.
"I was upset and frustrated," she said last year. "It was just before I undergo the operation and not being able to access your money, emotionally, I wanted to cry. I just faced this and that has been doing it since April."
After the interference of CBS, Blanton received a call from someone who said that he was the CEO of the company, who apologized and said that they would examine the situation. She ended up recovering her money, but that did not facilitate all her frustration.
"It is a society where someone should take the time to give the person the least." Then they are just broken. With nothing. And it is an unfair practice for anyone, "said Blanton.
Better life Contacted Bank of America for comments and will update history with his answer.
In relation: Wells Fargo steals 10 additional branches in the middle of mass banking closures .
It is not an isolated incident.
Bank of America has also been criticized this year, several customers citing similar complaints.
In September, a customer set out to broadcast his grievances, writing: "Bank of America Just Closed my account Because they say that I owe business rental money over 20 years ago !! I'm just away, but if someone else had what happened to them, you are in my prayers. ""
Other articles share similar stories, including one from August where a client said that Bank of America had closed his account " After 9 years perfect payment history. "In January, another customer responded to a Message from the Federal Reserve On banking problems, ask for help.
"Bank of America closed our current account without providing any reason - What are our rights in this situation. Do you have information / resources on this subject, "they wrote.
Experts say that banks often close these accounts due to suspicious activity.
During the summer, CBS News Los Angeles examined the model of closed bank accounts , including another situation with Bank of America. The catch spoke with Elad Nehora , of which Publish About his experience with a Bank of America closed account has become viral.
"I am with my wife and daughter in an office in @bankofamerica," he posted on July 11. "They have closed my account [without] notice or explanation, and we will not be able to feed our family or pay medical costs. We stay here until it is corrected. So far, they have refused to Explain why they did this. "
Once CBS News introduced himself to the bank to interview him, the company ended up allowing him to transfer his money - and even if Nehora was not initially provided additional information, Bank of America said more Late to CBS that the Federal Bureau of Investigation (FBI) reported the account after Nehorai pointed out that his email had been hacked by a crook.
Nehorai declared to the point of sale that he was "shocked to discover that this was relatively common" - and according to the banking expert J.D. Koontz , banks often close the accounts that are reported for suspicious behavior.
"Unfortunately, some good people are taken in the net with the bad ones when they try to eliminate who could cause problems," Koontz told CBS News. "Banks are always under the vigilant eye of regulators, who will amend them so as not to do their job or not protect consumers. And therefore by freezing or closing someone's account, they are not necessarily penalized for This, and therefore they probably tend to be more wrong on the side of prudence, which, unfortunately, creates difficulties for individuals. "
In relation: For more information, register for our daily newsletter .
