Account opening, closing, or management

Posted on Posted in Bank, Complaints

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Bank of America ( BAC ) sold accounts to XXXX XXXX. My accounts were part of the sale. I chose to go with a different bank. I called XXXX on XXXX/XXXX/15 and requested closure of XXXX checking accounts, XXXX money market accounts ( MMA ) and XXXX visa. Accounts were closed immediately for all but XXXX MMA. They said because it was over {$20000.00} it had to go to the Back Office for closure and would take about XXXX business days. On XXXX XXXX I received a letter ( it was dated XXXX XXXX ) from BAC saying I needed to sign and have notarized an authorization form to close the account ( BAC Reference # XXXX ). Same day ( XXXX XXXX ) I signed, had it notarized and deposited in the mailbox ( in an envelope provided by BAC ). The following Tuesday or Wednesday ( XXXX XXXX or XXXX ) I called to verify that the document was received and the account closure was in progress. They could not verify that it was received but said the account closure was not in progress. I offered to scan and send a copy of the form. They said they could n’t close the account off of a copy. I was also told it may take a couple of days to process the request once received. I called back again on XXXX XXXX and talked to a manager, XXXX, who said he went into the system and requested immediate closure ( BAC Reference # XXXX ). He said he did n’t need to notarized document to do this. I called back on XXXX XXXX and was informed by a XXXX XXXX that the ticket was closed but the account was still open. No action was taken to close my account. I asked to speak to a higher level manager so that I could get my account closed and receive my money. XXXX XXXX said he would have his manager contact me. I have never been contacted. It is now XXXX business days from the original request to close ( XXXX XXXX to XXXX XXXX ) and my XXXX larger account is still not closed. All other accounts are closed. I was never provided checks for this account and there is not a Bank of America office where I live so I have no other way to get my funds and get my account closed except through this process. Had I known the issues I would be facing now I would have transferred most if not all of the funds to my checking account before requesting closure. It is my belief that Bank of America is stalling on closing this larger account so that it is transferred to XXXX XXXX and the portfolio of deposit accounts/relationships sold to XXXX XXXX remains higher than what it would have been if accounts are closed as requested. I suspect others may be experiencing the same issue that I am.

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