Complaint #1791671 submitted on 02/17/2016 relating to Bank of America. Complaint relates to Bank account or service Checking account - Deposits and withdrawals .
Complaint was submitted via Web and sent to the company on Wednesday 17th February 2016.
I am the trustee of a trust that is being liquidated. The mutual fund company issued a redemption check that I deposited into Bank of America. B of A has now placed a hold on those funds. There is no pattern of unusual activity here - the amount of the deposit is not unusual for this account, the account has never been overdrawn, and the funds are drawn on a large and reputable mutual fund company 's account ( XXXX XXXX ). Bank of America told me that the hold was placed because the issuing bank ( XXXX XXXX ) is unable to confirm sufficiency of funds. I called XXXX XXXX and they have verified that the check CLEARED XXXX XXXX. Somehow Bank of America is not being straight with me and in the meantime is interfering with my ability to fulfill my fiduciary duties to liquidate the trust and distribute the proceeds.
| Company | Bank of America |
| Complaint ID | 1791671 |
| Date Received | 02/17/2016 |
| Product | Bank account or service Checking account |
| Issue | Deposits and withdrawals |
| State/ZIP Code | CT 061XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company chooses not to provide a public response |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 02/17/2016 |
| Result | Timely Response: Yes, Consumer Disputed: No |
Leave your comments and feedback below.