My father had trusted and done all his banking at B of A for over 40 yrs. He listed on his accts my brothers name as Trustee so if and when he passed away his final expenses would be taken care of. When that day finally came B of A was notified in person & by many phone calls that he passed away and we were waiting for all his medical & final bills to arrive before any monies be withdrawn.
Unbeknownst to us B of A took it upon themselves to empty his accounts of over $43,000 and give it to a family member who had no legal standing, NOT listed on his accounts OR an authorized signer. When my brother went into to B of A to withdraw monies to pay expenses he was told there was a nothing left. After I stepped in to find out how this could happen I was told that "ANYONE" with a copy of the death certificate could come in and withdraw from the account.
We had notified the bank this might happen - I personally spoke with their representative who assured me only my uncle would be able to withdraw the money. As he was the TRUSTEE
This is a total DISSERVICE to its customers especially seniors who are vulnable and trust that Bank of America will safekeep their hard earned money and administer it the way the want. All seniors and others that don't read the fine print need to know that they must take extra steps to avoid having their accounts raided by anyone who can obtain a copy of their death certificate through the public records department.
the modesto branch located next to the mall is fully responsible, and at one point, admitted their mistake. However, now they are refusing to talk to us and will not cooperate. They are forcing us to sue them.
THEY MADE A MISTAKE IN SEVERAL AREAS OF THE TRANSACTION. They even tried to contact my Aunt to cover their mistake. We are angry with my aunt (who will be brought to justice) We also hold B of A responsible for being CARELESS & not fixing their mistake.instead they say their hands are tied and we must seek legal action BECAUSE their legal department must handle this due to the COMPLICATIONS of it all.
I know some people say "they can't do that without proper documentation" I have all documentation necessary as I was his primary caretaker and my uncle was his TRUSTEE She was not on a single document. He had nothing to do with her the last few years of his life because of the type of person she was, However Bank of America should not have allowed the money out of the account - I believe they did because she opened an account in their bank for the full amount she withdrew from my fathers account.
they complicated it.
THEY GAVE AWAY THE MONEY WITHOUT PROPER DOCUMENTATION, THEY DID NOT FOLLOW THRU THEY DID NOT PROTECT MY FATHERS MONEY EVEN WHEN HE SPECIFIED A TRUSTEE
please be very carefull when handleing your accounts. IF YOU HAVE A SIMILAR STORY, I would love to hear from you.
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