Complaint / Review
Bank of America
Savings Account Closure Delayed After Transfer Restrictions

Cheated by Bank of America

After having my old Countrywide online savings account taken over by Bank of America and watching the interest rates drop to practically nothing, late last year they restricted my account so I could not transfer more that one thousand dollars at a time to my linked account, without invoking a service fee. I had enough and attempted to close my account, only to be told that they would send me a check in 7 to 14 days. When the check did not arrive, I called again, and was told the account was marked for closing, but I needed to send them a written request. I did, then received a form requiring me to have a notarized "Bank of America Trust". After writing a complaint letter to the Federal Reserve, I finally got my money out, with no interest being paid from January through March. What a Rip-off!