Why is Bank of America closing my accounts?

Why is Bank of America closing my accounts?

There are two basic reasons for a bank to close your account: it doesn’t expect to make money on it, or it’s afraid of being liable for some fraud or money-laundering you might be doing. The bank does not need proof or even evidence.

Can Bank of America close your account for no reason?

Banks have a lot of leeway to freeze or close accounts on a case-by-case basis. When you opened your checking or savings account, you signed a customer agreement, and banks usually put language into these agreements that says they can restrict or close your account at any time, for any reason or no reason.

Is there a Bank of America in all 50 states?

In commercial banking, Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries.

Can you reopen a closed Bank of America account?

Bank of America will reactivate a closed account if an electronic deposit or credit, like an automatic bill payment, is made. “If we receive something, we may reopen the account to accept the item, and the account may be subject to associated fees,” Betty Reiss, a Bank of America spokeswoman, told The Huffington Post.

Can a bank freeze your account for suspicious activity?

Banks may freeze bank accounts if they suspect illegal activity such as money laundering, terrorist financing, or writing bad checks. Creditors can seek judgment against you which can lead a bank to freeze your account. Check with your bank or an attorney on how to lift the freeze.

What bank is in most states?

Wells Fargo is still the bank with the most branches in the U.S. In fact, about 6 percent of bank branches in America are Wells Fargo branches. It has hundreds more branches than Chase and nearly 1,200 more than Bank of America. Wells Fargo also has the most branches in nine states and Washington, D.C.

How do I contact Bank of America customer service?

Since email is not available for most topics, we suggest that you contact us by phone, by making an appointment, by visiting us at a financial center or by reaching out on our Facebook page layer (select the Get Help link) or on Twitter @BofA_Help layer. You can also write to us at: Bank of America PO Box 25118 Tampa, FL 33622-5118

What is Bank of America doing for small businesses?

Bank of America supports local economies by partnering with community development financial institutions (CDFIs) across the U.S., and Puerto Rico and the District of Columbia. Through these innovative partnerships, we’re connecting small business owners to more capital, building thriving communities.

How do I chat with a Bank of America agent?

You can chat with Bank of America about your interest in opening one of the following new accounts: Checking and savings Credit card Small business Auto loans To check agent availability by product or service, sign in to Online Banking, hover over the Help & Support tab, select Contact us and choose a topic and then select Go.

Why is my Bank of America chat window not working?

Be sure the chat window’s internet address is either chat.bankofamerica.com or sec1.liveperson.net. Be sure that the SSL (Secure Socket Layer) certificate is registered to Bank of America or Live Person. To check the certificate, place your mouse over the chat area, right click the mouse, and select Properties.