Bank of America Won’t Let Me Cancel

Bank of America Won’t Let Me Cancel

What Bank of America did:
Four years ago I went to Bank of America to give them a power of attorney for my mother who was in a nursing home with dementia. I already had an “in trust” account for her where she received her Social Security check. The Bank of America Relationship Manager said I had to close the ITF account and open a new POA account for her when I already had an ITF account. I also had to change where Social Security sent her check due to the change. Now my mother has passed away, the POA is no longer valid and Bank of America is requiring that I go through probate. I believe they wanted me to open a new account to increase their productivity numbers, as that was the practice at the time, as was investigated and Bank of America was sued for later on. I’ve been informed that ITF account was an account that I had capabilities I needed for my mother who had dementia. When they switched me to a POA account and upon her passing, I have lost the ability to close her account. Bank of America has now frozen her account. I was mislead to close the ITF account and to open a POA account. The Bank of America Relationship Managers and the Estate Unit Managers are demanding I go through Probate when I would not have had to if I had not been mislead. In Marion County Florida you must have an attorney to process a “Petition for Summary of Administration”. Attorney fees start at $1,500.00 and the filing fee is $345.00. That is a total of $1,845.00 at minimum. The amount in my mother’s account is $1,284.47. Bank of America is forcing me to leave the money in the account instead of allowing me to close it. I truly believe they mislead me into opening another account for her social security benefits when we didn’t need to open another account. Now the POA has expired upon her death. The ITF account was opened at another branch prior, the branch manager, forced me to close it and open another account. Now I cannot access her account because they froze it. It makes no sense to go through probate and pay $1,800 when I’m trying to retrieve $1,200 and close the account. I have been a Bank of America client since 1998 and a Platinum client for years. I am seriously considering taking money elsewhere if this is not resolved in my favor. A Bank of America employee created this problem, he has now been terminated, therefore I hold Bank of America liable. I have done my due diligence and I hold Bank of America liable.

What would you like the company to do to fix the problem?

Full disbursement of $1,284.47.

How would you rate your experience with Bank of America?
⭐️ (1/5 stars)

Submitted by: Anonymous in Florida | Read more Bank of America complaints

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