Bank of America Says Savings is Frozen Until They Get Bail Out

[mca]

Has anybody else had Bank Of America holding thier savings account hostage until they get thier (bailout $)???

They have denied us access to our savings account for almost 7-8 months now because they said they needed the bailout money to balance out.. Is this even legal, how can they do it, it has really hurt us not to be able to access our own money.

We had to pay a lawyer to contact them to no avail...What can we do to make them give us back our money, which is everything we have in the whole world..

Well after several weeks of our attorney calling the bofa HQ in NY, they finally told him that our account would remain frozen until the bank recvd thier bailout $.. Now keep in mind that this was told to us twice the first time BEFORE they recvd thier first bailout money, then after we called to say Hey you got your money where is mine. They still told us we woudl have to wait until they recvd more bailout money. How is it possible this is legal? And who do you go to for help its not like I can call the police.

[LawResearcherMissy]

What did your attorney say?

I find no one else reporting this behavior from BoA.

[Antigone]

I've never heard of such a thing either. I don't believe we have the whole story.

eta... just curious, approximately how much in your savings and exactly what type of "savings" account is (exact product name please).

[CourtClerk]

Funny, I have a savings account with BofA. I don't have this issue.

[Antigone]

Funny, I have a savings account with BofA. I don't have this issue.

Even funnier. I know people who move millions in and out of BofA on a daily basis and have no issues either

[525601minutes]

MCA - after reading your other posts, I am wondering if your BoA account has been frozen by a collection agency and not by your bank...

[Antigone]

MCA - after reading your other posts, I am wondering if your BoA account has been frozen by a collection agency and not by your bank...

525, collection agencies don't hold onto funds for 7-8 months.

[mca]

I am sorry I should have made myself more clear but this is a person that I was trying to help and not myself. I am guessing that I don't have the full story as well or something else is going on. I have researched it and see nothing else that indicates that this is going on. I do appreciate all of you help though on this matter, it was greatly appreciated.

[Antigone]

I am sorry I should have made myself more clear but this is a person that I was trying to help and not myself. I am guessing that I don't have the full story as well or something else is going on. I have researched it and see nothing else that indicates that this is going on. I do appreciate all of you help though on this matter, it was greatly appreciated.

I think you were perfectly clear ~ clearly not telling the truth.

In the future if a "friend" needs help, ask them to register themselves and ask their own questions. You look like a complete fool posting for "someone else" as you did.

[mca]

not very nice Antigone but anyhow here is an update to her situation for anyone that is interested.

UPDATE: I told this lady what was said and this was her reply:

Im most certainly not confused. I am telling you the same thing bofa told my lawyer..and by the way its only the high interest account we have or 40k in it. I found out few weeks ago same thing happened to A.Rod *(ny yankee's). And yes we got the same run around when we called, we got different answers from lots of different people and I am sure they are not telling people about it... Anyway We have gone to bofa and got district mngrs in house face to face and still to no avail. I clld the lawyer yesterday and bofa told him most of these kinds of accounts will supposedly be released mid summer...but they def came right out and said they were holding our account until they recvd thier bailout $$ from the gov. so...they lied to you if they are saying it's not happening..Thanks anyway, but bofa clearly isnt going to tell anybody what is really going on. All I know is my account is still unavailable, denied access, no withdrawls, and no def date on when they will release our account. I appreciate your response. but this is def not a mistake, and it wasnt closed, no chexsystems error., nothing except they obviously used our money to cover other cost. But no talking or screamming for that matter has made a bit of diff. they just keep putting us off..I guess we have no choice but to bend to big banking and wait until thier good and ready to release our account.