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

[Antigone]

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.

BofA has no "bail out" money on the way. It has already received approx 45 billion and is not on track to receive any more.

Again, something is not right

[mca]

I agree with you but that was her response. I didn't mean to offend anyone at all and I do appreciate all the help

[Perry Mason]

I don’t know but if you (or your friend) wasn’t banking with BofA (who I have had problems with in the past and won’t ever do business with again) then you’re stuck. Something sounds “off” here as it is your money and the only thing I could even begin to think is if the money was in a special 401 K that was tied to certain investments those monies might be frozen to protect the value of the 401 or the try to prevent the funds from being removed and the bank taking a further loss. If it was a simple savings account then you would have a huge reason to sue them, but not if the account is tied to investments.

BofA would be the last bank I would ever send any of my business to and I stress LAST. Only Credit Unions are credible enough for me to trust not to mention banks are businesses and out for profit and people tend to forget this.

[Antigone]

BofA would be the last bank I would ever send any of my business to and I stress LAST. Only Credit Unions are credible enough for me to trust not to mention banks are businesses and out for profit and people tend to forget this.

...Ok Sherlock, I mean Perry, last I checked we were a capitalistic economy and the whole gist of the game is to turn a profit. As a component of the Dow 30 you think their goal would be to turn a profit, right

[mca]

The one thing I just realized is that the HQs is not in Ny as she stated but it is in NC. And generally attorneys do not make phone calls in these cases, they send out letters

[Antigone]

The one thing I just realized is that the HQs is not in Ny as she stated but it is in NC. And generally attorneys do not make phone calls in these cases, they send out letters

MCA, I really think your friend is either yanking your chain or very confused. Like I said something is not right with this story. Does this friend owe you money?

[That Guy]

As a component of the Dow 30 you think their goal would be to turn a profit, right

Forget the Dow... It is their duty to their shareholders to turn a profit! They are after all a public company AND the largest banking entity in the entire county!

This entire matter could be resolved by making one phone call to the FDIC!

But then again, the entire "BofA froze my account" story is ridiculous enough to begin with that there is no need to bother calling the FDIC!

[Antigone]

Forget the Dow... It is their duty to their shareholders to turn a profit! They are after all a public company AND the largest banking entity in the entire county!
This entire matter could be resolved by making one phone call to the FDIC!

But then again, the entire "BofA froze my account" story is ridiculous enough to begin with that there is no need to bother calling the FDIC!

Spoken like a true investor!!!! I do have to say that I did buy when it was at three and change ~ twas one of the better buys I've made this year

[That Guy]

I do have to say that I did buy when it was at three and change ~ twas one of the better buys I've made this year

A gutsy move at that point, yet obviously a GREAT buy in hindsite
Been there done that too, however... I've already sold a few lots to cover my basis & locked in a decent profit... I'll let the rest ride and we'll see.