El Paso, Texas

My mother in law died back in September. My wife and her sister are joint executors (either one can operate independently). As soon as the will was probated, my wife and sil started closing accounts and dividing the money. They found out that my wife's name was on the Bank of America checking account my mil used to pay her bills, even though she had never signed a signature card; the account listed both daughters as POD (proof of death) account holders.. They wrote checks for expenses, including the funeral. Wife then took money out of BoA to start an estate account.

Once the will was probated and they had Letters of Testamentary, the two of them started closing the credit union accounts, with no problem. They also started work on closing her brokerage accounts and annuities. NOT ONCE did they have a problem.

Last Thursday, wife went to BoA to close the account and the Assistant Manager called legal. Legal said they needed a letter from my sil (who lives in Washington state) showing her bank account, her liquidity, and a notarized letter stating she was who she was. When asked by my wife why they were going through this when she had the death certificate and POD, the AM said that was the way legal wanted it. When wife asked why she had been allowed to write checks on the account, the AM said, anyone can sign checks, we don't look at that. WTF????

So, BoA lets anyone sign checks on accounts; they don't follow Texas law on POD and Letters of Testamentary; they do everything in their power to keep money that does NOT belong to them.

Oh yeah, they also said the manager wasn't in, then the assitant manager who handled the matter had two days off.

Product or Service Mentioned: Bank Of America Checking Account.

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POD= Payable on Death



Get to know the Consumer Financial Protection Agency, the successor to the Comptroller of the Currency complaint process. I had trouble with BoA, they were intransigent and wouldn't fix their own screw-up.

Fine--went online and filed a complaint with the CotC, which forwarded it to the new CFPA. Got calls and letter from BoA anxious to fix things and even sent a $50 Amazon gift card to smooth things over. I used it immediately, then closed my account.

Screw 'em.

Raise *** with the regulators by complaining. Just the hassle involved for BoA will get you more than days of arguing with nobodies.