Banks freezing accounts has now become a painful problem as more customers nationwide report inexplicable financial damage.
Some of the biggest banks, including Bank of America, Wells Fargo, and JPMorgan Chase have given customers a painful experience recently.
After reporting how families accounts have been frozen by MVB Bank and Green Dot Bank, several bank customers reported to FrankNez their current experiences with much bigger banks.
“Wells Fargo and now Chase have done me like this since 2019.
They recently froze my bank accounts 4 months ago trying to stop the purchase of my home and keep the account frozen every 2 weeks since then.
There are multiple issues with banks and freezing accounts with inadequate reasoning.
I have lawyers working on the case as well. Thank goodness I’m not the only person suffering and dealing with this issue,” says DeVonn.
Hurtis Woodruff from Alabama says he thinks big banks are taking advantage of the middle class as he seeks to sue Wells Fargo for fraud.
“Get a lawyer gather every bit of verifiable proof you can. Your local or high court will award you your money back and then some. They are doing this sh*t because people are not suing them,” says Allison Alexander.
By far the most reports seem to come from Walmart’s partner Green Dot, which has more than 33 million users.
The bank seems to lack liquidity with the number of reports coming to light of the bank preventing access to money.
Retirees money has been held hostage with many families resorting to having to use high interest credit cards and even miss bills completely.
Related: Banks Are Now Closing Thousands of Accounts Daily
New Reports of Banks Freezing Customer Accounts
At first it seemed that only smaller banks were freezing customer accounts but just recently, Bank of America customers also faced this inconvenience.
Coinbase CEO Brian Armstrong took conducted a poll after a user said their Bank of America account had been closed for no apparent reason after a 15-year run.
The Bank of America customer stated that they do Coinbase transactions directly from the bank.
“This is a war on Bitcoin & crypto”, they said on Twitter.
At the time of this publication, more than 1,400 users voted to have been affected by a similar or same occurrence.
“Closed my account with them in 2010 after 10yrs. Worst bank I ever had,” said one user.
Still, more reports are coming from smaller bank such as Green Dot.
“I had accounts with Green Dot Bank(Go2bank), I closed them around 2 years ago and still haven’t received my refund in prepaid credit card, I sent proof of D.L and SSN.
Now they can’t find my accounts, but they send me monthly bank statements.
When I try to enter my name and password it kicks me off, and customer service hang up or put me on hold never answering again.
I am a cancer patient and veteran. $222.63 to a disabled person is a lot”, John Burnett reported to FrankNez.
For more news and updates, opt-in for push notifications, join the newsletter, or follow me on social media below.
Also Read: The US Treasury Direct is Now Freezing Customer Accounts
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Become a Sponsor for only $1/mo.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
