Bank of America is Freezing Accounts in 2025: Check If you are affected in 2025, many Bank of America customers have reported their accounts being frozen unexpectedly. From fraud prevention to regulatory compliance, several factors are triggering these account holds. The bank has confirmed that it can and will close accounts if they are deemed inactive due to state escheatment laws.
Bank of America is Freezing Accounts in 2025
A frozen bank account is one that does not allow outgoing transfers or withdrawals. Your bank account may be put on hold if a bank suspects fraud or you have unpaid debt.
You won’t be able to transfer or withdraw money from a frozen bank account.
You may need to verify your transaction history or repay your debt to restore account access.
Why is Bank of America Freezing Accounts in 2025?
Account freezes are not new, but recent trends show an increase in such actions, especially due to:
- Inactivity and Escheatment
If your account has not had any activity for several years, state laws may classify it as abandoned. Banks like BofA are then legally required to hand over the funds to the government’s unclaimed property department.
- Suspicion of Fraud or Hacking
BofA is on high alert for digital fraud. Cases of SIM swapping phishing and suspicious wire transfers have led to immediate account holds.
- Missing or Incomplete Verification
Banks are legally obligated to verify the identity of their customers. BofA has reportedly frozen accounts of customers who failed to submit required documents or whose identification appeared inconsistent.
- Anti-money Laundering Checks
Unusual deposit patterns, large foreign transactions, or transfers linked to flagged accounts can result in a freeze.
- Internal Compliance Reviews
Sometimes, BofA carries out random audits and system-based checks. If your account ID is flagged during, like, a process, it may be temporarily frozen until verification is complete.
How to unfreeze your account: Step by step
- Contact your Bank
Calling your bank is usually the quickest way to find out why your account is frozen and what you can do to regain access.
- Resolve the issue
You may be able to have your issue resolved quickly; it all depends on your situation. For example, Adams says if your account was frozen because the bank suspected fraud, you can talk to a banker about your recent transaction history to indicate it was a mistake.
- Stop Payments
If your bank account is not going to be restored within a day or two, stop all incoming and outgoing payments. Outgoing transfers, like online bill pay, will not go through when your bank account is frozen.
- Get Legal advice, if needed
If your issue has to do with creditors or the federal government seeking unpaid debts, it may be a good idea to retain legal counsel.
What is escheatment, and how does it affect your account?
Escheatment is a legal process through which financial institutions must transfer unclaimed or abandoned property to the appropriate state agency for safekeeping. This includes funds from checking and savings accounts, Individual Retirement Accounts (IRAs),
Certificates of Deposit (CDs), uncashed cheques, securities, stocks, and safe deposit box contents. Bank of America notes that it is obligated to comply with the escheatment laws of each U.S. state. Once an account is flagged as abandoned, the institution is required to notify the account holder. But if the customer fails to respond, the assets are turned over to the state.
Conclusion
In this article we discussed the Bank of America is Freezing Accounts in 2025: Check If you are affected in 2025, many Bank of America customers have reported their accounts being frozen unexpectedly. If your account has not had any activity for several years, state laws may classify it as abandoned. If your bank account is not going to be restored within a day or two, stop all incoming and outgoing payments. For new and more information, you can check the official website.
FAQs
1. How long will it take to unfreeze my account?
Ans. It depends on the reason. For document verification, it can take 3–7 business days. It might take longer depending on investigation outcomes.
2. Can I access my money during a freeze?
No. While the account is under a freeze, deposits may continue, but withdrawals, transfers, or debit card use will be blocked.
