Mother Says Bank of America Charged $100 to Close Deceased Son’s Account

“He loved his motorcycle,“ said Mary Gorman as she talked about her son Brian. “He rode a Harley all over the United States”
   
Gorman lost her 48-year-old son, Brian Foster, to a terminal illness in March. Since then, she’s been trying to take care of the little money he had left in the bank. When she closed his checking account with Bank of America the bank assessed a $100 legal fee

“I just didn’t realize they would charge to close an account,“ Gorman said. “They’re taking money from a dead person.“

Gorman kept pushing to get that $100 back, especially since her son only had a few hundred dollars in the account anyway.

“I just didn’t feel like anyone else was entitled to it,“ said Gorman.

Gorman said she kept asking Bank of America to show her the paperwork that they had the legal right to tack on a fee to close the account. When she didn’t get it 7 On Your Side started asking Bank of America to explain the fee. Spokesperson Nicole Nastacie wouldn’t talk about Foster’s account due to privacy but said the deposit agreement allows for a deduction of a legal fee without prior notice. In a statement she said:

“The customer agrees to pay our fees and expenses for research and copying of documents and all other expenses, including administrative expenses, that we incur in responding to any legal process related to a customer’s account.“

Still, the bank refunded the fee as a “courtesy”.

“(A staff member) said he was going to go in the office this morning and cut me a check for $100,“ said Gorman.

That courtesy was the answer this grieving mother waited for months to get.

We did some research to find out if any other major banks charge a fee to close an account. Wachovia said they charge a $25 fee if you close a checking account within 6 months of opening it but said they’d likely waive the fee if the person passed away. SunTrust told us they would not charge a fee.

If you think your bank isn’t being fair contact the Comptroller of the Currency at 1-800-613-6743 or click here to file a bank complaint online.