Public Mediation

Martez Miller vs. Merrill Edge (Bank Of America Corporation)

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M. M. vs. Merrill Edge (Bank Of America Corporation)
2240 N Bellflower Blvd, Long Beach, California, 90815-2017, United States
Amount Involved: $2,700.00
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
      (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 3498262
    • Amount Involved: 2,700.00
    • Filed On: Jul 08, 2017
    • Posted On: Jul 19, 2017
    • Complaint(s):
      • Problem with a service
      • Bad business practices
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Statement of Claim
Claimant says:
"4/10/17 - Opened an account in the amount of $200,000.82 with Merrill Edge (Bank of Americal Corporation) and was informed that by opening the account, i would receive $900.00, after 90-days.
5/31/17 - I received a check dated this date in the amount of $200, 002.34.
6/5/17 - When I inquired about the $900.00, I was eventely informed that my account had been closed by them, and I would not be receiving the $900.00, without further explalnation."
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  • 04-10-2017 — Deposited check in the amount of $200,000.82
  • 04-18-2017 — Received written confirmation from Connor D. Weinman, that the $900.00 discussed on 4/10/17 would be provided after 90-days
  • 05-31-2017 — Received check in the amount of $200,002.34, dated this date.
  • 06-05-2017 — Went to see Zachary Taylor regarding the check that was received. Mr. Taylor was not in the office, and a message was left. On same date, called Connor D. Weinman, and left message regarding check; why it was received and why the discussed $900.00 was not received
  • 06-08-2017 — Received letter from Brian Brown, Service Research and Resolution,, regarding the messages left for Mr. Taylor and Mr. Weinman on 06/05/2017. No information was provided in the letter regarding my concerns.
  • 07-07-2017 — Received call from Connor D. Weinman, who stated that I would not be receiving the promised $900.00 and that they had closed my account. No further explanation was given why the account was closed or why I would not be receiving the $900.00.
  • 03-28-2017 — Met with Zachary Taylor, Financial Advisor, Merrill Edge. During this meeting Mr. Taylor informed me, that by opening an account in the amount of $200,000.00 for 90-days, that I would get a return of $900.00. Mr. Taylor was given a check in amount of $200,00.00
What Claimant Wants Hide
1. Payment due: Acct: 51X59910 Jul 21, 2017 $2,700.00
2. Other – Pay for claim posting cost Jul 21, 2017 $14.99
Cash total : $2,714.99
  • 1
Do you agree with the claimant’s demands?  (If you are a party to this claim, click here.)

Respondent's Counteroffer

There has been no response to this claim from Merrill Edge (Bank Of America Corporation). This claim will remain posted until resolved
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  • 1
  • Contributed Solution: by J Petaluma On 09-11-2017
    Under FCRA, Merril Edge - Bank of America may be required to tell you why they refused to open an account. File a complaint with the CFPB if they didn't. More...
If you are a party to this claim, click here.
Is this a fair resolution?
  • 1
  • Contributed Solution: by Jim Wicks On 09-08-2017
    Step 1: Merrell Edge should tell its side of the story in this forum. The behavior described appears to be "bait and switch" but it makes no sense; what did they gain? — they no longer retain the deposit.
If you are a party to this claim, click here.
Is this a fair resolution?
  • Question: by David Herrerias (297 points) — Online mediator
  • On: 09-08-2017
  • Did you open the account after responding to a promotion offering the $900, or did you learn about it as you were making the deposit?  If you came into the bank because of the offer, do you happen to have any promotional material—letter, email, brochure, etc.—that describes it?

    As I read your description of what was offered, it was $900 to open the account, payable 90 days later.  But the payment was not honored because the bank closed your account and returned your deposit before the end of the second month.  However, your claim demand is $2,700, or $900 per month for three months.  Is there a misunderstanding? 

  • 1
  • Contributed Solution: by Ehsan Samavatian On 09-08-2017
    I think the best way to settle this case is going to the bank and talk with them in person, instead of sending email or calling them. There should be a term or condition to let them close your account and more than that, they should call you and tell you what exactly has happend before they close your account and send the check.
If you are a party to this claim, click here.
Is this a fair resolution?
  • 1
  • Contributed Solution: by Sophia Patel On 09-08-2017
    Lets start with they owe you an explanation. After that I'll propose a revised resolution. But they definitely owe you a full explanation. Have you spoken to the branch manager? If not, send a letter or have PeopleClaim do it to their branch and regional managers. If that doesn't work have them send it to their compliance department. You're en More...
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