Demand Letter to Bank of America and Commentary

LETTER OF DEMAND, AUGUST 24, 2017 [PDF version]
[Address and contact information redacted]

Fax: 980-233-7070

Please forward as appropriate.

On August 21, 2017, Bank of America stated by mail that my personal checking account # [redacted] and my personal savings account # [redacted] are being restricted in 21 days and permanently closed in 30 days. The only reason that is stated is that Bank of America may elect to close my deposit accounts at any time. However, the savings account has a pending promotional offer of $150.00 which has not yet been paid out. I have met all requirements for the offer, which stated that I would receive a $150.00 cash bonus for depositing $10,000 within 30 days of opening the savings account, and that, following this 30-day period, the $10,000 balance must be maintained for 60 days. Subsequently, I should receive the $150.00 bonus within 60 days, which is a maximum of 150 days from account opening (April 18, 2017), which would be September 15, 2017. However, Bank of America has elected to restrict my deposit accounts on September 11, 2017, and permanently close them on September 20, 2017.

As of August 24, 2017, my Merrill+ Visa Signature credit card ending in [redacted] has vanished from my online banking profile with Bank of America, and, upon attempting to sign in to my Merrill+ rewards account, the error message “You do not have an eligible rewards credit card account to access this website” is displayed. However, my Merrill+ Visa Signature card has a rewards balance of 53,159 points, which have a cash value of $531.59. This closure appears to have been a targeted action initiated by Bank of America to prevent my redemption of these reward points, because my Cash Rewards and Better Balance credit cards, which have no accumulated rewards, remain open.

I believe these actions by Bank of America are unlawful. I am writing to demand payment of the $150.00 savings promotional offer and the cash value of my 53,159 Merrill+ reward points, which is a total of $681.59. You may send me a check to my address on file (also listed at the top of this letter), or deposit the owed amounts to my Bank of America deposit accounts prior to September 6, 2017.

If Bank of America will not comply, I am prepared to litigate. My initial actions will be to file complaints against Bank of America to the Federal Reserve, Consumer Financial Protection Bureau, and Attorney General of Florida. Subsequently, I will sue Bank of America in Volusia County, FL civil court. In the past, I have litigated against, Inc. (see RICHARD THRIPP V. JEFFREY P BEZOS, ETC., Case # 2016 30054 COCI), which had favorable results.

Richard X. Thripp


As someone who is acutely financially literate, as a customer I am frequently a losing proposition for corporations. I don’t pay any interest on my credit cards. In fact, I have been known even to take advantage of 0.00% APR offers on credit cards while parking the money in a CD or stock market index fund. When I opened my BankAmericard Cash Rewards credit card, I received the largest bonus they ever offered, which was $440 (including 10% customer bonus). Every quarter, I have received $30 from my Better Balance card like clockwork, simply by charging and paying my Google Drive $1.99 storage fee to it.

While I typically cash out rewards as quickly as possible in case of situations like this, Merrill+ points are unusual in that they can be worth much more for certain travel redemptions than when redeemed for cash. Therefore, I was saving them for potential future travel.

While Bank of America and other giant corporations such as, Inc. are usually successful in bullying and defrauding customers who are costly or otherwise unfavorable, for an increasing number of Americans, the jig is up. We know how to fight back. We can search the web to see what others have done in response to your unlawful actions. Like Amazon, who hides behind their Terms of Use to claim they can ban customers and steal their gift card balances, we know these “terms” do not stand up in courts of law. We know they are unlawful, preposterous, and not consensual. To say that a customer agrees to “binding arbitration” by choice is utterly ludicrous. Even a child can determine that a $37.00 overdraft fee for a cup of coffee is usury.

Richard Thripp fights back. His platform is Hundreds of visitors per month come here via Google Search to read how I brought to heel. I have responded to dozens of pleas for advice from customers defrauded by Amazon, and tens of thousands have heard my story. The game is on, Bank of America. You just banned the wrong customer. Although you may have averted paying out $681.59, I will repay it a thousandfold.

If you have been defrauded by Bank of America, contact me and I may publish your story.

11 thoughts on “Demand Letter to Bank of America and Commentary

  1. I revoked my ACH automatic payment with a BOFA rep in September and they still removed 870$ from my account. I asked them to refund this error charge that was not authorized and they only refunded 50$ lol will speak with them again today, otherwise demand letter and can I do small claims?

    1. Unlikely as the revoking of authorization for an ACH payment was non-binding on them and the $870 was still for a debt. Who was the $870 sent to? Can you go after them? If this is about the overdraft fees that resulted from the debit, then you have a better case but not worth it to go to small claims if you haven’t tried complaining a lot and threatening BofA with small claims. Fill out the paperwork for a small claims lawsuit first and send it to them saying you will file if they do not respond… that seems to work well in my experience.

  2. Please help!
    I need to sue Bank of America.
    I live in California and I must sue in small claims for customer service having charged off my account with negative balance and reporting me to chexsystem.
    So frustrated–I Don;t know where to have them served so that my case will not be dismissed.

  3. Pingback: Capital One 360 Money Market OFFER500 $500 Incentive Bait-and-Switch | Richard Thripp's Website

  4. Thank you! I used your demand letter as a guide to write my own to Bank of America. I wish I had an email address for Bank of America Legal Dept, so I could email my Demand Letter to them. I don’t have a printer. You would be amazed at the stupidity of what they did to me.

    1. You’re welcome and good luck! I can print/send it for you. I couldn’t find a good email address for them either.

      I’ve read a lot of interesting stories since my 2017 banishment by Bank of America. Even customers who have large Merrill Lynch brokerage accounts are not immune.

  5. Bravo! Possibly have been defrauded numerous times but would not know it since unfortunately am not financially literate but hopefully that will change thanks to your site!

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