My complaint is against Bank of America Merchant Account Services. I received a call from their representative ( XXXX ) this afternoon regarding my newly established merchant account. XXXX called from XXXX. I was advised that my merchant account was flagged because of the type of services that I/my business offer. XXXX advised me that I am an unqualified/high risk business and that my account is under review. 
I advised XXXX that I was very concerned about his call because of the long standing relationship that I have with Bank of America and had with my former merchant provider. I have banked with Bank of America for XXXX years and was often solicited by numerous representatives both at my office and in their branches. So I did n't understand how Bank of America could first offer me a merchant account, approve the account, send the equipment, allow my business to process credit and debit card fees only to then contact me less than XXXX days later to inform me that my merchant account with them could potentially be closed. 
During the completion of the merchant account application with the Bank of America representative on XXXX XXXX 2015 I detailed my long standing relationship, my account history and revisited all the services that were offered to my business over the years as well as the visits to my office that Bank of America representatives made to offer my staff checking account services and other additional services to me. 
After terminating my eight year relationship with another merchant services provider to accept the offer from Bank of America, it is unclear to me how Bank of America could have approved me for a XXXX year lease of the equipment and the account only to be told XXXX days afterwards that my account could potentially be terminated for no wrongdoing on my part. 
I am confused as to why Bank of America marketed services/products to me with intimate knowledge of my personal accounts, business accounts and business model ; then processed and completed a XXXX hour interview/application ; for the application to take the bank more than XXXX days to process ( time for which I am sure they used to complete their due diligence and to qualify me and my business ) ; then to approve me but to call less than XXXX days later and tell me that my business is now high risk/unqualified! 
The termination of my merchant account with Bank of America would cause an enormous financial hardship on my small business and should not be something that I should have to endure. Furthermore the processing of my application has impacted my personal credit profile and could affect my ability to acquire a new merchant account in the future. 
With that said I hope to keep this Bank of America merchant account to circumvent any unnecessary financial hardship to my life and to my business. 
