Bank of America seems never to be satisfied unless they are taking advantage of their customers. Having been told that cash deposits made before 6:00 pm will be posted the same day, we have made certain to cash paychecks and follow their schedule.
Suddenly, yesterday, the same plan no longer worked. Today, online banking showed our checking account to have four transactions which had not cleared, even though the credit and the debits occurred on the same day. The debits showed as "posted" but the credit showed as "pending".
Fortunately, a merciful branch manager has agreed to return the overdraft charges, which would have totaled $136. He may catch some flack for that. We know of others who have. He revealed the secret that the cut-off time, even for cash deposits, is now 4:00. He also divulged that a deposit may be made into a savings account and then transferred online to checking before 8:30 pm and it will be credited that day. This is a HUGE SECRET at Bank of America.
They also have a new policy which waits to debit online bill payments until the money leaves the account. This may be days later and is very difficult to keep up with. I no longer use this feature and we plan to, very soon, move our accounts to another company - if we can find one which cares about its customers.
I agree with an earlier complainant that it may be time for another class action lawsuit for Bank of America.
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