As a small local business I decided to stop my internet banking and use a local bank. I opened a personal and business account. On 6/13/06 I deposited an amount of $5000 consisting of small personal checks from customers (all local) and some cash.
They NEVER advised me that they hold all checks for 9 business days during the 1st month of your account!!! It is now June 23rd and no funds have been released!!! 10 Calendar days!
I have supplier checks bouncing everywhere, and am unable to fullfill my payroll. Additionally there are already a few hundred dollars in bounced check fees.
When I called the branch I was told that I "shouldve read the phamplet"
I am from Holland and my English reading skills are not too good, HOWEVER, I do know what "hold your checks for 9 days" means, and they never said it. They say "its legal because we gave it to you in writing"
They gave me a stack of papers, but they should HAVE TO TELL YOU VERBALLY what their policies are.
I can only try to ruin their reputation as they have done to mine...
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