I deposited my husband's computer generated payroll check via the ATM before noon on June 12. My balance was in the positive and there were no outstanding items pending against my account. I paid our bills and used my debit card to withdraw funds on the deposited item.
Monitoring my account activity online, I was horrified to see that BOA had returned our rent check on June 15, as well as many other debits and check items. I phoned customer service and was told that, because my husband was not on my account, he had to be present to show identification upon depositing of the check
The endorsement was legally correct (i.E., "Pay to the order of [my name]" Signed {His signature}. I signed below with my account number and processed it through the ATM.
The check was to be mailed back to me, which I received on June 17. I had deposited checks made out to him before and there was never any problems, so a precedent had been set.
This requirement is not noted anywhere in the Deposit Disclosure and Agreements nor in the Schedule of Fees. A paragraph simply states that BOA has the right to refuse any deposit or cash any check for any reason. "The check will be returned the following business day."
I don't typically read bank disclosures but read this booklet all of the way through. It is interesting to note that the very first page indicates that "Our relationship with you is that of debtor and creditor. This Agreement and the deposit relationship do not create a fiduciary, quasi-fiduciary or special relationship between us."
I'm not sure what "quasi-fiduciary" is, but now realize that I can't judge a bank by its marketing department. (Patriotic colors or implications of working together to achieve a mutually successful relationship, yada, yada.) This statement reflects the true essence of BOA's mission statement.
Although they have refused thus far, I will get my $1200.00 in fees back somehow, some way, then try to get all of my other accounts (lights, water, gas, credit cards) back on track.
Unbelievable.
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