On January 31, my employers payroll company did not process our companies direct deposit and so all employees were issued live checks. I took my check and other checks I had to deposit to Bank of America and processed the checks through one of their new ATM machines where no envelope or deposits slips are required.
To my surprise on Friday February 1 I checked on-line my account was at zero balance, however, every e-pay I had set for the 1st to be paid was paid. On Saturday February 2nd, I received 7 alerts via e-mail letting me know that I had 7 insufficient funds for 7 items that were paid on Friday February 1st. When I checked on-line those insufficient fees did not reflect my account yet, however, I knew at that time, my payroll check had been placed on hold.
Today February 3rd, I contacted Bank of America customer service and was told that a hold was placed on my payroll check and the other checks I deposited and the funds will not be available until Monday February 4th. And that the fees will be posted to my account on that day. At this time, there is nothing that can be done. So who is responsible for the fees? Should BOA reconsider the fees or should the payroll company be responsible since they are the reason I had to deposit my payroll check to begin with??? I am livid.
I just believe Bank of America takes advantage. If the money is in the account despite the hold why would they charge fees. I don't get it!
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