Ok heres my story, i sold a treadmill on ebay and recieved a money order for it. I went to bank of america to cash it and they cashed it didnt tell me there would bea hold or a possibility it could b fake. I was under the understanding you payed cash for a money order so i was completly unaware it could be fake.
So i shipped the treadmill and 3 days later i went to withdraw some money from the money order i deposited and they said the funds were on hold however they had cashed one of the money orders of 950 so i decided id wait for it to clear. But i came home did some research and found out that there was fake money orders going around.
So i have my own account in only my name wich is where i cashed and deposited the money order from but i also had an account with my mother i had opened a while ago just never used it she did so we went up to the bank and talked to an account manager to have my name taken off her account and i specifficly asked if once i did this could they take the funds from her account and transfer them to mine if the money order didnt clear and she said no they couldnt go back and do that,
Well sure enough my mom goes to the bank to find out they withdrew 950 dollars from her account to cover my overdraft and they closed out my account so she talked to the same lady she talked to before and she said it takes 10 buisness days to have my name takn off the account.
So first off i think the bank should either tell you the money order is gunna be on hold or fake or hold the funds until it clears but my thing is i dont see how they can trasnfer funds even though i took my name off but her name was never on my account so i dnt think its fair to take money from one acccount to another without authorization or both names being on the account someone please help
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