My concern is Orchard Bank debits my bank account and then I have to call them to get the amount applied to my account. On the 23rd of April the bank received a check from me in the amount of $160 that they have not applied to my aaccount, as of May 7. The bank said that it may take 15 to 30 days to get this posted to my account, remember this is May 7 approximately 18 days later.
This is not the first time this has happened to me. It seems to me that the bank may be using customers funds to boost their bank balance and increase their earnings using customers money. If this were to be the case this would violate both federal and state banking laws. It most certainly would paint a better picture of the banks financial situation if this were to be the case.
Customers should be compensated for the payments that have not been posted to their accounts in a timely manner. Why should the bank be allowed to treat customers in this manner. This situation needs to investigated by the proper authorities.
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