Bank of America
Deposited Check Held Despite Promise of Same-Day Clearing Before 8pm

Bank of America has been a growing headache. These results of this company has been poor customer service, arguing over fees that are not to be placed, and stating that if you deposit a check before 8pm it will clear on your account the same day.

Given the current financial predicament of most banks, many of them are losing money through their credit card services - either through the increase of fraud claims, or through the increasing delinquency rates. To still remain profitable within their consumer banking division, they are raising red flags in my book, by extending holding periods of checks, or saying your check is deposited in this ATM before 8pm it will be in your account the same night. For the last two months, I have had several issues with this firm, in excess of $300 dollars charged for overdraft fees because there was an error with their system... Eventually it was reversed but it took days to get it cleared.

Two days ago, I deposited my weekly check of $x dollars and expected to have it for the weekend. I have books to buy, errands to take care of, and long behold, the check was not cleared. I was given multiple excuses by the bank of america (it is waiting to be processed... It is a weekend... It is due to the size of the check... It is due to the atm...) Well, I have done this same check before and it has not been a problem until today. I have deposited at the same atm, and I have certain obligations to take care of. Well, then the representative said as a bank we reserve to put the bank on hold whenever we please.

At the end of the day, I realized three things about the companies. One: they are lying. Two: poor customer services. Three: they want to charge you fees. So if they put your checks on holds for 3-5 days you are more than likely to go over your limit (assuming you do not have credit card), therefore they win and we lose.

What a shame.

Company: Bank of America
Country: USA

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