We just found out there was a bank robbery yesterday, only it was the bank that robbed us. This story is true and I feel I should share it with the media. I am so incensed.
October 7
Small businesses and individuals beware. Bank Of America is a dangerous bank to keep your money in. Their negligence can cost you dearly and may put you out of business one day. Bank Of America cost our company $23,500.00. The following is a true story that you won't believe.
For twenty years and through seven bank mergers, we have had the same bank account, which finally settled at Bank Of America, here in Ocala, Florida for the last seven years.
In February our company made a $23,500.00 sale to a substantial customer and deposited the check in our Bank Of America checking account. The funds were placed in our account several days later just like any one of the thousands of deposits we made over the years.
Sometime in April and Fourteen months after we made this deposit, we got a notice from the Bank Of America that $23,500.00 has been debited from our account because a check we had deposited was returned for insufficient funds. We went back through our deposits for the week and there were no deposits made over a few thousand dollars. We went back a month, then several months... Nothing. We were dumbfounded.
I called our Bank Of America branch manager, Scott Modesitt and told him that we did not make any deposits in the amount of $23,5000.00 and it must be a mistake. I asked him to go back through our recent deposit history and try to find any $23,500.00 deposits. I asked him to re-credit my account and he refused. He said Bank Of America's processing center was returning the check by mail and to call him when we received it.
We went through several days of extreme distress until we finally received a letter from Bank Of America. It did not contain an original check. It contained a photocopy of a partial check (1/3 of check was torn off). The barely legible photocopied check was dated February fourteen months earlier. I went down to my Bank Of America branch office and demanded that they return our funds. They looked at the photocopy and agreed that first of all, they should not debit an account without returning the original check and second of all, fourteen months was absurd. They credited our account.
Everything was fine and forgiven until the morning of October 7 when I learned that once again, Bank Of America debited our account $23,500.00. When I spoke with the manager this time, he said that the credit we received in April was a provisional credit and that now six months later and twenty months after the deposit, they are rescinding the credit. They claim that they lost the check and never got paid for it. So almost two years after I deposited the check, they feel that we have to pay for their negligence.
While I seek legal remedies for this insane and truly unbelievable act, I feel it is my duty to warn the public that Bank Of America is a very dangerous institution.
0 comments