scottstef

hey guys i have a new one for you.

did some work for a guy at the end of july. he logged onto bank of america's website and had them send me the check (btw- boa uses a third party to send checks, so check is actually written on a jp morgan chase account despite the fact that he uses bank of america). Check took 9 days to get to me. check gets accidentally torn. i gave the guy a heads up notice. i deposit the check on august 4. bank of america (my branch accepts check). Yeah- i got paid! anyway, customer goes to boa website and complains that the check was torn, 2 days later they send a response that they will be issuing a new check. i though the new check was going to boa for them to fully process. NOPE! they stopped payment on my check! i looked into my account and they yanked the money out of my account on aug 10. Youch- i used the funds to pay bills. Now i got a $300 negative balance- first time in MANY MANY years. i get the ne wcheck from boa thru jp morgan friday night. i go to boa and bitch about the fees, and deposit the new check to get the balance positive. boa, tells me they now have to put a hold on my checks until they clear. They now say it won't clear until august 21.

The worst part is the several grand they are holding out on me is killing me for the rest of the work i have to do. i work with a VERY select clientele, usually doing jobs that are less than 2K and rarely collect a deposit.

banks! After i left boa yesterday throwing a fit, i went to every bank within 3 miles to see what they had to offer my business. as soon as this clears, i am changing banks.

ron schenker

I feel for you, Scott
Banks, insurance companies, and oil companies, all make me wanna puke

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cbutcher

Scott

This is SOP for BoA, they use JP Morgan because a BoA check can not have a hold placed on it at another BoA branch. The time they gave you is beyond FDIC a regulation, contact the manager and ask them to review.

The responsibility for payment is your customers, inform them of their banks errors and that they should be responsible for any damages or charges. I did this once with Dean Witter the stock broker, and like your customer he had a lot more clout with BoA then I did.

This is business and let your customer know they have a problem, and to call their bank.

Good luck
Craig

reveivl

and when you've done that, glue the doors on the bank shut. It doesn't help but it takes some of the stress off, Rich.

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Cole

Thats why I hate BOA!

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Scott Young

i hate banks and insurance companies. they create a mess and then come out smelling like a rose leaving everyone else with the mess.

lxdollarsxl

Wonder if my story about banks can top yours:

I was sent a cheque from my pension fund in England for 3000 pounds, which i took to my bank here in the states. After enquiring how long to clear and being told 11 days and given a deposit slip and paper to that effect i thought everything was rosy. After 14 days i checked to make sure to was cleared only to find no trace. After a lot of questions at my bank i was informed they sent it to Compass Bank in St louis, who sent it to BOA in Atlanta, who sent it to BOA in NY, who sent it to Bank of England, who sent it to National Westminster in London, After following the trail and being told at each stage they coulnt give me any information as i wasnt first party to the cheque that honour goes to my bank, i was informed it would take another 3 days to wire back the money to my bank in the US, It actually took a further 5 weeks for it to arrive and each bank took out bank charges for the onward transmission. At the end of it all it cost me $600 out of the $5000 that was mine in the first place.

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Tscarborough

My wife was allowed?! to overdraw our savings from a teller at the main branch (and we were charged fees for the savings "overdraft"). How the F does that happen? They finally made good, but it took a lawyer to make it right.

mdshunk

They probably didn't check your account balance. Sometimes I go in to take money out of my own account with a check I make out to myself, sometimes big money, and about half the time they don't even peck anything on the computer. I'm in and out several times a week, so they know me a little, but still... sheesh.

Tscarborough

They told her the balance from the wrong account.

reveivl

When I moved here from England I had some money that I had earned outside british territorial waters, held in an account in the Guernsey Islands (tax haven for Brits). I had the money sent here but it got 'lost' in transit, for over three weeks, in this time the pound collapsed in value and I wound up losing big time. Never did get a straight answer on where the money was all that time and who made the money that I lost. Guess I wound up paying tax after all.

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dougchips

One of my guys goes to our bank and desposits his payroll check in his account- then asks for a cash withdrawl--they take it out of my account. He gets home and notices that his (actually my) account balance is about 15k larger than what he expected. The bank corrected the error without even calling me.

coinggrazy

I ve had similar problems. When I have needed money for materials the banks policy is to sit on checks for three days on local checks and up to ten on out of state checks (effin snowbirds) lol. When I am in the bind for expenses. Ive circumvented the waiting period by using a check cashing place who charges 3%. Shop around though. The guy who turned me on to this method was getting nailed for 10% until I told him about other places. It sucks but at times its saved the job and I still wind up making money.

RobertCDF

I always take checks from my clients right to THIER bank the same day or next and they change it into a cahiers check for $5-$7. I then take it to my bank and I have funds available right away. I had a certain bank wanting to hold the cashiers check overnight before giving it to me. I told them to piss off and took the old check to my bank and explained the situation. They just put it in with no hold at all.

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TigerFan

How's this for replying to an old thread.

Major change these days - there are now 3 banks in my city, 2 large and 1 local, that no longer turn a check into cashiers funds unless you are a customer of their bank.

This is a bad and BS trend in banking.

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framerman

BOA is now saying they will up their ATM charges to 3.00 for non bank patrons. I can't stand those ****ers.

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RobertCDF

My bank refunds the fees charged by OTHER banks ATMs (up to $5 a month) BTW I only use an ATM maybe 1 time a month. I rarely use cash.

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joasis

Funny that this old thread popped up...last week, I got a check from a customer, and it bounced....the joy of having a personal banker in a still family owned bank is he is covering my account......all it took was a phone call.

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floorinstall

I hate BOA also. I used to be able to certified checks from the account Regions bank that I received from a good long time customer. The checks are usually large amount I always need the money right then. AMSouth bought them out and now, although they still go by Regions bank, they no longer give certified checks for none account holders. There explanation was AMSouth has never done it and their computer will not allow the transaction. But the best one is I take a certified check from BOA to BOA and they refuse to cash it because I do not have an account there. Then they ask me to open an account. I told them no thank you I did not want to do business with a bank that would give illegally aliens credit cards but would not cash their own certified check.

Celtic

I had the same thing happen.

Fork BOA.

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