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Bank Of America Account Holds?

 
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Old 05-14-2019, 03:52 PM   #1
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Bank Of America Account Holds?


Wondering if this is a BOA issue or a me issue.

I've never had a hold put on a check, prior to today. Today, I had holds put on two checks. One in my personal account, one in my business account. Both Bank of America.

What's the story? Anybody else get this recently?
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Old 05-14-2019, 03:55 PM   #2
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Re: Bank Of America Account Holds?


IRS maybe?

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Old 05-14-2019, 03:57 PM   #3
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Re: Bank Of America Account Holds?


Doubt it. They cut me a check months ago.
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Old 05-14-2019, 04:18 PM   #4
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Re: Bank Of America Account Holds?


Did ya do a couple transactions very close together timewise, or cancel a transaction?
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Old 05-14-2019, 04:21 PM   #5
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Re: Bank Of America Account Holds?


I don't know. Must be a me issue if nobody else is chiming in.

I'll give them a call tomorrow. Or maybe I'll just sit here and wait until the 23rd when the hold comes off. Whatever.
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Old 05-14-2019, 07:26 PM   #6
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Re: Bank Of America Account Holds?


Boa=pia
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Old 05-14-2019, 07:39 PM   #7
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Re: Bank Of America Account Holds?


chase is no better
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Old 05-14-2019, 07:39 PM   #8
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Re: Bank Of America Account Holds?


Quote:
Originally Posted by Easy Gibson View Post
Wondering if this is a BOA issue or a me issue.

I've never had a hold put on a check, prior to today. Today, I had holds put on two checks. One in my personal account, one in my business account. Both Bank of America.

What's the story? Anybody else get this recently?
I had several in 2010 that were held.

I was getting checks from a 501c3 I was doing business with. I had gotten many checks from them before but BOA decided to change their rules and put holds on the money without telling me. I left there to a smaller bank and haven't looked back since.

It's probably the person issuing the checks. If they have anything other than a normal business or an established relationship with BOA then they would hold anything over 5k. Pissed me off to no end.
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Old 05-14-2019, 07:46 PM   #9
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Re: Bank Of America Account Holds?


Yep I NEVER GET A HOLD ON CHECKS. JUST HAD TWO CALENDAR WEEKS! Chase blamed it on BOA. They are trying to get you to open an account with them. They suck!!!!


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Old 05-14-2019, 07:47 PM   #10
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Re: Bank Of America Account Holds?


I did a quick search on it and apparently some banks are worse than others and yours is one of them.

From my findings, they do it because:

A) They can

B) If they have your money for whatever amount of time, it makes them X amount of $.
That money could be in your account, making you money...not in interest but in...your money to spend as you see fit.

I've never had one held.

I'd talk to the bank and change banks if they didn't change (for me).

I deposit most of mine through the telephone. If I make the deposit before 3PM, the money shows up in my account the next day, holidays and weekends excluded.
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Old 05-14-2019, 07:51 PM   #11
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Re: Bank Of America Account Holds?


Been with chase for 16 years and never had a check bounce. Not to mention I have the funds to cover one if it does. Nope, still the hold.


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Old 05-14-2019, 07:54 PM   #12
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Re: Bank Of America Account Holds?


This is fairly a new thing.


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Old 05-14-2019, 07:54 PM   #13
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Re: Bank Of America Account Holds?


Mike is making me think maybe it isn't just me.

It's completely improbable that I'd randomly get two in one day that were in issue. Both are from people I've gotten checks from before. Both are from other major banks(Wells Fargo and Chase).

I don't know why, but I blame the Chinese. I'll hash this theory out before morning...
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Old 05-14-2019, 08:07 PM   #14
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Re: Bank Of America Account Holds?


A check for a goodly amount say $60,000 seems somewhat reasonable. I've had holds on amounts as low as $8000.

Depends on the timing and the bank. My one account will just about cash ant check any time. The other account will hold if I don't have matching funds.

When it comes to money....they make the rules...you don't. Unless you have a couple mil on deposit.........then they'll kiss your ass
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Old 05-14-2019, 08:07 PM   #15
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Re: Bank Of America Account Holds?


I get checks from both of those banks and have never had a problem.
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Old 05-14-2019, 08:11 PM   #16
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Re: Bank Of America Account Holds?


Quote:
Originally Posted by Easy Gibson View Post
Mike is making me think maybe it isn't just me.

It's completely improbable that I'd randomly get two in one day that were in issue. Both are from people I've gotten checks from before. Both are from other major banks(Wells Fargo and Chase).

I don't know why, but I blame the Chinese. I'll hash this theory out before morning...


Had two 9k checks held. This wasn't the norm. My bank knows me well. I thought it was because I deposited them in the ATM. But that's how I always deposit them.


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Old 05-14-2019, 08:13 PM   #17
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Re: Bank Of America Account Holds?


Ditto.

First check was $500. Like, why the **** you holding that? You don't have $500? What kind of broke ass bank are you?
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Old 05-14-2019, 08:21 PM   #18
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Re: Bank Of America Account Holds?


I actually went into my bank and had a meeting with my banker about it. Something I don't do often. He said next time come in and come to me.

Next time meaning a BOA check.

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Old 05-14-2019, 08:37 PM   #19
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Re: Bank Of America Account Holds?


Ask them when they actually got paid at the bank versus when they put it into your account...

Doesn't really matter... "it's bank policy" covers a lot of tracks...
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Old 05-14-2019, 09:02 PM   #20
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Re: Bank Of America Account Holds?


Quote:
Originally Posted by KAP View Post
Ask them when they actually got paid at the bank versus when they put it into your account...



Doesn't really matter... "it's bank policy" covers a lot of tracks...


I'm pretty much positive it was BOA'S deal. I got a letter in the mail as well.


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