Heads Up! - Bank Of America next Bank to Fall ?!?!

Pithiny · 10-31-2008, 12:31 AM

This is a first hand report by a long term Bank Of America customer.

So, I have been banking with BOA for over 6 years. Always deposit my paycheck with no problems. Yesterday I went through the drive-through and was informed that they were going to put a 2 day hold on my payroll check. Now, as I sat there, I got madder and madder. When the nice teller asked me if there was anything else she could help me with, I said HECK YES, I DO NOT WANT A 2 DAY HOLD ON MY PAYROLL.

She said it was per her "guidelines" and she would ask her supervisor. I told her I would meet her inside.

Once inside, they were expecting me, pointed me to the Merchant Teller off to the side where I was told that my average daily balance is not high enough to get access to my funds the same day. I told her a NEWS FLASH, that perhaps the REASON I was not leaving my money IN A BANK has to do with BANKS GOING BANKRUPT, not because I didn't have money. I emptied my wallet, showed her a several hundred dollars and remarked that I felt it was safer in my wallet then in their bank. I asked if BOA is going to be the NEXT bank to go bankrupt. Security rushed over, asked me to keep my voice down. I was pi$$ed as heck by this time and said "I BET YOU WANT ME TO BE QUIET." I was told if I wanted my money immediately, I could go across the street and cash the check on the bank it was drawn on. I explained I am a BOA customer, not a WaMu customer, and I don't want to pay the $5.00 non-customer fee to cash my check there. I also asked WHY NOW, if BOA is not "having problems" -- since I have been depositing my payroll for years without any hint of a 2 Day HOLD---explain to me why you need to HOLD ON TO MY MONEY FOR 2 DAYS, when the bank is right across the street for Gawds sake, VERIFY THE FUNDS if you want, but I am not leaving this bank with a 2 day hold on a check that is drawn on a bank ACROSS THE STREET. I offered my phone for them to verify funds, when they declined, I offered to walk over there and get a note from them on letterhead.

Security replied the Bank is having problems. THIS really set me off. I said SO BOA IS HAVING PROBELMS and NEEDS MY MEASLEY $2600.00 for 2 days--I change my mind, I want to close my account.

I was then shuffled around a corner and talked to really nice... Security "explained" they were having NSF problems and needed to hold the check, but since I was a long time customer, they would check my banking history and see if it really is a payroll check and confirm I deposit it every month, and remove the 2 day hold.

For now, I did not close my account. But mark my words, Bank Of America fought HARD to keep my money for 2 days. I think they are in deep DooDoo.

10-31-2008, 12:31 AM	#1
Pithiny Project Avalon Researcher Join Date: Sep 2008 Location: Lynnwood, WA Posts: 101	Heads Up! - Bank Of America next Bank to Fall ?!?! This is a first hand report by a long term Bank Of America customer. So, I have been banking with BOA for over 6 years. Always deposit my paycheck with no problems. Yesterday I went through the drive-through and was informed that they were going to put a 2 day hold on my payroll check. Now, as I sat there, I got madder and madder. When the nice teller asked me if there was anything else she could help me with, I said HECK YES, I DO NOT WANT A 2 DAY HOLD ON MY PAYROLL. She said it was per her "guidelines" and she would ask her supervisor. I told her I would meet her inside. Once inside, they were expecting me, pointed me to the Merchant Teller off to the side where I was told that my average daily balance is not high enough to get access to my funds the same day. I told her a NEWS FLASH, that perhaps the REASON I was not leaving my money IN A BANK has to do with BANKS GOING BANKRUPT, not because I didn't have money. I emptied my wallet, showed her a several hundred dollars and remarked that I felt it was safer in my wallet then in their bank. I asked if BOA is going to be the NEXT bank to go bankrupt. Security rushed over, asked me to keep my voice down. I was pi$$ed as heck by this time and said "I BET YOU WANT ME TO BE QUIET." I was told if I wanted my money immediately, I could go across the street and cash the check on the bank it was drawn on. I explained I am a BOA customer, not a WaMu customer, and I don't want to pay the $5.00 non-customer fee to cash my check there. I also asked WHY NOW, if BOA is not "having problems" -- since I have been depositing my payroll for years without any hint of a 2 Day HOLD---explain to me why you need to HOLD ON TO MY MONEY FOR 2 DAYS, when the bank is right across the street for Gawds sake, VERIFY THE FUNDS if you want, but I am not leaving this bank with a 2 day hold on a check that is drawn on a bank ACROSS THE STREET. I offered my phone for them to verify funds, when they declined, I offered to walk over there and get a note from them on letterhead. Security replied the Bank is having problems. THIS really set me off. I said SO BOA IS HAVING PROBELMS and NEEDS MY MEASLEY $2600.00 for 2 days--I change my mind, I want to close my account. I was then shuffled around a corner and talked to really nice... Security "explained" they were having NSF problems and needed to hold the check, but since I was a long time customer, they would check my banking history and see if it really is a payroll check and confirm I deposit it every month, and remove the 2 day hold. For now, I did not close my account. But mark my words, Bank Of America fought HARD to keep my money for 2 days. I think they are in deep DooDoo.