The complaint has been investigated and
resolved to the customer's satisfaction
Bank of Americadeposit hold

I have been a customer with since 1982 (at that time North Carolina National Bank) I deposited $855.00 into my business account on 09/17/09, the next day I checked my online banking and my account was overdrawn $310.00. I immediately called customer service, as I viewed my account there was a debit hold for $420.00. This amount did not match any deposited check nor had I authorized any charge to my account. I had several things to post thru the account on 09/17, but the deposit covered those items, but not when B of A put the hold on the account. When I inquired they told me they could not see what the debit was until it posted thru. Today 09/23 after 6 phone calls I fianally learned that they debiting against my deposit. So it looks like I owe the bank money. The problem is that their hold has caused legitimate debits to bounce. The have charged me 6 overdraft fees at $35.00 each. They said that it really was not my money because they had not collected it yet. Well this is a LIE!!! I contacted all the check issurers and had them check to see if they had cleared their banks. Of course all 4 checks I deposited had cleared their banks. One cleared on 09/18! When I told the B of A customer no service rep this she stated, "Just because the item has cleared their bank does not mean that we have the money, sometimes it can take 10 business days for us to collect the funds. We (B of A) can hold your funds up to 45 days." How stupid does this sound. I have filed a complaint and will close this account when resolved. I changed banks today! I guess loyalty means nothing!

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