Bank Of America / holding funds
here is the content of a letter I sent to customer service at B of A concerning a "hold" they have on check I deposited a week ago. This is a scam being run by B of A. What they do is withhold deposits for the full legal time they can withhold them to get the advantage of your money for a period of time. Meanwhile, you can't pay the bills. The spirit of the law is to protect from phony deposits from disreputable sources. I can only say that the source of this deposit is in better shape than BofA-and BofA knows it.
I would ask you to immediately release the rest of the funds from a deposit I made a week ago. The check was from a a major insurance company, as reputable a source as any. (if the source was suspect I would possibly understand). The only possible justification for holding back the money-which is causing us huge problems-is that Bank of America is stealing-holding the money hostage so they can use it for the full legal time they are allowed to do so. If done on a massive scale this could benefit the company, at the expense of the deposit holders.This is disgraceful behavior. I know you have stated you will release it Monday. Release it today.
More Bank Of America Complaints & Reviews
- Countrywide - Bank Of America/short Sale - Incompetent Department and Service 
- Bank Of America - b.o.a. closed my credit card account 
- Countrywide Home Loan - Bank Of America - fraud and misrepresentation, abuse of customers 
- Bank Of America - property claims 
- Bank Of America - claims department 
- Bank Of America Corporation - Cash Advance Transaction
- Bank Of America Corporation - Online fraud by money
- Bank Of America Corporation - mishandling of fraudulent online purchase claim
- BOA Property Claims - holding twia claim funds
- Bank Of America Corporation - checking