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Bank of America / atm deposits of co-signed check

1 MD, United States Review updated:

Has bank of america made it difficult to deposit co-signed checks using an their atm? This policy and action by bofa is ridiculous.

Recently I ('a') deposited a $22, 000 check (From a securities company) , signed by the three persons listed on the front, into a bofa account via an atm. The check was returned to me.
The original check was made out to a, b, and c. A, b and c signed the check. A also wrote that the check should be deposited into an account (Number specified) in which a and b were owners.
After about a week I got a letter from bofa that they had removed the deposit from a & b account, and returned an enclosed "voucher" check to a because person c was not an owner on the deposit account, and an atm had been used instead of at the counter where person c should have been to confirm the deposit.
This means that bofa will not allow someone to deposit a check signed over to them by a third party.
Has anyone heard of this policy?
This could affect you if a tenant gets a government supplemental check and signs it over to you as part of a rent payment.

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  • Bo
      16th of Nov, 2010
    0 Votes

    They wouldn't even allow us to deposit a cosigned check into our account, in person at the counter, unless the person who the check was made out to, who had signed the back of the check first, was physically there in person at the counter when we were depositing it into the account.

    If you cosign a check and deposit it YOU are responsible for the check being good. BofA could put a hold on the check amount until the check clears. This is how life is supposed to work.

    Bank of America has just become arrogant and hard to deal with, their policies are ridiculous and in this case actually prevents their customers from being able to use their own accounts and make these deposits. (We went down the block and deposited the check into an account we have with a different bank. No problem)

  • Kh
      18th of Sep, 2010
    0 Votes

    They do NOT accept 3rd party checks. PERIOD. And thast is what this was. WTH deposits a 22 thousand dollar check in an ATM anyways? This SCREAMS of a scam...

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