Bank of America / atm deposits of co-signed check
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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