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Huntington Bank / dishonesty over a fairly large amount of money that I deposited you held the funds and then lied about the reason why!

Holly, MI, United States Review updated:

My name is Tim Backs and my wife and I own a trucking company and have an account in one of the First Merit banks that you just required located in Holly Michigan. Last week I deposited a fairly large amount of money into our business account. We were told that we would receive credit for the check on a prorated schedule and it would take five business days to get credit for it all. This was OK to us because if we only received ten to twenty percent of it we would be just fine. After all the deposit was just shy of $100, 000. Yesterday one of our trucks broke down and we needed the funds to fix it. Nope after several business days we had not gotten even ten percent of the full amount. So my wife called you guys and the guy at the Holly branch told her that the problem wasn't with you guys it was with the bank that the check was written on. So I called my attorney and had him sort this out. Sort it out is what he did. I had an email sent to me by the bank that you were claiming had red flagged the transaction. The email was a copy of the electronic transfer of funds from their bank into yours dated the same day that the deposit was made. Your bank had the money minutes after I deposited it into our account. Instead of being honest about it your people lied about and you have had the use of our money for the past week while we have had a truck broke down with no way of paying to get it fixed !! The real funny part about it I received a call from your investment advisor wanting me to let you invest the money for me. You cant be honest about where our funds are do you think I'm going to let you any where near my investments !!!

Ti
Feb 23, 2017
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Comments

  •   Feb 23, 2017

    It is within the law for a bank to hold funds on a deposited check. Your bank will do so if you have had problems, if the writing bank has had issues, or if you deposit amounts that are unusual to your normal banking activity.

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  • Cl
      Apr 01, 2017

    @Wine Is Good There are laws that allow a bank to hold your money however the bank better be very careful before accusing a person of being a money launderer. One or two or three unusual transaction doesn't do it, there are specific guidelines that are used to determine suspicious activity and the people working in the branch may take the training but they are far from qualified to make a judgement call like that on their own. Unless there are very clear signs of possible criminal activity it none of the banks business if i want to withdraw 10 or 20K in cash.

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  •   Apr 02, 2017

    @Classaction8725 Respectfully, you are wrong, as the bank has proven since they have, in fact, gauged your transactions as suspicious, hence the reason you are here #####ing about it. They do not have to have proof, they are not police. All they need is suspicion, which is well within their right as a business who is required to follow the money laundering law.

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  • Cl
      Apr 01, 2017

    Im not at all surprised to hear this, who knows for sure what the problem was because you can't speak with anyone who has any authority all you get are those customer non service people or a supervisor who is no better. The issue besides incompetence on the part of the bank is if your truck was out of service due to the banks incompetence and you can prove lost income than you would seem to have a lawsuit against the bank. I had 3 seperate issues with Huntington bank and am taking legal action. Iv done months of research about banks and it seems that banks are doing to people as they please because people post complaints or file complaints with regulatory agencies who do nothing. The only way to straighten out these crooks is rather than them taking our money or holding our money is to take their money but in order to do that people need to build a case by accumulating documentation, getting everything in writing, gathering evidence. Banks by nature our insolvent because they only need to keep 10% reserves so if a bank says they have 60 billion in assets they dont they have 6 billion and a bunch of loans that have no guarantees. Bombard them with lawsuits and they will change their way faster than lightning because they cant afford the litigation and a better bank will step in and purchase them for pennies on the dollar. Banks act tough and control others (their customers) just like a bully but punch them in the face a few times and they will back off because they have no choice. I hope you moved your money to another bank.

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