Deposits and withdrawals

Posted on Posted in Bank, Complaints


I deposited a contract payroll check on XXXX/XXXX/2016 at a local Bank of America branch. The teller indicated that a hold would be placed on the check since my account was overdrawn due to a bank error that I filed in another CPFB complaint. More on that later. The funds would be available on XXXX/XXXX/2016 after XXXX. according to the teller and the deposit slip I received. The next day I received a call regarding my other CPFB complaint. I returned the call and left a message. Today on XXXX/XXXX/16 the CPFB complaint was resolved and the fees I was assessed for a debit charges that were label ‘recurring ‘ when in reality they were not were reversed. I was happy with that outcome. The bank fixed the error. Subsequently, I went to check on the status of my funds because I was told they would be available today and so did the deposit slip I received. I chatted with an online customer service representative. She indicated that funds would be placed on an extended hold because the payroll check from a XXXX was likely to bounce. I asked what specific information that the bank received to put an extended hold on the check and she told me that it was automated and she could n’t do anything about it. Additionally, I asked if I could get the check back and she said because it was in processing that I could not. I asked my employer if the check had a possibility to return and they said that there was no way that the check would bounce. The check is basically coming from a quasi-governmental agency. Additionally, the extended hold will last until XXXX. Bank of America said they only process information during business days. Additionally, the bank will not let any of the funds released because I am in the negative, which as was already stated was their fault and fees were reversed. I talked with XXXX different representatives on the phone and online and the bank could not give me a clear answer as to why suddenly the check was placed on an extended hold. The bank did not notify me of this extended hold. Thankfully, I chatted online and called customer service. I have reason to believe that Bank of America retaliated against me for filing a report with the CPFB by placing an additional hold on payroll funds. Moreover, this caused great harm to my financial situation because I ca n’t pay my rent and I ca n’t even buy groceries. There should be a mechanism where I can receive the supposedly ” bad ” check so that I can cash it at XXXX or another place. Bank of America is basically holding my funds hostage in retaliation for filing a valid complaint against the labeling of XXXX charges as ‘recurring ‘ charges.

Leave a Reply