Bank Of America Puts Checks In Front Of Debits For Maximum Overdraft Fees overdraft fees Fort Walton Beach Florida

I had forgotten to include this in my previous report. Bank of America tells me they will release holds on checks on certain days, then changes the date. We had a hold put on a check that they told us would be released on a certain day at midnight, so we wrote our landlord a check and told him the funds would be available the next day. He took it to the bank the next day, they wouldn't cash it.

We called the bank and they said they wouldn't be available until 5:00. They could not give us any reason why customer service gave us the wrong information. So we had to drive all the way to another city to find a bank open after 5:00 and just take the money out of the bank to give to the landlord so we wouldn't get a late rent fee. This was our first relationship with our landlord, and of course he was irritated with us.

Another time my account was in the positive and I deposited a $2000 check I received for my wedding. We were going to use the money for our honeymoon. They put a two-week hold on the check, so of course we had hardly any money for our honeymoon. They couldn't give me any information as to why there was such a long hold on the check. Well we finally received information that the check would be available at midnight one night, so we checked it the next day and it still hadn't cleared. It was a friday and there was a three-day weekend, so we called and they said it wouldn't be available till the following Tuesday.

Finally my dad (whose name was on the account, thank goodness) went up there and chewed them out and they told him that the check would be available at 5:00 that friday instead of the following tuesday. It is completely ridiculous for them to put a two-week hold on a check. I know it does not take them that long to verify funds are available in an account.

So now when I get a check I usually pay a 3 dollar fee to cash the check at Walmart and deposit it in the account so I don't get a hold. They are putting holds on $200 paychecks! Their reasoning is that it's just a "standard hold period" that is bull!