Report: #112187

Complaint Review: Bank Of America - Ocala Florida

  • Submitted:
  • Updated:
  • Reported By: Ocala Florida
  • Bank Of America 35 SE 1st Avenue Ocala, Florida U.S.A.
  • Phone: 352-620-1220
  • Web:
  • Category: Banks

Bank Of America removed $23,500.00 from our account, won't return it. Ocala Florida

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We just found out there was a bank robbery yesterday, only it was the bank that robbed us. This story is true and I feel I should share it with the media. I am so incensed.

October 7, 2004

Small businesses and individuals beware. Bank Of America is a dangerous bank to keep your money in. Their negligence can cost you dearly and may put you out of business one day. Bank Of America cost our company $23,500.00. The following is a true story that you won't believe.

For twenty years and through seven bank mergers, we have had the same bank account, which finally settled at Bank Of America, here in Ocala, Florida for the last seven years.

In February of 2003 our company made a $23,500.00 sale to a substantial customer and deposited the check in our Bank Of America checking account. The funds were placed in our account several days later just like any one of the thousands of deposits we made over the years.

Sometime in April of 2004 and Fourteen months after we made this deposit, we got a notice from the Bank Of America that $23,500.00 has been debited from our account because a check we had deposited was returned for insufficient funds. We went back through our deposits for the week and there were no deposits made over a few thousand dollars. We went back a month, then several months...nothing. We were dumbfounded.

I called our Bank Of America branch manager, Scott Modesitt and told him that we did not make any deposits in the amount of $23,5000.00 and it must be a mistake. I asked him to go back through our recent deposit history and try to find any $23,500.00 deposits. I asked him to re-credit my account and he refused. He said Bank Of America's processing center was returning the check by mail and to call him when we received it.

We went through several days of extreme distress until we finally received a letter from Bank Of America. It did not contain an original check. It contained a photocopy of a partial check (1/3 of check was torn off). The barely legible photocopied check was dated February 2003, fourteen months earlier. I went down to my Bank Of America branch office and demanded that they return our funds. They looked at the photocopy and agreed that first of all, they should not debit an account without returning the original check and second of all, fourteen months was absurd. They credited our account.

Everything was fine and forgiven until the morning of October 7, 2004 when I learned that once again, Bank Of America debited our account $23,500.00. When I spoke with the manager this time, he said that the credit we received in April was a provisional credit and that now six months later and twenty months after the deposit, they are rescinding the credit. They claim that they lost the check and never got paid for it. So almost two years after I deposited the check, they feel that we have to pay for their negligence.

While I seek legal remedies for this insane and truly unbelievable act, I feel it is my duty to warn the public that Bank Of America is a very dangerous institution.

Ocala, Florida

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#1 Consumer Suggestion

You really want to fix this?

AUTHOR: Julz - (U.S.A.)

POSTED: Saturday, October 23, 2004
Obviously with a transaction for that amount of money, I am assuming you know where it came from. IE the orginator of the check payable to you. IF you know the orginator of the check, go to them and find out if the funds were debited from their account. If they were the bank could track that and tell the owner of the account where the payment went to. In turn, you could verify the check was cleared or not.

If you never received the money, then it was never debited from the orginator's account. If the funds were debited, have the bank track that payment or do an internal search for further details and figure out exactly what happened.

The greatest thing about banking, is that it always leaves a paper trail. You can have that fixed. You just have to know where to start.
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