Consumer complaint received 2023-09-20
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I deposited my paycheck via mobile deposit with Bank of America on XX/XX/XXXX in the amount of {$900.00}. This is the same check I deposit weekly, always on Friday morning, by the same issuing bank ( XXXX XXXX Bank ), always in the same exact amount. The funds are always available to me the following day ( Saturday ). Bank of America placed a hold on the entirety of the funds that will not be removed until XX/XX/XXXX, which is 11 days after the deposit, despite the fact that XXXX XXXX Bank released the funds for the deposit on XX/XX/XXXX to Bank of America and the funds cleared with both banks on XX/XX/XXXX. I called BOA on Saturday XX/XX/XXXX when the funds initially did not appear in my account to inquire about the hold. I was informed that because it was a Saturday, there was nothing that could be done to remove the hold and if I had called on a business day, I could speak with someone to remove the hold, but that my funds would be released on Tuesday XX/XX/XXXX. I decided to wait until Tuesday. On Tuesday XX/XX/XXXX, I still did not have access to my funds so I called BOA again. They informed me that the check was going through a " verification process '' and the hold can not be removed until XX/XX/XXXX. I asked the deposit to be cancelled and they informed me they could not cancel the deposit. I asked to speak to a supervisor and the representative kept me on hold for over an hour as I waited for a supervisor. She claimed she was having issues transferring the call to the supervisor, but that the supervisor would call me directly within a few minutes. I received NO CALL from a Bank of America XXXX. I called back in a few hours and spoke to another representative who was immediately rude to me. I asked for a supervisor and she denied my request. I asked her if she could review the notes from the previous call so that I did not have to explain the situation again since I was on hold for over an hour waiting for a supervisor. She informed me that Bank of America does not take notes on their calls as they hope to resolve the issue on the customer 's first call. Eventually this woman transfers me to a supervisor. I speak to the supervisor and she informs me that the hold can not be removed, but that I can ask my employer to place a stop payment on the check and reissue it. I ask my employer to do this, and they agree, except when they go to place the stop payment, they see that the funds have already cleared with the issuing bank, which prevents them from being able to cancel the check. So we received confirmation from both banks that Bank of America has had verification of funds since XX/XX/XXXX and is negligently, unethically and illegally withholding funds for an additional 8 days despite having verification and access to said funds. I proceeded to talk with two representatives via online chat through BOA 's mobile banking website, both of whom provided me with the same copy and paste response of " glad to hear the funds have cleared the bank, the hold will be released on XX/XX/XXXX '' along with several rapid fire copy and paste paragraphs and the conversation abruptly ended before I could even read anything, never mind respond to these representatives, who are named XXXX and XXXX, both located in XXXX, NY. Bank of America at the very least acts unethically as one of the largest federal banking institutions in the country and should be held to a much higher standard. These practices are unacceptable.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief