Consumer complaint received 2018-01-10
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: WA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Ive banked with Bank of America since 1989 when it was XXXX XXXX XXXX XXXX. 3 weeks ago, I had check fraud on my account which was negligence on Bank of America 's part. When you see the check that one of their tellers cashed, you 'll be surprised they cashed it. I had to open a new checking account with Bank of America because of it. Here 's where my complaint begins. My Husband has a separate account with XXXX XXXX that has both our names on it. For 6 years, every XX/XX/XXXX and XX/XX/XXXX of the month, he deposits between {$2700.00} to {$3200.00} into our joint Bank of America Account. This check has NEVER bounced. That account is in both of our names. For 6 years, those funds have always been available immediately - same day of deposit. On Friday XX/XX/XXXX, XXXX wrote a check as usual from our XXXX Account to our Bank of America Account and deposited this at the teller window at the XXXX XXXX branch in XXXX at XXXX pacific time on XX/XX/XXXX. At that time, the teller said there will be a hold because this is a new account. The hold was set up for XX/XX/XXXX. Our rent was due that day and we needed his check to pay that. First I called Bank of America at XXXX on XX/XX/XXXX and spoke to two people, both who said the hold would be released on the XX/XX/XXXX and that there was nothing they can do. I do n't have names, but I was told that all conversations are documented. I then went into the branch where I had opened up the new account, at XXXX XXXX XXXX with XXXX XXXX and asked her what is the deal with the hold. She said it was because it 's a new account. Frustrating because it 's not a new account, just a new number. Ca n't they transfer the longevity info? Anyway, She went online and released the hold and backed out an overdraft fee. She made a few phone calls for help first and they helped her do it. This was about XXXX - XXXX on XX/XX/XXXX. The next morning, the funds were available and I thought all was okay. I noted later that day, that another hold had been placed, but this hold had no release date and my local bank branch had already closed so I could n't go in. Yesterday, Monday XX/XX/XXXX, I went online and saw that I had a letter dated XX/XX/XXXX stating that the hold was extended until XX/XX/XXXX. I called the bank this morning XX/XX/XXXX - twice exactly. First one at XXXX - spoke to someone in New york and next one at XXXX and spoke to someone in Alabama and was told it was because XXXX XXXX did n't respond to the Federal Reserve right away on whether there are funds available and so they put an extended hold for " cause '' because they do n't believe that they will collect the funds from XXXX XXXX . What???? It was the weekend! They also told me today that YES they have the funds from XXXX, but that the hold is sticking until the XX/XX/XXXX no matter what and there is nothing they can do about it because XXXX XX/XX/XXXX could return the money at any time. IT 'S OUR ACCOUNT!!! This is not a 3rd party check for Pete 's sake. It 's OUR MONEY we are transferring to Bank of America as we have done for 6 years with no problems and no hold. I feel that Bank of America is holding our money for an unreasonable amount of time. Points of contention : -The hold is 9 business days. Remember, the deposit on XX/XX/XXXX was at XXXX. is 9 day hold even legal? Why would they do this to a long term client? 
-The hold was originally just until the XX/XX/XXXX. They extended this date without telling us. Sending us a letter via US Mail at XXXX on the XX/XX/XXXX without an email or call or text telling us they are going to hold our money hostage for another week is n't notice. They have put us in a financial whirlwind. The hold until the XX/XX/XXXX was  bad enough. BTW, we still do n't have the letter. It 's a miracle I found the correspondence online. I am paperless and my account had no alert on it and again, no text, no email like they normally do. 
-They did n't leave us {$200.00} bucks like I think they are suppose to. 
-They acknowledge receipt of the funds from XXXX XXXX as of XX/XX/XXXX, but wo n't release OUR money until the XX/XX/XXXX no matter what.. 
When I call, they just tell me there is nothing they can do. How can they hold someone 's money and get away with it?

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 non-monetary relief