Consumer complaint received 2021-07-14
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I am a lottery winner, on XX/XX/21 i received my first annuity check and was told by the bank manager that I could not cash the check, but deposit would take 1 business day and that none of the check would be available that day. This check is from the California treasurer for the california lottery. I chose not to deposit it and would take that one to a check cashing place to be able to have the money that day. I received my 2nd annuity check on XX/XX/21 and decided I would deposit this into my account and thought I would get the money the next day. Upon deposit of my check issued to me, into my bank account from the state of California, was told on the receipt that the check " may be returned and there would be a hold until XX/XX/21 '' and non of my money would be available until then. I then contacted bank of america customer svc to advise them that this goes against what i was told by the bank manager that day. I spoke with a rep named XXXX from florida who said typically they will clear the next day and since that would be a weekend day,. it should be available XX/XX/21 and if it was not I could call in and ask for a hold release. She specifically stated to me that they have an internal number they could call to check the validity of the check and release the hold. Which I thought at worst Monday i can ask for my money to be available. I called monday morning and the rep XXXX from georgia said that no such department exists and that she shouldnt have said that and said she could take a complaint. I spoke with a supervisor named XXXX ( no state given ) that no matter what my funds will not be available until XX/XX/21 at XXXX and the reason is they assume the check will be returned. Again, this is a state issued check. I asked how I could get my check back so I can go to another bank, open an account because of the lies that have been spewed to me over the last couple of business days. I was then told that they could cancel my check, inturn a fee would be applied to my account and then I would need to speak with the state to issue me a new check and she said " that would just take longer than just waiting for us to clear the check. '' I feel that I have been lied to and deceived to entrust my money with this bank. I was given no other help as how to ensure that there would be any type of repercussion for either the rep, or manager that gave me misleading information to just get me to deposit my check without telling me of future holds. I have XXXX of these checks coming to me and have received 2. I do not want to deal with this for the next 25 years and will likely close my account after the funds close, but would like to have Bank of america be reprimanded for being dishonest and withholding my funds issued by the state. I have had to wait already for 4 months to get a check, and now i have to wait even longer because of deceit.

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 explanation