Consumer complaint received 2024-05-24
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION (MN)

On XX/XX/24, I went into the Bank of America XXXX BofA ) branch, located at in XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXXXXXX, to deposit a {$5000.00} check. Before depositing it, I specifically asked the relationship banker, XXXX XXXX, when the funds would become available. The reason I asked before making the deposit was so that I could travel to my other financial institutions or the issuing bank of the check, if BofA was not going to release the funds in a timely manner. I had seen numerous complaints online about BofA holding customers ' funds for an unreasonable amount of time, so I specifically wanted to know the precise date and time when my funds would be released. XXXX confirmed that the funds would be available on XX/XX/24 at XXXX XXXX  and she provided a " notice of hold '' document confirming that the funds would be available on that date and time. The " notice of hold '' document is attached for reference. XXXX also stated that if the funds did not become available on that date, that I should come back and see her and she would help. 

On XX/XX/24, I received an email from BofA that my funds wouldn't become available until XX/XX/24, a full XXXX days after my deposit and XXXX days after their " notice of hold '' document stated they would become available. I went back to the branch to speak with XXXX and she told me that there was nothing she could do. She said that I either needed to make an appointment at a completely different branch or that I could call Customer Service. At this point, XXXX lied on XXXX different occasions, the first when she told me the check would clear on XX/XX/24 and the second when she told me she would help if it didn't clear on that date. 

As a result of my conversation with XXXX, I called BofA 's centralized customer service. They indicated that the deposit would not be available until XX/XX/24. Since I didn't trust that answer as it conflicted with the email that they sent me, I called a couple more times after that and each time, they confirmed that the funds would become available on XX/XX/24. Anticipating the release of funds the next day, I called one more time on XXXX. This time, the representative stated they could not see any date when the funds would become available. I then asked to speak with a manager and was transferred to XXXX ( employee ID # XXXX ). XXXX confirmed that the funds would not be available until XX/XX/24, ten days after the deposit was made. Despite informing him that the XXXX provided a date that was eight days sooner along with documentation to confirm that date, he would not release the hold. I also let him know that this was not a personal check that would pose any risk for the bank. It was a check that was issued by another bank and it had already cleared that other bank. Despite this information and the fact that I have been a customer with BofA for more than XXXX  years, XXXX refused to release the hold, despite acknowledging that BofA had made errors. I indicated that we would be contacting the CFPB to file a complaint, but he didn't seem to care whatsoever.