Consumer complaint received 2021-01-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BEACON FINANCIAL CORPORATION
State: NY

Complaint narrative:
On XX/XX/2021 I made a deposit of 5 separate checks in the amounts of {$9300.00}, {$7000.00}, {$12000.00}, {$2600.00}, and {$3100.00} totaling {$35000.00}. I could not go into the branch so when the teller told me that there would be a hold on the funds, I explained to her that we have been down this road and if she could just talk to her manager, or if I could talk to the manager I think we could resolve this to everyones satisfaction. She said it was not an option, I could talk to the manager but this is Federal Regulations and they have no options. Okay I left as the line behind me was wrapping around the bank.

I called the next day, but it being Saturday I did not get a call back, and have not since. 

On Monday the XXXX those five checks cleared XXXX XXXX, yet even by Tuesday the funds were still held. 

By Wednesday not wanting to pay a large credit card interest bill I scheduled a payment for very late in the day. 

On Thursday Berkshire Bank returned the payment unpaid and charged me a fee for " bouncing '' a check. 

On Friday the funds were still not available, even though they had cleared the paying bank 5 days prior. Not being able to reach the bank by phone I sent an email to the website portal with my level of frustration. Today I gat a response that stated they had forwarded the message to the branch. 

This morning I went to the bank and asked for an appointment or if I could come and discuss this. I was told we will do this over the phone. The first women I talked to explained, once again that it was federal regulations and they have not control. I explained my history and a few of the details, primarily that if that is the case then you are in serious violation of those rules because for 11 years you have not applied them. That got me to XXXX, do not know his title. He again repeated the, " federal regulation '' and I again repeated that either they have been in breach of that or something just seriously changed. 

Here is the major frustrations : The deposited checks are all from the same bank, XXXX XXXX XXXX whose headquarters is about 15 minutes away. 

I have been making these deposits, in the some general amounts, from the same bank, into the same account, in the same time frames for 11 years at this branch, and into the same account number at a branch in Vermont for the prior 22 years. 

I have had previous conversation with whom I think was-is the branch manager there several times as to making sure we have this worked out.

Never in those 33 years have any of these checks, drawn on only two entities have ever been returned. In fact I am not sure if I have ever bounced a check or deposited any check that has bounced. In that amount of time it must have but I can't remember it. 

So, it is now Tuesday, the XXXX, 11days after the deposit, and 8 days after the checks cleared the paying bank and the funds have not been credited to my account. 

My most major complaint is that in every case I was told these are federal regulation 's not the banks, and that is just not true. It took about 20 minutes of research between the federal reserve and your entity to establish that the Federal Government role is simply to establish how long they can hold funds, not how short they can ( past a day or two ). Which would seem pretty obvious to me as they have clearly been allowing me access to my funds in a timely manor for over 30 years. 

If my history is in any way disputed I can document all of it. I don't think the bank will dispute my history. Other wise I don't want to send you years of bank records documenting my deposit history.

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