Consumer complaint received 2025-01-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NJ

Complaint narrative:
On XX/XX/XXXX I deposited a check into my checking account on my mobile phone and was notified that a major portion of the deposit would have a hold placed on it until XXXX XXXX on XX/XX/XXXX. I contacted the bank via the mobile app and spoke with a representative ( XXXX ) in customer service who advised me of the bank hold policy, and that they would be unable to lift the hold. I then asked if the deposit could be canceled so that I might try an alternate method such as Zelle which was recommended by the agent I was informed that they could not cancel the deposit. 

I have a bill due on XX/XX/XXXX, which I will now have to pay interest on until the funds are released. 

I asked for an explanation since when the representative reviewed my account they noticed that I have not had any checks returned on my account and that the check I was depositing was the same type of transaction on the same account that I perform every two weeks for just about the same amount. They informed me of the bank protecting me from a possible overdrawn account. I notified the agent that if they looked at the deposits they would notice the checks are from my wife and we have been doing this transaction for over a decade since I had not chosen to switch banks since I am in my XXXX year with this institution. They notified me that they could have a supervisor review my account and contact me within XXXX business hours. I pointed out that the hold would expire at the end of that time frame and I was not satisfied with that solution. They advised me that I could receive quicker service by calling the bank. So I did. 

I called the bank on the evening of XX/XX/XXXX and spoke with a representative in the South Carolina office ( XXXX? ) and she reiterated the same information and handed me off to a supervisor ( XXXX? ). He said that he did not see a hold on the funds, which I asked him to clarify since I could see the hold online, and was notified of the hold immediately upon the deposit. I asked if what he was saying was that there was no hold and the funds would be available after midnight as they have been on the same deposit every two weeks for the past decade or so. He said that I should check my account after midnight. I felt as though I was being pushed off and given information to satisfy my call inquiry when I knew that the information was incorrect. 

This morning ( XX/XX/XXXX ) I reviewed my account and saw the hold on the account and called the bank and spoke with a representative in Arizona ( XXXX ) who I explained the situation and he transferred me to a supervisor in Texas ( XXXX? ). After hearing the same story of the bank trying to protect me I asked the supervisor who had the authorization to lift a hold and she stated that no one did, and I asked her again if there was no one in her department ( Escalation ) who had the authority to override a hold and she stated there was none. I pointed out to her that as a former bank employee who was a supervisor in a branch that I had the authority upon my discretion as an officer in the bank to override what I felt might be an unnecessary hold such as in this situation. 

She said that she was filing a complaint for me about the previous interaction where I was given false information, and we ended the call. 

During the interaction, I stated that beyond the extra interest that I would have to pay because of the hold, my ultimate concern would be in two weeks ( XX/XX/XXXX ) when I process the same deposit again and then have to immediately make my mortgage payment the next day ( XXXX ). My faith in an institution that I have banked with for so long has been eroded and they have shown that relationship and record do not hold any credence.

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