Consumer complaint received 2025-07-16 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: NV

Complaint narrative:
On XX/XX/XXXX at XXXX I visited Bank of America branch and deposited a USPS money order of {$800.00} into my checking account. At the time of the deposit the account was not overdrawn but I was told I could not cash the money order unless I had the amount of the money order in my account. I was given a deposit receipt and confirmation that the funds would be available by the end of the next business day. I received an email on the same day at XXXX XXXX saying a hold was placed on my deposit because the bank had " information indicating the check ( s ) may be returned. The availability information said XX/XX/XXXX at XXXX XXXX local time. I reached out to a representative at XXXX to inquire about the hold. I was told that the funds were currently pending the account and I could expect them to clear the next morning. When I checked my account on XX/XX/XXXX I noticed the prior hold had been removed from my account and a new transaction labeled pending debit/hold on XX/XX/XXXX had been placed on my account for {$800.00} making none of the deposit available. I reached out to rep and was told they could not provide information on why the additional hold was placed on the account and after speaking with several reps asking about the extended hold I was told that their XXXX  hold team advised the hold was due to " doubts on the collectability '' of the funds so they would not be able to make the money available to me until XX/XX/XXXX. After asking for details on what changed and why I was not notified of this change rep stated " I just told you ''. An agent said that I would need to reach out to the issuing bank to request a stop payment if I no longer wished to finalize the deposit. I began to worry about the validity of the purchase so I contacted the USPS verification number to confirm the validity of the money order and they confirmed that the serial number was valid and money order had been cashed on XX/XX/XXXX. I called Bank of America to relay this information and request a way to send images of my sales receipt, customer receipt and account balance to expedite verification of the deposit. I was told it would not be accepted because they had to wait the full 7 days to confirm the payment would not be returned because of the " type '' of hold that was put on the account. I asked how the payment could be returned since this form of payment was secure. No one could tell me any more details about the additional hold except they " doubt the collectabiltiy '' I was hung up on twice while asking for documentation of the type of hold as well as when the funds would be available I was told written correspondence had not been generated yet but I could go into a branch to request a letter explaining why the hold was put on my account. Based on my interaction with the teller when making my deposit I feel I was wrongly discriminated against and profiled.

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 monetary relief