Consumer complaint received 2025-04-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: BANK OF AMERICA, NATIONAL ASSOCIATION
State: MA

Complaint narrative:
On XX/XX/year>2025, my wife deposited a {$5000.00} bank check ( cashiers check ) issued by XXXX XXXX XXXX at a Bank of America financial center. We chose to make the deposit at the financial center specifically to confirm whether a hold would be placed. If a hold had been applied at the time of deposit, we intended to retrieve the check, have it cashed, and then deposit the cash. However, we were not informed at the time of deposit that a hold would be placed. Instead, we received an email two hours later stating that the funds were on hold with the following reason : Weve placed a hold on your deposit because we have information indicating the check ( s ) may be returned.

This vague explanation was never clarified further. I immediately called Bank of Americas customer service on XX/XX/XXXX at XXXX XXXX  to express my frustration. The representative informed me that they needed to wait for the check to process overnight and advised me to follow up the next day. She also confirmed that Bank of America now informs clients of holds only after the deposit has been made, via email, instead of notifying customers at the time of deposit. This practice makes it impossible for clients to retract their deposits and seek alternative solutions, such as cashing the check at the issuing bank, where a hold may not be placed. 

The next day, XX/XX/XXXX, I called again at XXXXXXXX XXXX and spoke with another representative, who confirmed that this was now standard practice for Bank of Americathat customers are notified about holds after the deposit has been made. During this call, the representative mentioned that a hold can be placed on any check if the bank feels that the check could be returned. 

However, when I finally spoke with a supervisor on XX/XX/XXXX, they contradicted the information I had received previously. The supervisor claimed that a hold would normally be placed at the time of deposit, but that an email notification could be sent later if something arises after the deposit. I explained that the previous representatives told me that this was a new practice and that holds are now only notified via email after the deposit. The supervisor did not acknowledge the discrepancy and insisted that the original practice is still in place.

When I asked for clarification about the specific reason for the hold, I was again given the vague explanation provided in the email : Weve placed a hold on your deposit because we have information indicating the check ( s ) may be returned.

Additionally, I was advised to cash the check before depositing in the future to avoid similar issues.

Throughout all of these calls, I was informed by Bank of America representatives that all calls were recorded, and I expect them to review the conversations for accuracy and compliance.

To make matters worse, I deposited an identical check from the same issuer and remitter ( my parents ) on the same day into my own BoA account, and no hold was applied. There was no reason to suspect fraud, and to my knowledge, we have never had a returned check or overdraft on the account.

This issue is not just poor serviceit represents a systemic failure to comply with federal deposit regulations. Bank of Americas current check hold and notification practices are unfair, opaque, and potentially abusive. I am requesting a formal investigation into Bank of Americas handling of deposit holds, failure to follow Regulation CC, and refusal to provide adequate customer support or justification for withholding funds.

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