I deposited my disabled children’s government issued SSI checks into my account and received a deposit slip showing the funds would be available the next day. I checked the bank app and it showed the funds were available to cover items and checks posting the next day.
The following day I paid some bills and on the third day checked the bank app and was notified the bank put A 7 day hold on my deposit. They then proceeded to return all the payments for my bills and charged $35 NSF fees for each item. I contacted customer service to inquire and was told the 10 day hold was standard for EVERY bank! Then because I complained they increased the hold for 10 days!!!
Keep in mind the deposit was Government issued disability payments not an out of state check from a random person.
This is their way of screwing people out of money and making a profit at the consumers expense. They are holding my money captive while draining my account of fees.
Product or Service Mentioned: Bank Of America Check Deposit.