Bank of America Complaint - BOA claims it held a CASH deposit because it was made out-of-state
I am so fed up with this company. That's why I'm closing my account and finding something else. My Mom deposited $1200 CASH into my account, in PA, on a Tuesday afternoon. That same day, the cash deposit was reflected in my account, along with the $400+ that was already in there. I made a large purchase that same day, well after the deposit was made (car repairs). I thought everything was fine. The next day, BOA showed the deposit and the repair transaction as pending. I had an available balance of $347. On Thursday morning, my deposit was nowhere to be found but my account was drastically overdrawn. There was a $50 transaction pending, which should have easily cleared, but BOA failed to post the cash deposit, therefore placing holds on my other funds and doing God know's what with the $1200 in cash.
I called them this morning, rather frustrated, and they claimed that since the deposit (remember, it was CASH) was made out-of-state, their policy is to credit the money immediately, then show it as pending while they wait for who knows what, then remove it, and then post it again. They claim that they'll refund any NSF charges that result but I don't believe them.
Now I have to wait until tomorrow morning to see if they post my cash deposit (they've already hit me with an NSF fee for the $50 pending transaction) and haggle with them to refund the NSF fees.
I spoke to only 1 pleasant Customer Service rep. The rest were nasty and kept giving me inconsistent information. I don't have time for this nor do I deserve it. I've had my account for 2.5 years now and I keep it in good standing. I just can't believe they're so unwilling to help me out in this situation. But I'm through with them and I'm taking my money and business (I'll need a mortgage in the next few years) elsewhere.
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