Interstate Protective Services Informative - Banks Stealing Money

Review by k9officer33 on 2008-12-19
MANASSAS, VIRGINIA -- Try putting cash in Citibank and you will find it is held up to 48 hours? It's cash, why is it held, so they can steal more and more of the peoples money. They will allow a check to bounce even though you have more than enough money in the account to cover any checks. Then they explain it away like I'm stupid or something. And this happens at every bank I have used, they always do the same things, so what does the consumer do?

I even use check cashing places just to stop the 72 hour hold on my company checks but still have their damn fee's to pay, is there a law against this?
Comments:2 Replies - Latest reply on 2008-12-19
Posted by memoryx57 on 2008-12-19:
I would suggest that you find a local bank rather than one of these high profile big banks. They're really more trouble than they're worth. I'm sure if you find a local bank or at least one that is based in your home state, you'll get much improved service plus someone who actually appreciates your business. The larger banks are absolutely not going to budge on any issue you have regardless of who's right and who's wrong. Sorry for your problems and good luck..
Posted by Anonymous on 2008-12-19:
Cash is never held. Period. It's the law, and banks have internal, external, state and federal auditors making sure that they comply. If you deposit on Friday evening and it isn't available until Monday night, that's not a hold. It's just that you deposited after Friday's business day ended, and Saturday and Sunday are not business days.

Your Name:
(displayed with your comment)
Your E-mail:

Your Experience/Advice:
Check spelling

By clicking submit you agree that you have read and accept the Terms of Service & Privacy Policy.

Note: All comments are reviewed by a moderator before being published. Please be sure to read our guidelines before commenting.