Anonymous
Managing an account: Checking or savings account
I received a BOA check from a dealer after selling my car and I deposited the check into my BOA checking account. My issue is the fact that a message displayed informing me that there was a 7-day hold on the funds - that information should have been shared BEFORE the transaction was finalized. I then called the bank, after sitting on hold for over an hour, both an associate and manager informed me the although my account had been with BOA over 20 years none of the funds from a $1700.00 deposit could not be made available until the hold period of 7-days had expired. As a result, I am forced to wait before I can close that account with BOA. This makes no sense because if I had walked into a BOA bank, the associate would have verify the funds and cashed the check on THAT DAY - not 7 days later! They should reduce this hold to 48 hours for remote deposits and make 20-25 % of the funds available immediately for all established account.
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