BofA – happy to take back money they haven’t even given you yet

I deposited a couple of checks last week.  Due to a snafu at work, one of them had a stop-payment put on it the day after I deposited.  BofA went ahead and took the full amount for that check back out of the account, even when only $100 of the check (well, $100 of the combination of the 2 checks, actually) had made it into the account due to 2 levels of holds.  So, for these 6 days, our balance is negative since the chargeback posted immediately.  It was actually worse than this screen shot for awhile when the first level of hold was still in effect.

image

Lovely.

I really didn’t think it would be that complicated for a bank to realize the chargeback on a check is related to the hold on that check and have them cancel each other out (or at least apply at the same time). 

Boy was I wrong!

Thankfully we do all of our “real” banking through USAA, so this is just an annoyance instead of a major hassle.

(Note: No, I don’t think there’s much security in hiding parts of the above numbers – however, I did, and the above still gets the point across 🙂

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