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GFallsFan

Joined: 10/31/1999 Posts: 11605
Likes: 1446


BOA just put a 9 day hold on one of my client's check deposit.


A NINE day hold!!!! What the heck? Are they sending a courier for the funds? This is a business account and was not a new customer. The amount was $41k and it is not the biggest client by far. And my client has been banking with BOA for 12 years and is making a ton of money too. I don't have signing authority on that account so couldn't call the bank on my client's behalf and he was too busy so we just let it go (this time.)

On the contrary, I received a $400k check for another client. First time payment and they couldn't do ACH/wire from that account. Ran over to the customer's bank, Bank of Clarke County, to deposit it myself so I could talk to the branch manager about when it would be available. I am a signer on that account. She told me it would be available immediately but if I wanted to wait until it cleared it would be maximum 48 hours. She was shocked when I told her about the 9 day hold at BOA and said she had heard of that once before but it was at Wells Fargo. Not sure what that deal is.


(In response to this post by Hokie CPA)

Posted: 08/05/2019 at 2:41PM



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