I posted a few days ago on here asking how I can avoid a hold on a check deposit. I decided to go with Bank of America cause the business that my client banks with (literally at the same exact location) is Bank of America. I went in today to deposit the first check and talked to the bank manager for business and they said there shouldn’t be a hold when it’s deposited. I fill out the slip and he deposits the check for me and says there was no hold placed so you should see the funds in your account tomorrow morning. I get home and 3 hours later I get a BS email saying they’re holding my funds for 9 f*ucking day. 9 days. It’s literally the same bank as my client and even the person I spoke to at Bank of America branch today said yeah since it’s same bank we can prove it’s legitimate pretty much right away. Email excuse I got was: “A hold was placed on your check(s) because check specific information indicates item may be returned”
thats BS because check didn’t say any of that and there was no product involved, i was paid for digital marketing services. I’m not dumb nor is anyone else. These banks hold onto these funds so they can invest it and make millions of dollars every day from other people’s hard earned money. And we are the idiots that comply like good little slaves so we never complain or try to push a law that investigates on these illegal actions.
I apologize for my rant but this is just beyond frustrating as a new small business owner
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