http://www.eyeonannapolis.net/2009/10/21/bank-of-america-predatory-banking/?utm_source=rss&utm_medium=rss&utm_campaign=bank-of-america-predatory-banking ...it's about the quality of life! Mon, 21 May 2012 19:06:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://www.eyeonannapolis.net/2009/10/21/bank-of-america-predatory-banking/comment-page-1/#comment-1494 dmebane Fri, 23 Oct 2009 19:58:04 +0000 http://www.eyeonannapolis.net/?p=3634#comment-1494 We own several rental townhomes in Maryland. Each month the residents' rent checks are scanned into Bank of America for immediate deposit. BoA, however, has begun "holding" those funds until all of the checks have cleared, sometimes for up to two weeks. They are drawing interest on the money while "holding" it. We do not have use of any of those funds during the entire time it takes for all the checks to clear. It sure would have been nice to know of this new policy implementation before we "bounced" over $20,000 in checks we wrote to contractors and suppliers for the townhomes. We are still trying to get our "Premier Banker" to waive the fees we incurred when this happened......what a joke! We own several rental townhomes in Maryland. Each month the residents’ rent checks are scanned into Bank of America for immediate deposit. BoA, however, has begun “holding” those funds until all of the checks have cleared, sometimes for up to two weeks. They are drawing interest on the money while “holding” it. We do not have use of any of those funds during the entire time it takes for all the checks to clear. It sure would have been nice to know of this new policy implementation before we “bounced” over $20,000 in checks we wrote to contractors and suppliers for the townhomes. We are still trying to get our “Premier Banker” to waive the fees we incurred when this happened……what a joke!

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