Bank of America - "Retroactive" Hold on Deposited Funds

I deposited an in-state check for $5,000 with a teller on 8/21. The deposit appeared on my account immediately but none of the amount was available as the deposit was still pending. No problem, to be expected.

On 8/26 the entire deposit amount finally posted and was shown as part of my available balance. I paid some bills and all was well.

Today, TWO FULL DAYS after the deposit cleared my account I log onto my online account only to discover that the $5,000 deposit has been now put on hold, removed from my balance, the bill payments have cleared and my account is overdrawn by over $4,000. "Service" reps now tell me the funds will be unavailable until 9/3.

I completely understand and expected to have a delay in the check clearing (it did take (5 days to post) but I cannot comprehend how they can post the deposit, make it part of my available balance and then take it away two days later. Never in a million years would I have touched the funds if I thought there was a chance they could vanish!

In the meantime, I will not have access to my paycheck with is scheduled for direct deposit tomorrow morning, I will have to wait until 9/3 for this disaster to clear up before I can touch it.

And the kicker...the woman I spoke with assured me that I will not be charged any overdraft fees. Gee, thanks!!