Bank of America steals from customers

When you deposit a check, Bank of America will continue to hold the funds at least 10 days after THEY have collected them. In effect, they use your deposit to collect money for themselves without giving it to you for 10 or more days. (In my book, that's stealing) Watch your account. They will also credit your account, then take the money back out so they can collect bank fees for overdraft, then redeposit your check amount the next day. The line items on your statement that show the deposit/withdrawal/deposit is then deleted so there is no record.

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I had the same exact thing happen at Tower Federal Credit Union this past December.Running low on funds i had asked my mother to deposit funds into my account to cover my auto insurance which is automatically deducted on the 24th of every month.The insurance is $52.55,my mother deposited a check for $56 into my account on December 19th.There was a balance of $23.44 in the account prior to her depositing the $56.This would have brought the balance up to $79.44.We withdrew $10 for gas on the 24th leaving a balance of $69.44,plenty to cover the $56 car insurance withdraw to be taken out on the same day.Instead Tower Federal Credit Union charged me a $20 NSF fee on December 24th and another $20 NSF fee on December 31st.Of course i didn't have the $52.55 in my account on December 31st due to T.F.C.U. taking the 1st $20 NSF fee out on Dec. 24th when there were actually enough funds in there.My mother received her statement which stated the check had cleared and funds received by T.F.C.U. on December 22.Clearly T.F.C.U. had the funds in their possesion by time the funds were to be taken from my account on Dec. 24th.This whole ordeal cost me $40 in NSF fees,$60 fee from my insurance company ($30 per NSF transaction) and almost cost me losing my insurance which i have had for over ten years never being late or missing a payment.T.F.C.U. continues to blame us for not having the funds in the account and won't admit to their error.