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Bank of America is holding my money for over 2 weeks without proper notice or merit.

Unfortunately, we paid the wrong credit card balance off by sending a rather large Bill Pay from our Bank of America checking account to our Fidelity credit card account during the first half of October. Once we caught the error, we partnered with Fidelity and Bank of America to reverse the payment.

Additionally, Fidelity both confirmed the transaction was completed on October 27th at 7am, which Bank of America also confirmed receiving.

Since that time, Bank of America has held the funds and each time weve called for support Bank of America has given us a variation of stories as to why the funds are not back in our account.

Here is what we know: Bill Pay is performed by ACH which, according to Automated Clearing House (ACH) Payments Processing (, transactions clear next day. Weve found this to be true for every ACH through Bank of America transaction (incoming or outgoing) UNTIL THIS ONE. Our paychecks, bills, transfers all happen quickly. However, Bank of America has held these funds for more than 2 weeks thus far.

Also, within the link to ACH information, Bank of America touts a Robust audit and management reports provide you with summary and detailed information, including: Daily summary reporting of all transaction and authorization activity Reporting of all authorizations and maintenance activity


On October 28th, I called Bank of Americas Bill Pay Department who again confirmed the payment of $19KHOL, was received on the 27th of October at 7am. I asked for a confirmation number they said there wasnt one. I asked where I would go to look at the pending transaction they said there wasnt one. They did say the funds would be back in our checking account no later than end of business day, October 29th.

On Saturday, October 30th, the funds were still not in our account.

On Monday, November 1st, the funds were still not in our account nor were any pending transactions showing on our account.

I called Bank of America Bill Pay Customer Service who notified me the funds should be in the account by end of day tomorrow, November 2nd. I asked for a confirmation number or a way to view the transaction they said this type of transactions dont fall into pending transaction and so, there isnt any record for me to view.

On Wednesday, November 3rd, the funds were still not in our account nor were any pending transactions showing on our account. I again called Bank of America Bill Pay Customer Service, who said they would escalate the issue and gave me a case number with the last four digits of 2437. They said we should have an answer back within 2 days.

On Friday, November 5th, the funds were still not in our account nor were any pending transactions showing on our account.

Again, I called Bank of America Bill Pay Customer Service, who said the case was closed and we should have funds in our account by the end of the day.

On Saturday, November 6th, the funds were still not in our account nor were any pending transactions showing on our account. Again, I called Bank of America Bill Pay Customer Service, who said the funds are being held for 7 days to confirm they are received to protect us from having any issuesWHAT? Again, we escalated and the person we were transferred to. This person stated the investigator works in another country and will need to review the case, which will take two business days.

We were instructed to wait and call back on Tuesday, November 9th if the funds were not in our account.

On Tuesday, November 9th, the funds were still not in our account. I got on the phone again with Bank of America customer service, was transferred to Jackie in the Bill Pay department, who told me to call a different Bill Pay Department at 877-800-****. After being on hold for a long time, I called the regular customer service and started over. I spoke with Kia, who confirmed the funds were transferred via ACH and asked for the followingWhere to see the funds and status we have nothing showing on Bank of AmericaA reference number or confirmation number about the fundsAn escalation number/ticket

I was put on hold while she spoke to a supervisor, who then joined the call who I believe was named Das, who let me know that although Bank of America received the funds on the 27th of October, they Decided to put a hold on the amount on Nov 3rd over a week later.

Basically, one week after the funds cleared, BofA flagged the payment as a risk and going through a credit trace on Nov 3rd, which is a violation of NACHA and FDIC rules for ACH Funds. Additionally, the funds are coming from another FDIC BANK.This supervisor did ask for funds provision of credits for hardship on my behalf. However, since I have funds in my account and am not bouncing checks, I am not provided this service.

After nearly 3 hours on the phone I have zero progress with Bank of America. The supervisor said the case is re-opened and will take 1-2 business days to resolve.

Yeah right, I've heard that before.

On November 11th, the funds are still not in our account. I called Bank of America again, was transferred a number of calls AGAIN, and then the gentleman who looked up my case number and said he didnt know how to look up the status of the funds. He then transferred me back to customer service.


From researching the NACHA laws and lawsuits filed against Bank of America such as ACH Transfer Fee Class Action Lawsuit | NAFCU I quote for any given payment or transfer, the NACHA system allows the payee to affirmatively send it or the payor to simply take funds from an account. An accountholder wishing to make a transfer from their BofA account can easily accomplish this by either pushing the funds from BofA via BofAs online banking portal or pulling the funds from BofA via a portal operated by the receiving financial institution.

The end result is the same: money transferred seamlessly, electronically, and quickly between accounts. BofA is engaged in a multi-prong effort to deceive its accountholders about the workings of the NACHA system

According to FDIC, Electronic payments received by your institution for deposit in an account--An electronic payment (a wire transfer or an ACH credit) is considered received (deposited) when your institution has received both payment in collected funds and information on the account and the amount to be credited.

(Under other rules, funds for most electronic deposits are made available on the day of deposit.)

It goes further to say that large deposits (greater than $5,000) --Any amount exceeding $5,000 may be held. Your institution must make the first $5,000 of the deposit available for withdrawal according to your availability policy and the remainder within the "reasonable" time frames discussed in the paragraph above.

Truly, this is a devious act of the bank.

Monetary Loss: $18914.

Preferred solution: Full refund.

Location: 230 Broadway East, Seattle, WA 98102

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