I made the mistake of thinking that Bank of America cares about Customer Service. They are wasting any money that they spend on marketing because their lousy service negates anything they have to say.
I would NEVER recommend this bank to anyone and now I would actively tell people to avoid BOA like the plague. After being a customer with BOA for over 30 years, I thought it reasonable to deposit a large check from a major financial/investment institution (not Joe Shmoe) and have the funds available within 2-3 days. Instead, they tell me that they have the DISCRETION to take up to 10 days to credit the funds to my account so they can "verify" that the institution has the funds. TEN DAYS?!?
From another MAJOR/well-known/US financial institution?!? To a known customer account with over 30 years of history?!? Is this 2018 or 1918?? I wish I could get that check back and deposit it to my account at a different bank.
I'd have those funds by now. I have never regretted a banking relationship more. They have pretty much stolen my funds and put me in a situation where I won't be able to meet my obligations and I'll have to pay late fees because they have chosen, at their discretion and by their own choice, to not credit me my own funds for nearly 2 weeks. And when the funds do clear, it will be too late.
But, oh, well, "it's their discretionary policy." To be clear, there is absolutely no reason to question the validity of the funding source, the validity of my account (again, 30+ years, same account #) or anything else. They are holding my money hostage because they can. And not having access to my money will likely cost me dearly in terms of reputation and a missed opportunity () (damages far beyond the actual funds involved here) and fees that I'll likely incur, as the funds were needed to meet financial commitments.
I just got a flyer about opening a business account. Umm...NO!
Reason of review: Poor customer service.
I didn't like: Unreasonable time for crediting deposited funds.