I went today to deposit money into my daughter's account (she's a college student in California). I waited in line and when I got to the teller, I was told that since I was not an authorized user on her account I could not deposit cash into her account.
This has got to be the DUMBEST policy ever. I said what are you talking about, I always put money in her account. The teller then advised me that effective December 4, 2017, the bank implemented a new policy which mandates anyone making a cash deposit into a customer account must be listed on the account or have an account with BofA. I do not like this bank and would never open an account of type.
I went to PNC (my daughter also has an account there) and deposited the money into her account without an issue.
I told my daughter to close her account at the bank. Never going there again!!!!
Product or Service Mentioned: Bank Of America Banking Service.
Reason of review: Ineffective policy.
Preferred solution: do away with the new policy.