I advertised a car for sell on autotraders .com and am in NJ . Abuyer from CA contacted me and we agreed on the price of $5000 .
he send a check for 10.300 and said since he has had a stroke and is in the hospital his accountant had made a mistake and included teh fee for teh shipper and collector in the check that was send to me . when I was depositing the check in bank of america account teh teller informed me that there is no hold on teh check and it will clear the next day . then the next day the buyer asked me to transfer sun of 3950 to shippers account to collect and ship the car . I called the bank and they confirmed the check has been cleared and teh funds are available .
I personally went to teh bank and asked specifiicaly if teh check is available ? if it is pending ? if all the funds are available and they said the check has been cleared by teh provider's bank and all teh fund is in the account , an hour later I went back made a $3950 cash deposit into the account the buyer had given me and took $9500 withdraw myself . yesterday when I went back to do another cash transfer for teh buyer the bank infoormed me that teh check had bounced and my account is overdrawn !!
their answer to my question that why they had CONFIRMED that teh check has cleared was because since I had a good relationship with teh bank for 25 years they made the funds available to me . I did not go to the bank asking because I am a good client would you allow me to withdraw against a check that may or may have not been cleared . I asked a specific question that has teh check cleared by teh providers bank ? is it pending ?
they confirmed it was clear and nothing to worry about .
now they do not want to take any responsibility . I made a cash transfer with teh reliant on their assurance that the check had gone through and I have even told them I am doing a business transaction for the first time with someone I dont know and that is teh reason I had called and personally gone to the bank
Product or Service Mentioned: Bank Of America Check Deposit.
Reason of review: Other issue.
Monetary Loss: $6500.