Check Processing for Banks

Check Processing for Banks

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Devika Taneja started this petition to Bank Of America

Bank of America is cheating hard working people out of their money. A friend of mine has accounts with Bank of America. A check was deposited to one of the accounts and the check processed almost immediately and the funds were available for full 4 days. On the fourth day, they get an email that all the funds have been removed from the account because the 3rd party, who gave the initial check, did not have the funds. In essence they gave a fraudulent check, and Bank of America was unable to investigate that until 4 days after the check was cleared. Now the account has negative balance. The next day, Bank of America froze all the accounts and took out all the funds from every account to offset the negative balance. This is around the end of the month when all bill payments are due. Bank of America took all the money and left them with absolutely no money to pay any bills. Bank of America has a system of giving people funds that they haven’t fully verified yet. Because of this system, customers are getting false information that they have money in their accounts when they actually don’t. This system is flawed and needs to be changed. Now, this friend is left with no money to pay their bills because Bank of America took money away from them for their mistake. 

 This post to spread awareness on how unfair these practices are. Bank of America is showing to us that they do not value service nor care to investigate fraudulent checks correctly. Furthermore, they didn't even penalize the party with the fraudulent check, but rather the party trying to receive the money. Bank of America doesn't care if you go homeless as long as they have their money. 

0 have signed. Let’s get to 5,000!
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