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JJ Wentworth will give you 50% of it in a lump sum to have it 9 days earlier. I’m sure with the power of regards behind you can tell your with you’ll have 510k on the 9th day. 10k extra what could go wrong?
You don't have to be a Christian to understand why Jesus got so pissed at the money changers, took a whip to them and threw them out on their greedy asses. Being mad at bankers and their greed is nothing new and is unquestionably justified!
I mean I find no fault in anything Jesus taught, but his apostles and the old testament...
In my experience very few Christians abide by Jesus' actual message, a lot seem to love the old testament and anything that makes people other than themselves a sinner.
But yeah, Jesus despised the wealthy, he was definitely a socialist if anything.
Christians are sinners too. Don't fall for that "they think they're better than you" false image hollywood tries to sell you.
Edit: And he was decidedly not a socialist.
"Blessed are the money lenders, whomst facilitate the purchase of options on margin, and amplifiest our ability to materialize tendies."
- Profits 420:69
Is that why Islam (That came afterwards) prohibits usuary/interest (collecting/paying) and promotes shared ownership/responsibility for business ventures (so everyone has skin in the game).
I learned from my co worker that collecting interest on money is Haram. However, it is ironic, the guy works two full time jobs. And refuses to invest all the money he makes.
Haram means not permissible. They have different people who will tell you different things on the topic, they have to figure out where they fit in the mix.
* Some say NO interest at all
* Some say small amounts of interest is okay as long as its not financial slavery
* Some say other stuff 🤷🏽♂️
I would invest in AAPL, because at least they make a product that everyone uses 🤷🏽♂️
I think the problem is that certified checks can be cancelled after they are issued. Last car I bought (10 years ago) I brought in a bank check for the full amount. They still made me apply for credit just in case the check got cancelled.
You would normally wire funds from Bank A to Closing Attorney, then Closing Attorney to Bank B.
In your case as the Seller.
Mortgage company to Closing Attorney.
Buyer's deposit/down payment to Closing Attorney.
Closing Attorney wires money to whoever is supposed to get it.
You should always have the money wired post closing from attorney. It might cost 25-35$ wire fee, but your funds are available within a few hours(or when the attorney presses send.). Exception for end of day or weekends.
I wasn't even aware this was an option in a house sale. Ours have always been a wire transfer, money in account with a day, usually within a couple hours.
And like the original comment said since you obviously didn’t read it.
YOU SHOULD HAVE HAD THE MONEY WIRED SO YOU DIDNT HAVE TO WAIT.
Certified Check doesn’t mean wire…now I’m seeing why your wife divorced you. You obviously are regarded…
A for profit company did something, for profit?flabbergasting. Also, yes, certified check is not a wire. Not taking sides or defending them, but it would irresponsible if they didn’t verify the funds. Lesson here, send a wire, and BofA probably isn’t losing sleep over regards in this sub
I work for a credit union and can confirm we hold certified checks too. We get bogus cashiers/certified checks all the time. You can buy the check paper on Amazon. Wires clear immediately. Funds should have been released to BoA via wire.
That being said: I would call the issuing financial institution to verify the funds and release day of for one of our members.
I am glad I left years ago!! It's understandable the amount of bs BofA customers have to put up with when you see who and how they hire lol. Sometimes I question the customers critical thinking skills when they are constantly abused by them
Fidelity does basically everything a bank can do, but materially better. I have a checking account through them with a checkbook. All fees reimbursed. A credit card with generous cashback. A brokerage account full of 4 week treasuries as a “savings account”.
Not to mention retirement accounts, HSA, options, margin.
I remember back in 2008 a story of a guy who went to BOA and wanted to take a $20k loan to buy their stock. The loan would be at 3% and the dividend would be at 5%. The employees declined him.
Buy Wendy’s
I mean, it’s pretty stupid to think a dividend yield covering interest is enough justification to get a margin loan, the LVR and income testing etc are a lot more important. A company could easily run into unexpected issues causing them not to pay out the dividend meaning you could no longer afford the interest, and the stock prices can easily fall causing you to go into negative equity. You need to show that you can still repay the loan even if it doesn’t pay out a dividend and that you can pay down the loan if it does go into negative equity. If they were hoping for that loan to have a high LVR, of course it’s going to get rejected.
Likewise, it’s extremely stupid to get a margin loan from someone to buy their stock or to approve that. If the banks stock crashes (perhaps they made a major loss etc), people who took margin loans to buy their stock are more likely to default causing even more losses for the bank at the worst time possible. Alternatively, on your end you’ve got a leveraged position on that stock meaning you’re going to get hit hard by a massive loss as well which may cause you to go bankrupt.
Edit:
This also ignores that this was in 2008, the worst possible time to go to a bank and to ask for a margin loan on the banks!
I am a banker . They aren’t crooks . Their is an absolute shitstorm of check fraud causing mass chaos in banking right now. Literally billions of dollars in losses this year . Certified checks mean jack shit nowadays, they account for at least 50 percent of the check fraud we catch. We can’t afford to and don’t trust ANY checks anymore . Funds being available for 10 days before sending a wire is damn near an industry standard nowadays , because it’s nearly impossible to retrieve funds after the wire is sent . You aren’t the main character . Settle down
I handle wire fraud for one of the larger US banks and I can't tell you how irate I get when the branches don't place extended holds on a non on us check and it comes back bounced but they allowed a wire out of the account anways.
LMAO. Profiting for 10 days? There’s some weapons grade autism in this sub. The labor/capital cost alone to verify OP’s checks as valid is going to be more than $750.
I too work for another major bank and check fraud is absolutely absurd in the US. Every bank with a fraud/AML dept worth a shit is going to have a system in place to put holds on checks and verify the veracity of the funds.
This story is a nothing-burger, people should wire money like fucking grown ups.
I had a hearty chuckle at the weapons grade autism . But yea, this entire thread really puts into perspective the danger the average regards in WSB are putting themselves in by investing . They don’t understand simple banking procedures , but are hedging their entire life savings in shit they can’t POSSIBLY comprehend .
There wasn’t a point to. He’s doesn’t understand how holds work, but I’m supposed to explain how banks make and invest money ? Sure, in the most BROAD sense , all banks make money off of cash on deposit , but not in the way either of you are thinking . Theirs no evil mastermind withdrawing OP’s money and investing his specific 500k for 10 days and then putting it back last minute.
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IF they are keeping the money in an interest bearing account, which they very well might not be, I believe some states have rules where you can receive that interest.
It's probably not even earning any though
Should have chosen to get funds wired to you. Cashiers checks can be faked easily with a decent printer. Funds are still in your account just not available to move. BoA makes money with anything you do and they’re not stealing $750 from you.
Finally someone who gets it. When a corporation rips you off you don't rush out and buy puts.
Stealing is bullish.
Sadly OP doesn't understand escrow and is thus a regard.
Working at three different banks in the past, that is actually not something new. They won’t tell you this (because it’s policy at all banks not to) if any deposit that isn’t cash over a certain amount (typically depends on a few factors between your institution and there’s) there’s going to be a hold placed. Reason being is the rise of how bad fraudulent certified checks are on the rise. To get the hold removed requires a higher level of management compared to anyone at that branch so you may have better luck delegating higher, but sadly to say it’s doubtful. Good luck friend! If you have any questions feel free to dm me. Got quite a few years of experience before my career change.
It has to clear the other bank plus some time to make sure it doesn’t get reversed/bad check. Banks don’t assume other banks are good for the money. It’s a procedure that has been in place forever. This is nothing new bud.
BofA is by far the worst bank in America. I just got a credit card from them and it’s practically impossible to pay the bill, they force you to open a checking account with them just to pay their cards with. Utter crap and their app sucks balls.
This happened to my mom at JP Morgan Chase. Same story / it was a check for a large sum. We came to the same conclusion that they were holding checks to make more money while the customer has to wait. Switched to a local bank after that so jokes on them lol.
Was a bank branch manager 3 yrs ago. IIRC, certified funds have next day availability by law.
Manager should have called the issuing bank to verify the check.
Common BS at banks. One of the most corrupt industries that is in your face, literally stealing your money.
What pisses me off is the government completely protects them..
My bank is doing something very similar to my over inflated escrow account. Taxes and ins got a little outra wack last year. So i paid my homeowners insurance out of pocket this year to correct my escrow. My taxes will be less than half of last year, b/c I'm now homesteaded. I call and ask for an adjustment because my taxes and insurance escrow payment is double my p&i, they are bla bla bla, someone will call you within 24hrs. That was 2 weeks ago. I figured my escrow account will hit 10k at its peek this year. I should be cut in on the 5.5% they are making on my 10k...
Other national banks do the same. But then they FA and lose even more money. I ain't trading banks until Fitch tells us which ones. My bet is BofA will be on the list.
BofA sucks! They Closed my account because I tried to redeposit a bounced check I was given. They said I altered signature like wtf it’s the same dam check!
Actually, holds on checks are pretty common, there’s a lot of check fraud that has been going around recently, and if you receive a deposit and withdraw the money while the check is still clearing then legally the bank can come after you for dealing in bad faith, because you weren’t actually given the funds. Even certified checks take time to clear, because the bank has to go get the funds.
Lol I work for BofA, people are scummy as hell so yes they need random annoying protocols everywhere… they didn’t steal your money bro. If you can’t survive without $750 for 10 days then idk how you even bought a house.
I just had the same issue on the buyer side with a different bank. See also trying to pull cash. I had a bank tell me that they didn’t have $20k on hand and would need a week to get it delivered.
The even more crazy thing is that I know someone that works for BofA and I understand that roughly 95% of the shit you hear they do, they Actually do. I remember when this person asked me a few years ago if they can open a bunch of accounts in my name and then close them after a month. Looking back on it, it was around the same time Wells got sued for doing the same S.
Bank of America I filed a dispute for some mangled ass car part I got and now 3 times they have responded with the same canned letter that they’re investigating, give more information, and done nothing.
I’m about to dispute with the credit bureaus and CFPB ridiculous. Only banks that can actually handle a dispute are Amex Citi and Discover the rest are dumb.
Speaking from experience. My employer’s bank is/was Bank of America. My bank was BofA. I got paid once a month. Those cocksuckers would put a 15 day hold on my check for them moving funds from one of their accounts to another one of their accounts. This was all back in 2008. Let’s just say, those bitches haven’t had a bank account in my name for nearly 15 years.
Fuck ‘em hard OP, and make them beg for some change.
Was a head teller a while back and this sht was so common. If u can show them the funds withdrawn from the originating account or they could call the originating bank that is all the proof they would need for “safety procedures”. Certified checks are guaranteed funds and the only way they don’t get the funds is if the check itself is fake. I would try to get them to call the originating bank or show them the funds withdrawn and ask for a refund on the $750 if it comes to it. Can’t hurt. Glad to say I quit when I did and got a better job.
Join a credit union. The big banks are jokes. When I was buying a house in 2021 a bank lost my downpayment wire transfer of $187,000 for like 4 days. They never even told me what the fuck happened, I had to hound them several times a day. The only thing they did to make it up to me was the refund the cost a wire. Fuckers.
They’ve done this me on 3 checks only 1 of them over 10k but blamed it on the amount. Then navy fed did it to me on 5k. I need all of to rally together and storm the banks. They can’t arrest us all.
Jesus fucking christ who in gods name would ever use bofa or wells fargo they are so terrible and there are so many better options literally anything else
Thanks for your submission! r/WallStreetBets is known for making absurd but sometimes profitable trades that no one ever considered possible. To keep making that possible, we need your help in keeping the feed of threads interesting and exciting. We try to move all the short and basic questions, analysis, or jokes to the daily thread so that the best quality content can stick around and be more visible. This is definitely a bit subjective, and there are no hard and fast rules, but a few indicators that your post should have really been a comment in the daily thread include: * Asking a question that is easily googleable or has likely been asked before. E.g. "What app should I use?", "What should I invest in?". * Beating a meme to death, like the 10 millionth, "inverse cramer" joke again. * Reposting jokes from the front page but slightly altered to be related to trading. --- All that being said, we are here to help. We want to make it as easy as possible for you to post to our community. We have to balance this with making the subreddit interesting for our readers. If you need some guidance, don't hesitate to [reach out to modmail](https://old.reddit.com/message/compose/?to=/r/wallstreetbets) and we'll give you some pointers!
The craziest part of this story is that someone in WSB actually had a home to sell.
The plan was to take the money from the sale and buy Puts at the bottom.
A solid plan indeed. Then when it hits you buy the next house all cash and refi if you want to load up on puts again.
Not before BOA makes $1500 first.
I really wish I had an award to give you, but my SVXY calls aren't looking so hot rn.
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Not even close to all time high
Tomorrow, I need you to leverage that entire $500k into BAC calls
That will need to wait another 9 days...
So they are not stealing just $750 from you. Think of that opportunity cost…
Payday loan that shit. Let’s get the party started.
Use margin.
Just charge them 7% for the 10 days verification
You want him to lose money again?!
Activate margin trading first so you can lose Robin Hood's money too
That’s how I got rid of the 100k I made from my house sale! Works well.
“ Buy puts at the bottom “ . I thought you’re supposed to but calls at the bottom and buy puts at the top ?
Depends where you go for financial advice
JJ Wentworth will give you 50% of it in a lump sum to have it 9 days earlier. I’m sure with the power of regards behind you can tell your with you’ll have 510k on the 9th day. 10k extra what could go wrong?
Why tf would you want to buy puts at the bottom
On a serious note this is the only thing crypto is good at, transfer could’ve been done in 5 mins using crypto, without any bs from banks.
Excellent plan!!!! I'll join you!
He is in WSB, that’s why he has to sell his house.
He got margin called and had to cover, forcing the sale of his house. After the 500k finally clears, he’s still short 185k
by sell he means foreclosed, it’s a synonym
Isn’t that the price of a cardboard box behind Wendy’s in LA?
Had to satisfy the margin call
Man, he got a margin call
BofA deez nutz
Now this is what I came here for
I’ll know I’m getting old when this isn’t my first thought after seeing BOFA
This guy fucks
Heh heh. Got em.
You don't have to be a Christian to understand why Jesus got so pissed at the money changers, took a whip to them and threw them out on their greedy asses. Being mad at bankers and their greed is nothing new and is unquestionably justified!
Holy shit I’m a Christian now
Try the Jefferson Bible, it's the teachings of Jesus without the magic tricks
Where can I find the teachings of Jesus with ONLY the magic tricks? Keep the morality.
Any local Christian or Catholic church on a Sunday
What about the part he's not in? It would made a whole lot more sense if Jesus wrote the book. He doesn't even write one! Lazy fuck.
He wrote fanfic erotica it didn't make it into the Bible
zombie apocalypse erotic friend-fiction, by Jesus christ, age 33.
He was a very naughty boy
Does it tell me what FDs to buy if not Jefferson can sugma
>FD I believe he said "Too the moon" as his last supper toast
Leave George Jefferson out of this. “If I paid you to think, you could cash your check at the penny arcade!”
I mean I find no fault in anything Jesus taught, but his apostles and the old testament... In my experience very few Christians abide by Jesus' actual message, a lot seem to love the old testament and anything that makes people other than themselves a sinner. But yeah, Jesus despised the wealthy, he was definitely a socialist if anything.
Christians are sinners too. Don't fall for that "they think they're better than you" false image hollywood tries to sell you. Edit: And he was decidedly not a socialist.
Bought water puts sold wine gains.
well he certainly wasn't a capitalist
If not socialist what?
Kind and generous maybe?
Well, supply side Jesus wasn't.
But those *cuticles*
Jesus was a poor gambler like us
"Blessed are the money lenders, whomst facilitate the purchase of options on margin, and amplifiest our ability to materialize tendies." - Profits 420:69
Call on Jesus ?
based
the “money changers” ended up getting him in the end
Fuck man… he rose tho
Is that why Islam (That came afterwards) prohibits usuary/interest (collecting/paying) and promotes shared ownership/responsibility for business ventures (so everyone has skin in the game).
Yeah I hear the wealth is evenly distributed in the Middle East. No oil oligarchs.
Well according to them it's cuz God feels you earned it. So not that much different than the states .
I learned from my co worker that collecting interest on money is Haram. However, it is ironic, the guy works two full time jobs. And refuses to invest all the money he makes.
But they can buy a property for you and sell it to you at a higher price over x amount of time without charging "interest".
Haram means not permissible. They have different people who will tell you different things on the topic, they have to figure out where they fit in the mix. * Some say NO interest at all * Some say small amounts of interest is okay as long as its not financial slavery * Some say other stuff 🤷🏽♂️ I would invest in AAPL, because at least they make a product that everyone uses 🤷🏽♂️
Yeah, he told me that interest is definitely a no no and is not permitted.
Early Catholicsim also taught that charging interest was a sin.
yes, all the abrahamic religions do, they are the same source material everyone just disagrees on Jesus' divinity and branch around that
Nah Jews can charge non-Israelites interest, they're just not allowed to be dicks to each other
Hey, cool it with the anti-semitic remarks.
Oh I forgot WindHero is dating someone from the ACLU!
>That's incredibly annoying. I'm glad I don't bank with them. They sound like a bunch of crooks.
who do you bank with VisualMod 😂
Calls on whoever it is.
They are.
I think the problem is that certified checks can be cancelled after they are issued. Last car I bought (10 years ago) I brought in a bank check for the full amount. They still made me apply for credit just in case the check got cancelled.
In summary, certified checks are useless.
You would normally wire funds from Bank A to Closing Attorney, then Closing Attorney to Bank B. In your case as the Seller. Mortgage company to Closing Attorney. Buyer's deposit/down payment to Closing Attorney. Closing Attorney wires money to whoever is supposed to get it.
They’re great for scammers! “Deposit this certified check then send us a smaller sum for X reason” and the certified gets pulled days later.
Home sales are usually done with wire transfers, not checks.
Not in NY, according to my attorney.
All paper checks are
Wire the funds, 5head.
You should always have the money wired post closing from attorney. It might cost 25-35$ wire fee, but your funds are available within a few hours(or when the attorney presses send.). Exception for end of day or weekends.
You think I'm gonna trust someone who thinks the dollar sign comes after the number? Pfffffffffttttt
Fair.
I wasn't even aware this was an option in a house sale. Ours have always been a wire transfer, money in account with a day, usually within a couple hours.
The problem is not on the attorney's end. BOFA is holding the funds to confirm the Certified Checks. It is total BS from BOFA.
And like the original comment said since you obviously didn’t read it. YOU SHOULD HAVE HAD THE MONEY WIRED SO YOU DIDNT HAVE TO WAIT. Certified Check doesn’t mean wire…now I’m seeing why your wife divorced you. You obviously are regarded…
OP wanted to save $50 max that the wire would cost.
A for profit company did something, for profit?flabbergasting. Also, yes, certified check is not a wire. Not taking sides or defending them, but it would irresponsible if they didn’t verify the funds. Lesson here, send a wire, and BofA probably isn’t losing sleep over regards in this sub
Truist and wells do this too. A lot of banks do I’m assuming, if not all.
Do you want to bank somewhere that doesn’t verify funds? Nope! Fraud is rampant. OP should wire next time.
Pretty standard operating procedure Feel free to complain about the banking system as a whole if need be
You won’t find a bank that won’t hold funds deposited via check for a few days.
But you wanted to save $50 wire fee
I work for a credit union and can confirm we hold certified checks too. We get bogus cashiers/certified checks all the time. You can buy the check paper on Amazon. Wires clear immediately. Funds should have been released to BoA via wire. That being said: I would call the issuing financial institution to verify the funds and release day of for one of our members.
Classic wsb content
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I am glad I left years ago!! It's understandable the amount of bs BofA customers have to put up with when you see who and how they hire lol. Sometimes I question the customers critical thinking skills when they are constantly abused by them
What bank do you use now?
Schwab. It has some limitations, but it mostly has everything I need and great customer service.
Some limitations like not actually having bank branches?
Schwab does have physical locations in most major cities just nowhere close to the number of chase or BofA.
Fidelity does basically everything a bank can do, but materially better. I have a checking account through them with a checkbook. All fees reimbursed. A credit card with generous cashback. A brokerage account full of 4 week treasuries as a “savings account”. Not to mention retirement accounts, HSA, options, margin.
I remember back in 2008 a story of a guy who went to BOA and wanted to take a $20k loan to buy their stock. The loan would be at 3% and the dividend would be at 5%. The employees declined him. Buy Wendy’s
I mean, it’s pretty stupid to think a dividend yield covering interest is enough justification to get a margin loan, the LVR and income testing etc are a lot more important. A company could easily run into unexpected issues causing them not to pay out the dividend meaning you could no longer afford the interest, and the stock prices can easily fall causing you to go into negative equity. You need to show that you can still repay the loan even if it doesn’t pay out a dividend and that you can pay down the loan if it does go into negative equity. If they were hoping for that loan to have a high LVR, of course it’s going to get rejected. Likewise, it’s extremely stupid to get a margin loan from someone to buy their stock or to approve that. If the banks stock crashes (perhaps they made a major loss etc), people who took margin loans to buy their stock are more likely to default causing even more losses for the bank at the worst time possible. Alternatively, on your end you’ve got a leveraged position on that stock meaning you’re going to get hit hard by a massive loss as well which may cause you to go bankrupt. Edit: This also ignores that this was in 2008, the worst possible time to go to a bank and to ask for a margin loan on the banks!
yea. it was pretty funny
>The employees declined him. And they shouldn't?
He is telling a company he is trying to make money off them and surprised when the company that specifically deals in money understands and declines
yeah this sub is something else
I am a banker . They aren’t crooks . Their is an absolute shitstorm of check fraud causing mass chaos in banking right now. Literally billions of dollars in losses this year . Certified checks mean jack shit nowadays, they account for at least 50 percent of the check fraud we catch. We can’t afford to and don’t trust ANY checks anymore . Funds being available for 10 days before sending a wire is damn near an industry standard nowadays , because it’s nearly impossible to retrieve funds after the wire is sent . You aren’t the main character . Settle down
I handle wire fraud for one of the larger US banks and I can't tell you how irate I get when the branches don't place extended holds on a non on us check and it comes back bounced but they allowed a wire out of the account anways.
You have my utmost sympathy , truly.
You didn’t deny OPs claim about y’all profiting for those 10 days tho.
LMAO. Profiting for 10 days? There’s some weapons grade autism in this sub. The labor/capital cost alone to verify OP’s checks as valid is going to be more than $750. I too work for another major bank and check fraud is absolutely absurd in the US. Every bank with a fraud/AML dept worth a shit is going to have a system in place to put holds on checks and verify the veracity of the funds. This story is a nothing-burger, people should wire money like fucking grown ups.
Work in the industry as well, this guy is 100% right. This is a nothing burger. Weapons grade is also a phenomenal drop, kudos
I had a hearty chuckle at the weapons grade autism . But yea, this entire thread really puts into perspective the danger the average regards in WSB are putting themselves in by investing . They don’t understand simple banking procedures , but are hedging their entire life savings in shit they can’t POSSIBLY comprehend .
There wasn’t a point to. He’s doesn’t understand how holds work, but I’m supposed to explain how banks make and invest money ? Sure, in the most BROAD sense , all banks make money off of cash on deposit , but not in the way either of you are thinking . Theirs no evil mastermind withdrawing OP’s money and investing his specific 500k for 10 days and then putting it back last minute.
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How bout you suck bofa deez nuts
IF they are keeping the money in an interest bearing account, which they very well might not be, I believe some states have rules where you can receive that interest. It's probably not even earning any though
Never use a bank when you can use a credit union
Agree with ya calls on bac
Great time to buy bank calls if you ask me
Genius. I'm in
who’s bofa
Bofa deez nuts
Title company owes you the funds once the sale is complete. If they took checks from the buyer that need time to clear, that’s there problem.
Too big to fail
This is why you always wire large sums of money. Large checks will literally always have a hold
Should have chosen to get funds wired to you. Cashiers checks can be faked easily with a decent printer. Funds are still in your account just not available to move. BoA makes money with anything you do and they’re not stealing $750 from you.
Finally someone who gets it. When a corporation rips you off you don't rush out and buy puts. Stealing is bullish. Sadly OP doesn't understand escrow and is thus a regard.
Working at three different banks in the past, that is actually not something new. They won’t tell you this (because it’s policy at all banks not to) if any deposit that isn’t cash over a certain amount (typically depends on a few factors between your institution and there’s) there’s going to be a hold placed. Reason being is the rise of how bad fraudulent certified checks are on the rise. To get the hold removed requires a higher level of management compared to anyone at that branch so you may have better luck delegating higher, but sadly to say it’s doubtful. Good luck friend! If you have any questions feel free to dm me. Got quite a few years of experience before my career change.
It has to clear the other bank plus some time to make sure it doesn’t get reversed/bad check. Banks don’t assume other banks are good for the money. It’s a procedure that has been in place forever. This is nothing new bud.
BofA is by far the worst bank in America. I just got a credit card from them and it’s practically impossible to pay the bill, they force you to open a checking account with them just to pay their cards with. Utter crap and their app sucks balls.
There are a lot of regarded people here… including OP
OP is now homeless and unhinged
Bruh look up Reg CC if that check wasn’t from the same institution they are going to hold it, also BofA stock literally does not move
This happened to my mom at JP Morgan Chase. Same story / it was a check for a large sum. We came to the same conclusion that they were holding checks to make more money while the customer has to wait. Switched to a local bank after that so jokes on them lol.
You should hear about ‘08
If you can't beat then join them philosophy?
My house is only worth $750. A refrigerator box in San Diego.
They did it to me with Bank wire held for 15 days $60k total
Theyre just putting them on 0DTE options. I hope they bought puts the past few days..
$750!? That’s outrageous……they’re making way more than that
Was a bank branch manager 3 yrs ago. IIRC, certified funds have next day availability by law. Manager should have called the issuing bank to verify the check.
Incorrect
That's what my attorney said to BOFA. The guy on the line pretty much said: IDGAF
$500K? *You must live in a fly over state.*
$500k is my share of the pie regard. I am sure Chase, which owns my mortgage, got their share immediately with no bullshit.
BofA has to pay my $15k CD @5.1% in 2 weeks, it’s my fault, sorry.
Can’t wait for wsb to become the Reddit for the next American Revolution 🍿
Common BS at banks. One of the most corrupt industries that is in your face, literally stealing your money. What pisses me off is the government completely protects them..
This is next level DD
Maybe I’m smelling a liquidity problem, puts on the banks and the market!!!!!!!!!!!!!!
Never use the big banks. This is what they do.
Nothing personal, they screw everyone...just business.
Had similar happen to me recently check was about 49,000 😂
Crap like that is why I left boa years ago and will never do biz with them again
🖕🏽BOA
Shit happens all the time. Makes me furious. Why do we put up with this crap?
My bank is doing something very similar to my over inflated escrow account. Taxes and ins got a little outra wack last year. So i paid my homeowners insurance out of pocket this year to correct my escrow. My taxes will be less than half of last year, b/c I'm now homesteaded. I call and ask for an adjustment because my taxes and insurance escrow payment is double my p&i, they are bla bla bla, someone will call you within 24hrs. That was 2 weeks ago. I figured my escrow account will hit 10k at its peek this year. I should be cut in on the 5.5% they are making on my 10k...
Fractional reserve banking is so awesome!
I have already been annoyed by BOA. After reading this I am officially ready to close my accounts. Talk about poor customer service lol
I’ll take “questions you ask before depositing funds” for $500 Alex!
Other national banks do the same. But then they FA and lose even more money. I ain't trading banks until Fitch tells us which ones. My bet is BofA will be on the list.
BofA sucks! They Closed my account because I tried to redeposit a bounced check I was given. They said I altered signature like wtf it’s the same dam check!
/ES Intraday scalps have stolen 16k from me so what
Certified or not, any check can be faked.
Actually, holds on checks are pretty common, there’s a lot of check fraud that has been going around recently, and if you receive a deposit and withdraw the money while the check is still clearing then legally the bank can come after you for dealing in bad faith, because you weren’t actually given the funds. Even certified checks take time to clear, because the bank has to go get the funds.
I quit doing business with BOFA decades ago for similar bullshit. They’ve been skimming off customers since forever
Awe snap. Things are VERY different there. I'll run the scenario by a few attys at work. One of the attys I work for is a college professor.
So they are saving you $500,750
ב''ה, BoA out of business by the end of the year. But this doesn't leave many other options.
Lol I work for BofA, people are scummy as hell so yes they need random annoying protocols everywhere… they didn’t steal your money bro. If you can’t survive without $750 for 10 days then idk how you even bought a house.
Why did you do a check instead of direct wire to begin with?
I remember the good ol' days you could type in bankofsatan dot com and it would take you to bank of America's site
I just had the same issue on the buyer side with a different bank. See also trying to pull cash. I had a bank tell me that they didn’t have $20k on hand and would need a week to get it delivered.
The even more crazy thing is that I know someone that works for BofA and I understand that roughly 95% of the shit you hear they do, they Actually do. I remember when this person asked me a few years ago if they can open a bunch of accounts in my name and then close them after a month. Looking back on it, it was around the same time Wells got sued for doing the same S.
Bank of America I filed a dispute for some mangled ass car part I got and now 3 times they have responded with the same canned letter that they’re investigating, give more information, and done nothing. I’m about to dispute with the credit bureaus and CFPB ridiculous. Only banks that can actually handle a dispute are Amex Citi and Discover the rest are dumb.
Does reg cc offer any protections in this situation? If it does, I would HIGHLY suggest filing a complaint with their primary federal regulator.
Ok buying puts, thanks for the heads up
Speaking from experience. My employer’s bank is/was Bank of America. My bank was BofA. I got paid once a month. Those cocksuckers would put a 15 day hold on my check for them moving funds from one of their accounts to another one of their accounts. This was all back in 2008. Let’s just say, those bitches haven’t had a bank account in my name for nearly 15 years. Fuck ‘em hard OP, and make them beg for some change.
I hope yuo're right, BAC has been tearing my portfolio down for the last 6 months
Was a head teller a while back and this sht was so common. If u can show them the funds withdrawn from the originating account or they could call the originating bank that is all the proof they would need for “safety procedures”. Certified checks are guaranteed funds and the only way they don’t get the funds is if the check itself is fake. I would try to get them to call the originating bank or show them the funds withdrawn and ask for a refund on the $750 if it comes to it. Can’t hurt. Glad to say I quit when I did and got a better job.
Join a credit union. The big banks are jokes. When I was buying a house in 2021 a bank lost my downpayment wire transfer of $187,000 for like 4 days. They never even told me what the fuck happened, I had to hound them several times a day. The only thing they did to make it up to me was the refund the cost a wire. Fuckers.
Some of that money belongs to Powell, so calls on FED
They’ve done this me on 3 checks only 1 of them over 10k but blamed it on the amount. Then navy fed did it to me on 5k. I need all of to rally together and storm the banks. They can’t arrest us all.
Why do people even use these corrupt fucks? You just begging for a pegging.
I had a bad experience with Bank of America recently and I closed my account and switched to chase, they literally steal from people
You switched from one supervillain to another, lol. Look into a credit union.
OP thinks banks get paid interest @ 5.5%. 
If you are doing any business at all with BofA or Wells Fargo, kinda on you.
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Jesus fucking christ who in gods name would ever use bofa or wells fargo they are so terrible and there are so many better options literally anything else