Would not release my funds
Complaint
Monica
Country: United States
I made an ATM deposit of $6000.00 at Compass Bank. I called the same day to find out when my funds would be available since it was such a large deposit. I was told that they would not be available until the 11th business day since my account had been overdrawn more than 6 times in the last 6 mos.
I then proceeded to ask why I was not notified prior to the check being posted to my account, so that I could make the decision to deposit my funds at another institution and was told that I should be receiving my hold letter shortly, after the fact I might add.
I then said that I wanted to come back in and get my check to take it elsewhere, the representative told me that I could come pick it up, but I was put on a brief hold ,then told that the party who handles checks had already gone for the day. He then offered to call and get the check verified ,and once this was done, he would release the hold which let me know that this policy obviously is not one"written in stone,"and can be changed at the branch's discretion..
He asked that I give him a few days to get the check verified, and he would get back with me. I was then called the next day 7/25/07 by him and told that in order to verify the check, it had to be approved by the branch manager, who told him not to do so, they would be holding my funds the full 11 business days.
I was then instructed to call her, if I had any other questions regarding the matter. I was transferred to her voicemail and did not receive a phone call back. I then proceeded to the next level and contacted the Area/District Manager, to try to have the matter resolved at that level.
I am awaiting a call back. I want to also state that at the time of my deposit, my account was not overdrawn and no monies were due to Compass Bank, yet the Branch Manager would not give approval to have my funds verified or released.
I then proceeded to ask why I was not notified prior to the check being posted to my account, so that I could make the decision to deposit my funds at another institution and was told that I should be receiving my hold letter shortly, after the fact I might add.
I then said that I wanted to come back in and get my check to take it elsewhere, the representative told me that I could come pick it up, but I was put on a brief hold ,then told that the party who handles checks had already gone for the day. He then offered to call and get the check verified ,and once this was done, he would release the hold which let me know that this policy obviously is not one"written in stone,"and can be changed at the branch's discretion..
He asked that I give him a few days to get the check verified, and he would get back with me. I was then called the next day 7/25/07 by him and told that in order to verify the check, it had to be approved by the branch manager, who told him not to do so, they would be holding my funds the full 11 business days.
I was then instructed to call her, if I had any other questions regarding the matter. I was transferred to her voicemail and did not receive a phone call back. I then proceeded to the next level and contacted the Area/District Manager, to try to have the matter resolved at that level.
I am awaiting a call back. I want to also state that at the time of my deposit, my account was not overdrawn and no monies were due to Compass Bank, yet the Branch Manager would not give approval to have my funds verified or released.
Comments
THE WORST THERE IS!!!
Jp morgan sold the funds and holding my money in cash without releasing. i am asking for a check in the name of Fidelity. they ask some docs. every day which i gave them. They also contacted my H.R dept. and they give them the docs. they need. they will not return my calls or emails and still making excuses. Don't know where to make a complaint.