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Bank of America

Discussion in 'Money & Finance Forum' started by SilverSurfer, Feb 7, 2010.

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  1. Feb 10, 2010 at 3:37 PM #31
    Golden Hammer

    Golden Hammer South Pole Elf

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    BA will cash a check that is drawn on BA for anyone, or a check that is drawn on anther bank for account holders. Why should they cash a Wachovia drawn check for a Wachovia account holder?
     
  2. Feb 12, 2010 at 1:36 PM #32
    Plate Dad

    Plate Dad It is what it is!!!!

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    Your are correct they will cash checks drawn on an account at their bank. Thing is they will charge the person cashing the chack if they do not have an account with BA. Some contractors that I do business with are very small one/two man operations. I do not dictate to them on how they run their business affairs. I insure that their insurance is in good standing and they preform the task as requested. After that I could care less. As for mine. Have a few accounts in connection with my business. Each with a purpose. It is the times that they place holds on checks that are in the few thousand dollar range that it becomes a problem. You put out several thousand for materials, run payroll then get paid. All but to wait ten more days for your money. Oh in the meantime next project starts and dollars are being required for that also.
     
  3. Feb 12, 2010 at 1:42 PM #33
    Golden Hammer

    Golden Hammer South Pole Elf

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    Go to the bank checks are drawn on, cash them, then deposit cash in your own account that is available next day at the latest.
     
  4. Feb 12, 2010 at 2:04 PM #34
    chipshot

    chipshot Full Access Member

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    We had the check holding problem with a small regional bank. We changed to Chase in order to get better service. It's not just a Bank of America thing to put a hold on checks.

    and our check was coming from another bank...
     
  5. Feb 12, 2010 at 3:14 PM #35
    VA49er

    VA49er Full Access Member

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    The holding problem should be getting better with the beginning of Check21 several years ago. Basically did away with float.
     
  6. Feb 12, 2010 at 3:35 PM #36
    Golden Hammer

    Golden Hammer South Pole Elf

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    Yeah..it reduced the risks for the bank, but so far some banks have been aslow to pass on that clearance speed to customers. Let's face it, 10 days is plenty of time to clear a good check the old way.
     
  7. Feb 12, 2010 at 5:15 PM #37
    VA49er

    VA49er Full Access Member

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    I agree.

    I do like that I can do wire transfers from BofA's website. Pretty cool feature consider last time I checked some banks charged a shit load of money for in branch wire transfers.
     
  8. Apr 2, 2010 at 8:26 AM #38
    hernandez9039

    hernandez9039 Junior Member

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  9. Apr 2, 2010 at 5:27 PM #39
    SilverSurfer

    SilverSurfer Son of Anarchy

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    Go to hell.
     
  10. Apr 16, 2010 at 6:25 PM #40
    kickazzz2000

    kickazzz2000 CURRENTLY ON THE CAN

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    Thanks a lot, Goldman---BofA blows earnings out of the water and their stock's down 5% today because of you.
     
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