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Justin Pritchard

Bank of America Improves ATM Deposits

By March 3, 2009

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Bank of America already offered one of the more advanced ATM deposit systems.

They allow you to drop a check in the ATM without any envelope, the ATM reads information from the check, and your receipt shows an image of the check. However, what if you don't want that image and receipt? Eliminating the hassle and security risk of paper is the whole point of automation.

In the past, you could not view images of checks deposited at ATMs. However, Bank of America recently gave customers the ability to do so. This is a nice step towards encouraging customers to do things when and how they want - at a lower cost to the bank. [via fivecentnickel.com]

Do you make deposits at the ATM? How do you like it and who do you bank with? Tell us about it in the comments.

Further reading:

Comments
March 15, 2009 at 9:57 am
(1) David Black says:

Sadly, these devices don’t work reliably — which means, in effect, they don’t work. I’ve just closed my Bank of America accounts because I didn’t feel like going back to standing on line inside the bank, due to the machine being unable to read my checks.

I got a certain amount of “Are you sure you did it right?” stuff from the staff at the bank. Yes, I am sure, and I tried it many times. I have one monthly check in particular — a normal, printed corporate check — that it never read.

This is technology-driven decision-making at its worst: ignore the customers’ needs and just do whatever looks cool and spiffy. Have fun with your new toys, BoA, and good-bye.

May 26, 2009 at 5:15 am
(2) Mike says:

Bank of America’s new deposit idea with their ATM’s is a disaster! This evening, I had to make a deposit of 350.00 in ca$h. I went to my branch which has 3 outdoor machines. 2 Drive ins and one walk-up. I inserted my card and punched in my PIN. I pushed the “deposit” button, and it asked CASH or Check. I punched CASH.I inserted the cash (3 – $100 bills and one 50.00 bill) in the proper direction and the door closed. It accepted only ONE of the 100.00 bills and flipped the other bills upside down unaccepted. I re-inserted them several times to no avail. I went to the other drive up machine, and after several tries, got it to accept the 50.00 bill. Then, I went to the walk-up machine, (Which I don’t like to do for fear of being robbed) and tried to get it to accept the 2 100.00 bills. After several unsuccessful tries I gave up.
I went to a lounge in the neighborhood and had a couple drinks, changed the 2 hundreds for new ones and went back to my bank at Flamingo and Sandhill.
Neither drive up ATM was accepting cash…..Only checks. I went to the ATM on the side of the building..It was accepting cash but not checks. It would NOT accept my ‘new’ bills either.
I drove to the only other ATM’s in the neighborhood at Harmon and Boulder Highway and tried both machines there. Neither would take my money. I wasted over an hour of my time and a couple gallons of gas trying to perform a 45 second task. there is NO OPTION to do it the “Old” way using an envelope and a deposit slip.
This system SUCKS Big Time. Diebold equipment sucks! This system was NOT properly tested, and, a lot of people will be very upset with the wasted time and total inconvenience of this new system.
I will be willing to bet that BofA will be soon charging customers to use tellers in the very near future. I also see the day when there will be no tellers. So much for stimulus funds putting people to work and preserving the economy and the people of this country.

June 14, 2009 at 12:22 am
(3) Mark says:

Chase switched to the same Diebold “no-envelope” ATM’s that BoA switched to. In the past month the same ATM I frequent jammed once because of a single personal check, and today because I put in a $20 bill, $10 bill, two $5 dollar bills, and eight singles. A total of 12 cash items jammed the ATM. My sorrows go out to someone who tries to deposit the advertised 100 cash items at once. I guarantee they’ll be on the phone with chase customer service filling a claim like I’ll to do AGAIN to get my money deposited.

Not only do they jam easily, I spend a lot more time at the ATM trying to get it to accept everything

I like the idea of the new ATM’s, but the execution is very, very bad. Luckily I have a bank account at the National City across the street that still uses the envelope deposit system that I have NEVER HAD ANY PROBLEMS WITH.

July 20, 2009 at 10:11 pm
(4) james says:

Bank of America ATM screen at my neighborhood food store changed to show the ATM was not working in the middle of my deposit of multiple checks. No return of my plastic banking card or of the checks the ATM had taken from me.

I sent a text description of this performance to BofA by secure message in online banking 2 days later. BofA replied that BofA had no record of my transaction. An irresponsible outrage! What if I had deposited currency or requested a currency withdrawal when the ATM crashed? I do not now know if I can get the makers of those checks to give me duplicates. One should never trust a Bank of America to protect one’s interests in the simplest transaction. I recall
reading multiple news stories about customers receiving credit for less cash than the amount they had deposited into a Bank of America ATM.

August 3, 2009 at 1:01 pm
(5) lbulmer says:

I HATE the new ATM deposit system. I used to be able to put my checks one envelope and make the deposit. Now I have to stand at the ATM, doing one at a time. I usually only get to put one or two in before someone else comes up and want to use the machine. BOA says it’s easier. Maybe for them, it’s easier. It’s certainly not easier for me.

August 11, 2009 at 11:30 am
(6) Chris says:

I love these machines in Arkansas. I have not had a problem yet and it is much faster not having to wait in lines inside or slow tellers in the drive-thru plus the deposit is posted sooner than the old way.

August 13, 2009 at 1:02 pm
(7) Dan says:

I am all for the new technology, but the new atms are worthless because the softly is poorly designed. My perspective as a firmware engineer:

The key problem is no graceful fatal failure modes. If the ATM cannot read the check, it prints out a generic error message claiming your check is not valid. No mention of magnetic inks, etc. No number to call, not even a suggestion to go deposit it inside the bank.

On the other hand, it will show you the check and ask you what the amount is, if it is handwritten. I consider this a good feature, despite privacy concerns.

But, why do I need an error message at all? Why can’t the ATM fall back to legacy processing mode like it was a deposit-slip-less envelop ATM? Just print the account number on the check and throw it in a bin for manual processing. This would prevent the user from going inside the bank, reducing labor costs.

I called Bank of America and the customer service rep said she had heard no complaints personally about the new ATMs not accepting some checks. One online reference I found quoted BoA claiming 99.95% acceptance rate. With millions of checks every day, that’s a LOT of failures.

So what’s the bottom-line? For Bank of America, increased accuracy and reduced costs. Most failure cases are pushed over to the customer instead of the bank. For the typical customer, he will see increased accuracy and improved service. The problem is the atypical customer. The customer likely has no control over how checks he received are printed, so if it isn’t accepted, customer service quality plummets.

I think the argument that the ATM ‘usually’ accepts checks perfectly is flawed. From a customer service quality perspective, this is a bad argument. The only thing that matters is overal quality. If it fails 0.05% of the time, you decrease your quality by that much. And the customer is stuck trying to fix the bank’s problem. Previously, errors were either the user’s data entry, or the bank’s data entry.

I will leave BoA if the software isn’t improved because the abundance is ATMs was the only reason I use them to begin with. If I can’t reliably deposit the one or two checks I receive every 6 months, I might as well use a high-interest checking account where I have to mail my deposits, and get ATM fee reimbursement.

August 17, 2009 at 8:51 am
(8) geebee says:

BoA ‘improved’ deposits are a disaster for the consumer. Frequently fails to read checks, takes too long to process transactions, and is a poor attempt to drive down high-cost activities. Most people who deposit checks normally do a lot of other transactions at the bank and would eventually get fed up and leave. BoA, fire your MBAs before they re-engineer you to bankruptcy.

August 18, 2009 at 2:08 pm
(9) Lenny says:

I love it. Has never failed for me.

August 20, 2009 at 12:42 pm
(10) Jeff says:

I had 45 checks to deposit. It took an hour. Long line formed behind me. Sorry, not my fault BOA switched to this confounded new system. A couple of envelopes, used to take 2 minutes. Now typically 45 seconds to 1 minute per check if it reads it OK.

August 24, 2009 at 5:39 pm
(11) - M says:

Deposit automation, as it is called, is a highly reliable service for depositing cash and checks at BofA, as well as at most other large banks. The typical ATM machine with deposit automation costs near 40K per machine. The bank would not spend this money if the machine did not work. I personally use ATM machines with this service every week, and it has never failed to read my check. And if it does, the machine gives you the option to manually input the amount. All you have to do is read the directions on the screen. It, also, saves time. as well as the cost of paper envelopes which are used for one day and thrown out directly after your check/money is taken out. Try to comprehend the amount of envelopes saved in one day at every BofA branch across the country. Now add TD Bank and HSBC (two other banks leading the way with deposit automation deployment). I also would not consider a 99.95% acceptance rate “a lot of failures” for any process. That is one out of every 20,000 consumers. Of the roughly 14 million ATM transactions processed in 2008, this would mean that 700 people would have received error messages. 700 out of 14 million? I would take that if I was the decision maker BofA, or any other business. Not to mention banks actualy lose $250 per day on ATM machines given up front cost. ATM machines are there simply for customer retention. The more ATM locations in a given city, the higher probability the consumer will bank there (for fee-less ATM service). Which circles back to my main point. Banks would not deploy deposit automation if: 1) it was not economical and/or 2)it was agitating consumers. I realize everyone has bad experiences, but many had bad experiences with the old ATM machines, and there was a higher probability in 2008 that you had your identity stolen then had your check misread in an ATM.

September 2, 2009 at 12:22 pm
(12) B says:

I don’t know how I follow that up…

The ATMs are great. The pressure from BoA employees to use these great ATMs (even when there is no one waiting in the teller line but 3 people in the only deposit ATM line) is ridiculous.

Listen, I know the deposit ATMs are awesome and they can do anything…I’m sure they could probably watch my niece and nephew for me if I had to step out for a minute. The technology is amazing. But I want to get in and out of the bank as quickly as possible – even if that means going to a teller.

BoA doesn’t need a person working there just to try and convince me to use the deposit ATM as soon as I walk near the teller line.

I get it. It’s bright red for christ’s sake and it’s the fisrt thing I see when I walk in.

September 15, 2009 at 4:59 pm
(13) Mia says:

I refuse to use the ATMs for deposits, and I’m getting tired of having BoA try to force me to use them. Today the teller was disgruntled that I told her “I don’t like how the machines beep constantly,” and would rather wait in line than use them.

November 9, 2009 at 4:17 pm
(14) J Med says:

I walked into bank of America the other day and felt almost an intrusion of my privacy when the nosy bank lady came right over and said “what brings you into the bank today?!” in her most corny customer service sounding voice. I told her I am making a deposit. She must have been able to tell my irritation with her question because she then said, “I only ask because we are showing people our new ATM’S”. I was a little less irritated once I knew she had a purpose and they had something new. I’m like a kid that way. So I went out there and she showed me the new ATM and the way it scans the check, no need for an envelope, and it even prints out a copy of the check on the receipt. Pretty neat. The next week I was dropping by before work to make a cash deposit, and the experience wasn’t quite as convenient. It took me 35 minutes to deposit 140.00. It spit my bills out at least 5 times, saying it could not accept them. Something like a vending machine. I wrestled with it to then get my bills back out as the trap door kept shutting. At the same time, it’s asking do you need more time for this transaction? Obviously I need more time, as you’re not working! So finally it accepts my bills and the options are “add cash”, which I’m thinking means “add this cash to acct”… so of course I say yes, it opens and expects more cash, in which I hit cancel, so once again- it spits the original bills back out. And I’m back at square one with trying to get it to accept the original bills! It was a total disaster. The moral of the story is big deal that we can do it without an envelope, at least back then it took one quick transaction and there were no problems with the bills. I’m highly irritated they probably spent millions of dollars on something that worked completely fine already. If it ain’t broke, don’t fix it. And if they are so high-tech, maybe they should start having the ability to write tardy notes for your boss when you’re late because it took an hour to make a deposit!
If it ain’t broke, don’t fix it!

November 29, 2009 at 3:56 pm
(15) dfw says:

On more than one occasion I have been in stalled ATM lines watching people deposit check after check one at a time. If you have a lot of checks and don’t wish to be in other bank lines why not just place them in the night deposit.

December 28, 2009 at 1:33 pm
(16) Avg. Int says:

How old are you guys? I don’t understand why you can’t adapt to this brilliant system. You’re either too young and think you know everything already — or are too old and don’t get technology. Either way, take some personal accountability for your issues instead of blaming BoA. Also, stop whining about it in online forums.

December 31, 2009 at 10:43 pm
(17) Leigh says:

For depositing multiple checks it is HORRIBLE. My time standing in front of the atm is now multiplied by the number of items i have, so i feel much less safe, plus it does NOT WORK. B of A’s atm flat out stole 4 of my 8 checks i was depositing…on the bottom of my receipt it said “Sorry, some of your items could not be processed or returned. Please contact your financial institution.” 2 weeks later, they still can’t find them! 45 minutes on the phone today got me a “temporary credit” while they research my “claim”.

their thieving atm should not be my problem to fix…the new system is a customer frickin nightmare!

i NEVER had even one problem using an envelope.

January 23, 2010 at 4:26 pm
(18) Cori says:

I love the new no-envelope deposit machines! I can imagine that it would be time consuming for several checks, and I’d probably rather go to a teller if I had a very large cash or check deposit anyway. I’ve never used the ATM for more than a couple checks at a time and about $400 cash (20 bills), and I’ve had no problems so far (fingers crossed). Its about having options and I think this is great for after hours and small quick deposits. And I like that contrary to envelope deposits, my funds are available right away.

February 4, 2010 at 9:36 pm
(19) Christine says:

The new envelope free ATM deposit feature has worked great for me, only a couple of times where a 20 dollar bill was rejected.

I’m all for saving the excess paper too!

One thing though, there’s much to be said about banking local. Keeping the loan & saving interest in your community/region is a lot better than letting the big ‘ol BofA CORP. get it.

February 21, 2010 at 4:18 pm
(20) Jerid miller says:

I have to yet have have an issue with the new system taking a check. The biggest problem i have is finding the Deposit option available it has never worked in Brunswick Maine and did not work when I tried to use the one in bath or portland. Nice, maybe Navy Federal has a better servce, I will soon find out.

April 13, 2010 at 4:41 pm
(21) Jackie says:

To all the people who love the ATMs – a problem will happen to you, too, it’s just a matter of time. ATMs are not owned by the bank you’re depositing, they’re contracted out to “third parties” – so lots of luck if you ever deposit cash and the machine malfunctions! You will have to wait 45 days for the bank to ascertain whether or not you made your deposit. Rotsa ruck!

April 27, 2010 at 5:42 pm
(22) Jerry says:

I used this new ATM today and piss me off. ATM ‘eat’ my 4k tax refund check without any transaction record. you will have very high chance to lose your check by using these new machine.

July 2, 2010 at 12:35 pm
(23) Anthony says:

Sadly, CHASE switched to these as well and many people I know personally have had issues where it takes the check, doesent acknowledge that it took the check, and then gets in a stall state where it just ends the transaction. I had to call the manager the next day to find my check and deposit it. These things don’t work and whoever designed it needs to go back to the drawing board.

August 2, 2010 at 2:28 pm
(24) llp says:

On Saturday monring, I put in 5 $100 bills and 6 $20 bills, it said it couldn’t accept all the bills and when the door finally opened, I could only retrieve one $100 bill. The rest of the cash was stuck in the device that put it through the counter. Luckily I grabbed the loose bill out before the door closed, but it didn’t process the rest of the cash at all. I had to go in the bank. I had to wait for an available person. They had to find out what to do. They finally got a number and called it. I gave all my information and explained what happened and all I got was a claim number. They are not even going to look at the machine until Monday sometime and I won’t know if they found my money until Tuesday!!!! This is totally unacceptable customer service. They should have credited my account immediately and then resolved it. I will never use the ATM again for cash and I’m closing my B of A account and going back to my credit union.

August 12, 2010 at 10:15 am
(25) Jesse says:

These new check deposit systems are horrible. Now it takes much longer to deposit checks, and half of the time, it doesn’t even scan the amount. So if I am sitting there depositing a few checks, insert one, and the machine cannot read it, I need to remember the exact amount, which is not easy when there’s more than one check. I also notice that my wait time goes up considerably at the ATM when someone is depositing more than check. The new system sucks and it’s a major inconvenience. BOA advertises that it’s easier for the customer, but it really makes the banks job easier and frustrates customers. If they do not go back with the envelope deposit method soon, I’ll be looking for a new bank. That kind of sucks, because I’ve been a BOA customer over 10 years.

December 13, 2010 at 10:26 am
(26) Fahad says:

I was at a Bank of America ATM and was trying to make some deposits via ATM. The check was accepted promptly but the ATM would not accept $100 bills. It was quite frustrating.

December 29, 2010 at 3:52 pm
(27) Anthony Corpus Christi,TX says:

Not Happy! Currently unemployed, let go from my place of employment of 10 yrs. I requested a small amount of money from my 401k. This took more then 2 weeks. Imagine my excitement Dec.24th finding it in my mail box at 4PM. 1st things 1st let me deposit this check into the ATM. I’ll be able to buy christmas gifts and pay my bills. At the ATM I’m only allowed to use $300 of this check. Thinking alright this is great, plenty for me to use till the check clears. Dec 25th using my iPhone BOA app. I find my checking account is -$281.00. I’ll have to wait till Monday to find out the check was sent back to me via postal mail. The name on the check did not on my account. I use my middle name and the name on all my pay checks for the past 8 years from my employer matched the same as this check. I am waiting for my check to be mailed to me from BOA home office (10-14 days) . A simple phone call, or even holding the check for me at the local branch blocks away from my home would have saved me a lot. My checking account is now negative over $400. This is the letter that was emailed to me along with the copy of the check.

Dear Valued Bank of America Customer,
Thank you for your ATM deposit to the above account for XXXX.XX. In reviewing your deposit, we found an item where one or more payee(s) are not listed on your deposit account. We have adjusted the deposit total and $XXXX.XX has been deducted from your account.
We have provided an imbedded picture(s) of your deposited items(s) below for your reference. We are also including information to further explain if we have enclosed a substitute check or will return the original check to you.
Should you have any questions about this or any other transaction on your account, please contact us at the Customer Service telephone number on your Bank of America account statement.
We appreciate your business and look forward to continuing to serve you.
Sincerely, Bank of America, Shared Operations Services

January 1, 2011 at 3:01 pm
(28) Mimi says:

I’ve observed that about one out of every ten checks I deposit via the ATM is returned as “unable to read” and I’m required to input the amount with the key pad. This new system takes me more time than the old way of placing all the checks in an envelope to insert into the ATM. Since I always use the ATM when the bank is open, if the machinery doesn’t work right I can always run screaming into the bank — and have done this once. Problem was straightened out immediately.

January 27, 2011 at 12:08 pm
(29) Kim says:

Yes, they work faster than if you went to a teller to deposit money cause typically your account is credited the same day and time you deposit it.

However you must be very careful as with machines they are subject to fault. I had an issue with a Bank Of America Machine. I deposited $65 then it asked if I wanted to add more cash and I decided to add all of my ones I had on me. It couldn’t count all the ones I had and wouldn’t give them back. Then it asked me how many ones I put in. I didn’t count them because I figured the machine would do that for me. So I had to guess how many ones. Then I pressed enter. It only credited me for the ones. Now where did my $65 go? I had to call the fraud department the next day to submit my claim.

This isn’t bad however in order to do anything with my account I have to call in since my account is with Military Bank of America and not just Bank of America.

February 17, 2011 at 3:10 am
(30) Kamil says:

I have been using the new BOA ATMs that take deposits without an envelope for years now. I have deposited tens of thousands of dollars in cash and countless checks. Once it had an issue with a bill that it didn’t return but it got deposited to my account with no problems. Occasionally it returns old bills, sometimes it takes them when you feed again and again, at times it doesn’t take a bill no matter what. But in general, they work very well, I am very happy and prefer these to older ATMs. Sometimes it takes a long time if you have to feed checks one-by-one and people get irritated if there is a line but that’s a rare issue, they have multi-check deposit ATMs in metropolitan areas to avoid that issue.

February 17, 2011 at 10:19 pm
(31) Bonnye says:

Will NEVER use the ATM deposit machine for cash again, no matter how they urge me to do so. One week as an account holder, so I try the cash. It ate $140, gave me no documentation or credit to my account, and now claim will take up to 10 days for the $140. What? Are you kidding? Never again.

February 23, 2011 at 12:32 pm
(32) Dianne says:

Ten days for cash? You’re lucky if that indeed happens. I’m dealing with an issue regarding a check we deposited a month ago. They will not return the original check to us, have not deposited the money into the account, and will not allow us to file a claim on the check. The claims department just tells us to talk to the local branch. The executive office, at this point, has been no help whatsoever, they just drag their feet and let time go by. The only problem with this check was that the printing on the check was rather light, so that even though the scanned image shown by the ATM showed all the printing, apparently the machine could not read it. The copy which they sent to us did not show the printing, so even though the copy stated that we could take it to the bank and cash it, they would not honor it. You can see that there WAS printing, you just can’t make out what it said. Their solution, at this point, is to have me contact the sender of the check and have him issue another one. The expense of all of this is to be absorbed by us, the account holders. This check, by the way, was an international cheque, purchased from a bank in Australia, exactly like a cashier’s check would be here. There is no way that it could have been insufficient funds. Chase’s refusal to return the original check is leading us to believe that they have already gotten the funds from Citibank, yes, Citibank! long ago, and are simply playing games with our money. We are filing formal complaints. Good luck to you…

March 9, 2011 at 5:30 am
(33) M says:

Chase atm only accepts one bill at a time. If some people here would simple read and follow the on screen directions. You will do fine. There is always a limit to the machine.

April 21, 2011 at 11:59 pm
(34) Korey says:

I think the Bank of America ATM’s are cool, they seem like the most advanced in the country so far, I think the non envelope ATM deposits are a good thing, they may be more of a hassle but it looks like they can reduce ATM fraud, with all the changes they made between Declining debit card purchases when you dont have enough funds to the money they can save by reducing ATM fraud they probably wouldnt have to raise interest rates on loans or anything else like that, well thats my opinion at least im not sure if thats a fact.

May 23, 2011 at 2:20 pm
(35) JD says:

M says it all.

That is 99.9 percent of the machines problem is the machine font is a 36 and no one reads it.

July 28, 2011 at 9:55 am
(36) PJ says:

i gotta other new idea of deposit…

September 6, 2011 at 4:30 pm
(37) Fritzie says:

If your check gets stuck in a BOA ATM machine, DO NOT BOTHER TO AN OPERATOR because they’ll ONLY TELL YOu to WAIT FOR 10 BUSINESS DAY for INVESTIGATION. SOLUTION: ASK FOR THE BRANCH MANAGER WHERE YOU Deposited your Check & HE/SHE should b able to TAKE CARE of IT RIGHT AWAY.

November 12, 2011 at 12:18 pm
(38) Demi says:

I love it. It’s always worked fine for me. Plus I hate standing in line inside the bank for hrs.

December 29, 2011 at 8:24 pm
(39) Edwin Williams says:

I personally love the new Bank of America ATMs. It works for me, and I’ve never had any problems with depositing checks at all (it scans and reads my checks successfully, and I love how it also prints the image of the check right on the receipt). I’ve always use ATMs to avoid waiting in long lines inside the bank for hours and hours. Using ATMs saves me time and frustration, and I don’t need any envelopes or deposit slips to make deposits (I also have the eBanking checking account, which is designed for customers who bank at ATMs and online, so this account is perfect for me).

December 29, 2011 at 8:26 pm
(40) Edwin Williams says:

I bank with Bank of America and I personally love the new Bank of America ATMs. It works for me, and I’ve never had any problems with depositing checks at all (it scans and reads my checks successfully, and I love how it also prints the image of the check right on the receipt). I’ve always use ATMs to avoid waiting in long lines inside the bank for hours and hours. Using ATMs saves me time and frustration, and I don’t need any envelopes or deposit slips to make deposits (I also have the eBanking checking account, which is designed for customers who bank at ATMs and online, so this account is perfect for me).

February 21, 2012 at 4:46 pm
(41) Kyan Mccartney says:

Im grateful for the blog article.Much thanks again. Fantastic.

January 12, 2013 at 1:12 pm
(42) Pat J. says:

I deposit cash and checks at a teller. I use a local bank so that I don’t wait in line.

February 22, 2013 at 6:40 am
(43) sam sam says:

Im cancelling my account with these jokers its the 5th time now that they have put me on a stupid goose chase with cashing checks…I dont care about waiting in lines as long as the bank tellers/atm can actually do thier jobs…Ive simply had enough of thier games and having to cash checks at a friends bank (Redwood Credit Union) theyve never played monkey games with him ever in 20yrs…

May 5, 2013 at 12:10 pm
(44) Gigi says:

These machines suck. I have no idea why they could not read a check that I just tried to deposit from another bank that was type written! So now I’ve wasted the time on a Sunday trying to deposit this check through the ATM and will now have to make a special trip to stand in line and have a teller do it for me. These new machines are solely for the convenience of the BANK, not the customer!!! Sucks. I’m looking for a bank with old-fashioned envelope deposit ATMs…

August 16, 2013 at 1:33 pm
(45) unhappy ed says:

BofA keeps dumbing down their tellers in the hopes that enough people switch to ATM’s and ebanking so they can close down MORE branches. !@#$ the banking industry as a whole…they make $$$ off of you letting them “hold” your $$$, then they screw up and lose a deposit right when you have a bunch of ACH, or checks about to clear. Why else would they hold ACH/checks for days when you have the $ in your account to cover them? So they can collect fees if you dont have enough to cover all your payments…They will clear the biggest amount so that they can have several smaller amounts bounce then collect many fees, not just one for the biggest amount. It takes BofA 5 days sometimes from the time my ACH (car payment) gets submitted to the time it shows up as taken from my account. Why? Every small ACH payment i make goes through in a day or 2. BofA is a bunch of crooks, like the rest of the banking industry.

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