Chris
Wichita,#2Author of original report
Fri, February 10, 2006
I do hope that you gained some satisfaction from your insolent reply. Your arguments are fallacious. The bank policy as stated was written with the intent of receipt of mails with payments on the account. Payments received by 1500 p.m. eastern are credited that day if they are in order with proper check, coupon and address. The processing center is not open Saturday or Sunday, therefore Friday is the last day the processing center can receive a payment before the due date on the weekend. We can decuce that they receive their mail before 1500 p.m.ET. And if not, How convenient for them. "However cash payments may be made in person at our banking centers only". I do credit BOA for this option. A cash payment is an immediate transaction. They cannot say that they have to process anything to be in receipt of the funds. A cash payment before close of business can be nothing less than a receipt of funds on that date. To post-date a receipt is Faud, regardless of bank policy. To slam a customer for late fees when a cash payment is in their hand before the due date is an incredible abuse. The statement said the due date was on SUNDAY, which is after FRIDAY. I wonder if BOA is treating all deposits in this manner. Yes I know what to do, Take my business elsewhere and register my disgust with their antics. Payment was made in cash before the close of business prior to the due date. I find no explicit language excluding cash payments from rules of common commercial exchange.
D
Naples,#3Consumer Comment
Tue, February 07, 2006
You never said at what time you made your payment. As the Manager informed you, if you went into the BOA Branch After 2:00, or in other words 1400 your payment, as well as any deposits be it cash OR checks will be credited the FOLLOWING BUSINESS DAY. Which in this case a deposit or payment done on Friday AFTER the cutoff time of 2:00 will be credited on MONDAY NIGHT. All this information was in the information you recieved when you had opened the accounts. To avoid the problem in the future, you know what you need to do, don't you. Incase you don't, you will need to make your payment Before the cutoff time. Please respond.