- Report: #175630
Complaint Review: BB&T Bank - Beulaville North Carolina
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BB&T Bank
Hwy 24 Beulaville, N.C. Beulaville, 28518 North Carolina, U.S.A.
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BB&T Bank ripoff Holding $15,000+ for 8 days Beulaville North Carolina
On Tuesday 2/7/2006 I deposited a check drawn on Etrade bank for $15,269.05, the bank teller said there would be a hold on this deposit, I asked why, she said because it was out of state. She gives me my deposit slip, and a slip that says they are holding $4900.00 for five days, and $10,269.05 for eleven days.
I check my Etrade the next day and my $15,269.05 has been taken out of my account, this was the very next day...2/8/2006. I told myself this can't be right, BB&T has my money, but yet there is a 5 & 11 day hold. I drive back up to the bank and ask the teller why they are still holding my bank, she says it because it was an out of state. The slip they gave me at the bank when I made my deposit said the hold was due to the deposit being over $5,000. I told her I can't believe that BB&T will hold my money even though it my deposit was credited to them the very next day. She was not very polite...I drove back home thinking this is just not right, they are not going to do this to me...
I moved here in early 2001, I immediately opened a checking account with four checks from a national well known company, she proceeded to tell me that my deposit totaling over $2000 would be held for eleven days. I held one check out, drove over to the other bank, they cashed one check with just showing my ID, no questions asked...I should have went right back to BB&T and closed my account out that I had just opened, I am stupid for not doing it, my fault.
I emailed corporate HQ's, but no answer. After reading the rip off reports, I already know what the answer will be. As soon as my deposit clears, I will march right back to the bank and close my account out, and will show them another $17,000 from Ameritrade that would have been deposited with them...They will not get my money, I have already contacted the other bank in town, they said there would be no hold placed on my deposit...They were glad to be getting my business...
Burned up in Beulaville...
David
Beulaville, North Carolina
U.S.A.
I check my Etrade the next day and my $15,269.05 has been taken out of my account, this was the very next day...2/8/2006. I told myself this can't be right, BB&T has my money, but yet there is a 5 & 11 day hold. I drive back up to the bank and ask the teller why they are still holding my bank, she says it because it was an out of state. The slip they gave me at the bank when I made my deposit said the hold was due to the deposit being over $5,000. I told her I can't believe that BB&T will hold my money even though it my deposit was credited to them the very next day. She was not very polite...I drove back home thinking this is just not right, they are not going to do this to me...
I moved here in early 2001, I immediately opened a checking account with four checks from a national well known company, she proceeded to tell me that my deposit totaling over $2000 would be held for eleven days. I held one check out, drove over to the other bank, they cashed one check with just showing my ID, no questions asked...I should have went right back to BB&T and closed my account out that I had just opened, I am stupid for not doing it, my fault.
I emailed corporate HQ's, but no answer. After reading the rip off reports, I already know what the answer will be. As soon as my deposit clears, I will march right back to the bank and close my account out, and will show them another $17,000 from Ameritrade that would have been deposited with them...They will not get my money, I have already contacted the other bank in town, they said there would be no hold placed on my deposit...They were glad to be getting my business...
Burned up in Beulaville...
David
Beulaville, North Carolina
U.S.A.
2 Updates & Rebuttals
David
Beulaville,North Carolina,
U.S.A.
My deposited check was presented to Etrade
#2REBUTTAL Individual responds
Fri, February 10, 2006
My check for deposit in the amount of $15,269.05 was presented to Etrade on 2/8/2006 by BB&T, Etrade would not have known to release the funds unless the check or account number was presented to Etrade. My funds were debited on 2/8/2006 when BB&T presented the check, or presented the account number. This is according to Etrade Bank today @3:10pm, they said the funds were not placed in another account, that the presenting bank takes control of the funds instantly...Not at a later date, this according to Etrade bank. We are not in the stone ages when it come to paper checks, technology today allows for instant debits just by account numbers. With an eleven day hold on my funds, counting the weekends, my funds will be tied up for 14/15 days.... I don't need the money, it just the principle.
Robert
Wallingford,Connecticut,
U.S.A.
Look at your account terms and conditions.
#3Consumer Comment
Fri, February 10, 2006
There should be a section in there explaining funds availability. Most checks for larger amounts have longer hold times. New accounts have longer hold times on funds within the first 30 days. Banks provide availability of funds based on banking regulations. Most times well before the bank actually receives the funds from the processed check. The longer hold times on larger amounts are to protect the bank from losses. Just because the funds were withdrawn from your etrade account does not mean that the bank you deposited the check received them. More than likely the funds were removed from your account and placed into an account that etrade has set up that the check was writen against. Until the check is presented to the issuing bank, no funds can be transfered. Had you been paid by EFT instead of a paper check, then the funds when would have been received electronically by your bank and available on the day it posted to your account. BB&T did not have your money. Etrade still had it.
