Question:
I got a bonus check from my company. I use Wells Fargo Bank but did not want to deposit there, because they may put a hold on it for a day or so. SO... i went to Bank of America where the check was from. They charged me $5 to cash it (and did not tell me until they gave me the money). If I had cashed the BofA check at Wells Fargo, it would not have cost me any money, but because I cash THEIR check at THEIR bank, I have to pay. Guess that is why I do not use Bank of America!
Answers:
I know it sucks but I'm with Bank of America. Trust me...this policy is universal. I have cashed checks drawn off U.S. Bank at a U.S. Bank and they still charge me for not being a customer of their bank.
Everyone has a way to squeezing extra money out of people...banks such as Bank of America and U.S. Bank just found their way of getting away with it.
I don't agree with the policy...but what can you do besides deposit it in your own account at your own bank and wait.
OR...if you have been a really good customer with your own bank and have never overdrawn our bounced checks...then you may be able to deposit a check drawn off another bank (within a certain dollar amount) and ask them not to place a hold on it...or at least not the entire amount. Bank of America has done this for me several times.
Good luck!
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