California man deposits $33K check in BofA account, never sees it again as branch closes 

The man's first problem was having an account at Wells Fargo. His second problem was having an account at BofA.

I was a bank teller for three years. If you're getting a Cashier's check or Money Order to deposit into your "other" account, it needs to say "Pay to the Order of YOUR NAME" on it. Never Ever have it in someone or some institutions name unless you're buying a car or actually paying someone else the funds. That is the fatal flaw here as the man found out. The teller that drew up the check should have asked him what he was going to do with it. If he said deposit it in his BofA account, it would absolutely be made out to him, not BofA. Please make a note of it.

The branch manager who told this customer "No, there's nothing we can do should be fired immediately!"

I made the same mistake six years ago. I transferred money from Wells Fargo to Bank of America and had the cashier's check made payable to "Bank of America" instead of myself. The difference with me is that the BofA teller noticed the discrepancy and had me go back to Wells Fargo with the check to redo cashier's check payable to me. Seeing this story makes me so glad the BofA teller I dealt with had me do that.

If the bank accidentally deposited $33k into his account and wanted to get it back and this man said, "sorry I don't know where it is...there's nothing I can do" he'd be in jail for YEARS!! This system is not fair at all! How is the bank allowed to do that to him?

That man has a lot more patience and composure then I would have.

I had a similar experience with a southern California BofA back around 2006. They took my deposited check and it vanished. I went back with the deposit receipt and they told me that it was fake. They claimed that the Teller number doesn't exist who processed the deposit. But when they looked in the computer records they saw the transaction but they still declined to take responsibility. Several days later they eventually claimed the check might be lost at some Nevada check processing facility. The check did finally get processed 2 weeks later. After receiving the good news that the check was finally processed, I went back to the BofA branch to discuss the issue and demand an explanation why they called me a liar. Their branch supervisor and branch manager refused to meet with me. That's when I closed all my accounts and switched to another bank.

Worthless bank, you should be banking with a credit union. That's what I did and it solved all my problems.

I used Bank of America for two months for a job I had to take on the east coast. I was so happy to close my account when it was done. Terrible customer service.

I will never bank with them. They do this constantly.

i'm so glad his money was recovered. that he even had to go through this is infuriating.

When a business/ bureaucracy gets too big, individual customers no longer matter.

Bank, “you owe us money” Me ‘I’m sorry, we are temporarily closed, we apologize for any inconvenience this may have caused, thank you for banking with me.”

So, the employee did not know her workplace was closing? Did not even mention it? What about all his time and stress? They should have added $1000 to compensate. The manager at the third bank should have been able to handle this when he saw evidence. Thanks for the heads up about Bank of America.

BofA is the worst bank in the US. I banked there for many years I didnt really have a choice because I lived in a smaller town and the other banks were too small. In the end though I got them and had the last laugh. I moved out of the country and maxed out my credit cards and line of credit; Like 150k. Thanks BofA. I love you

One side effect of online money transfers is that the likelihood of us forgetting how to properly “write” a check is pretty high. What this depositor did is a case in point: he made the grave error of putting Bank of America under the “Pay to the order of” instead of his name. It remains concerning though that the bank teller failed to catch this mistake.

THIS IS NOTHING NEW Bank of America is one of the worse Bank in America. Stay with a small bank or a credit union bank. 🌹😷

The biggest issue here is the horrible service by the branch manager. That receipt had a transaction no., time ir day, branch no., and likely an identifying number for the teller who processed the check. He could have tracked the status of that deposit in about 2 minutes had he been so inclined or had one of his tellers do it. The manager's behavior was unprofessional and completely unacceptable. He would have been relieved of his job asap had I been his boss. With all of those branches closing, it would have taken less that 24 hours to replace him with one of those branch managers. Clearly BoA is really interested in non-institutional customers, the little guy. Take heed.

Bless that man’s heart that had to go through that hardship. I am so grateful that he took the steps that he did, and that Bank of America honored the $33,000.00. I am currently a customer with Bank of America, but I will be switching banks soon.

We were in the process of buying a house for my developmentally disabled sister using funds from her trust account, which was handled by Wells Fargo. The house was brand new, never occupied yet. Wells Fargo demanded $17,000 for a home inspection before they would approve the purchase! Needless to say, they got NOTHING. It seems that when someone else handles your money, they start to act like it belongs to them. What a shameful disservice.

Don't forget, this is the same company that forclosed on a bank loan the bank never authorized during the housing crisis, then refused to do anything about their mistake until the home owners won a judgment and placed a lean on a popular branch office. It took their victim siezing a bank branch (legally) before they corrected the error.

Whoever the employee told him “nothing we can do” need to be investigated.

My heart goes out to this man. I’m glad he got his money back! But he should never have had to go through this torture. B of A must be coming apart at the seams for this to have happened. If I had accounts at B of A right now, I’d move them elsewhere.

Imagine that, a bank named after it's own country is a whole lot LESS trustworthy than any other bank in the same country.

7 On Your Side, kudos for assisting him.

This happens more often than you’d think. We had the same problem twice at the same bank. Every six months, we deposits farm rent checks to our bank. They are $14,000 to $15,000 each. My husband made the deposit and got to the car. He looked at his receipt and it said, $1,400, not $14 THOUSAND. He went back in, they denied mistake and he demanded the check back. The teller apologized for “misreading,” the deposit. Six months later and we got our second check. Hubs went to deposit, got receipt and again they had deposited $14 HUNDRED dollars rather than thousand. Same teller, same problem at this small regional bank. My hubs and son-in-law think it may have been an attempt at embezzlement. We’ve since moved banks. ALWAYS, ALWAYS, ALWAYS keep receipts and do not leave the building unless everything is correct to the penny.

Congratulations ‘7 On Your Side’. Powerful reporting….

Banks are not the only ones who do this. One year IRS sent me a demand letter saying I didn't pay my tax. So I called them and asked: you received my tax return, but you did not receive the check stapled to the return? The person said they'd look into it and I never heard from them again.

Bank of America does not give a chit about its customer's satisfaction.

Outrageous. Tell me the bank didn’t know the branch was closing when they took the check. I hope he sues them for the aggravation.

Yeah, if he wouldn't have made it public, it would have been: theres nothing we can do, you embarrass them publicly and there's something they can do.

So all of these “customer service” specialists and branch managers can’t do anything…..UNTIL Michael Finney puts them on the local news. Maybe if the B of A CEO was placed in handcuffs for grand theft, maybe there would be something that someone at B of A could do. At the very least, once the CEO got out of jail there would probably be many less branch managers telling people that there’s nothing that they can do.

WHY DO PEOPLE NEED TO CONTACT NEWS STATION INORDER TO GET BUSINESSES TO DO THE RIGHT THING.. ITS PAINFUL JUST WATCHING THESE STORIES.

Ditched BofA many years ago. Went to a credit union and never looked back

What are the best additions to a $500k portfolio to boost performance?.. ETH is Up and will do better, I believe as indicators for profits continue to improve, investors like me believe that “Santa has come early” to the markets

These problems with major banks is not something new or out of the ordinary but routine. This is a major reason why customers have left these organizations and moved to local credit unions for much better services.

I’m glad this man was able to get his money back . It’s unfortunate that there’s so much miscommunication .

As a former bank employee, from back in the 70’s, when most transaction were done by hand, before computers, this was easy to fix!!! I don’t understand why they had such an hard time finding this man’s money!!! Computers were supposed to make things easier!!!

The most puzzling part of this story: Why would anyone do business with Bank of America in the first place, or Wells Fargo?

Michael Finney is SUPER RESPONSIVE!!! These guys are the real deal and this program has helped advocate for a lot of people who couldn't get anywhere with big companies.

I worked at a bank for several years. It makes a big difference when you bank at community banks (or better yet, local credit unions) instead of at faceless mega-corporations.

First mistake: having anything to do with BofA. Check their record of fines and penalties.

The first thing should have been to track down that teller/cashier who TOOK his transaction and disappeared along with the closure of the said branch. I’m glad he kept his receipt and got the money back.

I had a student account opened by my mom that started when I was in 6th grade, money from summer jobs. This was to be used to buy my first car. Over 5 years of time I had a decent down payment saved. I went to withdraw my money, and got the story it didn't exist, they cancelled all student accounts. My mom was active in the city's social services and personality knew the Mayor, the Chief of police, and our Senator. The Mayor and the Police showed up at the bank with my account records showing my deposits and talked to the banks president and asked about the money. Within an hour my mom was called and the money was credited to my account. They all waited for us to go, close the account and gave us all my money. The Ford dealer across the street made a fantastic deal on my first car. Oddly enough that particular branch no longer exists.

No, this story is a reminder to NOT bank with BANK OF AMERICA! Highly unprofessional. Even though the man should've made the cashier's check payable to HIMSELF and not the bank, it was linked to his account. So, the lesson should include being mindful of who's name is in the payable section of your check or money order.

I bet if he had robbed them, he'd quickly have a whole team of feds with guns knocking down his door and placing shiny cuffs on his hands.

We had a very different problem with Bank of America, when a pair of employees flat out lied to us about being able to transfer funds from the US to a couple of their branches in Germany. When we got to Germany, both those branches were commercial banking only, and they refused to help us whatsoever. It ended up costing us a substantial amount to get our funds transferred through a third party, which we were left feeling was due to the BofA employees being eager to start a new account with a large amount of cash. My opinion of this bank chain is extremely low.

It happens. I deposited a $2,000 check in a BofA ATM and never saw the funds go into my bank account. Fortunately I was able to get a replacement check and the issuer put a stop payment on the first one. Keep your receipt.

Never write a check to the bank. Always write it to yourself and take a photo or get proof!

I would sue for the stress this probably caused him. This is unacceptable. There's nothing we can do. What does that even mean.

Why would he make a check payable to the bank when he wants to deposit into his account? He should have made the check payable to himself. Heart jolting lesson this guy learned.

This is far from the first time this has happened at Bank of America. I would NEVER put a nickel in that bank.

Amazing how people say there’s nothing they can do when it’s not their money. I bet every branch manager that said that would have gone to the same extent this guy did because somebody was too lazy to help him out.

"It's hard to believe this story happened at a major bank..." No, it's really not, if you've been paying any attention to BOA over the years.

Just come across this video now. I am still very glad 7 on your side helped him and he was able to recover his large amount of money. A happy ending.

Disappearing deposits have been an issue at BoA since at least 1980. While I was stationed in California in 1980, a few of my fellow service members opened accounts there and on more than one occasion their deposits would go missing. I knew then and there I would never use that institution no matter how “convenient “ it might seem

I’d close my account as soon as my money “mysteriously” appeared. Ridiculous!

"It's hard to imagine this story happened at a major bank..." BotA? It's not at all hard to imagine if you bank there.

Really need to put this out there, you’re amazing and I respect work ethics and enthusiasm towards helping people, thanks for being legitimate..

I've never understood why BofA would be anyone's first choice for a bank. I've only heard horror stories from people i know with it.

The cashier's check should have been made to himself, not BofA. The receipt is substantial proof, however, that the money is rightfully his.

Why wouldn't this guy have a record of the transactions ? Can I explain something very important to you all ? I worked for a Canadian bank for over 15 years and when you open up a bank account, the fine print states that if the bank goes into default or for what ever reason they deem necessary , the fine print states that the bank has every right to confiscate the funds in your account. So legally, once you deposit any funds into any Canadian bank account, then those funds are basically now legally held and owned by that bank. Possession is 9/10ths of the law. Now, there are people that are going to say that your Canadian money is insured by CDIC or Canada Deposit Insurance Corporation - this is ONLY if the banks were to go bankrupt. CDIC is just another fancy name for , another Bureaucratic government office. The CDIC supposedly covers you up to $60000 per account with different stipulations. However , what most people fail to realize is that, if we ever get to a point where, our major Canadian banks were to go bankrupt, then having your $60000 insured is going to be the least of our worries, if we ever were to be in that type of scenario - where our banks go under. The rest of our economy will be in shambles anyway and long before we see our banks going bankrupt, we would be experiencing things such as record oil prices, sky rocketing housing prices, food shortages and the like. Oh, so maybe some of the things we are experiencing lately, hhmmm !!! I'm sure most people remember the 2008 scene where our government bailed out our banks, it was called a bail out,,,well the next time we run into a similar situation , where the banks are not able to cover all the massive debt, then we will see what is called a BAIL-IN This will be where the banks go into everyone's bank accounts and take what ever funds they deem to be necessary, in order to keep the banks from failing. Our banking system is a major fraud and scam from the get-go, if you haven't noticed by now. How is it that, there are tons of people who have NO idea that the Federal Reserve has nothing to do with the US government or banking system. The Federal Reserve is owned and run by the richest globalists on this planet, these are the very people who run this world, who appoint and choose presidents. they are the TRILLIONAIRES - Rockefellers, the Rothschilds etc. They own all the major banks around the world, they set prices and they run and ruin and do whatever they want to world markets. So, the Federal Reserve has ABSOLUTELY NOTHING to do with the US government or the US treasury dept etc etc. They are not on the Forbes richest billionaires list, they own the Forbes billionaires list. They are the top of the echelon, the richest on the planet. period........

If they won't fix it go to the District Attorney, request a grand jury, explain your case and the DA will threaten arrest if not corrected immediately.

The branch closed his after he deposited his check and the teller still took his money (and others). They knew the branch was closing and didn't warn anyone, OR had plans in place to stop receiving money until closure. Incompetence all the way to the top.

I'm so happy he got his$back!!and good tng he kept his paperwork!

Good for this man !

Imagine the people who got screwed that we never heard about. Good for you 7 on your side, we’ve got you here in D.C. and you’ve helped a lot of good people! Keep it up!

Good to know BofA has a lot of callous employees.

Great job for the people ABC 7!!!

BofA did that same thing to me 15 years ago I deposited $1000 into my checking account at the ATM got a receipt. It did not post after 24hrs I called the bank nothing, then went to the bank talked to the manager nothing. I was told even though I had a receipt from the ATM it does not mean I made a deposit. After that, I took out my money closed my accounts, and never looked back. Looks like nothing has changed.

That’s the reason you keep your transaction receipts until your deposit is posted.

How stupid. A deposit should immediately be posted in the application that serves every single BoA branch everywhere. Assuming the depositor got a receipt for the deposit it should have been tracked down by the people who obviously need to be enrolled in customer service courses. THEN: Close the GD BoA account and never look back. I have one just because I haven't taken the time to go in and close it. STAY AWAY from BoA and Wells Fargo. Wells Fargo cancelled my credit card for no apparent reason. When I asked about it I was told that "It was to get you to call us because we wanted to talk about [something, whatever the heck it was]". Why couldn't they call me or email me?? NO MORE Wells Fargo credit card.

I would never think to get a cashier's check made out to the bank when I was depositing it into my bank account - I would have it made out to myself. I'm glad he got his money back!

Deposited check of $5,000 check into BOA and took 6 months to get it back. Horrible experience.

This is just a sign of things to come.. you think your money is safe at a bank, forget it.

As a former Business Banker, the mistake was on the guy who made the cashiers check. You can’t make out a check to Bank of America and depositing it to your personal account. The cashier’s check should have been made out to him/his name, that way he would not had experienced any issues. Also, the other branch managers from BoA should have helped him trace the check.

Thank God he was able to recover his money

This is horrible but why on Earth did he make the check out to Bank of America??? They said that made the problem even worse. I'm no expert but I just don't understand why it was pay to the order of Bank of America and not him

This is exactly why I refuse to EVER bank again at either Bank of America or Wells Fargo! I had business accounts at both banks and suffered tremendous stress over their mishandling of funds!

When they type it in their computer and print out a receipt, doesn’t that information go to the online system of the bank and can be accessed by all of its locations countrywide? So if he didn’t have his physical receipt they’d have kept his money? 🤔 You should not only be given a paper receipt but also have it emailed to you. And so long as you have your ID/SNN, you should be able to withdraw that money anywhere? This man has the patience of a saint. Someone else would’ve walked in and shot up the place for telling him his hard earned money disappeared and there’s nothing the manager can do about it to help with that level of incompetence.

Incredible and a learning experiencie!

Wow! Thank you Michael Finney and 7 On Your Side for helping with this one.

The CEO of BofA is clueless! The customer service policy should be that if a branch manager can't help you, even when you have a receipt, the district manager, or whoever is next up the ladder, should be able to help you. In other words, the manager should say, "I'm sorry, but I can't help you with this. But my boss can help you with this. I'll ask them to come here to help you." Humans make mistakes which is why you need procedures, systems, policies, etc. in place. How'd he become CEO of BofA anyway? What are they teaching you when you get your MBA these days? What are they teaching you when you major in business these days? Isn't the customer always right? These big corporations need to focus more on customer service. I left BofA before 2010. Glad I did. Nobody should bank with them, in my humble opinion.

It happened to me too! We need to sue them!!!!!!!!!!!! The branch crimes!!! Horrified!!!! Those are major banks, including Chase and Citi and many others!!!!

Big corporations grind their employees into the ground. Don't expect any of them to be of help. Bless them all; and give a sincere 'thank you' to those who rise above their situation to lend a hand.

“It’s hard to believe that story happened at a Major Bank.” I can’t believe he said that and wasn’t being Sarcastic!

Something similar happen to me, I deposited a $2100 check in an ATM and the instant the check got inserted the machine the ATM shut down. it took dozens of calls and a few letters and security camera viewing to get it all back. I had no receipts or proof of the check except what my customers check book copy. After two weeks I finally got credit for the deposit! Yes it was a B of A!

That's so sad. I've been a BofA customer for close to 30 years, and a business account with Wells Fargo for about the same time. Never had a problem of missing money from either banks. Some people are just unlucky.

Has anyone informed the Governor about the problems in Oakland yet ?

BoA used to have fantastic customer service, now its like trying to communicate with rocks. If you dont believe, stay there, you WILL.

If this don't put you in a major panic, I don't know what will.😥 I'm glad they were able to help him out.

This happened to us . We deposited money from a closing and when we went to get money, they said they lost our signature card so they wouldn’t give us money. This was years ago. We did get the money back and will never use them again.

There should be penalties against banks. They have 3 days to either clear or reject the check you deposited. If it doesn’t show up, there should be a fine. Maybe 10% per day. These cases can cause so much stress in people’s lives.

He should be able to go to ANY Branch with his Deposit Receipt & access his money!! 🤑

Been with Navy Federal for over 20 years, best move I ever made never any problems , not one. NF is where it's at.

The first thing I noticed with the check is that the check made out to BofA and not the account holder. Regardless he did have his bank deposit receipt should have been able to track his deposit with that. BofA just wanted to keep his money.

Thosed "Closed" stickers on the BofA doors remind me of our only local BofA branch. It, too, closed for a couple years, and I wanted to access my money there. That is the only branch for who knows how many surrounding miles. I did not want to drive 20 miles to find another branch. At long last they re-opened for reduced hours. I closed my account which required a whole meeting with a manager, who explained that merely withdrawing all my money does not close the account, which would then begin accruing a $9 per month debit for insufficient funds!! One could write books about the endless exasperations caused by banks. I was once so displeased that my bank improperly handled receipt of wired funds, that I then closed my 8 accounts there. That, plus demanded a letter of apology from the Headquarters office. (A different bank, not BofA).

This is the type of customer service you get from companies during the pandemic. Not just banks everywhere.

When “There’s nothing I can do” really means “There’s nothing I *want* to do”

INCREDIBLE. Had he gone to a reputable lawyer they could have filed a lawsuit and sued for damages and fraud and made a killing. Before it would have ever gone to trial they would have settled . Would have been a nice pay day for the lawyer and the plaintiff.