Bank of America Wants to Charge me for Cashing Their Checks!

Posts: 8221

I pulled into one of their branches which happened to be drive through only. They sent my checks back and refused to cash them because I wasn't a member. This was the second time I stopped, since they were closed by 2:30p previously. When I went to their other branch for walk ins, I was told that I'd need an account or they'd charge me starting in September to cash their own checks. I asked if the account was free, to which they replied: "if you set up direct deposit". Some credit card company has been putting holds on my bank accounts, and this bank is pissing me off. I think I might be able to open a free checking account with them, but...

Is this even legal? (for my employer / this bank)?

Posts: 674

can u cash them at work? or u could deposit the money in a friends account if u know someone who has one, and just havem give u the money

Posts: 499

Looks like you're not the only one pissed off about this.

Here's a hilarious blog about it

Information about a lawsuit developing against Bank of America (and Wells Fargo)

Ripoffreports.com result for Bank of America

Personally, I think its wrong (but I also think that we shouldn't be dealing with thieves either).

Remembering that all law is consentual/contractual, we need to analyze this in terms of existing or nonexisting agreements. Here's my analysis:

Fact #1: the bank is obligated to perform according to the agreement between the accountee (account holder) and the accountor (bank). The question: has the accountee agreed to allow a service fee to be charged against any non-accountees cashing the accountee's check? If they have, then Fact #1 can't help. If they haven't, then a lawsuit may be possible. I say "may be" because: 1) Unless the agreement between the accountee and the accountor says that the accountor can't do it, then there cannot be any enforcement until the agreement is changed to include it. 2) Unless the bank has agreed to some state/federal laws that says that it can't, then there cannot be any enforcement until the state/federal laws are changed to include it.

Fact #2: since you are not an accountee, there is no agreement between you and the accountor. You can't force them to perform, and they can't force you to perform. However, they are holding the check issuer's money "hostage" until you pay a "ransom" for it. This is a very inconvenient situation. Your choices: you either refuse to accept any BoA checks and refuse to do business with them, or you pay their ransom on the money. If the BoA check is a paycheck, there may be little choice in the matter. Can you ask the check issuer if there are other options? Such as another bank's check, or cash, etc.?

Posts: 532

I have my gf cash my checks for me at her bank. It is so much easier than getting kicked out of bank after bank for losing my cool.

It is wrong, but the only thing you can do about it is to just stop using them. Very Happy

Posts: 8221

I'm gonna run the threat of a class action lawsuit by my employer (they're a large chain and apparently responsible). Hopefully they will decide to switch banks.