Has Bank of America made it difficult to deposit co-signed checks using an their ATM? THIS POLICY AND ACTION BY BofA is RIDICULOUS.
Recently I ('A') deposited a $22, 000 check (from a securities company), signed by the three persons listed on the front, into a BofA account via an ATM. The check was returned to me.
The original check was made out to A, B, and C. A, B and C signed the check. A also wrote that the check should be deposited into an account (number specified) in which A and B were owners.
After about a week I got a letter from BofA that they had removed the deposit from A & B account, and returned an enclosed "voucher" check to A because person C was not an owner on the deposit account, and an ATM had been used instead of at the counter where person C should have been to confirm the deposit.
This means that BofA will not allow someone to deposit a check signed over to them by a third party.
Has anyone heard of this policy?
This could affect you if a tenant gets a government supplemental check and signs it over to you as part of a rent payment.