Californians' direct deposits to Bank of America listed as missing

Mercury News ^ | 3/16/2002 | AP

[CheneyChick]

SAN FRANCISCO - Californians with direct deposit service to their Bank of America accounts were shocked Saturday to find the money missing.

A customer service representative said the money was deposited Friday but showed up missing Saturday morning after a bank error caused it not to register in the accounts.

[CheneyChick]

This affected me -- no sign of a fix yet. My pay that was deposited yesterday is GONE.....

CC

[Rubber Ducky]

Has Bank of America signed a partnership agreement with the IRS?

[CheneyChick]

Not that I'm aware of, but they'd be in the ballpark for what I owe them next month....

[SierraWasp]

I'm very sorry this is happening to you. I quit BofA in the early "Gay Nineties," because they kept putting "Don't Bungle the Jungle" exhibits in their lobbies implying that if we used such and such a service that they would contribute to some socialist/communist EnvironMentaList NGO. The other implication was that we needed them to help us help the "Rain Forest!"

I should have quit them when they actually admitted they couldn't give me a business loan to buy a business computer in 1982 because they had loaned too much money to Mexico and didn't have any left for loans. They were so good to me in 1964 when I first came to CA that I forgave them.

I hate their meaningless new logo! Sure hope you get made whole... and SOON!!!

[CheneyChick]

You know, these banks are so quick to impose fines for any little thing. I think we should charge them for this blunder, big time. I'm sure some people were caused quite a bit of grief today and were seriously depending on their money being there.

[SierraWasp]

You're RIGHT!!!

Next you be finding out they have Arthur Andersen as their auditing firm.(grin)(I know that's not funny)

[Imal]

It will be interesting to find out if any BofA employees left for the Cayman Islands about the same time the money disappeared.

I'm sure more than a few pagers have gone off at BofA this weekend!

Imal

[DoughtyOne]

My check went through fine Wednesday. Must've been a one day snafu. Sorry...

[DB]

BofA has been good to me over the years. I use almost exclusively their "home banking" via the Internet. Saves a ton of time.

[not-an-ostrich]

Do the banks have to sign agreements with IRS before your funds can be consficated? I owed $1,000 in extra taxes after I cashed in my profit sharing account to attend UCSD. I was saving to payoff in 1991 and the minute my BOA checking account reached $1005 it was gone.

[jimtorr]

I guess you won't be hearing the usual "our computers don't make errors" remarks this time. When a bank makes an error on just one customers account, they'll say this as proof that it was the customers error. I guess when they screwed up on thousands of accounts at the same time they have to admit it.

This has always been my fear with direct deposit. Electronic money is only as good as the computers it resides on, when there is no paper trail. On the plus side, they should have this fixed in a couple of days, if they are competent.

[gratefulwharffratt]

My pay that was deposited yesterday is GONE.....

I have my own nightmarish Hell story about BOA. When they screw up, they make sure it counts.

I used to like the way they treated me. But, that was when they were called NCNB.

That was long before they bought up every bank in the western hemisphere though.

[Roscoe]

I miss the old Security Pacific.

[SierraWasp]

I'm happy for you. I'm also much happier with US Bank as they don't seem to sponsor things like phony studies attacking rural areas and rural property owners with the "Urban Sprawl" by way of "Smart Growth" by way of the UN's "Agenda 21" line of crap!

I'm simply DONE doing business with entities that work against my principles and don't support my views, wherever possible. I vote with my pocketbook and my feet, whenever possible. Even when it's a little inconvenient. Fortunately, US Bancorp has almost as many branches/ATM's in my region, as BofA.

[jaq]

The IRS would have had to put a lien on your account. You would have been aware of it if you tried to withdraw any funds.

[DB]

I've never seen a US Bancorp anywhere around here. Small town...

I understand your concern.

[SierraWasp]

It's just called "US Bank."

[bwteim]

This affected me -- no sign of a fix yet.

Ouch!

[CheneyChick]

Update: It's back! They fixed it and everything is fine now. I've been using direct deposit for probably around 20 years and this is the first glitch ever....

[cmsgop]

Im with US BANK Too. They have been Great to me so far.