I am making an undisclosed large purchase for a business investment. I borrowed the cash from a lender who wrote me a check. Not knowing any better, and doing as I normally do when I get a check, I deposited the check at the ATM.
Bank of America, believing that the check was fraudulent, put a two-week freeze on the deposit. Could they have called me? Yes. Could they have called the other bank to confirm that the check was good? Yes. Could they have refused the deposit at the ATM? Yes. Did they do any of these? Of course not! They would rather just hold onto my money without giving me access to it.
Two weeks later, the cash was un-frozen. Unfortunately, the business opportunity was already lost, as was my $5,000 deposit on the investment and two days of my life.