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

OAKLAND, Calif. — You’ll have seen it these days — many banks closing branches, as extra clients financial institution on-line, and fewer in particular person.

However for one California man, it brought on a gentle panic.

Financial institution of America shut down his department simply hours after he made an enormous deposit. His cash disappeared, so he got here to reporter Michael Finney from KGO-TV, our sister station in San Francisco, to search out it.

It’s onerous to imagine it might occur at a significant financial institution. This viewer deposited $33,000 by a teller at Financial institution of America in Oakland. Hours later the department shut down. His deposit by no means posted. And all people stored saying, “Sorry, there’s nothing we will do.”

It was like a nasty dream… besides, it was actual.

“I’m beginning to suppose I’ll not see the cash ever,” stated Brian Leonard of Oakland. “‘You’re telling me that Financial institution of America misplaced $33,000 of my cash, and also you’re telling me proper right here to my face, there’s nothing you are able to do?’ ‘That’s proper, sir.’”

Leonard deposited $33,000 into his account at Financial institution of America. Then it disappeared.

“No person stated, ‘We’ll discover out the place the cash is, we’ll make good on it, we’ll maintain it…’” Leonard stated.

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All of it started in Leonard’s kitchen. “My wife and I are within the midst of an enormous kitchen transform,” he defined.

Leonard needed to pay the contractor and wanted to switch $33,000 from his account at Wells Fargo to his account at Financial institution of America.

He introduced a cashier’s verify straight to the teller at BofA so it will clear immediately.

“I deposited the cashier’s verify… she stated it will publish that afternoon or subsequent morning on the newest,” Leonard stated.

Nevertheless, when he checked his account the subsequent day, the cash was not there. He referred to as BofA — and it was not excellent news.

“The lady stated that there was no file of the transaction. So so far as she was involved, no transaction occurred,” he stated.

Leonard drove again to the financial institution and acquired one other shock: BofA had shut down that department, simply hours after he’d made his large deposit.

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“After I realized the department was closed, and the teller that took my $33,000 cashier’s verify is nowhere to be discovered, my coronary heart sank into my abdomen… I felt like I simply noticed the boat leaving the dock and my cash’s on the boat,” he stated.

Leonard went to a different department, solely to search out the doorways locked there too.

“It was closed completely, in order that’s after I began getting very nervous; wait a second, the branches are closing, the folks I’ve had contact with… gone,” he stated.

He went to a 3rd department. It was open — however the supervisor didn’t assist.

“He stated, there’s no file of the transaction. So there was nothing he might do,” Leonard stated.

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Leonard confirmed him the cashier’s verify and deposit receipt — proof of the lacking cash. “I stated, ‘You’re the supervisor, are you able to escalate the problem.’ He says, ‘No, there’s nothing I can do.’”

Leonard says everybody at BofA stored telling him that.

“Nicely, it was form of, form of kafkaesque,” he stated.

However there was one thing Leonard might do. He contacted the financial institution’s CEO, the federal authorities, and KGO-TV.

“And you recognize, that ball began shifting shortly,” stated Leonard.

BofA stated the issue arose as a result of the cashier’s verify was made out to Financial institution of America, not Leonard, and it “delayed the method.”

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BofA didn’t say why nobody helped Leonard observe down his cash… till now.

“Throughout the course of a few hours, Financial institution of America contacted me, they stated they’re gonna give me $33,000. 7 On Your Facet, man, you guys had been on it,” Leonard stated.

This story is a good reminder: preserve your receipts!

BofA didn’t touch upon whether or not the shutdown of that department might have brought on an issue with the deposit, however says it’s a short lived closure.

That is one in every of tons of of financial institution branches to shut nationwide over the previous 12 months.