So, my bank can just freeze my funds, huh?

[Macattack]

Twice now over the last 3 weeks, my bank has frozen the funds in my account.

When I complained I was told that the bank mgr. herself had placed the freeze and that she would be the one to either release it and or contact me regarding her reasoning. Well, I never received a call only a letter from her desk stating that she had the authority to legally freeze funds according to her discretion. At this point I hadn't even written a check or used the card.

Currently, (thankfully) I was only in the process of switching over fully to them. I still have funds in other accounts with other banks. But, just as soon as I can cancel my recently set up direct deposit, I'm closing this account and going back to BoA.

Any ideas on why they would be targeting me?

[jq26]

No idea other than maybe checksystems is showing derogs? Did you deposit large checks?

Personally, if my bank froze my funds, I'd walk in and ask for an apology and immediate release. If it didn't occur immediately, they'd be history.

[Macattack]

No idea other than maybe checksystems is showing derogs? Did you deposit large checks?

Personally, if my bank froze my funds, I'd walk in and ask for an apology and immediate release. If it didn't occur immediately, they'd be history.

No checks, only cash.

Not only did I not get an apology, I got hung up on over the phone.

Stay away from BB&T... I only now (stupid me) did a search on their complaint record and it's not pretty. Seems that this type of behavior is the norm for them.

They were also involved in a real estate scandal recently. Looks like they're still in court over that one.

[swirlgirl]

Do you have a judgment?

[Macattack]

No judgments. Nothing like that.

I've been looking into several BB&T complaints, it seems the reoccurring theme is that they will temporarily freeze your assets, hit you up with $35-$70 ($70 if they pay the debit) overdraft fees, and then flat out ignore your complaint. If you complain to the BBB, they cave immediately. Thankfully, I haven't been using this account so the freezes haven't caused me too much grief.

And like I said, I'm closing it ASAP.

[Bigwoodystyl]

Brand new accounts within the first 30 days are subject to a good bit of scrutiny.

I might be reading too far into this, but I don't think any "freezes" were placed on your account. It sounds to me like "Branch Holds" were placed on your deposit(s) at the discretion of your branch's manager. (Note: Branch Holds are legally different from holds applied b/c of Reg-CC)

With medium to large banks, each account will have a "branch of ownership". This branch, and subsequently this branch's manager, and his/her district and/or regional supervisors are directly and indirectly responsible for your account.

Well over 90% of all deposit losses come within the first 30-90 days of a checking account being opened. If you hypothetically began to kite checks with the brand new account, and cost the bank money in fraud loss, the first thing your branch manager's regional supervisor would ask him/her, is "Why didn't you place holds on the deposits during the first 30 days?!"

By most accounts, BB&T is a very good and very popular bank. From the sounds of it, you have a problem with overdrafts and overdraft charges. (This implies you have far deeper financial problems than which bank handles your deposits.)

Wait 6 months

Continue to use the account

Handle the account responsibly

It would then be unlikely you see further holds.

And like I said, I'm closing it ASAP.

Watch you don't see an Early Account Close Fee, or similar terminology. Most deposit accounts need to be open at least 6-12 months. These are usually on the level of $25-$50.....