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Home >> My Bank Said ...
Security Block on My Money: What to do?
I went to Wells Fargo to cash a settlement check because it was drawn on their bank. They said no problem, and talked me into opening an account there, and said that the money would be available to me the next day. When I went in the next day, they said that loss prevention had my check and they were closing my account, and a cashier's check for the amount of my deposit would be mailed to me in ten business days. They still have not sent it. I talked to loss prevention, and they told me they are holding it an additional five days, but there is no reason for this. The check has cleared, but they will not lift the security block on my money, all the while the account is closed. Is this legal? If not, who do I call for help?
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 If you believe that the bank is holding your funds inappropriately, escalate your complaint to the supervisor of the loss prevention department or find out to whom that department reports and contact that individual. If you don't get a satisfactory result, contact the consumer complaint section at the Office of the Comptroller of the Currency, your bank's federal regulator.
Published on BankingQuestions.com 1/14/10
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