The only thing keeping the banks in business is that nobody thinks they're going to let them fail... They've started limiting how much of your money you can use - a clean sign of trying to protect on runs. How many days would it take you to access your money?
BOA won't let you access your $$$ - Consumerist.com
I explain that I am in the store, at the register, and that I know I have available funds.
She puts me on hold about 5 minutes , then comes back and says "Im sorry - that's over your daily limit. There's nothing I can do. Was there anything else I can help you with?"
Remembering to keep a cool head, I ask about a supervisor giving me an override on the limit. She says "let me transfer you to the ATM department." And before I can explain that this isn't an ATM problem, she disconnects me.
Frustrated - I dial again, more menus, get a human, get transferred, get another human, get transferred, (every time re-verifying my ID)finally I get to the FOURTH person who apologizes 10 times and says "don't worry sir - I can help you!"
I think I'm getting somewhere but then a supervisor comes on and explains to me that "Everyone in the United States that uses Bank of America has a daily spending limit of 5000.00 no matter what."
Stunned, I ask for an exception and in a parent-giving-me-a-cookie tone he says "well, I suppose we can up that to 6000.00 just this once."
At this point I am over an hour on the phone but we try the transaction again. Declined.
More hold time. He comes back and says that he is sorry but 6000. is the limit and buying gasoline and dinner earlier in the day is going to put me at more than 6 grand for the day and so I can come back tomorrow and buy the TV or I can go to my branch and get a money order.
Fuming, and doing my best to remain calm, the conversation goes like this:
"Let me get this straight - I have an "available" balance of nearly 10 grand in my account?"
"And its not pending or a deposit waiting to clear, that's my money, confirmed and in your bank?"
"And you have kept me on the phone for over an hour, asked me multiple times to verify my identity and are satisfied that I am who I say I am?"
"And you are going to deny me access to MY money?!?!"
"No sir - we are not denying you your money, your're just over your daily limit."
"My daily limit? This isn't a credit card. It's a PLATINUM Visa checkcard. I understand that you have to put limits in for my protection but I need to make this purchase"
"Im sorry theres nothing I can do"