Recently, Every time I deposit my pay checks into my BAC checking account Just on the next day following my deposit, BAC sends a letter to me stating that they couldn't get money from the bank of my pay check, but also says my money is available in a week (they put a specific date on the letter).
I really smelled that BAC is in big trouble because BAC borrows my money for a week without my permission. I talked to my employer, they say it is my bank problem.
Image that a check needs three days to cash out, but BAC tells me the next day after my deposit that the money is not avaialble because they couldn't get money from the other bank. How could BAC know in 24 hours that the other bank wouldn't pay immediately?
ur one sick puppy..I travel around the globe, I have access to funds immediately,..then again I never bounce a single check w/BA...maybe they just don`t trust U..I think they do all the right things for their customers. Rick
1) BAC is making tons of money just because of their acquisitions. Countrywide is the biggest and Merill Lynch is making lot more than what WFC got from their legacy wachovia.
2) From the time WFC announced earnings on thursday till BAC announces, BAC will have revenues of additional 60 BILLIONS( 10 days * 6 Billion a Day(Kenn Lewis stated)).
3) Great Revenues from Merrill's underwriting and trading.
Bottom line. BAC is ridiculously cheap even at $25.
Don't want to butt in, but are you receiving paper checks before official payday? Some people do, and then process them immediately, but before official payday on the check. (like arriving Wed for a Friday payday) That could cause immediate response. I suppose some banks are getting touchy about dates. Companies often send paper checks early these days to guarantee timely arrival, but they process most checks electronically when due for most people with direct deposits. Just a thought I had.
My company is a one-year old start-up trying to combine facebook and craigslist features to make a new web site (still under construction) . It is still purely using investment money which is sufficient for a couple of more years. It is still hiring people, never laid off, never has financial problems.
It happens usually....When the depositor are not reliable
They don't keep enough cash in their account........
their $200 weekly paychecks get dried up in day or two....
when they checks returns unpaid..........
I hope this hels you a bit
I said the bank will be fine and the gov't will support it until the cows come home-not necessarily the stock. Perhaps, you should learn to read. A number of companies that have gone through a bankruptcy or extreme dilution and the shareholders have really gotten the shaft.
Dude I expect a pullback on monday but what you wrote is major BS and I got out on thursday and hope BAC has a sell off to buy in cheaper but I still would never post such nonesense for a cheap gain. Lots of people are new investors and crap like that could scare somebody out of their hard earned money. One thing is to be short the other is to lie for gain. Karma will come back to haunt you.
Yo, Ipan poor me would have a PROFIT of 96K "IF" I sold, so don't feel sorry for me you whiney little girl!
If I had a "story" like yours about checks taking 3 days to clear, or what ever, I wouldn't piss & moan on a stock message board about it!
Just like the little puzzies that bytch about rate increases....FIND ANOTHER CARD!
This is like saying sally sue dropped a teacup she must have palsy...
....might want to check your logic...look for flaws...good luck...
...or if after careful examination....perhaps you're on to a real indicator...
BAC holds deposited money = short them
WMT employee knew where the pretzels are = go long
BBY rewards program card won't scan at checkout = go short
the nice thing is there is no shortage of such indicators.....
GLTA with this new investment technique