Every small business owner has faced this situation:
You go to your bank and deposit a check from a client and the bank says there will be a 7 business day hold-BS!! Well, this happened to a client of mine and the bank in this instance is Wells Fargo Bank located at 7700 E. Belleview Ave, Greenwood Village, CO 80111-a big shout out to the moronic manager of this Wells Fargo branch.
When my client asked why the hold for a local check, and the fact that he had been with Wells Fargo for over a year the branch manager told him:
Banks don’t trust each other, there will be a seven business day hold on your check.
I made him go back to this moron, he had another check to deposit and informed the manager that there would be no more holds or he would be finding another bank. My client also asked the branch manager if he had ever heard of the check clearing system that banks used-the manager told my client that maybe they could work something out.
This despicable behavior by banks needs to be stopped and the only way we can stop this is to stand up and let your bank know that you will leave and don’t forget to go over to Yelp and write a nice review about morons like the one at Wells Fargo Bank!!
Remember, it’s your money and your cash flow-use it!!