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Why was my BOA cash Mortgage payment reversed?

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Last month I prepaid in cash my BOA mortgage payments for August and September at a local branch with a human teller. I noticed last night my 08/01/17 payment was "reversed" the day after making the two Mortgage prepayments. Thank god I still have the payment receipts BOA gave me. I have not received a refund and just happened to notice this issue last night. On Boa's website is says my next Mortgage payment is due 09/01/17.
I am totally confused, and can't do anything about it till Monday.

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cool story

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My magic 8 ball says .... without calling them, there is no way we can answer this.

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Maybe they applied payment #2 to principle? Call and ask them what happened and tell them you wanted to make two regular payments.

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Did the amounts total over 10k?

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Stubtify said:   Maybe they applied payment #2 to principle? Call and ask them what happened and tell them you wanted to make two regular payments.
  
It's looking like both payments were not applied to my Mortgage. I did specify I wanted to pay my "regular" payments. The payments totals were exactly what my regular payments are. I just don't understand why a cash payment would be "reversed". At this point I have never missed , or had a late payment in the 10 years i have had the mortgage. BOA is closing this branch next month and I don't think their employees quite know whats going on. They did not even let me know I needed to close out my Safe Box I had there till I asked .

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I've heard a few stories over the last few weeks that JP Morgan Chase and some other banks began banning cash payments on credit card statements, and mortgages.  Maybe B of A will announce on Monday that they are banning cash payments on CC's and Mortgages as well.

This link is a bit extreme from a doomsday site but gives an overview of the situation:
http://www.newsmax.com/DavidEngstrom/cash-real-assets-gold-silve...
 

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kingdoodler said:   Last month I prepaid in cash my BOA mortgage payments for August and September at a local branch with a human teller. I noticed last night my 08/01/17 payment was "reversed" the day after making the two Mortgage prepayments. Thank god I still have the payment receipts BOA gave me. I have not received a refund and just happened to notice this issue last night. On Boa's website is says my next Mortgage payment is due 09/01/17.
I am totally confused, and can't do anything about it till Monday.


Why would you try to pay your mortgage in cash in the first place?

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DelCheapo said:   I've heard a few stories over the last few weeks that JP Morgan Chase and some other banks began banning cash payments on credit card statements, and mortgages.  Maybe B of A will announce on Monday that they are banning cash payments on CC's and Mortgages as well.Hearing a story does not make it true. Please provide a credible link. Until you do so, you're just spreading fake news.

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scripta said:   
DelCheapo said:   I've heard a few stories over the last few weeks that JP Morgan Chase and some other banks began banning cash payments on credit card statements, and mortgages.  Maybe B of A will announce on Monday that they are banning cash payments on CC's and Mortgages as well.
Hearing a story does not make it true. Please provide a credible link. Until you do so, you're just spreading fake news.

  There are a few of these non fake stories.
Of course most if not all of them are where the guy paying is being such an ass, (folding bills so tight that it takes 6 minutes to undo a single dollar bill or shoving a camera in the face of the banker, or that the mortgage is in default) that it's not that they won't take cash, they won't take cash from that guy.
Here's an old post of mine (that got red)
https://www.fatwallet.com/forums/finance/1421449
 

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scripta said:   
DelCheapo said:   I've heard a few stories over the last few weeks that JP Morgan Chase and some other banks began banning cash payments on credit card statements, and mortgages.  Maybe B of A will announce on Monday that they are banning cash payments on CC's and Mortgages as well.
Hearing a story does not make it true. Please provide a credible link. Until you do so, you're just spreading fake news.

  I would be very surprised if what DelCheapo said was correct. Doesn't it go against the following printed on almost all US currency:
"This note is legal tender for all debts, public and private"?

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fwuser12 said:   
scripta said:   
DelCheapo said:   I've heard a few stories over the last few weeks that JP Morgan Chase and some other banks began banning cash payments on credit card statements, and mortgages.  Maybe B of A will announce on Monday that they are banning cash payments on CC's and Mortgages as well.
Hearing a story does not make it true. Please provide a credible link. Until you do so, you're just spreading fake news.

  I would be very surprised if what DelCheapo said was correct. Doesn't it go against the following printed on almost all US currency:
"This note is legal tender for all debts, public and private"?

  Mortgage isn't just a "debt" though.  It's a contract that can have various terms associated with it.  There's no requirement that they accept mortgage payments at their retail sales outlets ("branches"), it likely only requires you to mail payment to them.  And branch payments or online are just additional services they're providing voluntarily.

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forbin4040 said:   There are a few of these non fake stories.
Of course most if not all of them are where the guy paying is being such an ass...
Let's go with "all of them" until proven otherwise. Your thread got red, because you implied the wrong reason for the arrest.

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Well I called BOA customer service ,was told to go to the branch and get a refund for the single reversed payment.

At the branch was told there is not a problem and both payments were made.

I say no they have not and blood pressure starts to rise....

They get on the phone and talk to their customer service people and discover there is a issue. They thought it was a mistake double bill/payment for the same month,so it was reversed, and I was told it "should" be resolved within 5 business days.

What a bunch of Monkeys.

Why did I use cash? It's only a $300.00 payment, and had the cash. Did not really even think it would ever be an issue. Guess it is.

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kingdoodler said:   Well I called BOA customer service ,was told to go to the branch and get a refund for the single reversed payment.

At the branch was told there is not a problem and both payments were made.

I say no they have not and blood pressure starts to rise....

They get on the phone and talk to their customer service people and discover there is a issue. They thought it was a mistake double bill/payment for the same month,so it was reversed, and I was told it "should" be resolved within 5 business days.

What a bunch of Monkeys.

Why did I use cash? It's only a $300.00 payment, and had the cash. Did not really even think it would ever be an issue. Guess it is.

  
Ah makes sense. My lender has told me they have an unofficial "10-15 minute window" during which payments for the same amount are treated as accidental double payments.  Next time make one payment $300 and the next $301. 

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