On XXXX XXXX, 2015, I made a " Bill Pay '' payment to my Insurance company for XXXX ( XXXX ) policies, which Bank of America would not pay on the same date, and which BOA confirmed to me would be DELIVERED on XXXX XXXX and XXXX XXXX respectively. I accepted this arrangement even though this same situation happened six months earlier as well. The XXXX policy was indeed DELIVERED Electronically on XXXX XXXX to the Insurance company. Today, I called BOA as there was no indication that the XXXX policy was paid and was told that on XXXX XXXX a paper check was sent to the insurance company but it had not cleared and my account had not been debited. I firmly suspect that the BOA had sent a " paper check '' by postal mail, knowing full well that it would take several days to reach the insurance company, and in that time frame, the monies in my account were " floating '' for the express usage of BOA, thereby not out of the BOA system. I believe this is disgraceful and probably illegal, since an electronic transfer on XXXX XXXX ( as promised ) would have debited my account and funds would not be able to be used by BOA as it would be out of their system. Multiply this procedure taken by BOA by the XXXX of depositer 's at that bank and the interest gained by BOA is in the XXXX geared to their bottom line. I would not be making thjis complaint save for the fact that these Bill Pays were for Insurance Policies, which if not paid on time would be subject to cancellation of the insurance policies. The CFPB should require ALL Banks that provide " Bill Pay '' services to abide and live up to their promises especially when I have the BOA CONFIRMATION indicating DELIVERY by the respective dates, not SENDING but DELIVERY. Thank you. 
