ABSOLUTELY THE WORLD'S WORST BANK !!!

[hoosierone]

To put this to bed I would find out who regulates them (state or Fed) and make a complaint. If they are misbehaving it will definitely get the regulators attention. As a former banker, I can tell you the regulators loved to give us a rough time.

 

[GaryHK]

Never join a BANK
Always join a CREDIT UNION

 

[biku324]

^^^This, in spades!!!

 

[jeffrefrig]

This sounds a lot like the Hilton Grand Vacations scheme we fell into back in early 2000s. Biggest mistake I ever made. The sales man never lied, I can say that, but when he would say something like "There's a small charge when you make reservations" or "The yearly maintenance fees may go up from time to time," he would quickly say "But that shouldn't matter to you by the looks of your income," or something similar. $350 yearly maint. fees turned into about $2000, give or take. I was happy to get out of that by accepting $1700 to give back my timeshare. I really feel bad for these peoples' souls when they pass on...NOT!!!
When I retired, I did some research on the company that I rolled over my annuities into. No bad news (that I could find) was good news to me.
I wish you a lot of luck. A few thousand dollars is one thing, but well over 6 digits is a lot for me. So far, so good. Money brings out the worst for many. If the guy has a permanent smile on his face, it's a no-go. And always face to face initial dealings, with local office.
What they're doing to you, chief38, just picks me off royally. Good luck and thank you for the heads up.

 

[torizus]

Every comment above is spot on and good advice.

I/m sure you will recover all your funds as long as you are persistent and remain somewhat nice. At this point, they have you over a barrel with most likely small print restrictions. I have to believe that it is within policy to make exceptions.
Once the flow of return comes your way and you get the majority of what you invested, then you might let em have both barrels.
Investigations,litigation etc can sometimes provide them the excuse to stall. The amount in question will no doubt be a measure of their level of resistance.

For future reference,.if it is preceded with "Illinois", proceed with caution.
This from an life long Il resident, the banking industry wields tremendous clout in these parts.

Stay the course.

 

[deadin]

What the bank is doing may be legal, but is it ethical?
If money is involved ethics tend to go out the window..l

 

[Kenna]

Spoke with wife about this, shes been in banking all her life and yes Illinois.
Money market accts. are set up that way so you dont use it as a checking acct. The more transactions they need to process reduces the income being made by that acct for the client and the bank, many times they have had to
open a plain checking for clients due to high volume of checks wrote or large dollar amounts. She states march is around the corner you should be able to write on large check to yourself and closeout the acct!! NO She doesnt work for BMO/ Harris.

 

[Jessie]

A banks number one motto is " Time is money"
The longer they have it, the more they make off of it.

 

[Jon651]

Here's a question nobody has yet to ask but is burning me up to find out:

Did you at least get a toaster???

 

[THE PILGRIM]

That Bank in Boulder, of all places, used to 'Give ' away Weatherbys.
As I recall, you signed up for fairly large CD for several years.

 

[DeathGrip]

When I read the title I thought for sure this was going to be about Wells Fargo.

I guessed Bank of America.

 

[moosedog]

I use Credit Unions rather than banks. Banks are always morphing.

 

[glenwolde]

The proper Federal Regulator would be the Comptroller of the Currency, but I think you're going to find that you failed to read the paperwork.

 

[cherrypointmarine]

I had a check written to me on a local bank . I have never been with a bank , always Credit Unions . I was going to deposit it , but figured I'd cash it and put some cash in the safe . Now this was written to me on their bank . I went in to cash it and they asked if I had an account , I said no .

Now it gets interesting . They wouldn't cash it unless I paid a fee . I couldn't understand it . A check , written on their bank , to me and they wanted to charge me . It was for $6500 and they wanted a 1% fee , you do the math .

I asked for the manager and told them what I thought . Also I don't deal with banks and never will . They don't care , they'll find another sucker .

Took it to my CU , deposited it and it was credited to my account immediately . I don't know if there's any decent banks out there and I don't care , I'll stick with a CU any time .

 

[jeffrefrig]

I/we use a bank and a credit union. The bank was my wife's before we got married, a small bank with maybe 6 locations. They were always good to us and I joined the credit union when I got hired by the PGH Public Schools. They have always been good. Both will put a halt on our debit cards if something is fishy, and they've saved us quite a bit of money. They will call and I will give them answers to a couple questions, nothing about SS# or anything, just Gramma's first name, etc. Recently the bank has been taken over by another. So far, so good. The only credit card I use is the one through the CU, although at Christmas some places like Penneys and Macys will give you an incentive to use their card, but I pay it off in full before the 600% kicks in!
I've had that same problem as cherrypointmarine. I could never understand that one. Don't they trust their own checks??

 

[S42N8]

I guessed Bank of America.

+1. BoA is... well, I'd accrue Forum demerits if I were to speak plainly.

 

[oddshooter]

First issue is to never close an account. Just spend down or transfer money to another account every few days. The word "close" is what triggers most Banks to get cute and start grabbing and charging fees and special expenses.

BNY Mellon kept our money for months after we transferred our Trust to another Financial Institution. In the end, they still held 5k just in case something came up.
Once our attorney called, it all got released.
We have usually had several attorneys in different specialties. I always had a BullDog attorney who loved to rip banks up. His name alone should strike fear into their hearts. Ask the Clerk of the Court who is the most hated attorney in town; he's your man.

I have found that calling the head of Investor Relations for the Bank gets the best responses. They don't know if you own one share or ten thousand; but the threat of an SEC inquiry moves mountains.

Prescut

 

[Golddollar]

That Bank in Boulder, of all places, used to 'Give ' away Weatherbys.
As I recall, you signed up for fairly large CD for several years.

Unless my memory is totally inaccurate, I seem to remember a bank up in Bloomsburg, PA doing the same thing.

It sort of sticks in my mind that some spoilsport pointed out that the value of the rifle had to be declared on the recipient's Federal income tax return as "prepaid interest" taxable income.

 

[chief38]

Well at 67 I must say this has been the absolute worst banking experience I have ever had. I've dealt with with banks all over the Country and have had similar type of accounts with no issues like I am experiencing now.

Again - the purpose here is to give you Fella's a heads up!

 

[Pisgah]

I hate to tell you, but I have no doubt you have signed a binding document allowing them to do exactly as they are doing. In fact, if anyone ever bothered to read most account agreements, you'll find much the same.