Banking troubles
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The thing is that *you* are the one who is down $800 here; if *you* had done something to erroneously take $800 off the bank they'd have been onto you faster than you can blink.
No doubts about that!
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I started an account with Bank of America a week and a half ago, and I used a Canadian ATM card (TD Canada Trust) in BOA’s ATM to withdraw some money (USD 800). The transaction went through perfectly fine, but the machine did not dispense the money. A banking associate was witness to this and he said that BOA couldn’t do anything about it even though the ATM was theirs, and that I would have to call my Canadian bank and get the transaction reversed. He let me use his PC to check my TD account online and I saw that the money had been taken out of my TD account. He let me use the phone to call my Canadian bank (TD), and they (TD) said they said they’d start an investigation immediately, and if BOA would confirm what happened, they’d reverse the transaction. I was given a ref: number for the investigation that I could use to follow up if nothing happened in *2-3* business days. This happened last Thursday, and I did not see a transaction reversal when I checked this morning. I called up my Canadian bank (TD) and they redirected me to the wrong place first after putting me on hold for 10 minutes. I called them up again and after more hold-time, the person on the other end tells me that the normal investigation time for such cases is 35 business days! I asked them if they have even heard about facilities like internet, and fax; and they tell me that they have all of those facilities, but the paper work is still time-consuming. Who is to be blamed here? The programmers who designed the banking system without a quick online facility to reverse transactions? Or the banking experts who decided that transaction-reversals still have to be done the old fashioned way? Does it take 35 business days to verify an error in an ATM and report it? Again, why does it take 3-4 weeks to realize a Canadian check from the US (the reason why I used my ATM to quickly transfer some funds)? Right now, I have USD 800 debited from my bank account, and neither TD nor BOA seems to be able to give me an immediate solution. The status of that money is uncertain, and I am truly disappointed that this happened despite the fact that the two banks in question are leading banks in their respective countries.
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I think you should now call Clark Howard consumer action center in Atlanta. Go to http://clarkhoward.com/[^] and call the number of consumer action center. They will help you as much as possible.
Debugging is twice as hard as writing the code in the first place. Therefore, if you write the code as cleverly as possible, you are, by definition, not smart enough to debug it. -Brian Kernighan
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Ironically, when I first moved to Atlanta, I also opened a Bank of America account and had a problem with them. Basically it wound up with me having to go to the bank and demand they give me my money or I would sue and the wussy manager folded in about 2 seconds. Needless to say, I closed my account on the spot and went elsewhere. BofA and BankOne are both on my Do-Not-Bank-With list.
Red Stateler wrote:
Basically it wound up with me having to go to the bank and demand they give me my money or I would sue...
I think I should have done something similar. Cheers Smitha
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My only advice is to call each bank once per day. Don't let up (not to be confused with being mean). Keep a detailed log of who you spoke with each time.
"Approved Workmen Are Not Ashamed" - 2 Timothy 2:15
"Judge not by the eye but by the heart." - Native American Proverb
I had a similar problem with an international wire transfer that was paid to me. It went "missing" in the systems somewhere. My bank claimed it was the senders bank fault. The sender claimed the opposite. I was told it could take 3 months for my bank to investigate the matter. No way could I have waited 3 months!!! Fortunately, the senders bank were able to send me proof that my bank had received the payment - so that made it easy - it can only be the fault of my bank! I raised the complaint as high as I could possibly go - got that individual's direct line number and phoned them once every hour or so asking what progress had been made since my last call. At the same time I began phoning the international head office asking to speak with the chief executive - quoting all the various references pertaining to my case. I didn't have to make very many calls before I was called back with "we've found your money! - it has been refuneded, please accept our apologies for any inconvenience". I never did get to speak with the chief executive - shame really.
-- The Obliterator
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Ironically, when I first moved to Atlanta, I also opened a Bank of America account and had a problem with them. Basically it wound up with me having to go to the bank and demand they give me my money or I would sue and the wussy manager folded in about 2 seconds. Needless to say, I closed my account on the spot and went elsewhere. BofA and BankOne are both on my Do-Not-Bank-With list.
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The longer it takes, the more interest they make out of those combined "mistakes". It's funny, technology hasn't sped things up for us to get our money, only to lose it. Hare one way, tortoise the other.
"I know which side I want to win regardless of how many wrongs they have to commit to achieve it." - Stan Shannon Web - Blog - RSS - Math - LinkedIn
Bassam Abdul-Baki wrote:
The longer it takes, the more interest they make
That explains it I guess.
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My only advice is to call each bank once per day. Don't let up (not to be confused with being mean). Keep a detailed log of who you spoke with each time.
"Approved Workmen Are Not Ashamed" - 2 Timothy 2:15
"Judge not by the eye but by the heart." - Native American Proverb
DavidCrow wrote:
My only advice is to call each bank once per day. Don't let up (not to be confused with being mean).
That was exactly what I wanted to do, but now that they have told me about the *35* days delay, do you think it still helps calling them everyday? I guess they'd keep repeating what they told me already. Or will they get sick of my calls and do something immediately?
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I think you should now call Clark Howard consumer action center in Atlanta. Go to http://clarkhoward.com/[^] and call the number of consumer action center. They will help you as much as possible.
Debugging is twice as hard as writing the code in the first place. Therefore, if you write the code as cleverly as possible, you are, by definition, not smart enough to debug it. -Brian Kernighan
Thanks for the link Rama!
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DavidCrow wrote:
My only advice is to call each bank once per day. Don't let up (not to be confused with being mean).
That was exactly what I wanted to do, but now that they have told me about the *35* days delay, do you think it still helps calling them everyday? I guess they'd keep repeating what they told me already. Or will they get sick of my calls and do something immediately?
Are you an aspiring author? Read how to submit articles to CodeProject: Article Submission Guidelines[^] More questions? Ask an editor here...
Definitly yes, you can call them every day, or even more often! And the idea of getting try to get to chief executive is great! I would strongly advice to do that. Good luck!
Sincerely, Elina Life is great!!! Enjoy every moment of it! :-O
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I started an account with Bank of America a week and a half ago, and I used a Canadian ATM card (TD Canada Trust) in BOA’s ATM to withdraw some money (USD 800). The transaction went through perfectly fine, but the machine did not dispense the money. A banking associate was witness to this and he said that BOA couldn’t do anything about it even though the ATM was theirs, and that I would have to call my Canadian bank and get the transaction reversed. He let me use his PC to check my TD account online and I saw that the money had been taken out of my TD account. He let me use the phone to call my Canadian bank (TD), and they (TD) said they said they’d start an investigation immediately, and if BOA would confirm what happened, they’d reverse the transaction. I was given a ref: number for the investigation that I could use to follow up if nothing happened in *2-3* business days. This happened last Thursday, and I did not see a transaction reversal when I checked this morning. I called up my Canadian bank (TD) and they redirected me to the wrong place first after putting me on hold for 10 minutes. I called them up again and after more hold-time, the person on the other end tells me that the normal investigation time for such cases is 35 business days! I asked them if they have even heard about facilities like internet, and fax; and they tell me that they have all of those facilities, but the paper work is still time-consuming. Who is to be blamed here? The programmers who designed the banking system without a quick online facility to reverse transactions? Or the banking experts who decided that transaction-reversals still have to be done the old fashioned way? Does it take 35 business days to verify an error in an ATM and report it? Again, why does it take 3-4 weeks to realize a Canadian check from the US (the reason why I used my ATM to quickly transfer some funds)? Right now, I have USD 800 debited from my bank account, and neither TD nor BOA seems to be able to give me an immediate solution. The status of that money is uncertain, and I am truly disappointed that this happened despite the fact that the two banks in question are leading banks in their respective countries.
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Smitha Vijayan wrote:
I started an account with Bank of America
error, error, error.... does not compute.
Smitha Vijayan wrote:
and I used a Canadian ATM card (TD Canada Trust)
error, error, error.... ;)
Smitha Vijayan wrote:
The status of that money is uncertain, and I am truly disappointed that this happened despite the fact that the two banks in question are leading banks in their respective countries.
well, I could add something else to this, but it would have to go into the soapbox. I think I know where the problem is, and I expect it will take a long while. I would start planning how to do without that money for a very long time.
_________________________ Asu no koto o ieba, tenjo de nezumi ga warau. Talk about things of tomorrow and the mice in the ceiling laugh. (Japanese Proverb)
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DavidCrow wrote:
My only advice is to call each bank once per day. Don't let up (not to be confused with being mean).
That was exactly what I wanted to do, but now that they have told me about the *35* days delay, do you think it still helps calling them everyday? I guess they'd keep repeating what they told me already. Or will they get sick of my calls and do something immediately?
Are you an aspiring author? Read how to submit articles to CodeProject: Article Submission Guidelines[^] More questions? Ask an editor here...
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I had a similar problem with an international wire transfer that was paid to me. It went "missing" in the systems somewhere. My bank claimed it was the senders bank fault. The sender claimed the opposite. I was told it could take 3 months for my bank to investigate the matter. No way could I have waited 3 months!!! Fortunately, the senders bank were able to send me proof that my bank had received the payment - so that made it easy - it can only be the fault of my bank! I raised the complaint as high as I could possibly go - got that individual's direct line number and phoned them once every hour or so asking what progress had been made since my last call. At the same time I began phoning the international head office asking to speak with the chief executive - quoting all the various references pertaining to my case. I didn't have to make very many calls before I was called back with "we've found your money! - it has been refuneded, please accept our apologies for any inconvenience". I never did get to speak with the chief executive - shame really.
-- The Obliterator
Obliterator wrote:
phoned them once every hour or so asking what progress had been made since my last call.
Wow!
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I started an account with Bank of America a week and a half ago, and I used a Canadian ATM card (TD Canada Trust) in BOA’s ATM to withdraw some money (USD 800). The transaction went through perfectly fine, but the machine did not dispense the money. A banking associate was witness to this and he said that BOA couldn’t do anything about it even though the ATM was theirs, and that I would have to call my Canadian bank and get the transaction reversed. He let me use his PC to check my TD account online and I saw that the money had been taken out of my TD account. He let me use the phone to call my Canadian bank (TD), and they (TD) said they said they’d start an investigation immediately, and if BOA would confirm what happened, they’d reverse the transaction. I was given a ref: number for the investigation that I could use to follow up if nothing happened in *2-3* business days. This happened last Thursday, and I did not see a transaction reversal when I checked this morning. I called up my Canadian bank (TD) and they redirected me to the wrong place first after putting me on hold for 10 minutes. I called them up again and after more hold-time, the person on the other end tells me that the normal investigation time for such cases is 35 business days! I asked them if they have even heard about facilities like internet, and fax; and they tell me that they have all of those facilities, but the paper work is still time-consuming. Who is to be blamed here? The programmers who designed the banking system without a quick online facility to reverse transactions? Or the banking experts who decided that transaction-reversals still have to be done the old fashioned way? Does it take 35 business days to verify an error in an ATM and report it? Again, why does it take 3-4 weeks to realize a Canadian check from the US (the reason why I used my ATM to quickly transfer some funds)? Right now, I have USD 800 debited from my bank account, and neither TD nor BOA seems to be able to give me an immediate solution. The status of that money is uncertain, and I am truly disappointed that this happened despite the fact that the two banks in question are leading banks in their respective countries.
Are you an aspiring author? Read how to submit articles to CodeProject: Article Submission Guidelines[
My 3 cents based on my banking industry experience. 1. Never use Bank of America. They are the worst bank for the consumers. 2. When you open an account in US always use Credit unions. 3. If you want to withdraw money from your Canada (CDN) account then deposit a check into your US account (USD). Get cash from the teller at the same time. But conversion rates comes into effect. OR Open USD account in TD bank in Canada with enough money there and write a check to yourself to your US account in any US bank. Straightforward, no rate conversion headache. Don't panic Nish. You will get your money.
రవికాంత్
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The thing is that *you* are the one who is down $800 here; if *you* had done something to erroneously take $800 off the bank they'd have been onto you faster than you can blink.
I think the moral of the story is to *never* use an ATM card in a guest ATM - and if you really cannot avoid doing that, then to minimize the amount you are withdrawing.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
Currently working on C++/CLI in Action for Manning Publications. Also visit the Ultimate Toolbox blog -
My 3 cents based on my banking industry experience. 1. Never use Bank of America. They are the worst bank for the consumers. 2. When you open an account in US always use Credit unions. 3. If you want to withdraw money from your Canada (CDN) account then deposit a check into your US account (USD). Get cash from the teller at the same time. But conversion rates comes into effect. OR Open USD account in TD bank in Canada with enough money there and write a check to yourself to your US account in any US bank. Straightforward, no rate conversion headache. Don't panic Nish. You will get your money.
రవికాంత్
Kant wrote:
3. If you want to withdraw money from your Canada (CDN) account then deposit a check into your US account (USD). Get cash from the teller at the same time. But conversion rates comes into effect.
They said checks take 5-6 weeks to realize.
Kant wrote:
Don't panic Nish. You will get your money.
:) It's a good thing she's handling this (it was her card). Had it been me making those long phone calls - I'd have had a cardiac arrest now - specially when every call gives stupider responses from the customer service people.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
Currently working on C++/CLI in Action for Manning Publications. Also visit the Ultimate Toolbox blog -
Kant wrote:
3. If you want to withdraw money from your Canada (CDN) account then deposit a check into your US account (USD). Get cash from the teller at the same time. But conversion rates comes into effect.
They said checks take 5-6 weeks to realize.
Kant wrote:
Don't panic Nish. You will get your money.
:) It's a good thing she's handling this (it was her card). Had it been me making those long phone calls - I'd have had a cardiac arrest now - specially when every call gives stupider responses from the customer service people.
Regards, Nish
Nish’s thoughts on MFC, C++/CLI and .NET (my blog)
Currently working on C++/CLI in Action for Manning Publications. Also visit the Ultimate Toolbox blogNishant Sivakumar wrote:
They said checks take 5-6 weeks to realize.
Yeah. They say that every time. But it gets cleared within 2 weeks. I used this option and works great. "Open USD account in TD bank in Canada with enough money there and write a check to yourself to your US account in any US bank. Straightforward, no rate conversion headache."
రవికాంత్
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My 3 cents based on my banking industry experience. 1. Never use Bank of America. They are the worst bank for the consumers. 2. When you open an account in US always use Credit unions. 3. If you want to withdraw money from your Canada (CDN) account then deposit a check into your US account (USD). Get cash from the teller at the same time. But conversion rates comes into effect. OR Open USD account in TD bank in Canada with enough money there and write a check to yourself to your US account in any US bank. Straightforward, no rate conversion headache. Don't panic Nish. You will get your money.
రవికాంత్
Kant wrote:
2. When you open an account in US always use Credit unions.
Don't most CU's restrict membership to employees of partner companies and current members immediate familes? I've gotten into a local credit union curtesy of my employer but that's not always an option depending on who you're working for. My CU offers lousy rates on it's savings accounts (hardly unique), and I don't want to tie my saving for a house money down in CDs, so I've opened a savings acount with emigrants direct. So far I haven't had any issues other than it takes several days for the electronic transfers to go through.
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Kant wrote:
2. When you open an account in US always use Credit unions.
Don't most CU's restrict membership to employees of partner companies and current members immediate familes? I've gotten into a local credit union curtesy of my employer but that's not always an option depending on who you're working for. My CU offers lousy rates on it's savings accounts (hardly unique), and I don't want to tie my saving for a house money down in CDs, so I've opened a savings acount with emigrants direct. So far I haven't had any issues other than it takes several days for the electronic transfers to go through.
dan neely wrote:
Don't most CU's restrict membership to employees of partner companies and current members immediate familes?
Traditionally, yes. But most of them have been relaxing those rules lately.
every night, i kneel at the foot of my bed and thank the Great Overseeing Politicians for protecting my freedoms by reducing their number, as if they were deer in a state park. -- Chris Losinger, Online Poker Players?
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My only advice is to call each bank once per day. Don't let up (not to be confused with being mean). Keep a detailed log of who you spoke with each time.
"Approved Workmen Are Not Ashamed" - 2 Timothy 2:15
"Judge not by the eye but by the heart." - Native American Proverb
-
Definitly yes, you can call them every day, or even more often! And the idea of getting try to get to chief executive is great! I would strongly advice to do that. Good luck!
Sincerely, Elina Life is great!!! Enjoy every moment of it! :-O
Thanks Elina! Cheers Smitha
Are you an aspiring author? Read how to submit articles to CodeProject: Article Submission Guidelines[^] More questions? Ask an editor here...