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post #31 of 42
My experience has been that sometimes service at a bank is dependent on the management at any particular time. I've used banks and trust companies that have given me small amounts of grief but it was due solely to the management at that time. I've been a customer of CIBC for about 30 years and have had no problems with them at all. They have assigned one of their people to be our "personal banker". Anything I need or information I require, I simply call her and she looks after our needs.

About a month after we moved some years ago, we needed a small loan ($1,000) for about 1 month before I had some money I was expecting. My hubby's bank Manager (he uses a different bank than I do) transferred the $1,000 to my account in another bank that very day, and all he did was ask that we come in sometime over the next few weeks and sign the loan papers. So essentially he gave us the money without our signatures.

I think you should make an appointment and go in personally to see the bank manager and get all the information before taking any further steps. It may well be just a huge mixup and easily straightened out. It may also serve to put you in a better relationship with the bank so that any future problems would be resolved in a more friendly manner.
post #32 of 42
Thread Starter 
Quote:
Originally Posted by Crazyforinfo View Post
The bank may require your signature to release the funds.
Read up about the Patriot Act. Banks are required to have 2 pieces of ID on their system. If they do not have the proper id, contact info or SSI they are required to close the account. This is a government regulation but a bank rule. The government also tells the bank what ID's are acceptable. The bank may choose to accept half the list but they can't accept anything that isn't stated on the government list. For instance my bank(I worked at for 7 years) would not accept Non-Driver's license but did accept: Government ID, Driver's license, & Passport. There are other rules for non-Americans in the US. This all about after September 11th.
I gave them my driving license, my SS card, my state ID card and my US Passport when I opened the account, that is definitely not the reason to the account closure.
After talking to them they told me the reason was this:

We had to close your account since the fact that you sent too many wires online. This type of transactions isn't appropriate for your account, which is a Personal account, thus you must have a Business account in order to make such transactions. In addition, we'd like to remind you that according to our Terms & Conditions we have the right to close your account at anytime with or without reason.

That is more or less what they said.

So I asked them:

You say you can close my account without a reason?

And they said:

Yes, that is correct, we have no obligation to explain why we do a such step, even though you got your explanation already which is the wires issues.

And I ask them:

I did like 5 or 6 wires, what exactly is wrong with it? Look, I did transfer money to my relative here, here it was for a company etc etc...

And they have the nerve to tell me:

It doesn't matter what you did. If you want to make a wire transfer you should either go to the branch and make it from there or don't make it at all. The online feature is for ***Business Accounts*** not a personal account.

And I:

What, are you crazy or what? When I opened the account I got the option and the feature to use ***Online Banking*** - your online banking provides me with an option to send wires online! So you should either take off this option from Perosnal accounts and put it only for Business ones, or you should don't play with people, this is ridiculous!

And this lady goes:

I'm sorry, but there's nothing I can do about it. Is there anything else I can assist you with?

post #33 of 42
Quote:
Originally Posted by Cairo View Post
I agree! You really have no grounds to file a complaint if you don't comply with the basic requests they may have made, especially if they closed the account based on ID needs. I would pay them a visit and try to find out what went wrong before filing any complaints.
She very well may have grounds, even if she didn't comply with whatever their terms and conditions are, or whatever basic requests they may have made. Simply because the bank says that's the way it is does not necessarily mean that the bank is complying with laws. People sign "no sue" clauses all the time and while you can agree to arbitrate first, you can never legally sign away your right to sue (not that this particularly applies to the bank. It's just an example of things people sign and think it's a law because they signed it.)

Quote:
Originally Posted by Yosemite View Post
My experience has been that sometimes service at a bank is dependent on the management at any particular time. I've used banks and trust companies that have given me small amounts of grief but it was due solely to the management at that time. I've been a customer of CIBC for about 30 years and have had no problems with them at all. They have assigned one of their people to be our "personal banker". Anything I need or information I require, I simply call her and she looks after our needs.
I think you should make an appointment and go in personally to see the bank manager and get all the information before taking any further steps. It may well be just a huge mixup and easily straightened out. It may also serve to put you in a better relationship with the bank so that any future problems would be resolved in a more friendly manner.
Definitely talk to the manager.

Quote:
Originally Posted by arie85 View Post
I gave them my driving license, my SS card, my state ID card and my US Passport when I opened the account, that is definitely not the reason to the account closure.
After talking to them they told me the reason was this:

We had to close your account since the fact that you sent too many wires online. This type of transactions isn't appropriate for your account, which is a Personal account, thus you must have a Business account in order to make such transactions. In addition, we'd like to remind you that according to our Terms & Conditions we have the right to close your account at anytime with or without reason.

That is more or less what they said.

So I asked them:

You say you can close my account without a reason?

And they said:

Yes, that is correct, we have no obligation to explain why we do a such step, even though you got your explanation already which is the wires issues.

And I ask them:

I did like 5 or 6 wires, what exactly is wrong with it? Look, I did transfer money to my relative here, here it was for a company etc etc...

And they have the nerve to tell me:

It doesn't matter what you did. If you want to make a wire transfer you should either go to the branch and make it from there or don't make it at all. The online feature is for ***Business Accounts*** not a personal account.

And I:

What, are you crazy or what? When I opened the account I got the option and the feature to use ***Online Banking*** - your online banking provides me with an option to send wires online! So you should either take off this option from Perosnal accounts and put it only for Business ones, or you should don't play with people, this is ridiculous!

And this lady goes:

I'm sorry, but there's nothing I can do about it. Is there anything else I can assist you with?

If their online banking system is set up for people with personal accounts to do wire transfers then I don't see how the fault lies with you. If they grant you that access with a personal account, then that's on them, and obviously as an institution with a website that will allow that transaction, it's on them. I've never had an online account that will allow you to do things that you aren't allowed to do from your account. The links just simply aren't offered, or you'll get an error message saying, you can't do this from your account, or.. something to that effect.
post #34 of 42
http://www.fdic.gov/consumers/consum...irs/index.html


I'd call and talk to a customer service rep at the FDIC. They'll be able to actually tell you whether or not the bank is violating any regulations or anything.
post #35 of 42
Cousin Eddie would bury his money in coffee jars and bury them in various places all over his property...

Sorry, but I needed to write that. I find humor in everything. It's what keeps me from having a meltdown.
(By the way, Cousin Eddie is the character from the "Vegas Vacation" and other "vacation" movies).
post #36 of 42
On my account, I have my savings, chequing and a joint chequing linked so the options for my personal chequing (which is the higher tier plan as the one I do most of my banking from) shows for all three and is not included in my plan.

It is quite unusual for a personal business customer to do wire transfers, my mum and I occasionally wire money to each other and I had to get permission from the bank to set that up on my account (otherwise the bank can hold the funds for a month or until you change the account to one that allows it) and we send maybe 4 a year each.
post #37 of 42
I currently have four accounts, between two different banks, and as an online customer (or for that matter, as a customer even if you're not online), they both transfer money for free within their bank, from account to account. I transfer money between my accounts (within the same bank) on a regular basis. I can even transfer money to my mother with no problems because she's got an account there too, although I can't do that online since I'm not linked to her account.

I am not sure what qualifies as a wire transfer, but we certainly do online checks and payments frequently. Perhaps we're thinking of different things (or I'm thinking of something different) but I don't see it as unusual in today's high tech internet based world. Not at all. And given that technology they surely should have been able to have their webmaster make it available to those customers who qualify for it and not to those who don't, even between accounts for the same customer.

That being said, I don't think she had multiple accounts there, but even if she did... it's like the bank saying.... here's a free toaster. Take your free toaster. Oh, you took the toaster, geeze, well, now we have to close your account.
post #38 of 42
Quote:
Originally Posted by CatsAreBetter View Post
I currently have four accounts, between two different banks, and as an online customer (or for that matter, as a customer even if you're not online), they both transfer money for free within their bank, from account to account. I transfer money between my accounts (within the same bank) on a regular basis. I can even transfer money to my mother with no problems because she's got an account there too, although I can't do that online since I'm not linked to her account.

I am not sure what qualifies as a wire transfer, but we certainly do online checks and payments frequently. Perhaps we're thinking of different things (or I'm thinking of something different) but I don't see it as unusual in today's high tech internet based world. Not at all. And given that technology they surely should have been able to have their webmaster make it available to those customers who qualify for it and not to those who don't, even between accounts for the same customer.

That being said, I don't think she had multiple accounts there, but even if she did... it's like the bank saying.... here's a free toaster. Take your free toaster. Oh, you took the toaster, geeze, well, now we have to close your account.
A wire transfer is sent from one bank to another bank through FedWire. The funds are immediately w/d from the customers account, deposited in the banks wiring account and sent electrically to the receiving bank to disperse to the customer.

Personal accounts are NOT allowed to do wires online where I worked.
Arie...that bank needs to update their software but it's easier said than done.
post #39 of 42
Thread Starter 
Quote:
Originally Posted by Crazyforinfo View Post
Personal accounts are NOT allowed to do wires online where I worked.
Arie...that bank needs to update their software but it's easier said than done.
I'm going to find it out, but really thank you for that info and all those who gave me info above, it's really helping

by the way all the above isn't related to the website in my signature (the gptreasure one), this website is something I'm not working alone on it and we have a Business account and business registered with a lawyer and all the proper and appropriate by-the-book steps

So that is why it's freaking me out, I used my personal account to make personal transfers and yet the account got closed :\\

So yeah... I will try and find out what exactly is the problem with it

Thanks again
post #40 of 42
Quote:
Originally Posted by arie85 View Post
I'm going to find it out, but really thank you for that info and all those who gave me info above, it's really helping

by the way all the above isn't related to the website in my signature (the gptreasure one), this website is something I'm not working alone on it and we have a Business account and business registered with a lawyer and all the proper and appropriate by-the-book steps

So that is why it's freaking me out, I used my personal account to make personal transfers and yet the account got closed :\\

So yeah... I will try and find out what exactly is the problem with it

Thanks again
Did you ever transfer Business to personal?
post #41 of 42
Thread Starter 
Quote:
Originally Posted by Crazyforinfo View Post
Did you ever transfer Business to personal?
Not that I recall...
post #42 of 42
Quote:
Originally Posted by Crazyforinfo View Post
A wire transfer is sent from one bank to another bank through FedWire. The funds are immediately w/d from the customers account, deposited in the banks wiring account and sent electrically to the receiving bank to disperse to the customer.

Personal accounts are NOT allowed to do wires online where I worked.
Arie...that bank needs to update their software but it's easier said than done.
Ahh, okay, yeah, mine were all same bank to same bank, although I did do one from my bank to another, but it was via phone. And the following attitude of mine isn't directed at anyone who works at a bank, has worked for a bank, or you Crazy... 'cause I know I'm about to be a little anti-bank below.

It may not be the easiest thing for them to update it, although I'd say that part of it is debatable as to whether or not that's an excuse for them, given what technology is these days, but.. the bigger thing here is given that they don't have their software updated... um, instead of taking it out on the customer they needed to engage in customer service and say, oh, you know what, we're sorry, it's our fault that you were able to make those because we didn't fix our software.. not "oh, it's your fault for using software we made available to you".

Heh, sorry, I'm full of angst for banks these days. I love their infamous "put it to the customer" routines. I've been dirt poor for far too long at times in my life to appreciate how difficult it is for a bank to get their act together especially considering how quickly they'll put it to a customer when the customer makes the tiniest mistake (and the bank takes complete and total advantage of it to the fullest extent).
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