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Fun with major national banks!
May. 4th, 2007 04:07 amTwo weeks ago was my first paycheck working for the City of Las Cruces! And joy of joys, the direct deposit went straight in -- no "first pay period will probably be a check". So I was very happy. Since I'm in the IT department and we run the payroll, I sorta had first-hand information here.
So I check my bank in Alamogordo, and there's 20% of my check. Check my bank in Phoenix, which shall remain nameless (Chase, formerly Bank One, formerly Valley National Bank), and the other 80% ain't there.
Phone calls ensue. My personal banker in Phoenix doesn't see the deposit. So I call online services. They don't see the deposit. I've double-checked with our payroll people, we verify that the correct routing and account numbers were fed into the system. We further verify that the city's bank, Wells-Fargo, did not reject the transaction -- they're the first stop on direct deposits. And finally, Chase hadn't rejected the transmission -- the city payroll people called Wells-Fargo and confirmed that.
So eventually we get ahold of The Nameless Bank's electronic deposit group. Finally they confirm that they have my money. They confirm that the information is correct. And then they say that they will decide on Monday whether they're going to put my money into my account or reject the transaction.
No other explanation. Just that we're going to hold your money for four days and we're not going to say why.
Monday comes around and The Bank That Shall Not Be Named decide to cancel the transaction, so the City writes me a check. Unfortunately I won't be in Alamogordo/Cloudcroft to deposit it until Saturday. Thus, very cash-short and can't pay bills for a week.
So I start researching banks. There's no way that I'm continuing with The Nameless Bank after that crap. I go online and I'm looking for two things. First, I want free electronic bill pay. Second, I want free downloads of account information into Quicken. Turns out that Bank of America offers both! But the web site wasn't clear about the Quicken part, so I call them and ask them specifically, and they say it's free. So I go through an online application application process to open an account. Everything gets approved, so a week ago I go to the branch to deposit the check from The City.
Turns out that I'd been misinformed. Quicken downloads are free for the first two months, then it's $7 or so per month thereafter. I ran into exactly the same thing from Chase. Not at all happy about not receiving incorrect information, but I figure I'll go ahead and stick with them for a while and leisurely find another bank. I fill out a deposit slip and go to the teller to make my initial deposit, basically put the full amount in less $100 for pocket money, expecting to be able to pay bills online. Turns out that the teller cannot give me ANY MONEY AT ALL, for at least two days or something, and the rest of the money wouldn't be available for a week. Turns out that if you apply for the account online instead of with an office drone, that there is an additional hold on the initial deposit. Gee, funny the web site didn't mention it when you're going through the application process for an account that says you have to apply for online! Apparently if I had gone through the application process with the office drone, they could have over-ridden the hold. Wow, that online application process sure makes things better!
I guess the City of Las Cruces isn't good enough to think the check will be covered!
Screw this! My blood pressure was up enough that I didn't need any more of their kaka de toro, so I left, check and deposit slip in hand. I think this was Thursday. Last Saturday I'm finally in Cloudcroft, so I get the check deposited with my original NM bank. I pay a bill or two, and my debit card now has money behind it.
Back up slightly to the evening of the B of A encounter. I sit down with the phone book and contact every bank that has a web site. I look over their web site about their bill pay and downloads. Many I email directly, others have comment/response forms on their site. I ask them the two questions about electronic bill pay and Quicken downloads. All in all, I contact eight or nine banks. The second-to-last bank that I pull up looks like they meet my requirements, they're the only one that clearly states on their site that I can do what I want for free. And they're literally across the street from City Hall, in whose basement I dwell for 45 hours a week (including lunches, going in a little early and staying a little late).
How many responses did I receive from these online queries? ONE.
So yesterday I walked across the street during my lunch and opened an account. With whom did I open the account? With the second-to-last one.
Now here's the best part -- they are giving away FREE TOASTERS WITH NEW ACCOUNTS! I'm actually going to get a free toaster, and I actually can use one! I would prefer a toaster oven, but I can't complain about the price, and the woman said it's a very good toaster, so worst possible case I buy a toaster oven and give the toaster to Goodwill and take an write-off on my taxes.
*sigh* I really hate banks. They're like insurance companies, a necessary evil.
(and I really hate waking up at 3:30 in the morning)
(and I really need to stop leading off sentences with So... I try, honest I do!)
So I check my bank in Alamogordo, and there's 20% of my check. Check my bank in Phoenix, which shall remain nameless (Chase, formerly Bank One, formerly Valley National Bank), and the other 80% ain't there.
Phone calls ensue. My personal banker in Phoenix doesn't see the deposit. So I call online services. They don't see the deposit. I've double-checked with our payroll people, we verify that the correct routing and account numbers were fed into the system. We further verify that the city's bank, Wells-Fargo, did not reject the transaction -- they're the first stop on direct deposits. And finally, Chase hadn't rejected the transmission -- the city payroll people called Wells-Fargo and confirmed that.
So eventually we get ahold of The Nameless Bank's electronic deposit group. Finally they confirm that they have my money. They confirm that the information is correct. And then they say that they will decide on Monday whether they're going to put my money into my account or reject the transaction.
No other explanation. Just that we're going to hold your money for four days and we're not going to say why.
Monday comes around and The Bank That Shall Not Be Named decide to cancel the transaction, so the City writes me a check. Unfortunately I won't be in Alamogordo/Cloudcroft to deposit it until Saturday. Thus, very cash-short and can't pay bills for a week.
So I start researching banks. There's no way that I'm continuing with The Nameless Bank after that crap. I go online and I'm looking for two things. First, I want free electronic bill pay. Second, I want free downloads of account information into Quicken. Turns out that Bank of America offers both! But the web site wasn't clear about the Quicken part, so I call them and ask them specifically, and they say it's free. So I go through an online application application process to open an account. Everything gets approved, so a week ago I go to the branch to deposit the check from The City.
Turns out that I'd been misinformed. Quicken downloads are free for the first two months, then it's $7 or so per month thereafter. I ran into exactly the same thing from Chase. Not at all happy about not receiving incorrect information, but I figure I'll go ahead and stick with them for a while and leisurely find another bank. I fill out a deposit slip and go to the teller to make my initial deposit, basically put the full amount in less $100 for pocket money, expecting to be able to pay bills online. Turns out that the teller cannot give me ANY MONEY AT ALL, for at least two days or something, and the rest of the money wouldn't be available for a week. Turns out that if you apply for the account online instead of with an office drone, that there is an additional hold on the initial deposit. Gee, funny the web site didn't mention it when you're going through the application process for an account that says you have to apply for online! Apparently if I had gone through the application process with the office drone, they could have over-ridden the hold. Wow, that online application process sure makes things better!
I guess the City of Las Cruces isn't good enough to think the check will be covered!
Screw this! My blood pressure was up enough that I didn't need any more of their kaka de toro, so I left, check and deposit slip in hand. I think this was Thursday. Last Saturday I'm finally in Cloudcroft, so I get the check deposited with my original NM bank. I pay a bill or two, and my debit card now has money behind it.
Back up slightly to the evening of the B of A encounter. I sit down with the phone book and contact every bank that has a web site. I look over their web site about their bill pay and downloads. Many I email directly, others have comment/response forms on their site. I ask them the two questions about electronic bill pay and Quicken downloads. All in all, I contact eight or nine banks. The second-to-last bank that I pull up looks like they meet my requirements, they're the only one that clearly states on their site that I can do what I want for free. And they're literally across the street from City Hall, in whose basement I dwell for 45 hours a week (including lunches, going in a little early and staying a little late).
How many responses did I receive from these online queries? ONE.
So yesterday I walked across the street during my lunch and opened an account. With whom did I open the account? With the second-to-last one.
Now here's the best part -- they are giving away FREE TOASTERS WITH NEW ACCOUNTS! I'm actually going to get a free toaster, and I actually can use one! I would prefer a toaster oven, but I can't complain about the price, and the woman said it's a very good toaster, so worst possible case I buy a toaster oven and give the toaster to Goodwill and take an write-off on my taxes.
*sigh* I really hate banks. They're like insurance companies, a necessary evil.
(and I really hate waking up at 3:30 in the morning)
(and I really need to stop leading off sentences with So... I try, honest I do!)
