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Hey Everyone,
Once again, I write to you to complain about my bank. I would've written to my bank, but for some reason, I just don't think it'll help.
The fact is I have been trying to process an international wire transfer with them for nearly a month, and the funds I want to send are still sitting in my account.
The first place I tried was the bank's native app, which allowed me to insert all the details of the transfer and then gave me a big checkmark stating that my request was received.
After a week or so, I noticed that nothing actually happened, so I called them and they said, "oh no, that option doesn't work, you'll need to submit a form." "Ok, which form?" I asked.
"Send me an email, and I'll send you the form" was the bank employee's reply. After filling out the form, I noticed there was a fax number at the bottom. Did she really expect me to send a fax? No, I sent it as a reply to the email.
The reply I got was automated message stating that my teller was on vacation, and that I should follow up with "the team," except there were no contact details included for the team.
So I waited until the next day to send another email, to which the reply was "no, I haven't received it, when did you send it?"
"Yesterday" was my answer. Hopefully, they would be able to locate it. Unfortunately, there was no response again from that teller. Ever again.
I did, however, get an email late last week, stating that the form was missing our company signature stamp.
There were no instructions about having to stamp it until now, and I don't have my stamp with me here in California. Also, why does a simple wire transfer require a company stamp? As a result, they said they would proceed without it. Spoiler alert, they didn't.
After another three unfruitful phone calls, I contacted them yesterday, asking to speak with the branch manager.
Unfortunately, the branch manager wasn't available, but I've been assured that they'll call me back ASAP. I'm not holding my breath. |
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555 Obviously, I've chosen the wrong bank to do business with. My account at Morgan Stanley has always been on point, and other than a few transfers where they weren't able to find the recipient for one reason or another, the staff has been extremely attentive to my needs.
Conversely, I'm sure there are many people out there with similar nightmarish stories about crypto companies who have dropped the ball, so I'm not here to draw any comparisons.
Only that as soon as the recipient of this transfer said they were ok to receive ether, the money was with her in moments. Yeah, I paid a gas fee of $118, but I was just so relieved that the money finally went through that I didn't mind much.
Now, as a person who conducts a lot of international business, I'm left to wonder if I'll ever be able to rely on transferring money out of this account, and if a bank can't handle a simple transfer, what is their reason for existing?
All these questions. Anyways, thanks for reading. Have a great day.
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Mati Greenspan Analysis, Advisory, Money Management |
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