Need help-problem with bank

[gmpower]

I had a 5 year money market account with Eastwest bank. I decided I wanted to close the account early, so the branch manager told me to sign the papers on Jan 20th. He also quoted me the early withdrawl penalty and I said ok no big deal. I was under the impression the check would be mailed to me soon so I went on with my day.

Last Monday, I went to see the branch manager to ask why my check has not arrived in the mail yet, and he explained they will actually have a check sent to their branch and he will call me to pick it up so I said that would be fine. So Thursday comes along and no call so far so I go see the branch manager once again and ask where's my check. He says since the bank is based in China and it was just Chinese New Years, they are really backed up and their coroporate offices were closed for a while due to the holidays but assured me my check would definitley be ready some time in February, probably in 2 weeks.

I really need this money fast because my reputation is on the line, I am supposed to use the money as part of the payment for a WE4 I am purchasing, and I do not want the seller to think I am a dead beat buyer.

1. How do I get the bank to quickly cut me a check for money that is rightfully mine?

2. Why is the bank playing these games with me? Their excuses sound really fishy to me.

 

[turbojimmy]

I had a 5 year money market account with Eastwest bank. I decided I wanted to close the account early, so the branch manager told me to sign the papers on Jan 20th. He also quoted me the early withdrawl penalty and I said ok no big deal. I was under the impression the check would be mailed to me soon so I went on with my day.

Last Monday, I went to see the branch manager to ask why my check has not arrived in the mail yet, and he explained they will actually have a check sent to their branch and he will call me to pick it up so I said that would be fine. So Thursday comes along and no call so far so I go see the branch manager once again and ask where's my check. He says since the bank is based in China and it was just Chinese New Years, they are really backed up and their coroporate offices were closed for a while due to the holidays but assured me my check would definitley be ready some time in February, probably in 2 weeks.

I really need this money fast because my reputation is on the line, I am supposed to use the money as part of the payment for a WE4 I am purchasing, and I do not want the seller to think I am a dead beat buyer.

1. How do I get the bank to quickly cut me a check for money that is rightfully mine?

2. Why is the bank playing these games with me? Their excuses sound really fishy to me.

They're playing games with you. There's no reason in this day and age that they can't hand you a check on the spot. Something's fishy.

I have no experience in this, but if it were me I'd start here:
Federal Reserve Consumer Help

Jim

 

[Chuck Leeper]

I agree.. Bull$hit going on. Those banks use fund transfers, etc, to move money around.
A check, issued by a chinese bank would be a real "fun time", getting cashed, here in the USA....
If you do get the check from china, I'd be sure that your "branch mgr" cashes it, B4 you leave.

 

[rtviper]

Don't close the account just have the bank give you a cashier's check for all but $5.00 of your balance,or a cashier check for the amount to buy the Buick.

 

[Pronto]

Note to self-don't do business with China banks.

 

[Little6pack]

Boy what a bank it can't make up its mind is it east or west? :biggrin:

Next time use the bank of Mattress

 

[Little6pack]

Note to self-don't do business with China banks.

Pronto why don't you float him the money like a loan shark.

You know you would make a good banker since your a investment banker.

 

[Pronto]

Your the one with the huge Pay Pal account with thousands flowing in and out!

 

[gmpower]

They're playing games with you. There's no reason in this day and age that they can't hand you a check on the spot. Something's fishy.

I have no experience in this, but if it were me I'd start here:
Federal Reserve Consumer Help

Jim

Thanks for the tip. I called and told them they have 48 hours to either cut me a check or give me in writing an exact date when they will issue the check before I report them to the above link... They responded in no time and I'm picking up the check tomorrow morning.

 

[turbojimmy]

Thanks for the tip. I called and told them they have 48 hours to either cut me a check or give me in writing an exact date when they will issue the check before I report them to the above link... They responded in no time and I'm picking up the check tomorrow morning.

Good news! I hope it's a valid check. That's one good thing about regulated industries - they fear the regulators. Same is true of power and phone compaines. They do NOT want to have someone report them to the local public utilities commission. Usually if you threaten them with that, they'll get you fixed up in a hurry.

Jim