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What is it with Financial Institutions!???

June 2nd, 2010 at 05:09 pm

3 weeks ago, I met a financial goal and put 1000 dollars in my IRA. Its still not there. The bank in town where I do business is really working on this, and I told them I expect in all ways to receive interest for the full 3 weeks, but right now I'd just like to see the money in my account.

They tell me they are having a problem with my check, which is from old bank they purchased. I still am using old checks (why pay for new ones?). Well - apparently they took the money but just still haven't figured out how to put it in the IRA account.

I'm getting extremely distrustful of financial institutions. Man oh Man - keep all receipts and verify everything.

3 Responses to “What is it with Financial Institutions!???”

  1. HouseHopeful Says:

    I hate to say it, but the problem just sounds bureaucratic. One system just isn't recognizing the other. Yes, you should fully expect all the interest. This is their internal problem, not yours!

  2. ceejay74 Says:

    Man, you have the worst luck with red tape and bureaucratic incompetence! I have some doozies in my life too, but since mine are concerning much smaller sums of money, I try not to let them get to me. The problems you've had would drive me into a rage!! Ugh, I hope they fix it soon--and they should pay you interest for taking your money away from you like this.

  3. -Jerry- Says:

    I am losing my trust of most financial institutions, as well... it leads me to wonder about them in general. The best one I know of also does our insurance, USAA, and they have been above reproach in all of their dealings with us. I recommend them highly, and we will be closing our Bank of America account when we get back to the States.
    Jerry

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