My bank is getting me down on the whole money thing.

My bank is getting me down on the whole money thing.

The bank keeps sending mortgage funds, over and over. When the excess funds were returned to the bank along with a request to stop sending mortgage funds, not one, but two bankers called back asking for instructions on into which account they should drop the further funds (further – wtf!). To quote the real estate clerk, “In twenty-five years, I have never seen a mortgage screwed up this badly.” At the rate the bank is shovelling money at me, I’ll be a millionaire by the end of the week, my client will wonder by he is being cleaned out by the bank for his interest payments, and the clerk will probably fly down to the bank’s mortgage office and go postal.

Meanwhile, for four months the bank has been diping into my trust funds that I hold for clients (a huge no-no that would end my career quite quickly if left unattended), and my banker has been unable to get its system to stop doing this, leading to a manual correction every month. I like speaking with my banker, but it would be nice to have something other than a “Groundhog Day” type of conversation.

The bank electronically lost my credit card account for a couple of months when moving some of my accounts from one region to another – the first day of it going AWOL being the day my E&O payment was to be made from it. The automatic payments kept on going through, and the card continue to work both on in-person and on-line transactions, but the bank was unable to produce statements or find it in its system. Then it magically re-appeared, as if it had never gone walk-about. No one at the bank is able to explain it.

My phone payments to my business phone lines have been dumped into my home phone lines account,with the bank blaming the phone company, and the phone company blaming the bank. I only discovered this this afternoon, when the phone company called up to threaten disconnection of my business lines, despite my bank statements indicating regular full payments. The good part is that I won’t be paying any home phone bills until some time in 2008.

The bank was unable to arrange for the printer to print my correct address on the cheque orders for a couple of accounts I opened up a few months ago, despite three attempts.

Trying to keep on top of all this nonsense is putting a dint in my billables. If I wanted to be a bean counter, I would have become a bean counter, but I do not like bean counting, so I did not become a bean counter. Yet here I sit, counting beans, trying to get the bank errors fixed.

The sad thing is that this is the bank in town that screws up the least (trust me on this one – I have seen some loopy errors in my clients’ matters by other banks that make my problems look trivial), my banker is the best problem solver that I have come across in the various banks about town, and being in her book leads to a lot of business for me from her other customers, so I willl not be jumping ship anytime soon, despite the problems of the last few months

At the moment, however, I’m quite disgusted with the entire money thing, and the necessity of using a bank. If it were summer, I could simply hop in my canoe, take of my clothes, and paddle out to the islands, but it’s about twenty below at the moment, so even that is out. I think I’ll go find a stick in the woods, and poke my banker with it at our next meeting.

Poke, poke, poke – take that Madam Banker. I like ya, but nonetheless, poke, poke, poke.

:eek: :eek: :eek: :eek: :eek: :eek:

You know, something tells me that your town is ripe for a new bank or two.

So why don’t you switch banks?

Lesser of evils. BTW, I use more than one bank. My primary bank (the one I am bitching about here) is the least worst.

We don’t have that many full service banks here in Canada – only a handful of majors, of which several have had significant personnel changes in my town in the last couple of years, leading to no end of disasters. Money in a sock is looking pretty good at the moment.

That sounds pretty dangerous for you. If they can’t promise you that will stop maybe you should move those specific accounts to another bank, out of reach.

Perhaps the alternative doesn’t look very promising, but if you stop doing business with Bank #1 they can’t screw up your finances anymore, and you can start over with Bank #2.

If Bank #2 screws up, repeat step #1. Ad infinitum. Sure, you’ll be going back to banks with your business, but you’ll be at Step #1 each time instead of trying to resolve something that’s already dorked up beyond recognition.

Folks, you are quite right about the need to move to a better bank, but the problem is the others in town are worse – quite a bit worse. At the others, sometimes I wonder just what the managers did to be exiled up here.

At least at this one there are some bright people doing their best. The extremely messed up mortgage is a new low, but at least it is shovelling money at me (which I then shovel back), were as usually when mortgages bugger up, the money wanders off into the vapour, or the terms to be registered are screwed up – and that isn’t even including the bank in town where the mortgage manager, a realtor, and a lawyer started putting mortgages on unsuspecting people’s homes and pocketing the money.

Needless to say, my banker is dealing with the trust dipping on each and every month, including a written explanation to document the error. As far as she can tell, it is an automatic withdrawal to the bank that is repeating itself when there should never be any withdrawal by the bank, so they are having a programmer look at it.

We’re not at the point yet where I would jump ship, but the possibily has been raised with my banker. Since I bring people into her book, she wants to keep me as a client just as much as I would prefer to keep her as my banker. I’m hoping that she can get these loose ends tied up. That’s why I’ll be poking her with a stick (e.g. firmly insisting that the matters be resolved forthwith) at our next meeting.

I think that when it comes to banking, I live in a backwater (northwestern Ontario).

Have you contacted the higher-ups?

My bank once thought they should deny me a credit card way back when I was getting my first one. I fired off a letter to the Regional Manager (or I might even have written to the Chairman of the Board) mentioning that I had had an account since I was a child and had never bounced a cheque (this was at the end of university) and that I’d take my patronage elsewhere if they didn’t get me a card. I had one within the week. I’ve had nothing but great service from them. I can’t say the same for the biggest bank in the land.

My banker is as high up in this region of the province as it gets, and she is aware that I have a long time connection to a retired chairman of the board. We also have a lot of friends in common and both of us are heavily involved in fundraising for the same charity, so there is a fair bit of personal connection that will motivate her. No need to press the higher authority button, for it is not a matter of the people in the bank not responding – they are honestly doing their best. I think the key is to work through the problems with them, rather than to smack them down, but at the same time be firm in presenting my expectations.

For example, the mortgage money that keeps flooding in is a result of too many people at the bank, both here and in Toronto, trying to make sure that the money is forwarded. A+ for effort – it’s just that they are frantically racing off in the all the wrong directions. I’m hopeful that my my banker can ride herd on them. I think she has the skill set (smarts, experience, interpersonal skills, and out and out corporate authority), but we’ll see what happens in the next few days.

After speaking with my banker again late this afternoon, I scheduled an out-of-town business trip for Wednesday and Thursday so that I can clear my frustrations by driving along the ever so beautiful north shore of Superior. That will give my banker a few days to gain control the mess, so that hopefully my banking will be back to normal when I return and meet with her on Friday. To save the clerk’s sanity, I’ve directed the clerk to refer all calls from the bank to my banker, and to not act on any further mortgage instructions from the bank concerning the screwed up mortgage – essentially a cooling off period to give the banker a chance at starting to work things out. Hopefully, that way when I return on Friday and firmly insist on the various matters being fixed forthwith, the banker will have enough of a handle on the problems that she can show good progress and make reasonable assurances based on specific courses of action.

I’m hoping that in the future we will be able to look back at this and laugh about it, but for the moment, I’m annoyed, so I need to cool off for a few days lest I say something untoward.

And the banks here wonder why so many people are opposed to allowing any further bank mergers. :rolleyes:

They are doing the best they can.

That is the most vicious insult I ever heard. You should tell that to the bank.


I agree. That really is quite a condemnation right there.

Are your transactions so diverse and frequent (other than this particular mess-up) that you can’t have them close this down and open a brandy-new account for you that doesn’t have all this crap? Or am I missing something?

My personal accounting is very simple, so I could easily close one account, open another, and contact any companies/accounts that access it with the new numbers.

Everything Muffin has said about the Canadian banking system is true; however, he neglected to mention that you get perks for staying with banks that you don’t get as a new customer, so hopping from bank to bank in spite of their incompetence is disouraged. And the banks are pretty much all the same; they’re more in collusion than the gas companies. Allegedly.