Time to close bank accounts?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Three weeks ago I thought I transferred funds, via the automated phone service. Although the transfer confirmed over the phone, it never did occur. There was no harm done because my statement arrived a few days later and, since the transfer did not show, I called customer service and they transferred the funds then.
Today I attempted to transfer some funds from savings to checking. Did this via the automated telephone system again. My bank (Norwest) did not recognize my Fed ID number (this is needed to access my accounts). I waited awhile and then tried again. Failure. I then tried a third time. Failure. The automated service stated that the ID No. did not exist. I have only had an account there for twelve years. I have been using this method of funds transfer for about 8 years with no problems.
I then called and spoke to customer service. They were able to find my accounts OK. I then closed my savings and rolled it into checking. I hadn't planned on doing this until Dec. but this event made me move up my timetable. Although this may very well be a fluke, I was not prepared to risk my savings and thus my operating funds to benefit a few dollars in interest. Next step, run the checking to my minimum planned balance.
Question: Is anyone else finding any odd happenings of this type?
-- enough is (email@example.com), October 20, 1999
And now what? Are you going to withdraw all in cash or buy gold or guns or what? What is the difference between having your money in savings and checking? It is still at risk of being lost on the computer. If one gets cash, what good will cash do if all the banks crash, I will not be accepting cash then. You want to eat, you pay me in silver or gold or something else of real value.
-- chicken farmer (chicken-farmer@ y2k.farm), October 20, 1999.
I have an account at Norwest, too. They seem to be having quite a few problems lately. I deposited a *substantial* amount of money for my sister and they "lost" the transaction. This was about 2 weeks ago. If I hadn't kept the receipt, she would still be trying to prove she deposited the money. I don't know how she would have paid her employees. This is the second time this has happened in about 3 months. Norwest was not nice about it. They "found" the money 2 days later.
Since Norwest just merged with Eastern Heights State Bank and is planning to merge with Wells Fargo in the coming months, it seems as if things may get worse. (I've been told by several people in California that Wells Fargo has a reputation for messing things up.) I don't blame you for taking some precautions. We may be switching banks. :^)
-- Scarlett (firstname.lastname@example.org), October 20, 1999.
Forgot one thing. My sister has had at least 2 transfers that did not go through in the last month. Maybe we should start charging Norwest $25.00 each time they make a mistake. :^)
You sound like "Granny" on the "Beverly Hillbillies". Go have some white lightening and mellow out.
-- Scarlett (email@example.com), October 20, 1999.
Mr. Chicken Farmer,
I have been actively preparing for 20 months. I have laid out a plan and have followed it. Most of my money is out of the bank, but since I need to conduct business, I tried to maintain the accounts, only in much smaller amounts. I have been consolidating and eliminating accounts since 9/98. I am down to 3 accounts now. Will be to 2 by 11/12/99 and will hold at that.
I would disagree with your presumption that FRNs will be as worthless as digital dollars. Commerce will continue to some degree no matter what. And there will be an exchange system, and, itshtf, the exchange system will begin with FRNs. Then coins will be popular until the sheeple learn/understand a system for G&S.
I am totally prepped for the rollover. But even with that, there are loose ends that everyone needs to wrap up as we get closer to 2k.
By the way chicken farmer, how many do you have and what kind? We have 10 barred rocks and 10 buff orphingtons. Just canned a bunch last Sat. The hens should start laying in Nov.
-- enough is (firstname.lastname@example.org), October 20, 1999.
-- Foghorn (deadChicken@2000.net), October 20, 1999.
Yes - past time to get your money out really - the Sheeple will be standing in line by December.
-- Dan G (email@example.com), October 20, 1999.
Your experience is similar to mine (involving my 10 year+ Visa Card account). Tried a telephone order from a company that would only ship to the address of the Visa Card holder.After placing an order for about $100., I received a letter several days later from the company.They claimed my address differed from the one on my Credit Card account. So, I called them to straighten it out--figured probably a clerical error. They resubmitted my Visa # to a verification system while I waited. After several attempts, they restated they couldn't mail my order until I gave them the address on my Visa account. They did not care that I had the account for 10 years, or that account only ever had one address(I had not moved.)
So, I called my Credit Union. Explained the problem. They politely informed me that indeed I did live where I said I did, and that my Visa address did in fact match. Asked for phone # for company to verify my address . Call company, end of problem.
Now, that little event involved original phone order, letter from company,a second phone call to company, call to Credit Union, and a third phone call to company to give them Credit Union phone #.
It shouldn't take much imagination to see the potentials for lost business, angry customers, and lots of phone calls to straighten out such otherwise trivial problems. Glad this was an order for a non-essential. Glad it involved my address and not a mess-up about my Card balance or credit limit. The point is that there are seemingly innocent errors that can and do cause problems.
Hope this answers your request for "experiences".
Regards, (He Who) Rolls with Punches
-- Rolls with Punches (JoeZi@aol.com), October 20, 1999.
Very minor - but it's never happened before. Went to my bank's drive-thru (NationsBank) last Friday. Teller told me their computers were down and there would be a wait - 20 minutes from when I got to the "window". Not bad, but...
-- dakota (firstname.lastname@example.org), October 20, 1999.
How's this for banking stupidity?
My boss has his accounts at the largest bank in town (a very large bank). He recently received his password from the bank to use for online banking. Guess what they are using for passwords? The customers' social security numbers. What does the state of South Dakota use as driver's license numbers? The drivers social security number. What do busineses ask for when you write a check? Your drivers license number (you can get a different number for your license if you make a fuss but few bother to do this). If you do get a different number on your license many businesses will still ask for your SSN. Because of this many people (and I see a lot of checks every day) actually have their SSN printed on their check banks.
Imagine the possiblities-- the name of the bank is on the check blank along with the customers name, account number, and password.
When my boss pointed this out to a teller the last time he was at the bank, she just smiled and said, "oh, we can give people new numbers if they ask, but most don't have a problem with it".
My boss does not do any banking online.
-- Sam Mcgee (email@example.com), October 20, 1999.
An human resources employee where I use to work was selling SS numbers to illegal aliens making big $$$$. It took a while to catch up with her, but it was too late, the damage was already done. Employees started getting bad credit reports, etc. Who would of ever thunk that some one employed by your employer would do such a thing? It was a nightmare for many.
-- nossh*t (nossh*t@nossh*t.xcom), October 20, 1999.