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US Bank Account problems


geeser

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I received an email from Bank America saying they had stopped access to my savings account. I phoned them this morning and played their voice mail roulette. After finally getting to a service person and giving my SSN , she informed me that the call was being recorded. I informed her that I too was recording the call for verification and training purposes. She said that she couldn't help me as recording a customer service call was not allowed. I said fine just send me a copy of your recording and she refused. She did ask why I would need a recording and I asked her the same question. We finally proceeded with her recording the conversation. I  asked if using my money practically for free wasn't enough they wanted to be sure that I didn't have access to the account as well. The whole issue was though I had written in my profile that my citizenship was US. She had to get verification that it was and was Not dual citizenship. This would be a funny routine for SNL. 

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There is no good reason for them to record without permission and a customer should be able to say no.  Otherwise, you are agreeing under duress.  These institutions have gotten used to getting their way and I believe this has happened because people are so easily compliant.  When you really look at all these types of things such as insisting on a home address, etc., there is no reason for them to have it.  This whole business of using money laundering is just an excuse to collect data they should not have.  People are over a barrel with these demands.

It is ludicrous that they are not okay with you recording them, just as in some states the police don't want to be recorded or filmed as it makes them accountable for their actions.

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2 hours ago, Yo1 said:

Unfortunately, there are federal regulations about home addresses in the US.  Nothing to be done about it except move your money to Mexico.

You can open an account with a credit union; their regs do not seem to be as strict as the banks. 

I went to the trouble to open an account with State Department Federal Credit Union as they were being touted by an expat organization as not having issues with expats with no US address.  A few months later I happened to be on the phone with the credit union from my work days, where I still had an account.  I asked them what their policy is towards members who don't have a US address.  No problem, they said.  I checked back later with a supervisor to be certain, and was told the same thing.  It appears having a foreign addresses (or a Laredo mailing address) with US credit unions is not an issue.

 

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2 hours ago, Zeb said:

There is no good reason for them to record without permission and a customer should be able to say no.  Otherwise, you are agreeing under duress.  These institutions have gotten used to getting their way and I believe this has happened because people are so easily compliant.  When you really look at all these types of things such as insisting on a home address, etc., there is no reason for them to have it.  This whole business of using money laundering is just an excuse to collect data they should not have.  People are over a barrel with these demands.

It is ludicrous that they are not okay with you recording them, just as in some states the police don't want to be recorded or filmed as it makes them accountable for their actions.

In my opinion it was not really necessary to tell them I was recording as they told me they were aware they were recording the conversation. They just don't need to know who else records, "they are aware"

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3 hours ago, Yo1 said:

Notice to all newbies:  don't tell your bank that you live in Mexico.  They will close your account if you do.  This is the reason to have a US address.

Not necessarily.  I have for years had a well known investment account which knows full well I live in Mexico and has never suggested they would close it.  I also have a savings and checking account which caters to overseas clients and uses my Mexican address.

For me, life is already complicated enough without trying to use a phony address. Besides, it was my decision to move here, so I wouldn't consider sticking my friends or relatives with the responsibility for handling my mail.  I do know there are companies that will sell you a phony address, but then you'd need to worry about getting caught.

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17 minutes ago, Yo1 said:

I didn't suggest a phony address.  I have an address in the US that I use of very good friends who live close to my old neighborhood.  They don't have to handle my mail since I'm paperless with all the institutions.

By a "phony address" I meant no offense.  However, you suggested that newbies use an address where they do not, in fact, live...such as the one you say you are using. 

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23 minutes ago, MtnMama said:

Credit Unions are an excellent idea. If you have a military connection, use USAA. Lots of their customers are overseas and they know how work with you. They are the best IMHO.

I'm delighted with State Dept...they issued a Visa card, too, with an unheard of (almost) low interest rate on unpaid balances.  I'm grateful to whoever mentioned it on here since we were in the wave of people dumped by Banamex USA for no reason several years ago and had to scramble to find a new financial institution.  They are perfectly happy with expats being expats all over the world.

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The dumping by Banamex I suspect was a combination of accommodating  low deposit customers and needing to comply with the new US banking  regulations.....

As for " your call is being recorded"  so what..... there are so many rogue customers out there ...he said she said, that cost " nomal" customers extra fee etc, trying to resolve issues 

Just find an institution that does not record  your call!!!good luck

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12 hours ago, lakeside7 said:

The dumping by Banamex I suspect was a combination of accommodating  low deposit customers and needing to comply with the new US banking  regulations.....

As for " your call is being recorded"  so what..... there are so many rogue customers out there ...he said she said, that cost " nomal" customers extra fee etc, trying to resolve issues 

Just find an institution that does not record  your call!!!good luck

Your "suspicions" were incorrect.

https://www.wsj.com/articles/citigroup-to-close-banamex-usa-1437585140

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25 minutes ago, lakeside7 said:

Strange....I think my comment reflected the banks business plan

It's a good thing to get the facts before making assumptions:

http://www.latimes.com/business/la-fi-citi-banamex-money-laundering-20150722-story.html

Of course, when those of us who had substantial deposits in that bank were dumped, those who hadn't been dumped (yet) assumed, as you did, that it was about getting rid of the unwanted accounts.  Then the next wave of "dumpees" came, and the next, until ALL were gone.  It had nothing to do with the amount of money we had in there or how we did business, as it turned out.  I suspect they went by alphabetical order.  Ours was early since the name begins with a "D". Our Visa card accounts went, too.  That was really awkward.

None of us were ever given an explanation: as in, the bank itself had been misbehaving.

Since those accounts had been established when we were still in the States and has U.S. addresses, and we had opened them in anticipation of being "linked" conveniently with Banamex in Mexico, this was very bad news, and we had a hard time finding a work-around, as some people here have when they don't "have" a U.S. address.

 I'm making this long explanation because you're not alone in those assumptions from a number of years ago. In short, (or long) I seriously doubt that Citibank anticipated the outcome of acquiring Banamex USA and ending up with a potfull of heavy fines...as a "business plan".😉

 

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