BANK OF AMERICA WOULDN'T GIVE CUSTOMER HER FUNDS FOR MONTH AND A HALF
I have emailed you once before regarding falling stars or meteors that fall at a perpendicular angle and seem to slow down as they decend. Last night I listened to the guerrilla economist and you on the Hagmann and Hagmann radio broadcast. At the beginning in the first hour you mentioned that it might be a big hassle trying to withdraw large sums of money from banks. That statement hit me hard and man, it's really true! Here is my story.
Last summer I closed all of my Smith Barney accounts and received a check in the mail from them. I did this because I wanted to invest in silver and gold and begin some of the physical preparations like food, water, etc.
I deposited the check at Bank of America. I figured it might take a little bit of time for the check to clear, but in reality I had no idea what I was in store for. It took a month and a half for it to clear and gain access to my money.
The day after it cleared I went to the bank and tried to withdraw my money. The teller went to the back for a couple of minutes then returned and proceeded to tell me they did not have the funds to make the transaction. I was amazed! I always thought banks had tons of cash on hand.
I left and went to another Bank of America where I was confronted by the bank manager who told me that to withdraw that sum of cash I would need to make an appointment a week in advance.
At this point I became upset and got mad at the manager and could not believe I had no control over my own money. I left and went to the next Bank of America where I finally made some progress. The teller told me that as long as my withdrawal was under $5000 I could recieve my money.
So I made a withdrawal of $5000 and visited many other Bank of Americas that day making withdrawals of the same amount till I received all of my money.
I never realized it would be such a hassle to get my hands on what I thought was rightfully mine. I spent almost 8 hours that day going to more than a handful of banks to get my money.
I live in the Dallas/Ft. Worth area which ends up being a good thing because there are countless Bank of Americas which allowed me to make my withdrawals, but it was amazing to me that a bank in this area would not have that kind of cash on hand.
I can tell you that it was more than $10k and less than $100k. To me it's my life line and I think it's a ton of money, but I know it's nothing compared to what some have. This feeling made me wonder about the people who have millions and how difficult it would be for them to gain access to their money. It would be next to impossible. I always assumed banks had millions in their vaults and that my money is my money, but I assumed wrong. Thank God I was able to get to it and begin the necessary preparations I planned on doing.
Thank You and God Bless You,
Jun 4, 2013