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Aristotle
Nitroglycerin


Joined: 05 Dec 2007
Posts: 594
Location: On a sand dune, sipping a cold soda

US Bancorp - Playing Games With Outgoing Wires
PostPosted: Mon Mar 03, 2008 10:26 pm Reply with quoteBack to top

Until February 16th, US Bancorp was not listed on Implode O Meter as a bank with any problems or write downs. The details of the bank's situation described in Implode O Meter were nowhere near as bad the other "top ten" banks in the US.

However, something funny is going on at the bank. Want to send out a significant wire transfer? No problem, until the year end statistics came out two weeks ago.

Now the bank is sitting on wire transfer requests, taking up to 5 days to send them. Operating officers are refusing to return customer service representatives' phone calls, emails and pages. Fewer outgoing wires = less disintermediation.

I have a rule which I've followed since the savings and loan failures of the 1980's. If your bank jerks you around when you want to send out a wire transfer, get the h*ll out of that bank!

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Aristotle

As Yogi Berra said "It's like deja vu all over again."
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YOY
Demolition Man


Joined: 24 Mar 2008
Posts: 2310

Re: US Bancorp - Playing Games With Outgoing Wires
PostPosted: Tue Apr 01, 2008 8:01 pm Reply with quoteBack to top

Nothing new for this. 5 days seems a little long but when you are sending a wire overseas it can take several days to get there anyway. Im not defending, just stating what I have heard after working at different banks for about 10 years now!
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