Show Me The Money – Part 2

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So for those of you that read my previous blog of the same title you will know that on December 7th I closed down my Bank of America account as I no longer need a secured credit card and I could see no reason to leave my money tied up earning zero interest. 

I was told at the time that it could take 4 weeks. After 4 weeks I called back and was told it could actually take 4 to 6 weeks. Oh dear they forgot to tell me that the first time. The women then announced with what sounded like amusement that this was 4 to 6 working weeks and that holidays and weekends didn’t count.  So we now have a new equation to work thorough. By my reckoning that means that with holidays we are at day 42 today.

So I called the lovely friendly (anybody for sarcasm?) people at Bank of America to ask for my money back again . After listening to their menu because it has recently changed (hmm, isn’t that now the stock response of every large corporation that doesn’t really want to talk to you?) and being told that they are experiencing an unusually high volume of traffic (there’s another surprise) I finally got to speak to a human being.  Apparently they have just (and I paraphrase) done a huge check run! No kidding? You mean to tell me other people are leaving too? Wow, who would believe it? Anyway, I asked how long to see my check? 7 to 10 days was the reply. Are they kidding me? Why on earth would it take that long? I then asked what was happening to all the money that was being made in interest over the year, was it being paid back to the customers? ‘I have absolutely no idea sir’ came the response. I’m pretty sure she didn’t care either. 

Is any of this good business sense? Is there any good reason why they can get my wife’s money back to her in 2 weeks when she isn’t closing her account down but take over 8 weeks to return mine when they know I am moving elsewhere? Will I ever hear a good word about Bank of America again? Will my wife’s account remain with Bank of America once my money is in my own bank? Has anybody benefited from this transaction? 

You only need two letters to answer the above questions although be aware that is two working letters not including weekends and holidays.