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WAB, A Bank That Kills Business Plans, Rejects $13,000k+ Legal Wire Transaction....

Discussion in 'Legal Issues' started by dscurlock, Feb 6, 2018.

  1. #1
    For Immediate Release:

    What am I too my bank...?
    apparently, I am nothing...

    At first, I contacted my bank in order to do a legal international transaction
    with a seller that used an escrow service in a foreigh country. The bank refused
    to send the wire, and made it sound as if they did not want to get involved in
    an international transaction which was understandable....

    I informed the seller, at this time, I actually found out the seller is actually
    from the US, and he used the foreign escrow as they were helpful to his business model...
    the seller informed me to use Escrow.com and I informed the bank to do the wire.
    my bank refused to send legal funds, to a legal escrow for a legal business transaction...

    The bank made it personal...
    I am making it pubic...

    Bank Rejects $13k+ legal wire transaction....

    Read The Story....

    ==========

    to whom it may concern,

    I have made every reasonble effort to fund this transaction.
    I just purchased a $500 domain, is the bank going to block that legal transaction also?

    I have a $5,000 daily spending limit on my business account.
    are you going to block that also if I fund this in multiple payments...?

    (by doing so, you are sending a signal that implies that I can not
    use a legal business account to conduct legal business on a legal transaction...)

    I can understand why the bank would not go with international transaction...
    however, this is no longer about an international transaction, escrow.com
    is one of the biggest, if not the biggest digital escrow company in the US....

    I would have no problem signing a wire wavier, not only that, I would
    have no probem signing a debit waiver if I had to do 3 credit card
    transactions. This is not about risk to the bank, this is about something else....
    ironic, banks were founded on nothing more then risk....
    SEMrush
    you have no issues collecting money, but when your customer wants
    to send "their" money, then all of a sudden, it is a problem for you...

    I would have prefered to keep all this private...
    but I am not like you. I feel like I am getting screwed over
    by the bank out of some petty form of personal fear as I
    offered to resolve the bank from any responsibility or chargeback.

    Because of the bank...
    I may have lost the seller...

    so all of this is over right...?
    It is no longer about the seller....
    it is about to become public...

    Have A Great Day....
    cc: corporate

    ==========

    I am about to setup a US Trademark...
    Is my bank going to block this transaction also...?

    I am a US citizen, and have been with this bank for
    well over one year, maybe 1.5+ years, and my bank is
    preventing me from conducting legal business in the united states.

    Is this bank preventing me from setting up my
    US Based Business? This transaction is a big
    asset in order to setup this business....

    Is there some type of legal arument they can provide
    for interfering in a legal US bank-wire transaction?
    other then, we just do not want to do it?

    I hate corporate bullies telling me what I can
    or can not do with my money, and that is what they
    are doing by refusing to complete a legal transaction....
    WAB, a bank that kills business plans, and stuns growth...

    For Immediate Release:
    ABC3340, and whoever else
    gets this in the land of the free where banks
    do not stop people from conducting legal business transactions.
    (Isnt Free Press Great?)

    WAIT!!!! This is just one contact; I have over 100+ news
    media/journalist contacts. I can do this all day....

    What if ABC3340 wanted to send a "wire" for a legit business
    transaction, and your bank refused, how would ABC3340 respond?

    Response from seller:

    Seller Statement: "This is absurd & ridiculous, and I have never heard of this
    behavior from US Banks that conduct millions of dollars worth of wire-transfers
    within the United States, furthermore, here is a statement from escrow.com which
    states they have conducted over $3 Billion in transactions. I can not comprehend
    why any US Bank would not send this legitimate wire transaction to a legitimate
    escrow service that is located in the US..."

    Have A Great Day!!!

    Is there anyone out there that will send a legal wire so I can
    wrap up this "legal" business transaction? Please.....

    This is news worthy...
    anyone have contact for CNN?
     
    Last edited: Feb 9, 2018
    dscurlock, Feb 6, 2018 IP
    SEMrush
  2. pmf123

    pmf123 Notable Member

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    #2
    So you have an account in the destination country?
     
    pmf123, Feb 7, 2018 IP
  3. dscurlock

    dscurlock Prominent Member

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    #3
    It is a US wire to US Escrow.com

    Because of the amount...
    small time bank declined to send wire....
     
    dscurlock, Feb 7, 2018 IP
  4. robert4u

    robert4u Greenhorn

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    #4
    I agree, never heard about the bank, if the op is have transactions like 13,000 USD and the bank is rejecting, close the account and open some new account at big bank.
     
    robert4u, Feb 7, 2018 IP
  5. dscurlock

    dscurlock Prominent Member

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    #5
    Already tried, new bank will not do wire because it is a new account. I also explained this to escrow.com and said I would like to mail in a certified check or something, again, I was rejected, and told no, and escrow.com does not seem to care either, and why should a 3 billion dollar company care if others are not having this issues from a small town bank that is simply scared of sending a legal wire transaction, and if they are not going to send the wire, then they should discontinue the wire service. The contact between the buyer, and seller has an expiration, so if I can not complete the transaction, then it will cancel, as neither the bank, or escrow.com is willing to work with me to complete this transaction.

    You never heard of the bank because it is a small town bank, and if they continue to conduct this attitude, then it will never be any bigger then what it is, as this implies they are not willing to grow with the needs of their customers; If all you need is bread, and milk, then this is the bank will meet your requirements. When I signed up, they bragged about the millions of dollars in assets they have, and when I need the bank the most, they dump me like a 3rd world citizen. They are who they are, and they will always be just that.

    By the time it takes for me to get established with a big bank, then this contract will have long ended, and even then, there is no guarantee that a bigger bank will do this transaction; not all banks are familer with escrow.com, and this is something they can not comprehend, as these type of banks live on the outside of the world, and people like us live on the internet, which is familer to us, and with the amount of wire fraud that has gone on, then I can imagine banks are very cautious, however, if I was an area business or the CEO of the bank, then I bet I would have had no issues sending the wire. Banks can pick and choose if that is what they want to do or not. If this wire was going to close on property, then I feel they would have sent the wire to the attorney, but this is not the case, the wire is simply going to escrow.com between the buyer & seller, and this made the bank scared enough not to send the wire. It is nothing more then fear on part of the bank, they simply did not understand the transaction, and did not communicate with me, or even ask questions. One women did ask me something, and what I got was a blank look on her face as if she did not know what I am talking about, of course you dont, you do not live in our world....

    I suspect the media is not going to care either; Criminals and prostitutes can get more publicity on the news, then someone wanting to start a business in Alabama, getting shut down because the bank refuses to send a legitimate wire transfer, however, if I was a criminal or prostitute, I bet I could make the 5 o' clock news....

    I would even be willing to sit down with a banker, and I would even login to escrow.com and show them exactly what I am buying, however, how can you have a conversation with a bank that has no interest in talking to me. I have been a member of the bank since 2016; The bank certainly wants us to trust them with our money, but they dont trust customers that want to send a sizable transaction, not to mention, that i offered to resolve the bank of any wire transaction claims, and the bank still refused.

    If banks have concerns with international transactions, then I could understand their concern of sending a wire transaction, as they would have no legal recourse once the money is outside of the US, however, this is not the case anymore as the buyer/seller agreed to use Escrow.com which means the wire transfer is FDIC, which means the wire is guaranteed by the United States of America, and my theory is that they refused to do the transaction because they do not understand this type of transaction compared to sending a wire to some attorney for closing...

    The same section gives the FDIC the authority to terminate the insured status of aninsured bank operating in an unsafe or unsound condition. ... Your final question concerns the extent to which FDIC insurance applies to wire transfers of funds handled by FDIC-insured banks.Apr 20, 2014
    Laws & Regulations - FDIC Law, Regulations, Related Acts - Advisory ...
    https://www.fdic.gov/regulations/laws/rules/4000-1940.html

    In this case, there is no cause of "unsafe" or "unsound" condition. Escrow.com uses security that might even be higher standards of any bank, so fear of a transaction they did not understand is the only explanation why the bank did not want to complete this wire transaction, and no legal reasons that I can think of, so in the mind of the bank, if I wanted to send a wire of $50,000 to some attorney to close on a property deal, then the bank would think this is absolutely safe (from their point of view...)

    You can not have a safer transaction then Escrow.com
    I have used them once or twice on smaller purchases....
     
    Last edited: Feb 7, 2018
    dscurlock, Feb 7, 2018 IP
  6. pmf123

    pmf123 Notable Member

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    #6
    Pay with a credit card and then pay the credit card bill
     
    pmf123, Feb 8, 2018 IP
  7. dscurlock

    dscurlock Prominent Member

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    #7
    I have already thought about everything you can think up. This binding contract does not include partial payments...Escrow.com is expecting a full payment. There is a different
    contract we can do that would allow partial payments, however, escrow.com still said the first payment would have to be made by wire. and I also brought this up with the bank about using my credit card, and they rejected that idea as the transaction was to large, and West Alabama Bank said it clearly, it maybe your money, but it is our card, not only that, the seller also wants all the money upfront, and I guess i do not blame him either, and if I did make partial payments, and the bank flags those payments, then that would start all over again, and i could lose any payments that were made. I think all parties involved are unreasonable in their own rights. The bank has their rules, Escrow.com has their rules, and the seller has his rules, and nothing is coming together so this transaction can get done, without cooperation, my hands are simply tied.

    I cant blame escrow.com or the seller.
    However, I can blame the bank for not trusting their customers.
    This is a horrible bank, as they do not understand the internet age...
    Talk about being out of touch with the rest of the world, isolated...

    All I wanted to do is start a business,
    and my bank told me no...

    Want to help?
    send an email too:
    and ask them to help me out on this....
    also email:
    (include link to this thread...)
     
    Last edited: Feb 8, 2018
    dscurlock, Feb 8, 2018 IP
  8. pmf123

    pmf123 Notable Member

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    #8
    Go to bank, withdraw cash, go to Western Union
     
    pmf123, Feb 8, 2018 IP
  9. dscurlock

    dscurlock Prominent Member

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    #9
    Escrow.com does not accept manual payments.
    Escrow.com does not accept western union.
    Escrow.com does not accept cashiers check.
     
    dscurlock, Feb 8, 2018 IP
  10. dscurlock

    dscurlock Prominent Member

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    #10
    update:

    Bank informed me that they no longer wanted my business,
    and sent a letter to close of my accounts with them....

    wire transaction was completed by another bank,
    and the domain has been successfully acquired...
    (and that is all I wanted...)
     
    dscurlock, Feb 10, 2018 IP