Banks expect Capital One to become insolvent - 9 business day hold on checks
Had to go to Kingman today to pick up building materials and finally got the long awaited Capital One check.
I previously posted how I had requested one of their promo checks on 1/10, Cap One never sent the check and hadn’t even bothered to notify me. So they assured me that this time they actually send the check. The $7,400 check had already posted to my credit card.
First I took the check to Compass Bank, where I was told that they don’t normally accept credit card checks and they’d put a hold on it. The fact that this was NOT a check written by me, but an official Capital One Bank check made no difference.
I took the check back and went to Downey Savings. They’re usually pretty good about clearing my checks, but not today.
I ended up with a teller in TRAINING and Lisa Hilderbrand, customer service supervisor, was doing the training.
She informed me that there would be a 9 business day hold because it’s a credit card check. We discussed the difference between a credit card check that *** I *** write and a check that a BANK sends to me, made out to me, printed, the whole nine yards. BEFORE lenders send out the checks, they post the amount to the account, whether a credit card, home equity loan, credit line, whatever. There is no way that it could bounce because I don’t have enough credit on my account.
But, that doesn’t matter to other banks.
The ONLY reasonable explanation is that they think that Capital One will soon be insolvent.
So it actually is taking well over a month to get the cash from a Capital One check, there’s a hold until 2/12/08.
But that’s not the end of my bad banking day.
I had filled out the deposit slip with $800 cash back. Downey Savings customer service supervisor Lisa Hilderbrand filled out another deposit slip changing the amount of the cash back to $100, casually advising that she couldn’t use the slip I had prepared.
I was stunned.
WHY can’t I get $800 cash?
The bitch started lecturing me again about their hold policy and that only $100 were available immediately. I asked why they were freezing my entire account. It turned out that she hadn’t even looked at my account! I had several thousand dollars available and I finally got her to give me my cash.
Also, the deposit and getting the cash back took over 15 minutes from the time the teller started helping me.
After I had watched Ms. Hilderbrand explain to the teller how to process a deposit for 5 minutes, I advised that I was in a hurry. She replied that she was working as fast as she could and she continued to train the teller and took another 10 minutes until she finally gave me the cash.
That bitch needs to be fired.
It’s been a while since I’ve been treated with that much disrespect. It was almost like going to court! Might have had to do with the fact that I didn’t look like a million bucks, as I was wearing the jeans and jacket I wore to hang sheet rock and drill holes for electric wires and pipes.
I suppose it’s good to experience occasionally how the working people are mistreated all the time.
And of course that’s a good reason to do business online where they can’t see your skin color and clothes and you’re spared the humiliation.
A couple of weeks ago the Downey branch was robbed and I sure hope the robber spent the cash before he got busted in Vegas. The banks deserve everything they’ve got coming.
And of course this is one more reason to STOP paying your unsecured debt if you’re judgment-proof.
Just about every time I go to a bank I hear people talk about NSF fees. At the justice court are lines of people begging for extensions to pay fines. And I doubt that Kingman Arizona is different from Anytown, USA.
Comment submitted at https://www.downeysavings.com/ad/contact/contactResponse?department=Banking
FYI, my posting about queen bitch customer service supervisor Lisa Hildebrand in the Kingman AZ branch:
I’ll appreciate your comments to add to my blog.
Sincerely,
Christine Baker
BTW, that’s how all the people who constantly email me complaints about their banks need to complain:
Grow up! Stop being cowards! State your name and THEIR names and post your complaint PUBLICLY. Whining at me will never make a difference.
Posted by Christine on 01/30/2008 at 08:43 PM
2004 Suit (credit limits, credit reporting - on appeal) • Capital One - ruthless banksters • (11) Comments • Permalink
Christine Baker,
I am writing in response to your blog referencing Downey Bank and their employees. I invest in that bank and I would like you to consider the “other side of this story”.
1. Everyone has to be trained in the individual bank’s rules and processes. I too have experienced a time when I got a clerk in training. I too was in a hurry, but the process of the training did not take an extra three minutes of my time. That seemed to me a good investment of my time, knowing that the new clerk would be able to follow the bank’s rules that ultimately protected my investment.
In 2005 a young man by the name of Shane Shieldmeyer stole my credit card checks from my mailbox. He cashed one of the checks for $4,000. at Bank of America. I doubt that the bank ever got their money back because Shane Shieldmeyer was caught and sent to prison for 4.5 years. The only people who suffered were the investors in Bank of America as the money had been spent.
In my opinion, those credit card checks should always be handled very carefully by our banks.
As for your nasty ranting and raving and calling the woman who tried yo help you vulgar names, I hope my bank will take you to court. You have your 1st admendmant right to free speech, but vulgar name calling that can’t be proven and most likely could be proven as a lie about the woman, could and should cost you a bundle. Most of the Downey Bank’s loyal customers have met Lisa and like her a lot. She’s kind to everyone when she is allowed to be. She has worked for that bank a long time and I would hope her employers know what kind of person writes a blog such as the one you wrote here, consider the source and ignore your demand for her termination.
If it were my bank… I would close your accounts immediately and suggest you do business elsewhere.
Note: the Compass Bank would not deal with you. Lisa tried.
Perhaps this note won’t be posted, but in all fairness to Downey Bank and to Lisa, it should be and I would expect Lisa needs your immediate public apology.
Patti Lewis
Patti, let me start by saying that I do NOT appreciate Downey employees or their friends PRETENDING to be customers who just happened to read my posting.
So I have 2 questions for you:
1) WHO told you about my posting?
2) Is Victim Condemned your book?
http://www.amazon.com/gp/product/141961889X/ref=cm_cr_pr_product_top
Once I got your answers, I have more to say.
And to update, I got a message from regional manager or whatever Valerie today. She was contacted by corporate and I think they sent her my submission at the Downey site.
After playing some more phone tag, I finally spoke with Valerie.
She did NOT know what the problem is, hadn’t even read the posting here!
I suggested that she READ it. Apparently Downey can’t afford internet service at the branch, so Valerie had to get corporate to get her a copy of the posting.
And that’s where YOU come in, Patti Lewis.
Obviously, NO satisfied Downey customer would happen to read my post within just a few hours. After all, most people have BETTER things to do than google for posts about their FAVORITE businesses.
I’ll have more to say once you answered my questions.
1. google - looking for consumer credit act of 2006
2. yes
It’s odd that you’d find my site looking for the “consumer credit act of 2006”, I don’t even know what it is and it has NOTHING to do with the above posting.
So I googled it myself to find that it’s BRITISH legislation and I couldn’t find a link to any of my sites on the first 5 pages of search results. You’re not a very convincing liar, Patti.
Regarding your book, it is of great interest to me as I’m fed up with the Kingman corruption myself and my focus is on justice of the peace John Taylor and the county attorney’s office.
Looking for reviews of your book, I found a posting claiming that you CHANGED THE NAMES of the allegedly corrupt official.
Is that true?
If so, there’s no reason for anyone to read your book.
With regards to Downey, I had a long talk with Valerie today. She had no idea why Ms. Hilderbrand continued to train after I advised her that I was in a hurry and OF COURSE the very first thing that SHOULD be done before putting holds on deposits is to check the customer’s account. And certainly she should have done so before refusing my $800 cash back request.
So, I’m very satisfied with the result of my public complaint. Yeah, of course they were shocked, but I got the desired result and that’s what counts.
I really don’t care whether Ms. Hildebrand is fired or not, but it’s important to know that the way I was treated is NOT Downey policy. I’m quite certain that in the future Ms. Hilderbrand will treat customers with a lot more respect, regardless of where she works.
And not only will Ms. Hilderbrand remember my posting for a long time, but OTHER people in retail positions might consider that THEY might be subject of a similar posting.
I don’t get my kicks out having people fired, I want POSITIVE changes.
I’m sure the teller who was trained to NOT look up the customer’s account will be re-trained.
Downey certainly COULD have closed my account and assured Ms. Hilderbrand that she acted appropriately, as you would have done.
Since they didn’t, I’m sure I’ll be a customer for years to come and I’ll continue to recommend Downey to my friends and neighbors. They’re one of the few banks and maybe the ONLY bank in Kingman not charging a fee when others cash my checks.
Patti, your entire first posting shows that you have no clue about banking and credit. You’ll have to find another bank to invest in, as Downey agreed with me.
You have no understanding of the issues:
“In my opinion, those credit card checks should always be handled very carefully by our banks.”
You don’t even understand the difference between a credit card check signed by a consumer and a check signed by a bank rep.
How often do bank checks bounce?
Valerie addressed that too. About 70% of credit card checks are returned unpaid and that’s why most banks don’t even accept them when presented by the consumers who signed them.
But since I had a check signed by Capital One, the question is whether Cap One is on a list of banks deemed to be high risk of insolvency.
Valerie said holds are based on routing numbers and it could be a 5 or 9 business day hold. She also said that it’s almost impossible to verify with banks whether a check has cleared yet, especially since 9/11 and due to privacy laws.
And that’s really interesting, since you can write a check at a store, drive to the bank to deposit the cash and already have had the check bounce and get hit with the NSF fee.
Why don’t the banks know when checks cleared?
But that wasn’t really my complaint about Downey, it is a warning to all the Capital One customers who are mislead by Capital One employees who claim that these checks are a faster way to get the cash.
“Most of the Downey Bank’s loyal customers have met Lisa and like her a lot.”
That really indicates that you have a close relationship with someone who WORKS at the Downey branch and has told you this or that you work(ed) there yourself.
A customer or investor would have no knowledge about who met Ms. Hilderbrand and who likes her.
As a matter of fact, I don’t know how anyone would know how many customers like Ms. Hilderbrand.
“Note: the Compass Bank would not deal with you.”
That’s even more interesting. Patti, do you have drug or alcohol problem?
I had written:
“First I took the check to Compass Bank, where I was told that they don’t normally accept credit card checks and they’d put a hold on it. The fact that this was NOT a check written by me, but an official Capital One Bank check made no difference.
I took the check back and went to Downey Savings.”
I didn’t wait to see how LONG a hold Compass Bank would have put on the check (they were very busy and the teller was new, had to run off to ask about EVERYTHING), but it’s never more than 9 business days. In fact, I COULD have talked to the manager at Compass, but I had no interest in getting the check cleared due to my many years of banking at Compass, I wanted to see what the banks’ general policies are for these Capital One checks.
Patti, with what I now KNOW about you, knowing that you make completely false statements, I don’t think that I’d want to read your book even if you had used the real names of the corrupt Kingman officials.
And for that matter, I suppose you know that you tend to make things up as you go and that’s why you chose to change the names.
Too bad.
Here’s a MUST read book about ID theft by Gerald Eller, a guy who’s NOT afraid to use real names of the people and lawyers who screwed him:
google “credit suits” - you can’t miss it. It’s the first entry on the row! I am a certified paralegal and was just doing my job.
As for my book… You probably wouldn’t understand it anyway as your bio implys you are a foreigner.
The locals know who the people are and I’m selling the book, so your opinion is just that—if you haven’t read it. Once you have lived here long enough, you’ll know who those people are. I just don’t think anyone gains anything by destroying others. I just happen to have a Superior Court order against those “monikers” that proves I am not a liar as you suggest.
Downey Bank employees are kind and helpful. Terry, Valerie, Judy and Lisa are all great employees of Downey Bank.
As for my banking experience.. I am an accountant.
You said “I don’t get my kicks out having people fired, I want POSITIVE changes”.
Didn’t your folks teach you that you get more bees with honey?
I hope you will read my book, monikers and all. You can laugh a little and lighten up your life.
Patti, you ought to be the dictionary definition for “caught lying” and why it just isn’t worth it. Why not just tell the truth?
Did I ask you for help finding my own website?
You’re hilarious.
And it’s just AMAZING how you crossed the line from being new in town and whining about being ignored by the cops and subjected to corruption to being part of the corrupt establishment:
“Once you have lived here long enough, you’ll know who those people are.”
I don’t live in Kingman and I will never know who those people are. I have ZERO desire to get involved in ANY small town politics, couldn’t possibly care less.
There’s nothing unusual about Kingman. There’s no developed place on the planet where the land owners and developers don’t try to bribe corrupt officials and the residents (especially newcomers) aren’t subjected to exploitation and abuse.
Maybe there’s MORE corruption in Mohave county and maybe the people (like you) are more tolerant and more likely to cover up corruption, but probably not. People are just people, afraid, whining, complaining, gutless, selfish, corrupt ...
“I just happen to have a Superior Court order against those “monikers” that proves I am not a liar as you suggest.”
Yeah right, we believe in Santa Claus too.
If you had just a little bit of guts you probably could have made a difference for Kingman. You could have encouraged others to speak out about injustice and corruption.
You COULD have ensured that the people who hurt you don’t hurt others.
You’re obviously lacking the desire to help others.
I will not be reading your book. Most of it is at http://books.google.com/books?id=VrTzK66hzNcC&pg=PA11&lpg=PA11&dq=patti+lewis+kingman&source=web&ots=xuSsSSGgEE&sig=5o4VrKUEyd2734n9CTtGPAO3UZI#PPA14,M1
You whine and whine and whine and whine and you have NO desire whatsoever to change how things are. I have to agree with one of the Amazon reviewers on that.
“I just don’t think anyone gains anything by destroying others.”
You are enjoying your victim status and you actively protect the guilty and I find that appalling.
I just finished reading A Thousand Splendid Suns this morning, now THAT is a book worth buying. It’s a novel, but really shows why people HAVE to destroy others if they want to put an end to suffering and a chance at the good life.
http://www.amazon.com/Thousand-Splendid-Suns-Khaled-Hosseini/dp/1594489505
Bad people don’t just wake up “good” one morning. If they’re not challenged, they will become more corrupt, powerful, cruel and violent.
Patti, you’ve done your part to ensure their continued ability to hurt people by covering up their identity. Well done!
How much are they paying you?
“Didn’t your folks teach you that you get more bees with honey? “
No. I plant flowers to attract bees. The people of Kingman sure are weird, you put out honey for the bees?
Bees have been disappearing and it’s a major problem and could threaten the food supply. But I don’t know what that has to do with making sure that bank customers are not mistreated and that corrupt people are held accountable for their actions.
In reference you wrote:
WHY can’t I get $800 cash?
The bitch started lecturing me again about their hold policy and that only $100 were available immediately. I asked why they were freezing my entire account. It turned out that she hadn’t even looked at my account! I had several thousand dollars available and I finally got her to give me my cash.
Also, the deposit and getting the cash back took over 15 minutes from the time the teller started helping me.
After I had watched Ms. Hilderbrand explain to the teller how to process a deposit for 5 minutes, I advised that I was in a hurry. She replied that she was working as fast as she could and she continued to train the teller and took another 10 minutes until she finally gave me the cash.
That bitch needs to be fired.
Now:
You seemed to have gotten your way. They destroyed Lisa’s life as it is today based on your complaint,and they demanded she close all of her accounts with their bank. Unsure of the safety of my funds, I asked for my CD’s in cash to be paid as soon as the CD’s mature. That notice gave them a few weeks to get the cash up. Wow, what a mess!
My first request for my money was answered by 2 employees saying bank policy will not allow the transaction. Then I was instructed to contact “corporate” which I had already done, but
I made a....
2nd request to:
Downey Savings and Loan Corporate Offices
As sent thru FAX 681-2555 per the instructions
of Valerie Miranda-Lay
“To Whom It May Concern in the Corporate Offices of Downey Savings:
This letter is to “confirm” a rude, telephone call I received from Valerie Miranda-Lay today, 02/27/08, in which she stated that I would not be permitted to collect the funds, in US Currency, that I have and the interest I have earned, in excess of $25,000 because it is bank “policy”.
In our conversation, I asked Valerie Miranda-Lay to write me a letter to that affect and please confirm our conversation, and she explained to me that she was not allowed to write a letter, as a matter of “policy” and that I must take my time to contact “Corporate” again with my request. I understand that in her training of your employees, Valerie Miranda-Lay teaches your employees that there are always shades of grey and one must think beyond the box.
Excuses were made to me that special CTR’s would have to be filed, should I receive cash. Welllllllll, that’s okay. Uncle Sam will know where the money went because I’ll tell him.
When I deposited my money in your bank, I did not receive anything saying I could not withdraw the full amount, on demand. You had no printouts or instructions that said you would withhold or deny me any amounts over $25,000 in cash. You certainly had no forms that would question my ability to handle my own money as I saw fit. To do such a thing would have been in violation of federal law.
Please be advised that I want your bank to think “outside the box” and deliver my funds to me, inside your bank, in US Currency, on March 10, 2008. I do not feel it is your bank’s privilege to make the decision to withhold my funds or offer alternative methods of payment that are obviously not acceptable to me, to “protect my security”. For all of these years I have followed your rules, now I expect you to follow mine. I have hired an armed, insured guard to stand at your front door and help me transport the funds I am requesting from your bank’s front door to the money’s next home.”
Sincerely,
Will I get my money or not?
1) “They destroyed Lisa’s life as it is today based on your complaint,and they demanded she close all of her accounts with their bank.”
Well, that’s pretty weird, considering that I stated to Valerie and PUBLICLY here that I was happy that they acknowledged my complaint and I considered the matter resolved—without anyone getting fired or having lives destroyed. What did they do?
And that Lisa has to close her accounts is even weirder. Although, how is THAT bad for her. There’s a bank at every corner. (still)
2) At first I thought maybe you’re a billionaire, but everything over $25k?
I really find this hard to believe, even though I recently read that a major bank (Citi?) was limiting withdrawals to just a few thousand per MONTH in some European country.
Everybody knows the banks aren’t doing great, but if what you claim is true, Downey must be about insolvent.
I’m not calling you a liar, it’s just really unbelievable, especially since you can’t get anything in writing.
And I just moved both our comments over here.
Nope. I’m not a liar. Never have been a liar. The letter I copied to you is exactly what I sent the second time.
The same Valerie you talked to sent the termination to Lisa’s branch and they referred only to your complaint.
I reviewed, with her permission, Lisa’s work history and progress reports for the seven years she worked there and they were spotless. No complaints from inside or out.
I figure… The bank is in financial straights and Lisa was one of their oldest and highest paid employees. They used you and your complaint to get rid of that expense.
Valerie is the one that won’t give me my cash in full. She says it is bank “policy”. What do you think the FDIC would say to that policy? They don’t have FDIC in Europe, but they sure have it here in the US. I have given the bank over two weeks to gather the money. Valerie is the one that says that bank “policy” won’t allow her to write me a letter confirming our conversation of this date.
I’m sorry for you that you trusted what Valerie told you, because your name is in all the termination stuff.
You wrote:"And that Lisa has to close her accounts is even weirder. Although, how is THAT bad for her. There’s a bank at every corner. (still)”
I guess the easiest answer to that question is automatic payments being drafted from her accounts. Have you ever tried to get those dumb things moved to a new bank? What a nightmare! And you are right. It is wierd. I’m thinkin’ maybe her friends in that bank are warning her to get out before it is too late??? That’s why I want my money in US Currency. I don’t want 1/4 of it in cash, I want it all in cash. I don’t want some other bank to put a hold on the Downey check and lose my interest for ten days. Does that make since? They certainy haven’t offered to pay me extra for any days I lose interest on my money.
“The same Valerie you talked to sent the termination to Lisa’s branch and they referred only to your complaint.
I reviewed, with her permission, Lisa’s work history and progress reports for the seven years she worked there and they were spotless. No complaints from inside or out.
I figure… The bank is in financial straights and Lisa was one of their oldest and highest paid employees. They used you and your complaint to get rid of that expense. “
That actually wouldn’t surprise me. I remember over 15 years ago I knew a woman who was an executive at a savings & loan in San Fran, they fired her for no good reason when she was close to retiring so they wouldn’t have to pay her pension. Was a long lawsuit.
Companies pull crap like that all the time, even when they do NOT have financial problems. That’s one reason why I haven’t been employed in many years.
Well, that’s certainly not the result I expected from my complaint, I’m almost sorry for Lisa now. Still don’t understand why she was so rude to me, but this entire thing just went way out of control.
Beyond bizarre. Haven’t been in the branch since and I have no desire to go back. Is everybody going to look at me wondering who I’ll get fired next?
And I would never allow automatic withdrawals from my bank account again, I’ve had way too many problems canceling those, even had to CLOSE my account to stop an insurance payment one time. But it’s also a hassle to have to change the accounts for online payments.
Regarding getting your money from Downey:
http://nestmannblog.sovereignsociety.com/2008/01/us-banks-impose.html
Also read that Citi severely limited the ability for any withdrawal in a Europe country.
There’ve always been notice requirements for cash withdrawals for my Compass account, but I never had enough $$$ to have to worry about that, so I don’t remember the terms.
I don’t know whether you follow the news, but if I had a lot of money, only a small part would be in banks. I wouldn’t worry about the interest lost due to the transfer, but about how much the dollar is going to drop and by how much gold will go up.
Was just looking at air fares to Europe, the sooner I book, the more I’ll save.
If I were you, I wouldn’t do much calling to Downey, it would be email or, well, you saw the impact my form submission with this URL had.
