silverbadger
Active Member
69 messages
joined May 2013
I really just need this thread to vent for a second because I’m feeling pretty frustrated......
My business is relatively small, but we have been operating for many years now, providing accounting and professional services that sustain both our business and our families.
Toward the end of last year, my primary business bank really dropped the ball on processing a wire transfer for a leasing payment. That transfer was supposed to clear on Friday, but the teller didn't process it until Monday, which ended up triggering late interest fees from the leasing company.
Then, at the start of this year, that exact same employee made the same mistake again—missing the Friday deadline and waiting until Monday to get it done.
Well, today things took an even more ridiculous turn; instead of pulling the funds from my account, she accidentally pulled them from another client's account entirely. Then she actually had the nerve to call me and ask me to pay them back! Of course, that means I have to deal with all the paperwork and legal releases between me, the other client, and the leasing company to fix their mess. Eventually, I decided it was finally time to switch over to online banking. I hadn't bothered with it before since I only handle about ten transfers a month and the bank branch is right on my way to work, but I called them to see how to set it up. They told me I'd need their specific digital certificate because my current CPA certificate doesn't integrate with their online platform. To make matters worse, the guy on the phone suggested I cancel my existing service with Finance first so I could sign a new contract for their proprietary certificate. When I looked into it, it seemed like the exact same type of certification. I asked him why I would bother signing a whole new contract when I already hold a valid CPA certificate, but he just shut me down. Apparently, their system only plays nice with their own specific certificate, and that was the end of the conversation. He didn't care at all that our current certificate carries the necessary authorizations for various government portals—like the IRS, Social Security, or state tax agencies—so if I switched, I'd have to redo all those authorizations and waste everyone's time with our clients.
So, I decided to just open an account at a different bank and set up their online banking immediately. I headed over to a Chase branch since it’s close to the office, but once I got to the counter, they sent me to see the manager, who spent fifteen minutes chatting on her cell phone with someone (I think it was her husband). Since I didn't have all day to wait around and wasn't the only one stuck there, I eventually just left.
Today, I went back to fill out the application to open the account, including the beneficial ownership statement, copies of the business registration, and the official documentation for our Tax ID. I showed up again this morning, only to be told that I was missing some sort of "confirmation" for my Tax ID. What kind of confirmation? They literally have the official document from the federal agency that issued the ID in the first place. But no, they insisted on this specific extra paper. I just told them to give me my documents back so I could figure it out myself. In the middle of all this, I get an email from them saying I hadn't submitted a signature card. What signature card? I haven't even officially opened the account yet! On top of that, I still have to print out the entire account opening agreement in duplicate and hand it in.
Since I've held my single business account at that first bank for twenty-three years, I'm curious to hear what you all have experienced. It used to be that you could walk into a bank with your business registration, and the staff would fill out all the paperwork for you, leaving you to simply verify everything with your stamp and signature. I can't wrap my head around how much things have changed; nowadays, we have to do all the legwork ourselves, and they just sit there stamping the papers. And I bet they'll probably charge us a fee just for processing the documents!
It feels like banks used to actually try to attract and keep customers, but clearly, that isn't the case anymore. They don't want to actually look at the clients; they just want you to do everything through a screen so they don't have to see you, as long as they can see your money.
Phew, I feel a little better getting that off my chest.