[BrianL99]

Originally Posted by lawgolfer

You're right. The OP seems to have a problem with most businesses with which he deals. These range from Burger KIng to dentists, chiropractors, real estate agents, orthopedists, health insurers, shipping services, to Urgent Care.

Color me surprised.

[donfey]

Originally Posted by Denbal82

I shop around for the best CD rates all the time.

My CD expired at my other bank so I got a decent rate at PNC. The account opening went smooth and I deposited over a 6 figure amount with a CASHIERS CHECK.

I gave them my P.O. Box as my mailing address and my beneficiaries address as I have done before with all my other financial institutions.

PNC bank called me up a few days later and said my P.O. Box cannot be accepted as an address. I told them about the numerous times other banks accepted it. They gave me some BS story saying if the Post Office had a fire we wouldn't have an address on file. I then told them what if my house burnt down? They didn't have an answer. Also, I told them, you can use my beneficiaries address. They then told me that they needed a physical address on me.

They then told me if I don't give them a physical address they cannot process my account AND they would deduct a couple thousand dollars in penalties. I told them, I gave YOU money, you didn't give me money. They put me in a catch 22 situation. Again, they accepted my address when I opened the account.

Now we all know why they didn't accept me as a customer is because they couldn't find my net worth and SELL my information and worth to other establishments because of their address demand. That's what this is all about.

Talking to the bank manager, Angie Kalas was useless. I had to go above her to the area and regional manager.

The area manager told me she worked it out and I can go into the branch and receive the full amount. I went to the branch two days later because of my schedule, and guess what? after waiting nearly two hours in the waiting room and having made an appointment, the associate gave me a hard time saying I used a personal check and I had to wait 10 days. I then informed her it was a cashiers check and my money was deducted from my previous bank within hours and there should be notes on my account to release the funds from the area manager.

They told me to leave and they would call me. I have spent numerous hours on the phone and driving back and forth three times. I think I spent 6 hours altogether on this nightmare. I finally received my funds.

PNC is all about themselves and not their customers. I will NEVER bank with them again.

Thanks for the review. As the bigger banks continue buying out the smaller, neighborhood banks, this is kind of "service" what we can expect.

[nn0wheremann]

Originally Posted by Denbal82

I shop around for the best CD rates all the time.

My CD expired at my other bank so I got a decent rate at PNC. The account opening went smooth and I deposited over a 6 figure amount with a CASHIERS CHECK.

I gave them my P.O. Box as my mailing address and my beneficiaries address as I have done before with all my other financial institutions.

PNC bank called me up a few days later and said my P.O. Box cannot be accepted as an address. I told them about the numerous times other banks accepted it. They gave me some BS story saying if the Post Office had a fire we wouldn't have an address on file. I then told them what if my house burnt down? They didn't have an answer. Also, I told them, you can use my beneficiaries address. They then told me that they needed a physical address on me.

They then told me if I don't give them a physical address they cannot process my account AND they would deduct a couple thousand dollars in penalties. I told them, I gave YOU money, you didn't give me money. They put me in a catch 22 situation. Again, they accepted my address when I opened the account.

Now we all know why they didn't accept me as a customer is because they couldn't find my net worth and SELL my information and worth to other establishments because of their address demand. That's what this is all about.

Talking to the bank manager, Angie Kalas was useless. I had to go above her to the area and regional manager.

The area manager told me she worked it out and I can go into the branch and receive the full amount. I went to the branch two days later because of my schedule, and guess what? after waiting nearly two hours in the waiting room and having made an appointment, the associate gave me a hard time saying I used a personal check and I had to wait 10 days. I then informed her it was a cashiers check and my money was deducted from my previous bank within hours and there should be notes on my account to release the funds from the area manager.

They told me to leave and they would call me. I have spent numerous hours on the phone and driving back and forth three times. I think I spent 6 hours altogether on this nightmare. I finally received my funds.

PNC is all about themselves and not their customers. I will NEVER bank with them again.

It has been my experience, in ten years of Villages residency, that almost all bankers around here have intellectual abilities similar to a box of rocks, have no knowledge of, or interest in normal business etiquette, and the younger they are the worse they perform.

[retiredguy123]

The OP's post doesn't ring true, even if a CD was not purchased. It sounds like the PNC teller did not open the account correctly in the first place. According to virtualpostmail:

Physical Address for Bank Accounts
US federal banking regulations require all bank accounts to have a real, "physical" address. This is why banks are required to request a physical address when opening a new account.

This regulation isn't new, but it hasn't been strictly enforced in the past. However, in the last few years, we've seen a trend where banks are reviewing all accounts to verify that the listed addresses are valid physical addresses.

[BrianL99]

Originally Posted by nn0wheremann

It has been my experience, in ten years of Villages residency, that almost all bankers around here have intellectual abilities similar to a box of rocks, have no knowledge of, or interest in normal business etiquette, and the younger they are the worse they perform.

I'd suggest it's exactly the other way around. Many Villagers are mired in the 80's and 90's and unfamiliar with the way banking and businesses operate in the 21st Century.

The world isn't going back to the way it operated 30 years ago. Embrace it or at a minimum, accept it and stop complaining.

[jacRI]

As a new customer did you not have to provide your license? I doubt you have a PO box listed there. Residence and mailing addresses can be different and you could have both within your account profile.

[oneclickplus]

I think you should just give them your address. Or perhaps you could insist that the P.O. Box is your only mailing address as you are homeless.

Originally Posted by Denbal82

I shop around for the best CD rates all the time.

My CD expired at my other bank so I got a decent rate at PNC. The account opening went smooth and I deposited over a 6 figure amount with a CASHIERS CHECK.

I gave them my P.O. Box as my mailing address and my beneficiaries address as I have done before with all my other financial institutions.

PNC bank called me up a few days later and said my P.O. Box cannot be accepted as an address. I told them about the numerous times other banks accepted it. They gave me some BS story saying if the Post Office had a fire we wouldn't have an address on file. I then told them what if my house burnt down? They didn't have an answer. Also, I told them, you can use my beneficiaries address. They then told me that they needed a physical address on me.

They then told me if I don't give them a physical address they cannot process my account AND they would deduct a couple thousand dollars in penalties. I told them, I gave YOU money, you didn't give me money. They put me in a catch 22 situation. Again, they accepted my address when I opened the account.

Now we all know why they didn't accept me as a customer is because they couldn't find my net worth and SELL my information and worth to other establishments because of their address demand. That's what this is all about.

Talking to the bank manager, Angie Kalas was useless. I had to go above her to the area and regional manager.

The area manager told me she worked it out and I can go into the branch and receive the full amount. I went to the branch two days later because of my schedule, and guess what? after waiting nearly two hours in the waiting room and having made an appointment, the associate gave me a hard time saying I used a personal check and I had to wait 10 days. I then informed her it was a cashiers check and my money was deducted from my previous bank within hours and there should be notes on my account to release the funds from the area manager.

They told me to leave and they would call me. I have spent numerous hours on the phone and driving back and forth three times. I think I spent 6 hours altogether on this nightmare. I finally received my funds.

PNC is all about themselves and not their customers. I will NEVER bank with them again.

[Michael G.]

Originally Posted by rsmurano

The big question is: why would anybody get a cd? You’re locked in with a rate that is just over inflation, get into a money market that has a better rate and you can buy and sell anytime.

The big answer might be:
Money market rates fluctuate, and some people don't like to bother
with buy and sell.

My question would be why either.
Why not a online high-yield savings account that comes close to both for returns,
m/m and c/d's and you always have access 24/7.

[CoachKandSportsguy]

Originally Posted by BrianL99

I'd suggest it's exactly the other way around. Many Villagers are mired in the 80's and 90's and unfamiliar with the way banking and businesses operate in the 21st Century.

The world isn't going back to the way it operated 30 years ago. Embrace it or at a minimum, accept it and stop complaining.

I would agree with Brian 100% here. .
and the OP is someone who wants the world their way, regardless of how the other businesses decide to operate their businesses. .

However, many business practices are to accept any customer immediately and then figure out how to retain the customer later. . Seen that behavior many times and the customer will bend most times. .

[walterray1]

Moving money around to different banks/financial institutions to chase a slightly higher interest rate for a CD is rather foolish imho. How much would you make on even six figure amount? Not worth the time and energy to do so. Also, as been previously said, providing only a PO Box is not sufficient in opening a new account. Common practice and common sense.

[Aces4]

Originally Posted by BrianL99

I'd suggest it's exactly the other way around. Many Villagers are mired in the 80's and 90's and unfamiliar with the way banking and businesses operate in the 21st Century.

The world isn't going back to the way it operated 30 years ago. Embrace it or at a minimum, accept it and stop complaining.

Your way or the highway? No thanks.

[Aces4]

Originally Posted by CoachKandSportsguy

I would agree with Brian 100% here. .
and the OP is someone who wants the world their way, regardless of how the other businesses decide to operate their businesses. .

However, many business practices are to accept any customer immediately and then figure out how to retain the customer later. . Seen that behavior many times and the customer will bend most times. .

The OP decided not to bank with PNC and didn't tell them how to operate their business but returning his money, over $100,000. in a timely manner is imperative. We have found banks are getting slower and slower in releasing requested funds and it may be time for some new law. The best plan now to move CD's is to go to the new financial institution, set up the new account and have them transfer the money from the former banking institution.

If we were young again the only way we would save in retirement IRA's is to have a Roth account taking advantage of the matching funding from the employers. The rest of our retirement savings would be under our control and not under government management for distribution.

[Bill14564]

Originally Posted by Aces4

Your way or the highway? No thanks.

Originally Posted by Aces4

The OP decided not to bank with PNC and didn't tell them how to operate their business but returning his money, over $100,000. in a timely manner is imperative. We have found banks are getting slower and slower in releasing requested funds and it may be time for some new law. The best plan now to move CD's is to go to the new financial institution, set up the new account and have them transfer the money from the former banking institution.

If we were young again the only way we would save in retirement IRA's is to have a Roth account taking advantage of the matching funding from the employers. The rest of our retirement savings would be under our control and not under government management for distribution.

Not BrianL's way or the highway, more like abiding by today's banking requirements or take your business elsewhere and good luck.

The OP most certainly did try to tell the bank how to operate their business. Unfortunately for him the bank did not recognize him as an authority in the matter.

We know he did receive his funds and for all we know it was in a timely manner as defined by banking regulations.

[Marathon Man]

Originally Posted by Whatnext

Looking back over all OP's previous posts, there does seem to be a whole history of problem with whoever there are dealings with.

I saw that too.

[Topspinmo]

Originally Posted by retiredguy123

The OP's post doesn't ring true, even if a CD was not purchased. It sounds like the PNC teller did not open the account correctly in the first place. According to virtualpostmail:

Physical Address for Bank Accounts
US federal banking regulations require all bank accounts to have a real, "physical" address. This is why banks are required to request a physical address when opening a new account.

This regulation isn't new, but it hasn't been strictly enforced in the past. However, in the last few years, we've seen a trend where banks are reviewing all accounts to verify that the listed addresses are valid physical addresses.

True, but they took his money and then held it hostage. Just give money back as fast as they took it.