Bryce's Rant

[cartoongambler]

Hello Bryce, glad to hear you have apparently reached a successful resolution to your present banking/liquidity problem. Before you had posted your resolution, I e-mailed my father who has been in the high levels of the banking/financial services industry for the better part of 40 years, to see if he had any possible solution. He replied that after 9/11 many banks simply wash their hands of these type transactions as it has all the looks of a money-laundering scheme. He said one answer may be to create several small accounts, but said he would happily check with the pros(he knows a multitude of banks/ bank presidents) on Monday morning if I would like.

I am completely ignorant of such matters(as such the questions I posed to my father may not have been a correct translation of your situation) , however if this may be a recurring problem, let me know and I have a source that can get you answers 'from the horses mouth' if you would like.

[TheBryce]

Thanks CG, I appreciate it. As long as AP continues to offer bank wires I should be able to operate through that in the future.

[Dmunnee]

Bryce,

I feel bad for your situation, but I have to say I wish I had that problem right now.

[stoxtrader]

thebryce - I cashout from FTP via wire - they have a 20k minimum which sounds like it is not a problem. try emailing support and they should be able to direct you to the right place. I would email both support and cashier....

[TheBryce]

Oh weird. 20K won't be enough in this case, but in the future it could be handy.

Edit: 20k minimum you say. Any maximum? I've shot them an e-mail.

[stoxtrader]

no maximum, that is how muckem, sbrugby etc withdraw...

[TheBryce]

In retrospect I feel kind of silly about this blog entry, having overlooked the easiest possible solution by assuming it wasn't there, but I suppose I learned something :p

[kidpokeher]

I agree with you 100%. It seems like today there is absolutely no reason for a bank to put a hold on a check. If Visa/MC can instantly know at any time whether you have the funds or credit limit available to process a transaction, it seems to me a bank can do the same thing. Most ridiculous is when they put a hold on a check and it's drawn from the same bank. How can they not know right there that the funds are available? It just seems like a scam that they're doing because they can get away with it.

[stoxtrader]

we need someone with commercial banking experience to explain this. I think that often, the banks do have some reasons for doing what they do, though customer service is certaintly NOT the front of the line. Both profit motives and regulations would probably go first.