Good afternoon, *** Attached please find the customer response letter for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below Problem:complaint [redacted] I received a letter from bancorp denial of the return of my money for jan and nov because I gave them my information witch I did for a one time paymeny actualy ihe pay was taken acording to bancoep on the maybe I did not find out until of jan about earthlink they telling me what earth link said all lies but my point is they were not authorized to take a pay ment defintely on jan or november I made a pay ment one time payment they had no right to go my on my card even if I did owe something as for bank they looking out for there self earth link had no right to use my card with out my permission after that one time achive dont want to take the time to do whats right this card has a lot of complaints plus they need to do the right thing I dont know wheather I owe them this money or not but my complaint is they had no right to use my card I usually pay with a credit card and I did concil earthlink service bancorp said I did not I have another service basicly achive and earthink stole my money achive let them maybe they split it feel now I have another replacement to do and a complaint to post to face book see if iam alone sincerly [redacted] Product_Or_Service: 9/11/Account_Number: 29243636Translate Desired Resolution / OutcomeDesired Resolution:Other (requires explanation)selectDesired Outcome:DesiredSettlementID: Refund I should be refundedhave my permission myandthose day they did not to go back and use that card
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below roblem:I have been back and fourth with Chime Bank over a dispute I filed back in December and they still have not resolved my issueChime Bank told me on two different occasions wrong informationFirst they said O would hear word about my disputed on January 3rd, then they said February 12thIt's been more than days and here we are beyond February 12th and they are telling me I have to wait longer and that I cannot be given a provisional credit for the nature of the disputeThis is poor customer service and poor treatment of customers in generalChime Bank customer service has lied twice to me about a resolution and still won't resolve it.Translate Desired Outcome:Refund me the money from my disputeIt's now no longer an issue of dispute with the vendor but the poor service and lies being toldThis is unacceptable and because I have had to waste time contacting Revdex.com and chime customer service I should be given the credit for Chime failing to meet their given time frame and SLA for resolution
Good afternoon, *** Attached please find the customer response letter and support documentation for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Mr [redacted] If you have any questions, please feel free to contact me Thank you***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below The information I received after attempts is insufficientThere is no account number, name of the account, what manner the funds are being held (ie money market, etc), nor does it even have my name correct on the topI would like a standard statement so I can transfer the funds to another establishment Regards,
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below 9/29/ Their statement says “your accout was established under the standard terms of our Safe Harbor IRA, which also should have been provided to you by the previous custodian.“ Which implies IRA is a Individual Retirement Account is refered to as “an annuity is a contractually executed, relatively low-risk investment product” I was NOT aware of or given any letter with the words -“The terms include a standard $maintence fee” “that was assessed in July when the account was established and an annual maintence fee that is charge on the anniversary of the ccount opening in subwequent years.” Again, I thought it was an IRA which would imply Individual Retirement Account that would give interest payments of some sortNot FeesAdditionally” No additiona fees have been assessed.” which is incorrect, they have taken $of my money Regards,
Good afternoon,*** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you***
Good morning, *** I've attached the response we mailed to Ms [redacted] , along with the dispute documentaton regarding her claim Based on information provided by the merchant the claim was denied Please let me know if you have any questions Thanks.***
Good morning, *** Attached please find the customer response letter for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Mr [redacted] If you have any questions please feel free to contact me Thank you
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear belowThe company held my money on a closed account interest free for about two weeksThey did not notify me at all that the account was closedI only found out when going to pay billsThey made me late on bills and never offered any compensationI would like $for the inconveniences and problems this caused a year good standing customerI did nothing wrong and just got stock responses with no effort to make right the financial troubles it caused meTerrible serviceI wonder by law do banks have to notify you within a certain amount of time that they have closed your account and not just sit on your money on a closed accounts for weeks without notifying the customerI feel what they did is unethical and reeks of scam actions Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is NOT satisfactory to me Regards,
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below.This has not told me anything as to why my account was closed and furthermore has not addressed the issue regarding the complaint with the Revdex.com
Good afternoon, *** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you ***
Good afternoon, *** Attached please find the customer response letter for Mr [redacted] If you have any questions please feel free to contact me Thank you
[redacted] You asked for a response within days or this complaint will be marked as closedThis letter responds as requested I received a couple of emails from Bancorp and also sent a few to Bancorp about this issueI also have done more research about the underlying issueIn response to Mr [redacted] 's letter to you, I have not accepted the results, I would put it more that I have been in a waiting pattern to see how this totally plays out and do/did not want to be rushed into a quick acceptance of a flawed answerI understand what they are doing, but that does not mean I necessarily agree with what they are doing Mr [redacted] 's letter to you states that they could not accommodate my first choice of resolutions "because of limitations of his brokerage account we cannot impact due to his separate agreement with National Financial Services." They could have impacted what was done as demonstrated below, because it was solely the Bancorp's decision, not any other entity they wish to try to divert attention to I do not believe that this is a true statementFirst, when I set up the brokerage accounts, the cover letter from The Bancorp Bank dated 2/13/states: "Thank you for opening your brokerage accountTHE BANCORP BANK has an agreement with National Financial Services LLC (NFS) in which NFS may provide trade execution, clearing, and other related services for your account." NFS is part of Fidelity Investments On the back side of the letter it states: "THE BANCORP BANK is responsible for: ...The acceptance of orders and other instructions from you regarding your account, and for promptly and accurately transmitting those instructions to NFSUnder circumstances, NFS will not accept orders or instructions directly from you" It goes on"NFS is responsible, at the direction of THE BANCORP BANK, for:...The receipt and delivery of funds and securities for your account in accordance with THE BANCORP BANK instructions." It is very clear from the above paragraphs that I have no relationship with NFS, my relationship by agreement is with the Bancorp BankIt is Bancorp that has the relationship with NFSMy instructions (as described below) to Bancorp were very clearTransfer my stocks in-kind via ACAT to my new HSA This position is further supported by the "Investment Requirement Acceptance Document", between me as the investor and HSA Investment Services, the Bancorp's past choice of entity for the custody and transfer services (from the Brokerage Account Customer Agreement)In the document under point 10, it states: "Funds in this brokerage account may not be...In addition, you may not transfer this HSA brokerage balance 'in-kind' to another brokerage accountIf you wish to move funds, you must divest your portfolio and transfer monies directly from the core Health Savings Account..." Note, I have not yet been able to determine if the relationship between the Bancorp and HSA Investment Services is truly an arm's length transaction, it appears that they are related entities This is the only place I can find that says that the brokerage balance can not be transferred in-kindNote also that the agreement is between HSA Investment Services/the Bancorp and me, with no mention of NFS as Mr [redacted] states in his letter to you What is also very important about the above quote, {that the requirement that does not allow a transfer in-kind} only applies if I want to transfer the brokerage accountIt does not state that if the Bancorp chooses to sell my account that I have to do anythingIn fact, in the Brokerage Account Customer Agreement it states in two places that Bancorp can terminate the account at any time, or can transfer its interests, but doesn't say that I have to liquidate the assets in that eventI only have to liquidate the brokerage account if it is due to an action that I am initiating If Bancorp puts forth the argument that Bancorp's new successor, HealthEquity would have taken everything over and provides investment choices, it needs to note that HealthEquity does not allow stock ownership, disenfranchising all who have their HSA savings in equitiesThe current loss I have as a paper loss becomes a real loss, and the direction of a future changed investment in a mutual fund is total speculation In the terms and conditions of the Bancorp's Account Agreement, states that the Bancorp can resign as Custodian any time effective days after it mails its resignation to meThe notice was dated November 1, effective November 30thUpon receipt of that notice, I was to make arrangements to transfer my HSA to another financial institution which I did, Saturna CapitalI made arrangements, the Bancorp received that notice on November or 24th via a tracked faxAs part of that transfer, I requested an ACAT in-kind transfer of my stocksSaturna made the request of either NFS or the Bancorp (I am unsure which one)I understand that NFS had made other in-kind transfers of other Bancorp held HSA's directly to Saturna the same day I was speaking to them about taking my accountI understand that Bancorp (not NFS) called Saturna and told them that they COULD NOT do ACAT in-kind transfersIf, as Mr [redacted] asserts, the limitation of in-kind transfers was due to a limitation by an agreement between NFS and me, NFS would have called Saturna, not the Bancorp calling Saturna Saturna relayed the Bancorp's message to me on Novor 25th When the in-kind transfer was discussed with Mr [redacted] , if there was some FIDC or IRS or governmental regulation that did not allow an in-kind transfer, it would have been citedIt was notOther HSA providers do allow an ACAT in-kind transfer, so it is not out of the ordinary In fact, in the email I received from Mr [redacted] dated 11/18/about the issue of transferring in-kind, he stated that Bancorp's First VP of Deposit Operations contacted the Transfer of Assets team at NFS to see if there was a way to accommodate my request to move the assets in-kindHe states that NFS confirmed that under this program, a direct transfer of assets is not allowed(Again, "Our First VP" contacts Transfer of Assets Team at NFS? How did he go around HSA Investment Services if it was not an alter ego of the Bancorp?) I just contacted NFS and asked the same questionThey told me that it was allowed, and the only issue is if the receiving custodian (Saturna)could not receive it; they had no problem sending the stocks in-kindIn fact, they said that it was no problem and that Bancorp was just making more work for itselfHe also checked and there was no notation on my account precluding an in-kind transfer So, if there was some (unbeknownst to me) agreement between me and NFS about not allowing in-kind transfers, then NFS would not have done the transfer for the other Bancorp client to Saturna If there was an agreement between Bancorp/HSA Investment Services and NFS, NFS would have no problem modifying the agreement because it has nothing to gain by not agreeing in this sales situationIt would have only been stopped by Bancorp If there was an agreement between the Bancorp and me saying things would have to be liquidated, Bancorp could have said, "Let's modify the brokerage agreement to allow in-kind transfers since we are selling out", as they are revenue neutral and it doesn't matter to themI don't believe that they wanted to say it before because prior to my Revdex.com complaint, they were going to make (what I estimate) $5-6,000,on stock sales commissions to what looks like its sister company, HSA Investment ServicesAfter they sent letters out to all stock holders of not charging commission, it became revenue neutral to the Bancorp, so allowing the in-kind transfer would make senseAnd the commissions could only be waived if Bancorp was in control of who gets the commissions (HSA Investment Services) So the outcome of settling the first aspect of the complaint (the lack of allowing an in-kind transfer in a situation that the Bancorp created with its sale of my account), was determined solely by the BancorpIt was not agreed to by me when setting up the accountI do not agree with Bancorp's actions, but have had to respond with actions as a result of the Bancorp's actions Because of the Bancorp's actions, lack of appropriate action, and business decisions that directly affect me, it has put into motion a series of related follactions and responses, of which I warned them about in my emails and in the original complaintThat is why this complaint has not gone the way of the dodo bird and become extinct So we come to today, and where does this go, as the issue is not totally settledYesterday, not of my wishes, I liquidated all stocks as the Bancorp directed on the last day possible, and have taken the (temporary) lossThe funds will be settled on December The Bancorp must then receive the money from NFS, and then transfer it per my instructions to SaturnaMy understanding is that these funds transfers by Bancorp can take a while; I was told that it may be weeks Once the funds are received, I will buy back the stocks that I previously heldThere will be a charge for commissions, about $15/stock, and we held stocksIn addition, there will be a gain or loss on the stock buy-backAs of the instant of this letter, the two portfolios have dropped $Earlier today it was up in positive territoryI am doing everything I can reasonably do to minimize the loss/maximize the gainThere are some stocks with gains, and possibly with use of limit orders on the re-purchases, all will be up If the stock buy-back takes weeks just to receive the funds from Bancorp and the stocks have increased in value to offset the commission cost ($275), I will drop the complaintIf the stocks drop in value to where the commission cost is not covered, then I will be looking for the Bancorp to make me whole, as again, this was not the route I wanted to go down, Bancorp's managers and executives made this choice, with noticeThey need to be responsible for their actions and for limiting my actionsBut I think the managers are now scared of setting a precedent This was the choice the Bancorp made, and I think that they need to do what a responsible entity would do to rectify a situation of its sole making The Bancorp now needs to decideIf it takes its staff weeks to get me my money, do they want me to immediately buy back the stock when I get that money at the market to freeze the possible exposure, or do they want me to place limit orders for days in a hope to possibly reduce the loss? Again, if they had allowed me the in-kind transfer, as it was not part of our original agreement for this HSA, we wouldn't be going through this step The other reason that this complaint is not being withdrawn is that I have not received all (or any, for that matter) of my money from BancorpI want to make sure that no additional fees or charges are added, possibly as retaliation for me filing this Revdex.com complaint Thank you very much, Lexe, and I will keep you posted
Good afternoon, *** Attached please find the customer response letter for Mr*** If you have any questions, please feel free to contact me Thank you ***
Good afternoon, *** Attached please find the customer response letter for Mr [redacted] If you have any questions, please feel free to contact me Thank you ***
Good afternoon, *** Attached please find the customer response letter for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below Problem:complaint [redacted] I received a letter from bancorp denial of the return of my money for jan and nov because I gave them my information witch I did for a one time paymeny actualy ihe pay was taken acording to bancoep on the maybe I did not find out until of jan about earthlink they telling me what earth link said all lies but my point is they were not authorized to take a pay ment defintely on jan or november I made a pay ment one time payment they had no right to go my on my card even if I did owe something as for bank they looking out for there self earth link had no right to use my card with out my permission after that one time achive dont want to take the time to do whats right this card has a lot of complaints plus they need to do the right thing I dont know wheather I owe them this money or not but my complaint is they had no right to use my card I usually pay with a credit card and I did concil earthlink service bancorp said I did not I have another service basicly achive and earthink stole my money achive let them maybe they split it feel now I have another replacement to do and a complaint to post to face book see if iam alone sincerly [redacted] Product_Or_Service: 9/11/Account_Number: 29243636Translate Desired Resolution / OutcomeDesired Resolution:Other (requires explanation)selectDesired Outcome:DesiredSettlementID: Refund I should be refundedhave my permission myandthose day they did not to go back and use that card
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below roblem:I have been back and fourth with Chime Bank over a dispute I filed back in December and they still have not resolved my issueChime Bank told me on two different occasions wrong informationFirst they said O would hear word about my disputed on January 3rd, then they said February 12thIt's been more than days and here we are beyond February 12th and they are telling me I have to wait longer and that I cannot be given a provisional credit for the nature of the disputeThis is poor customer service and poor treatment of customers in generalChime Bank customer service has lied twice to me about a resolution and still won't resolve it.Translate Desired Outcome:Refund me the money from my disputeIt's now no longer an issue of dispute with the vendor but the poor service and lies being toldThis is unacceptable and because I have had to waste time contacting Revdex.com and chime customer service I should be given the credit for Chime failing to meet their given time frame and SLA for resolution
Good afternoon, *** Attached please find the customer response letter and support documentation for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Mr [redacted] If you have any questions, please feel free to contact me Thank you***
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below The information I received after attempts is insufficientThere is no account number, name of the account, what manner the funds are being held (ie money market, etc), nor does it even have my name correct on the topI would like a standard statement so I can transfer the funds to another establishment Regards,
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below 9/29/ Their statement says “your accout was established under the standard terms of our Safe Harbor IRA, which also should have been provided to you by the previous custodian.“ Which implies IRA is a Individual Retirement Account is refered to as “an annuity is a contractually executed, relatively low-risk investment product” I was NOT aware of or given any letter with the words -“The terms include a standard $maintence fee” “that was assessed in July when the account was established and an annual maintence fee that is charge on the anniversary of the ccount opening in subwequent years.” Again, I thought it was an IRA which would imply Individual Retirement Account that would give interest payments of some sortNot FeesAdditionally” No additiona fees have been assessed.” which is incorrect, they have taken $of my money Regards,
Good afternoon,*** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you***
Good morning, *** I've attached the response we mailed to Ms [redacted] , along with the dispute documentaton regarding her claim Based on information provided by the merchant the claim was denied Please let me know if you have any questions Thanks.***
Good morning, *** Attached please find the customer response letter for Ms [redacted] If you have any questions, please feel free to contact me Thank you ***
Good morning, *** Attached please find the customer response letter for Mr [redacted] If you have any questions please feel free to contact me Thank you
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear belowThe company held my money on a closed account interest free for about two weeksThey did not notify me at all that the account was closedI only found out when going to pay billsThey made me late on bills and never offered any compensationI would like $for the inconveniences and problems this caused a year good standing customerI did nothing wrong and just got stock responses with no effort to make right the financial troubles it caused meTerrible serviceI wonder by law do banks have to notify you within a certain amount of time that they have closed your account and not just sit on your money on a closed accounts for weeks without notifying the customerI feel what they did is unethical and reeks of scam actions Regards, [redacted]
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is NOT satisfactory to me Regards,
Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below.This has not told me anything as to why my account was closed and furthermore has not addressed the issue regarding the complaint with the Revdex.com
Good afternoon, *** Attached please find the customer response letter for Ms [redacted] If you have any questions please feel free to contact me Thank you ***
Good afternoon, *** Attached please find the customer response letter for Mr [redacted] If you have any questions please feel free to contact me Thank you
[redacted] You asked for a response within days or this complaint will be marked as closedThis letter responds as requested I received a couple of emails from Bancorp and also sent a few to Bancorp about this issueI also have done more research about the underlying issueIn response to Mr [redacted] 's letter to you, I have not accepted the results, I would put it more that I have been in a waiting pattern to see how this totally plays out and do/did not want to be rushed into a quick acceptance of a flawed answerI understand what they are doing, but that does not mean I necessarily agree with what they are doing Mr [redacted] 's letter to you states that they could not accommodate my first choice of resolutions "because of limitations of his brokerage account we cannot impact due to his separate agreement with National Financial Services." They could have impacted what was done as demonstrated below, because it was solely the Bancorp's decision, not any other entity they wish to try to divert attention to I do not believe that this is a true statementFirst, when I set up the brokerage accounts, the cover letter from The Bancorp Bank dated 2/13/states: "Thank you for opening your brokerage accountTHE BANCORP BANK has an agreement with National Financial Services LLC (NFS) in which NFS may provide trade execution, clearing, and other related services for your account." NFS is part of Fidelity Investments On the back side of the letter it states: "THE BANCORP BANK is responsible for: ...The acceptance of orders and other instructions from you regarding your account, and for promptly and accurately transmitting those instructions to NFSUnder circumstances, NFS will not accept orders or instructions directly from you" It goes on"NFS is responsible, at the direction of THE BANCORP BANK, for:...The receipt and delivery of funds and securities for your account in accordance with THE BANCORP BANK instructions." It is very clear from the above paragraphs that I have no relationship with NFS, my relationship by agreement is with the Bancorp BankIt is Bancorp that has the relationship with NFSMy instructions (as described below) to Bancorp were very clearTransfer my stocks in-kind via ACAT to my new HSA This position is further supported by the "Investment Requirement Acceptance Document", between me as the investor and HSA Investment Services, the Bancorp's past choice of entity for the custody and transfer services (from the Brokerage Account Customer Agreement)In the document under point 10, it states: "Funds in this brokerage account may not be...In addition, you may not transfer this HSA brokerage balance 'in-kind' to another brokerage accountIf you wish to move funds, you must divest your portfolio and transfer monies directly from the core Health Savings Account..." Note, I have not yet been able to determine if the relationship between the Bancorp and HSA Investment Services is truly an arm's length transaction, it appears that they are related entities This is the only place I can find that says that the brokerage balance can not be transferred in-kindNote also that the agreement is between HSA Investment Services/the Bancorp and me, with no mention of NFS as Mr [redacted] states in his letter to you What is also very important about the above quote, {that the requirement that does not allow a transfer in-kind} only applies if I want to transfer the brokerage accountIt does not state that if the Bancorp chooses to sell my account that I have to do anythingIn fact, in the Brokerage Account Customer Agreement it states in two places that Bancorp can terminate the account at any time, or can transfer its interests, but doesn't say that I have to liquidate the assets in that eventI only have to liquidate the brokerage account if it is due to an action that I am initiating If Bancorp puts forth the argument that Bancorp's new successor, HealthEquity would have taken everything over and provides investment choices, it needs to note that HealthEquity does not allow stock ownership, disenfranchising all who have their HSA savings in equitiesThe current loss I have as a paper loss becomes a real loss, and the direction of a future changed investment in a mutual fund is total speculation In the terms and conditions of the Bancorp's Account Agreement, states that the Bancorp can resign as Custodian any time effective days after it mails its resignation to meThe notice was dated November 1, effective November 30thUpon receipt of that notice, I was to make arrangements to transfer my HSA to another financial institution which I did, Saturna CapitalI made arrangements, the Bancorp received that notice on November or 24th via a tracked faxAs part of that transfer, I requested an ACAT in-kind transfer of my stocksSaturna made the request of either NFS or the Bancorp (I am unsure which one)I understand that NFS had made other in-kind transfers of other Bancorp held HSA's directly to Saturna the same day I was speaking to them about taking my accountI understand that Bancorp (not NFS) called Saturna and told them that they COULD NOT do ACAT in-kind transfersIf, as Mr [redacted] asserts, the limitation of in-kind transfers was due to a limitation by an agreement between NFS and me, NFS would have called Saturna, not the Bancorp calling Saturna Saturna relayed the Bancorp's message to me on Novor 25th When the in-kind transfer was discussed with Mr [redacted] , if there was some FIDC or IRS or governmental regulation that did not allow an in-kind transfer, it would have been citedIt was notOther HSA providers do allow an ACAT in-kind transfer, so it is not out of the ordinary In fact, in the email I received from Mr [redacted] dated 11/18/about the issue of transferring in-kind, he stated that Bancorp's First VP of Deposit Operations contacted the Transfer of Assets team at NFS to see if there was a way to accommodate my request to move the assets in-kindHe states that NFS confirmed that under this program, a direct transfer of assets is not allowed(Again, "Our First VP" contacts Transfer of Assets Team at NFS? How did he go around HSA Investment Services if it was not an alter ego of the Bancorp?) I just contacted NFS and asked the same questionThey told me that it was allowed, and the only issue is if the receiving custodian (Saturna)could not receive it; they had no problem sending the stocks in-kindIn fact, they said that it was no problem and that Bancorp was just making more work for itselfHe also checked and there was no notation on my account precluding an in-kind transfer So, if there was some (unbeknownst to me) agreement between me and NFS about not allowing in-kind transfers, then NFS would not have done the transfer for the other Bancorp client to Saturna If there was an agreement between Bancorp/HSA Investment Services and NFS, NFS would have no problem modifying the agreement because it has nothing to gain by not agreeing in this sales situationIt would have only been stopped by Bancorp If there was an agreement between the Bancorp and me saying things would have to be liquidated, Bancorp could have said, "Let's modify the brokerage agreement to allow in-kind transfers since we are selling out", as they are revenue neutral and it doesn't matter to themI don't believe that they wanted to say it before because prior to my Revdex.com complaint, they were going to make (what I estimate) $5-6,000,on stock sales commissions to what looks like its sister company, HSA Investment ServicesAfter they sent letters out to all stock holders of not charging commission, it became revenue neutral to the Bancorp, so allowing the in-kind transfer would make senseAnd the commissions could only be waived if Bancorp was in control of who gets the commissions (HSA Investment Services) So the outcome of settling the first aspect of the complaint (the lack of allowing an in-kind transfer in a situation that the Bancorp created with its sale of my account), was determined solely by the BancorpIt was not agreed to by me when setting up the accountI do not agree with Bancorp's actions, but have had to respond with actions as a result of the Bancorp's actions Because of the Bancorp's actions, lack of appropriate action, and business decisions that directly affect me, it has put into motion a series of related follactions and responses, of which I warned them about in my emails and in the original complaintThat is why this complaint has not gone the way of the dodo bird and become extinct So we come to today, and where does this go, as the issue is not totally settledYesterday, not of my wishes, I liquidated all stocks as the Bancorp directed on the last day possible, and have taken the (temporary) lossThe funds will be settled on December The Bancorp must then receive the money from NFS, and then transfer it per my instructions to SaturnaMy understanding is that these funds transfers by Bancorp can take a while; I was told that it may be weeks Once the funds are received, I will buy back the stocks that I previously heldThere will be a charge for commissions, about $15/stock, and we held stocksIn addition, there will be a gain or loss on the stock buy-backAs of the instant of this letter, the two portfolios have dropped $Earlier today it was up in positive territoryI am doing everything I can reasonably do to minimize the loss/maximize the gainThere are some stocks with gains, and possibly with use of limit orders on the re-purchases, all will be up If the stock buy-back takes weeks just to receive the funds from Bancorp and the stocks have increased in value to offset the commission cost ($275), I will drop the complaintIf the stocks drop in value to where the commission cost is not covered, then I will be looking for the Bancorp to make me whole, as again, this was not the route I wanted to go down, Bancorp's managers and executives made this choice, with noticeThey need to be responsible for their actions and for limiting my actionsBut I think the managers are now scared of setting a precedent This was the choice the Bancorp made, and I think that they need to do what a responsible entity would do to rectify a situation of its sole making The Bancorp now needs to decideIf it takes its staff weeks to get me my money, do they want me to immediately buy back the stock when I get that money at the market to freeze the possible exposure, or do they want me to place limit orders for days in a hope to possibly reduce the loss? Again, if they had allowed me the in-kind transfer, as it was not part of our original agreement for this HSA, we wouldn't be going through this step The other reason that this complaint is not being withdrawn is that I have not received all (or any, for that matter) of my money from BancorpI want to make sure that no additional fees or charges are added, possibly as retaliation for me filing this Revdex.com complaint Thank you very much, Lexe, and I will keep you posted
Good afternoon, *** Attached please find the customer response letter for Mr*** If you have any questions, please feel free to contact me Thank you ***
Good afternoon, *** Attached please find the customer response letter for Mr [redacted] If you have any questions, please feel free to contact me Thank you ***