Bank locked my account for 10 days, broker moved my money same day

Honestly I never thought I'd see such a big difference until last month when I needed to move a chunk of money fast. My bank put a hold on my checking account for 10 business days because I tried to wire $15k to a contractor. They said it was fraud prevention but it felt like punishment. Meanwhile my broker let me transfer the same amount to my checking account in under 4 hours. The whole thing made me realize how slow banks can be when you actually need your cash. Has anyone else dealt with a bank holding your money for no good reason?

2 comments

2 Comments

stellac976d ago

10 days for a simple wire transfer?

richardk265d ago

Wait, have you tried calling their support line directly? I had a similar issue with a wire transfer last year and it turned out there was a verification hold on the account that nobody told me about. @stellac97 what really helped me was asking for a specific reference number and then following up every day after that. It was annoying but the transfer finally cleared after i pushed them hard enough. Honestly sometimes these delays are just their system being slow and they need a customer to kick them into gear.