Bank Witholding $$$

[dirah]

I recently opened a new bank account, intending to use online.
After I made the initial deposit, the bank told me they are blocking the funds until I personally appear at the branch and verify my identity.
The problem is that the closest branch is nowhere near.
They refuse to allow me to establish my identity any other way, such as by sending/faxing documents.
It didn't help to escalate the matter to manager, etc.
Are they allowed to do this legally?
Any way around it?
Failing all else, since I funded by CC, would I win a dispute?

[notanonymous]

I recently opened a new bank account, intending to use online.
After I made the initial deposit, the bank told me they are blocking the funds until I personally appear at the branch and verify my identity.
The problem is that the closest branch is nowhere near.
They refuse to allow me to establish my identity any other way, such as by sending/faxing documents.
It didn't help to escalate the matter to manager, etc.
Are they allowed to do this legally?
Any way around it?
Failing all else, since I funded by CC, would I win a dispute?

Complete guess - but it seems logical that it is legal to make you appear in person.

Why dispute?  Tell the bank you can't make it, and release the funds.

[Nitantnel]

Which bank is this?

[dirah]

Tell the bank you can't make it, and release the funds.

I told them that, they said they can't release the funds even if I were to close the account.

[notanonymous]

I told them that, they said they can't release the funds even if I were to close the account.

Are they allowed to do this legally?

That, I cannot imagine is legal.

[Ergel]

That, I cannot imagine is legal.

I can

[notanonymous]

I can

How so?  He makes a deposit of funds in order to start a new account.   They give him a condition to open the account that he cannot meet.  You feel it is legal for them to keep his funds?

[Ergel]

How so?  He makes a deposit of funds in order to start a new account.   They give him a condition to open the account that he cannot meet.  You feel it is legal for them to keep his funds?

It's not a question of feel or what I think is right or wrong (which BTW, I doubt this is just a simple I wanted to open a bank account online situation, see funded with cc). Makes sense they can't release funds without verifying identity. They don't want a chargeback and a claim of fraud

[notanonymous]

It's not a question of feel or what I think is right or wrong (which BTW, I doubt this is just a simple I wanted to open a bank account online situation, see funded with cc). Makes sense they can't release funds without verifying identity. They don't want a chargeback and a claim of fraud

I used that word assuming your lack of knowledge of the banking industry is as little as mine.

But what potential problem could there be with refunding the money back to the same cc?

[ranhan429]

What bank is this??

[ayman]

Which bank is this?

What bank is this??

You will prob not receive an answer openly on the forum, try pm...

[dirah]

Filed with CFPB. Will see what happens.

[yos9694]

Get familiar with the Patriot Act and AML in general, they are absolutely in the right.

[yitzf]

Filed with CFPB. Will see what happens.

One you're filing, file a complaint with the FDIC also.

[Saver2000]

It's not a question of feel or what I think is right or wrong (which BTW, I doubt this is just a simple I wanted to open a bank account online situation, see funded with cc). Makes sense they can't release funds without verifying identity. They don't want a chargeback and a claim of fraud

[Saver2000]

Filed with CFPB. Will see what happens.

+1

[how]

I recently opened a new bank account, intending to use online.
After I made the initial deposit, the bank told me they are blocking the funds until I personally appear at the branch and verify my identity.
The problem is that the closest branch is nowhere near.
They refuse to allow me to establish my identity any other way, such as by sending/faxing documents.
It didn't help to escalate the matter to manager, etc.
Are they allowed to do this legally?
Any way around it?
Failing all else, since I funded by CC, would I win a dispute?

Had the same. Did you open the account when out of the US?

Call up close the account and they will send you a check for the balance.

[Ergel]

[meshugener]

Get familiar with the Patriot Act and AML in general, they are absolutely in the right.

+1

Why don't you go down to the bank, if I may ask?

[Joe4007]

+1

Why don't you go down to the bank, if I may ask?

I recently opened a new bank account, intending to use online.
After I made the initial deposit, the bank told me they are blocking the funds until I personally appear at the branch and verify my identity.
The problem is that the closest branch is nowhere near.
They refuse to allow me to establish my identity any other way, such as by sending/faxing documents.
It didn't help to escalate the matter to manager, etc.
Are they allowed to do this legally?
Any way around it?
Failing all else, since I funded by CC, would I win a dispute?