I assure you, every thing is American in this situation and yes, it happens to everyone, even those with biceps Take it easy, just a little joke. there is this thing called asset protection. Banks can simply demand ownership documents and all my asset protection goes out the window?
I have accounts at 3 different banks...But only 1 ATM card (simplicity if it gets stolen). Two Visa cards... Also accounts at Schwab and Fidelity. I even dropped my local credit union...I'm not sure they will make it, because of all the bad car loans on their books!! I like the flexibility this affords for the very reason you are dealing with. I also own a 20 year old truck (I bought new) as an extra vehicle. Some people spend a lot of their money on big vacations, large cable TV bills. I spend mine on making my life easier... Just me... PS Both my wife and I have current passports, as back up IDs...
Had a capital one $50k wire over the summer go into no man’s land for the entire day. Nobody would say anything other than, it’s in process. I put it in at like 7am. Luckily I work across the street from one of their branches so I went in there and saw a human but that person had no ability to influence it. It finally landed at my bank end of day but, it was piss poor. Never again will I send a wire from a place like that.
Happened to me as well when I was trying to transfer an amount into my bank account at ING. They held the amount and delayed it for a month claiming that any amount like these needed to be wired to a certain clearing bank and then released to my account bs like that. At the end, it turns out they had me mixed up with someone else that they put on a watch list. Some stupid back office clerk misread my name. I had to spend so much time dealing with them and at the end when they finally released the fund, they didn't even apologize. Online banking does save money but a lot depends on the quality of their back office cuz they are the ones that process everything. If they f up, then you are screwed and then they would have to do a huge and lengthy investigation to find out why.
Would you be comfortable scanning your passport and emailing to a back office clerk overseas to prove that you are really you? In the name of security, banks are jeopardizing our security even more.
Yes...Depends. Use strong/stable banks (not online, quarter percent higher rate trash banks). Two of the three I use are Citi and Wells Fargo...Add Schwab and Fidelity money, and I should be able to get moved around if necessary. Am I getting the highest rates...No. Is there a level of safety and competence...Better than most!! I pay for the competence and stability with lower CD rates...It's a trade off.