I recently needed to wire funds out of BofA into RCG to fund a futures account. This mook in the branch actually asked me why I was wiring this money, I told him I am going to the casino. WTF do you think I am doing with my cash in BMO Harris/RCG??? Then he asked me what do I do for a living, I told him "nothing", it beats working in a bank! I think I made Papoo nervous, he kept putting my name as the receiving bank instead of BMO Harris. It took 15 minutes in the branch, and the money was in my Ninja in about two hours. The online portal for BofA is useless. el surdo
I had same problem but i am less paranoid. İ love td ameritrade. İ have apex account and it is really pleasure to have zero cost to transfer money from account. You can guess the internatinal money transaction costs. İ had account at trade station but i have never had problem on patriot act or they don't care "purpose of wire" they have another problem. İ have to feed them all the time regardles i am trading or not if i have account i pay every f** month. for data for minimum monthly or software it goes... All free at tda. Thats why it is not important for me tda is asking purpose IB is not or TS not. No it is not only criteria to chose broker. TDA is focused in Usa and americans. İt tooks 3 years to have futures account with them as non-resident. Same as other problems when it is touch non-residents they are slow to think. So it is not major problem for them because it is not touch major customers. Also i will not dare to blame billon dollar company on my small transaction problem as they have benefit to hold this money. Here it is the problem on this topic: foreigners think another way they are from another culthute another world they can not understand why they must provide such a information moreover it is a little bit annoying. Can you imagine it is like child every time ask money from parents you have to inform why you need it, just it is their own money not parents. Second part of problem is tda: tda doesn't care. There is no detailed explenation officially on website. Patriot act is the only thing that they can point. Some of foreigner even found the act and read it -there is no wire request and purpose on that text it says "many laundering" or "terorism" you can guess it what it will be effect on regular people, just more confusion... İf tda write a short brief on problem and what it is solution instead of shouting "patriot act" maybe it will not be problem. "Personal use" simetimes works sometimes not. This year i used 6 times 7th i receive message that they need more spesific. Here is the solution; don't be shy say (write) why you need this money. Buy car, pay for children education, buy a gift for lover, send another account for example for forex or maybe to go casino don't worry no-one cares why you need just they have law and your account is not big enaugh to break the law.