Bank refuses to cash legitimate check.
I had to take an early disbursement out of my IRA last week. Got layed off a while back. The check from Edward Jones was cut on the 19th and overnighted (at my expense), it arrived at my door around 10AM on Friday the 20th.
I got to the bank, The Northern Trust Company of Oak Brook Illinois a little before noon (Denver branch). I could tell the teller was struggling with something on his computer, at one point he asked me to step aside so he could handle another customer as he had to wait for a reply from the home office.
And then the home office verified it, he was satisfied with my valid identification, and he refused to cash it. He said that it wasn't registering on his system because it was too new. He said that I wasn't supposed to show up the next day actually wanting money.
I calmly departed, model citizen that I am. To the tellers credit he came out from behind the windows to offer me his card and advise me to contact my broker to see if things could be expedited. Turns out he was an attorney before he got layed off. Pretty decent guy for an attorney.
I called E. Jones and left a message. Over an hour went by, then they called back and gave me an 800# to give to the bank. The 800# would connect them with someone who would clear this up they said.
I called the bank, gave them the #, gave them all the info from the check which they somehow hadn't gotten in an hour of running it through the machine. and waited some more for them to call back.
They said that the check had been verified by both Edward Jones and the home office but they still wouldn't cash it because it "wouldn't register". They could not tell me when it would register. They told me no saturday hours and no branch anywhere between here and Amarillo.
I didn't pay for overnight cause it sounded cool, I had a buddy lined up to help shuttle a car up. But that was if we could drive down sat & he returns sun. while I stay for a family thanksgiving. And I could take my dog that has wicked separation anxiety and weighs 100 lbs.
I could put some nasty spin on the story but I'm just telling it straight. How can they refuse to honor their own valid check when my identification checks out and everyone involved has verified everything involved?
Bottom line is that someone is telling me that I can't have MY money that I saved out of MY hard earned wage. That's inexcusable, but to do it when so many Americans have lost their savings to white collar sleaze is inexcusably stupid.
This story hung at around #7 all afternoon on reddit WTF. I still couldn't sleep so I'm boring you guys with it. I'm going to close out my account after the first of the year because if a small disbursement is this hard, I know I'll never see a retirement. Never let stupid people hold your money, that's what pappy used to say. MY MONEY DAMMIT. Not credit I'm asking for but MY MONEY>