Wachovia Banking Problems

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  1. #1

    Wachovia Banking Problems

    Just found out my American bank Wachovia has stopped all overseas money transfers as of yesterday, and I wonder if this affects anyone in Hong Kong. I can not withdraw by ATM and this will be a serious problem. Any one have any suggestions?


  2. #2

    Join Date
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    When you say stopped all overseas transfers is it just for you? Or in general?

    Have you spoken to them or given them notification that you intend to use your card from overseas?


  3. #3

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    Not sure if this applies to your situation, but before I left home to come here I advised my bank and they notified me that my pin code for the atm should be 4 characters, when mine was 6 at the time so I had to change it.


  4. #4

    Banking Nightmares

    This may be a result of the Patriot Act that our wonderful Congress passed which makes those of us living overseas out to be money launderers or even worse, terrorists.

    My bank was closed by the FDIC last October without any warning and the accounts handed over to another bank. The other bank then made it so difficult for me to access my accounts that in the end, I had to have them close the accounts and send me a check for what I had in the bank. Of course, the idiots sent it by surface mail and it took six weeks to reach me. I lost several hundred U.S. dollars because of this and the FDIC basically ignored my letters.

    What I've done is open an account with a local bank and then write US$ checks on a different bank (it may be difficult for you to open a new account from Hong Kong) for deposit into my savings or current account. It takes three weeks for the checks to clear but at least I have access to my funds in the States and don't have to use an international ATM transaction.

    Is Wachovia Bank in trouble?

    To be brutally honest, I find some of the people that one has to deal with in U.S. banks seem to be some of the dumbest around. I don't think they hire the best for customer service.


  5. #5

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    Quote Originally Posted by Pokfulamphil:
    Is Wachovia Bank in trouble?

    To be brutally honest, I find some of the people that one has to deal with in U.S. banks seem to be some of the dumbest around. I don't think they hire the best for customer service.
    No they're not, Admittedly the share price has dropped a lot but then so has all the other banks.

    Have to agree though that the customer service staff are not the sharpest tools in the box but then thats the same whichever company you go to.

  6. #6

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    I have a TD Ameritrade account and all I had to do was let them know I was living overseas. That allowed me access to my atm card over here. Amazing enough I don't get charged any ATM fees nor do I get charged international fees. I'm about to close my HSBC account because I don't need it anymore - I use my TD card everywhere instead with no problems.


  7. #7

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    Wachovia was heavily into the CA housing market and they are frequently mentioned as possible take over targets.


  8. #8

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    Quote Originally Posted by Sleuth:
    Wachovia was heavily into the CA housing market and they are frequently mentioned as possible take over targets.
    Yup indeed we are

  9. #9

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    Quote Originally Posted by jimbo:
    Yup indeed we are
    You might become part of the much-despised HSBC.

  10. #10

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    Quote Originally Posted by Sleuth:
    You might become part of the much-despised HSBC.
    Nope JP Morgan is the more likely destination.

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