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Update 2: “How long could it possibly take?”

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Update 2: “How long could it possibly take?”
Old 10-14-2020, 07:36 PM
  #1

This morning Mom was able to sign a new set of paperwork. She did, however, ask me to read it all to her because she wanted to make sure it was really the right papers, so I read all 13 pages aloud at 6:30 in the morning. DH took it to the bank. He asked for the banker I had talked to yesterday. He got to ask his two questions.

1. Why did you deny a signature that was notarized and witnessed? Apparently it wasn’t so much that it looked different, but it looked like it had been marked out.

2. Why did it take a month and a half to get a decision? She didn’t have an answer for that one. I still say it wasn’t found until I called the first time because the guy I talked with didn’t see the paperwork in the system and asked if he could call me back after he checked the schedule to see who was working that day. He walked back and said he “found it” in the system.

Banker scanned and sent the new document to the legal department while DH was there. She said I’d have an answer by Monday. We shall see.


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Old 10-14-2020, 08:00 PM
  #2

Is this a local bank or a giant, national bank?
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Stalling
Old 10-14-2020, 08:14 PM
  #3

That does sound better, although still totally unacceptable. There is absolutely no reason whatsoever that you have had to jump through all of those hoops. Nor any reason why, now that they have all the paperwork AGAIN that the changes weren't processed IMMEDIATELY. Meaning today.

And what in the world does "have an answer" mean? That implies that the bank could again be denying your POA.

Why are they stalling? I wonder if there is something majorly wrong with the financial status of that bank.
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Old 10-14-2020, 08:21 PM
  #4

Really sorry you and your mom have to deal with this kind of stress
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Old 10-15-2020, 04:04 AM
  #5

Quote:
Is this a local bank or a giant, national bank?
When she started using the bank, it was a small, local bank. It was always great. It was bought out by a major, national bank. It was terrible after that. Mom stayed because she said it was just easier. I switched to another bank, also large, national bank, but it was great. I’m now at a smaller regional bank, and I like it a lot as well,


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Old 10-15-2020, 04:07 AM
  #6

By the way, I wrote a check to Mom’s neighbor for yard mowing AND checks to pay County and city taxes. I got her bank statement and the bank processed both with ZERO hesitation, yet they are being knit-picky about the POA.
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Old 10-15-2020, 04:56 AM
  #7

I agree with others who have posted--it's inexcusable that you have to go through this.

Yes, there's something to be said for the smaller regional banks. We got a home mortgage many years ago through a local savings and loan (S&L) that was wonderful, but they were later taken over by a larger bank (which was then taken over by another bank) and everything changed for the worse.

To make a long story short, we switched all our accounts to a credit union and are happy we did it.
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Old 10-15-2020, 06:17 AM
  #8

Sounds like the POA is a PITA! (Sorry, I couldn't resist!) Hope everything gets resolved by Monday, as they said.
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Thanks for the update
Old 10-15-2020, 07:42 AM
  #9

You need to let us know what happens on Monday.
I will say that their explanation of “looking marked out” does sound reasonable. It is just a shame that you have to deal with all this again.
Good luck!
BTW, did I ever thank you for the pic of THAT tree last week?
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Old 10-15-2020, 11:31 AM
  #10

Casseyree made a good point about the size of the bank. When I was still trying to gain control of my parent's financial situation I had to move most of their accounts to a local bank. No matter what POA's we had, they wouldn't let us put all the accounts in to the family trust. (They kept telling me Dad had to be present despite him being legally incapacitated. There was NO way I was talking him into a bank.) We ended up taking out all their money and moving all but one account (Kept so I didn't have to move all their autopays/deposits) to a local bank where they were so helpful! Weird that we could close our accounts, we just couldn't put them in a trust.

Honestly, it was months of banking hell with Wells Fargo and then the new place was able to process all the paperwork and get all the accounts into the trust in a few weeks. (The only reason that took so long is getting my brother to sign his part of the paperwork. ERGH!) Oh, and did I mention that my parents thought they had put everything in their trust years before and ALL The Wells Fargo bank statements etc. were addressed "x family trust" but the paperwork just hadn't been done correctly by the bank?

I keep as little money as possible flowing in/out of that Wells Fargo account and my name is on it now so I should be able to close it when needed. I'm not looking forward to another fight with them.


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