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BEWARE Bank of America now after Armored Vehicle Collectors

Posted: Tue Apr 26, 2016 6:35 am
by Augdog1964
Hello All!

Hey I wanted to relay an issue to you all, so you can all warn other vehicle collectors of a huge potential problem.

In early April I wired funds to the UK to pay for shipping of my BRM-1k (a rare armored BMP-1 variant). This was after the funds for purchase had been wired (which I think was about 2 weeks earlier).

Today, at least 3 weeks later, I get a phone call from my bank saying that Bank of America had held the wire, and was not going to process it until “questions were answered” as it may constitute a violation of their policies.

Mind you, this wire was for shipping of a vehicle, not the vehicle itself.

My bank is NOT Bank of America (nor would it ever be), but when I asked my bank (US Bank) why Bank of America was involved, they said most of the major banks use Bank of America for all International wires out of the US. US Bank does the same. BofA (according to my US Bank person) controls most of the international wire transfers…

SO, they had held my wire until they got answers to their questions… their questions?

1) Is this vehicle armored and/or can it have guns fitted to it.
2) Who is the owner of this vehicle.
3) What is the ultimate or intended purpose for owning this vehicle.

So I answered the questions, and now I wait to see if my shipping wire will go through for my armored vehicle.

I know BofA did similar things with gun shop owners, cancelling their accounts and not processing their CC payments), so now it appears they are extending their noses into vehicles too.

Incredible, that THEIR policy can stop MY money from going overseas, for a legal purpose, that came OUT of an institution that they clear money for.

Hope you and yours are doing well…

God Bless!

Augdog1964

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Tue Apr 26, 2016 8:17 am
by 1943Willysgpw
I am not a person that holds grudges. That being said, I guess I do. I truly hate Bank of America.

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Tue Apr 26, 2016 8:37 am
by DaninNM
suggest you try FOREX. They have processed international transfers for me and their rates are great.....this is a direct result of the jerk's attempt through the fed to screw legitimate gun owners in the USA by denying gun shops and others access to the financial sector of the market.

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Tue Apr 26, 2016 1:03 pm
by gearhead
After what BoA did to my good friend's NAPA franchise, I will NEVER use them for business.
Seems they DOUBLED their short term business rate, when my friend complained, and said his business would suffer and may fail, BoA closed their account.
Instant no business credit! The local credit union stepped in in good faith with a fair rate.

Remember BoA foreclosed without reviewing 100s of loans.

And US Bank has given me the poorest service on my mortgage ever (my 4th home mortgage). So I refinanced through my local credit union.

Ed S :)

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Wed Apr 27, 2016 11:40 am
by Tapper02
DaninNM wrote:suggest you try FOREX. They have processed international transfers for me and their rates are great.....this is a direct result of the jerk's attempt through the fed to screw legitimate gun owners in the USA by denying gun shops and others access to the financial sector of the market.
Concur...I use OzForex for all my international transactions.

-Tom

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Wed Apr 27, 2016 11:59 am
by DaninNM
ditto US BANK....one of the worst banks in the state of NM.......their customer base continues to fall....closing down office too. Closed all my accounts there.

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Mon Aug 01, 2016 9:49 pm
by Brian Wolf
Have had noting but good experiences with US Bank. BOA sucks.

Re: BEWARE Bank of America now after Armored Vehicle Collectors

Posted: Sun Sep 24, 2017 1:17 pm
by rondo
BOA has got to be one of the worst banks in the world.

Re: BEWARE Bank of America now after Armored Vehicle Collect

Posted: Sun Sep 24, 2017 1:40 pm
by 17thAirborne
DaninNM wrote:
Wed Apr 27, 2016 11:59 am
ditto US BANK....one of the worst banks in the state of NM.......their customer base continues to fall....closing down office too. Closed all my accounts there.
I did the same a few years ago for many reasons. They suck!