Bank of America

[DebbieM]

Got called to a meeting with our Client Manager at BoA couple of weeks ago to inform us that BoA are selling off their International clients who do not permanently reside in the US.

This required quite a bit of clarification as we are NPR's and ultimately whilst this didn't affect us it did affect the kids as they don't have SSN's hence my question in another thread.

As we do quite a bit of business with them she managed to pull a few strings and keep them under our umbrella as one has a drivers license and one is in high school although she is still requesting SSN's - ITIN's will have to do.

Anyone with clients who reside in the UK might want to communicate this as the transfer is going through on the QT so as to not upset customers!!!! Also, if you bank with them and are here on a NPR basis maybe worth checking that you are not included in the list for transfer. I'm unsure as to whether accounts will still be with BoA on the surface or whether it will be a complete transfer and different bank.

Debs

[Kriz1]

Don't talk to me about BOA...we have been on hold with them for 2 hours so far this morning because they mucked up our bill buying account after taking over from MBNA.....they are having major problems right now....I'm ditching most of our credit cards with them because I can nolonger trust them...and you just can't get to talk to anyone without wasting most of your evening...hubby had to take the afternoon off to sort them out for a third time...

[Susie]

Hi

I have a uk company with BOA accounts and also resident in the USA with american company BOA business accounts, so do you know if they are selling off my business accounts?

[punky]

Thanx for the head's up Debbie.

[DebbieM]

The information that I was given was that they are only retaining accounts of those who reside in the US, hence why we had to prove our residency and that of the kids.

I'm sure the communication should be coming out very soon and I was told that once the book was sold, then it would be up to the new bank to advise customers of the change and therefore retain customers.

One of my customers who resides in the UK wanted to move his business to BoA and was refused so it is happening, check with the bank to see if it affects you.

[starving_dog]

I have a meeting at the BoA this afternoon. I will see what I can find out at my branch and post anything that might be interesting,

[punky]

I have a meeting at the BoA this afternoon. I will see what I can find out at my branch and post anything that might be interesting,

Thanx very much, that would be awesome. :)

[Grumpy]

I have a meeting at the BoA this afternoon. I will see what I can find out at my branch and post anything that might be interesting,


Thanks,

Wonder if there is a takeover bid, will they pay dividends

[chris]

No, I think it more to do with immigration control. There are clearly things afoot at the moment and some folks have alreday been told by the London Embassy that major changes are coming. In Florida the statute was changed on driving licenses for non-us citizens who are not LPR to renew licenses for 12 months at a time. That's down fromthe 2 years it was. London is becoming increasingly picky on approvals and most E2'rs seem to be getting 2 years on renewals as well as new applications. Just 12 months in a number of cases. These measures are all geared to making it more difficult to come, stay and do business/work. If you cannot bank with a bank, that makes it even more difficult to function.
I think it may be a case of connect the dots.
Did you know that from the mid 1920's to the mid 1960's the USA had a moratorium on immigration! I didn't know that till recently. Wonder what they could have in mind this time. At the end of the day they have 12,000,000 to absorb into the already broken system.

[starving_dog]

Sorry folks, it didn't really come up in the meeting. They do know that I am Canadian but that was not an issue. At no time did they ask my status. I just got my green card a few months ago and the bank wouldn't know that.

Something is up though, I work for a very large company and we are having clearance issues with immigrants from countries that traditionally have had no problems. I have heard that it is a DHS thing so I think something is coming down the pike.

[Susie]

No, I think it more to do with immigration control. There are clearly things afoot at the moment and some folks have alreday been told by the London Embassy that major changes are coming. In Florida the statute was changed on driving licenses for non-us citizens who are not LPR to renew licenses for 12 months at a time. That's down fromthe 2 years it was. London is becoming increasingly picky on approvals and most E2'rs seem to be getting 2 years on renewals as well as new applications. Just 12 months in a number of cases. These measures are all geared to making it more difficult to come, stay and do business/work. If you cannot bank with a bank, that makes it even more difficult to function.
I think it may be a case of connect the dots.
Did you know that from the mid 1920's to the mid 1960's the USA had a moratorium on immigration! I didn't know that till recently. Wonder what they could have in mind this time. At the end of the day they have 12,000,000 to absorb into the already broken system.

Hi Chris,

Do you know what other major changes are coming?

Not sure how many short term florida villas owners there are but wonder what will happen to their accounts, will they be told they are no longer welcome at BOA? What if other banks follow can you imagine the implications that will follow

Cannot believe just how paranoid the US govenment have become, the mind boggles

[chris]

Susie,
It was DebbieM who posted the BoA bit. I'm just connecting the dots that seem to have appeared in the last few months. We are just extending our E2 status at present and for the first time in 3 renewals are being asked for additional information. It all sounds very odd these days and I really do believe that DHS are getting their ducks in a row for major immigration change. It is only like in the UK, where govt departments know well inadvance what policy changes are going to be made, because as the good little civil servants they are. most policy changes are fed to the politicians by the civil servants. It's going to be the same here. So if you list things - certainly as they realte to brits in florida they look like this:
1. Tightening up procedures at London
2. London says major changes coming in soon
3. E2 Visas in London being given mainly for 2 years (fresh & Renewal)
4. London issuing a number of 1 year E2 visas
5. FL statute changes Oct 1 to give non US citizen driving license renewal for 1 year only
5. Rumors of BoA closing off banking services to non-resident non-US citizens
It may be the did the US land on the moon conspiracy theory all over again, but if you connect the dots, there is a common thread there and I don't like it one bit.