LAMI from WSMON gives her Humble Opinion on the GUEST SPEAKER of WSOMN call and more
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LAMI from WSMON gives her Humble Opinion on the GUEST SPEAKER of WSOMN call and more
by Ponee on Thu Feb 18, 2016 11:44 am
LAMI
Good Morning All-
I would like to throw my 2 cents in here.
Gerry's friend alluded to having been with WF for approx.30 years...
Now I must admit being a regular Joe,account holder at WF does NOT give you MCA either.They do not offer this as a part of their regular services.They give you wiring capabilities only,to/from foreign destinations.
Three years ago,I tried to open up a non-interest bearing account- personal banker had absolutely no idea what I was asking for.I do not know if they even offer this to you now,as part of their regular services...perhaps this is only available at Wealth Management levels.?
I received a foreign currency inheritance two years ago,I was not allowed to keep it in the foreign currency,I had to have it deposited as USD.It took much pre-arranging with banks in two countries in order to receive any funds.This was through WF.
I do believe he was speaking his truth from his experiences.Perhaps he has not researched further in order to obtain a more informed opinion.
I know that there are several other banks that do offer a MCA account, Wells Fargo does not.You can verify that for yourself on their services pages.
As to the rest of the regulations he mentioned, I have not researched that so can neither agree or disagree.
We all have to tip-toe through the minefields of information,disinformation and ignorance.
Here are some links to various banking products:
PNC
http://content.pncmc.com/live/pnc/corporate/capital-markets/program-sheets/Multicurrency-Accounts.pdf
EVERBANK
https://www.everbank.com/currencies
WELLS FARGO COMMERCIAL ACCOUNT
https://www.wellsfargo.com/com/international/businesses/treasury/
(suggest you read the fine print on this type of account as well.)
I think we all have a lot to learn,regarding banking and financial transactions, as each bank appears to have different regulations/charters, and who knows what the future is going to bring regarding finances and banking and regulations?
We are all battling to establish what is the TRUTH at the present time.
Wishing ALL blessings
Lami.
(This is my humble opinion on the matter)
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Re: LAMI from WSMON gives her Humble Opinion on the GUEST SPEAKER of WSOMN call and more
by chilimama on Thu Feb 18, 2016 11:49 am
HAHAHAHAHA GOOD FOR HER
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Re: LAMI from WSMON gives her Humble Opinion on the GUEST SPEAKER of WSOMN call and more
by Kevind53 on Thu Feb 18, 2016 10:19 pm
Three years ago,I tried to open up a non-interest bearing account- personal banker had absolutely no idea what I was asking for.I do not know if they even offer this to you now,as part of their regular services...perhaps this is only available at Wealth Management levels.?
No, non interest bearing accounts were temporary accounts offered with extended FDIC insurance coverage. They were made available by 12 CFR 330.16 from December 31, 2010 to December 31, 2012 by institutions participating in the FDIC's Transaction Account Guarantee Program. This was a part of the government's initiatives in the wake of 2008. The legislation was not renewed and the accounts no longer exist. Guess the banker was not the one with no clue.
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