I just opened a personal savings account at BAC, and when I did so they informed me that my deposits would be limited to under $4K per month. When they told me that, I got up to walk out and explained that I could not bank with them, because I needed to transfer enough money to purchase a car, and the Toyota dealership and another one told me they would only accept payment from a local bank.
So the manager said we could work something out so I could deposit enough to buy a car. When I went back after their ridiculous 2 week approval process to sign the paperwork and officially open the account, I reminded the manager that the very next step I would take after making the cash deposit to open the account would be to wire a larger sum to pay for a car, and he acknowledged that.
So the wire transfer was made on Wednesday,and the funds were deposited in my account.
Today I get a letter from someone in the bank asking for invoices, contracts, comprobantes, etc to support the reason for the transfer.
I have not purchased a car yet, I am still looking.
Am I in danger of them freezing my account? We are not talking about a huge sum here ( huge is relative, I know), but I am not buying a new car and it is more than the $4K limit they spoke about.
So the manager said we could work something out so I could deposit enough to buy a car. When I went back after their ridiculous 2 week approval process to sign the paperwork and officially open the account, I reminded the manager that the very next step I would take after making the cash deposit to open the account would be to wire a larger sum to pay for a car, and he acknowledged that.
So the wire transfer was made on Wednesday,and the funds were deposited in my account.
Today I get a letter from someone in the bank asking for invoices, contracts, comprobantes, etc to support the reason for the transfer.
I have not purchased a car yet, I am still looking.
Am I in danger of them freezing my account? We are not talking about a huge sum here ( huge is relative, I know), but I am not buying a new car and it is more than the $4K limit they spoke about.
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