Complaint Review: CalNational Bank

Mohammed, your story STILL doesn't sound true. There isn't a bank in this country - especially Los Angeles - that would ask you to bring in all your statements when they have your complete banking history on their computers. A few keystrokes, and they can go back to day one.

To tell the truth, your letter sounds like a variation of the Nigerian lottery scam, only with a different subject recipient: the banks. Interesting idea, scamming the banks.

In any case, if you have your deposit slips and are aware of the company that issued your checks for $50K, you can trace back the deposit and the bank can provide you with a photocopy of the front and back of the deposited checks to see where the money was deposited. Once you get that (and that may cost you a nominal fee to get) it should be easy to trace your money. If it truly is your money.

Until then, this bank doesn't sound like a scam place to me.

August 1, 2006

Better Business Bureau
6125 Washington Blvd.
Culver City, Ca 90232

Re: California National Bank
Release of Money Deposited
Various CD Accounts and Checking Account No.: 0044017119

To Whom It May Concern:

I am writing to ask your assistance in settling a serious matter relating to several accounts I closed at California National Bank several months ago. I attempted to resolve this issue at a local branch of their bank, and then over the phone with their representatives, and then at their corporate office, but each time they failed to resolve the issue.

All I want is to recover my deposits with this illegitimate institution that I once trusted.

Here is the background of the situation.

On 12-27-05, I opened a checking account at their bank. Later on, one of their representatives repeatedly called me and convince me to open several CD accounts. It sounded like a good idea, so I opened three CD accounts, not knowing that the risk doing business with this bank outweigh the benefits.

Later, I wrote a check for $30.00 from my checking account, which I knew had approximately $3,000 dollars in it, but the check bounced; the bank returned the check unpaid, marked NSF for non-sufficient funds. (Please see attached.) I had never written a bounced check in my life. As if this was not bad enough, I was also charged a fee.

I attempted to find out why, and they told me there had been a mistake and they would take care of it. This sounded fine to me, so I waited patiently. I continued to use the debit card associated with the account, but did not write any more checks out of fear that the bank might say it had bounced like the first one supposedly had. Several months passed by, and the mistake still wasn't corrected.

By about late May early June, the time for waiting had run out, so I decided to go back to the bank to settle the issue of the bounced check. I figured this would be easy, so I thought while I was there I would also apply for a line of credit. I had brought my December bank statement along with me, believing this would be enough information to help them firmly resolve the mistake. I brought up the matter with an employee, showing her the December statement and explaining the situation. She wasn't sure what to do, so she went and asked her manager about it.

When she returned, she then told me the manager had said that the December statement was insufficient, telling me that she needed me to bring in my statements from subsequent months (February, March, April, etc..). This baffled me, as, obviously, those other statements were completely irrelevant to a mistake they had made in December 2005. Besides, even if, hypothetically, they had been relevant, the bank could have easily accessed this information on their computers.

So I asked to speak to the manager myself. I voiced these concerns to her and, sure enough, she requested that I bring in all other subsequent statements. By this point, I was disgusted, as I'd been dealing with this problem since January (when I became aware of it) and it had become clear that they were simply giving me the runaround again, for no apparent reason but to hold on to the illegal fee charges as long as they could (possibly as a practice in an effort to increase their bank's institutional reserves).

Frustrated, I said I was going to close my account. The manager brusquely and rudely agreed to start the process. There were no apologies. Without making adjustments, she began filling out a form to start the process of closing out the account. As she was processing the forms, I asked her again about the unjustified NSF fee for the December check. Again, she refused to help me.

At this point, I decided to just give up with this branch and contact their corporate office instead. I asked for the phone number to the corporate office so I could call them later. The woman who originally helped me was about to provide the number for me, but the manager stopped her. Instead, they gave me a generic 800 number to call. And she still refused to reverse the fees. At this point, I simply left, without signing anything. Between their refusal to reverse the unjustified charges, their demands to see statements that were completely irrelevant to the situation, and not even giving me the phone number for someone else to contact, I'd had enough trouble for one afternoon.

The next day, I called their corporate office to pursue the matter. They informed me that all of my accounts had been closed, including my CDs, which surprised me; I had not yet intended to cancel the CDs, as they were not mature. However, they assured me that they had not charged me any penalty or cancellation fee. This sounded acceptable to me. At this point, I had been so mistreated that I leapt at my chance to completely sever my relationship with California National Bank. They said they would mail me a check equal to the value of my deposits and balances there. So, after this conversation, I believed the matter to be settled.

However, as days and then weeks passed, I received no communication from the bank. I constantly contacted them but kept getting the same old excuses, the same old assurances.
They told me to keep waiting. Eventually, as it became clearer and clearer to me that this matter was not going to be as simple as they'd originally represented, I started keeping notes and timesheets of these communications, most of which were with answering machines and secretaries. Only once did a higher official (a VP) correspond with me.

Almost Two months passed before I finally received a cashier's check via certified mail that apparently represented the total money from the accounts closed. When this check finally arrived in July, I found, to my horror, that the amount of the payment for $5,375.40 was less than a quarter of the value of the accounts I had with them (three CD accounts and one checking account). Also the envelope was post marked by the U.S. Postal Service July 19, 2006, but the check was back dated by the bank July 3, 2006, most likely in an attempt to represent the bank acted timely. (Please see attached copy of the check and the envelope) The check was not accompanied by any documents explaining what the check meant or a breakdown explaining how they determined the value of the check. (Their rational being throwing the money at you saying, Here is your money.)

I chose not to cash or process this check out of fear that such an action might signify that I was agreeing that the amount of money paid to me was equal to the value of the cash in my checking account and CDs. Clearly, this was just a business trick used by the bank to prevent money from leaving their institution.

I tried to contact California National Bank to further investigate the matter, but no one returned my calls.

Having no other options, I was dragged into contacting the bank again. At this point, I was extremely sick and tired of investing my time and effort. Just like before, no one returned my calls. In spite of the inherent risk, since I cannot cash or deposit the check, I am forced to keep the check on hand.

Yesterday, July 31st, I decided to visit the corporate office to attempt to finally settle everything. When I got there, I called the Los Angeles Police Department to help me with the matter but they did not show up on time. Then I asked one of the security guards to escort me inside, because I wanted a witness around, as I suspected that this visit might be important for the record, and it would be good to have a witness to refute any lies they might attempt to fabricate.

I demanded the rest of my money, and an explanation of what the check meant. They refused. The woman I spoke with called the branch where the problem arose from. This branch then proceeded to talk her out of giving me any of my money back. She told me that the rest of my money would be coming in registered mail. Then I showed her the envelope the check had arrived in. That was my registered mail. Still, she insisted that the rest of the money would be forthcoming. I asked her when, and she said, Today, maybe. I told her I had already checked my mail that day. She told me to wait. One more delaying tactic. By now, it was almost closing time. I demanded to speak with someone from corporate management on the 4th floor, but they refused to call anyone.

This is a new definition of bank robbery.

I have grown tired of these issues, and simply want to recover the money I deposited with this bank and rightfully belongs to me. I do not know what has happened with my accounts. No institution should be allowed or have the right to illegally keep their customer's money. And no institution should be allowed to charge illegal fees, illegally bounce checks or drag their feet every step of the way to release the customer's money after the accounts are closed. Instead of helping the ustomer, they have been obstructive and obstinate.

Respectfully,
Mohammed

There isn't enough detail heer to determine what's going on. Certainly they aren't holding on to 50 grand just because.... what's the rest of this story?