- Report: #512937
Complaint Review: Bank Of Oklahoma Midwest City Oklahoma - Midwest City Oklahoma
Reported By:
Me And My Mom -
Midwest City, Oklahoma, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Bank Of Oklahoma Midwest City Oklahoma
1500 S Midwest Blvd Midwest City, 73110 Oklahoma, United States of America
Phone:
4057368900
Web:
www.bankofoklahoma.com
Categories:
Business Rating:
(0)
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Bank Of Oklahoma Midwest City Oklahoma BOK of Oklahoma Bad Business with Money orders, It was lost in mail, they refuse to replace or refund. Unfriendly, Unhelpful, Unreliable Midwest City, Oklahoma
I have been a long time account holder with this bank. Try some 20 + years. I feel it proper to issue such report at this time. Based on what has recently happened.
Over one month ago I went to my bank for a transaction. At the same time I decided to purchase a money order for my daughter in the amount of $400.00. The teller told me there was no need to purchase this since I was an account holder that the money order was free. Thereby giving it to me. I then filled it out properly and placed it in an envelope, addressed it to my daughter over 800 miles away. Checked my address book against what I put on the envelope to insure it was correct. It was! I then drove to my local post office only one mile from my bank and dropped it off inside in the mail drop for out of state mail.
It is well over a month later and she never received this money order. The Money order has been traced a few times in the last week, and all times came back not yet cashed.
I inquired to the teller inside my bank as to having this money order canceled and re-issued but she said that it was against their policy. That they DO NOT REFUND OR REPLACE lost, stolen, or destroyed money orders. And that it was not insured. And when buying/receiving a money order from their bank and sending it through the mail was no different than sending CASH THROUGH THE MAIL.
Now wait a minute, I thought that by getting a money order it was covered in some fashion because that is the VERY reason I did not send cash through the mail.
Then I called my daughter, who this money was for. Explained what was happening at my end. She called my bank and they verified to her everything they told me. That they are under absolutely no obligation to replace, refund or otherwise insure any monies placed in a money order from their bank.
This is not fair. I am on Social Security widow benefits/Disability benefits. This is money that they refuse to replace under any circumstances. Yet they say that money (if never cashed anywhere) would become something like money floating around their system unclaimed forever.
I just don't think that this should be fair. There is nothing right about this. I intend to pursue this to the "Higher Up" at this bank as well as discuss this with our local news station who has a "In Your Corner" Program. I hate to do this as I am a very fair person and believe in second chances. But $400.00 is a lot of money to just forget about and call it a lesson learned. This is NOT their money, it is my daughters. But until she gets this money order (if ever) I am the receipt holder which should make me the legal owner and claimant of this money.
Now what if anything can I do without bringing news stations and Higher up into this? If anyone knows, please email me. ASAP.
Thank You, Linda
Over one month ago I went to my bank for a transaction. At the same time I decided to purchase a money order for my daughter in the amount of $400.00. The teller told me there was no need to purchase this since I was an account holder that the money order was free. Thereby giving it to me. I then filled it out properly and placed it in an envelope, addressed it to my daughter over 800 miles away. Checked my address book against what I put on the envelope to insure it was correct. It was! I then drove to my local post office only one mile from my bank and dropped it off inside in the mail drop for out of state mail.
It is well over a month later and she never received this money order. The Money order has been traced a few times in the last week, and all times came back not yet cashed.
I inquired to the teller inside my bank as to having this money order canceled and re-issued but she said that it was against their policy. That they DO NOT REFUND OR REPLACE lost, stolen, or destroyed money orders. And that it was not insured. And when buying/receiving a money order from their bank and sending it through the mail was no different than sending CASH THROUGH THE MAIL.
Now wait a minute, I thought that by getting a money order it was covered in some fashion because that is the VERY reason I did not send cash through the mail.
Then I called my daughter, who this money was for. Explained what was happening at my end. She called my bank and they verified to her everything they told me. That they are under absolutely no obligation to replace, refund or otherwise insure any monies placed in a money order from their bank.
This is not fair. I am on Social Security widow benefits/Disability benefits. This is money that they refuse to replace under any circumstances. Yet they say that money (if never cashed anywhere) would become something like money floating around their system unclaimed forever.
I just don't think that this should be fair. There is nothing right about this. I intend to pursue this to the "Higher Up" at this bank as well as discuss this with our local news station who has a "In Your Corner" Program. I hate to do this as I am a very fair person and believe in second chances. But $400.00 is a lot of money to just forget about and call it a lesson learned. This is NOT their money, it is my daughters. But until she gets this money order (if ever) I am the receipt holder which should make me the legal owner and claimant of this money.
Now what if anything can I do without bringing news stations and Higher up into this? If anyone knows, please email me. ASAP.
Thank You, Linda
5 Updates & Rebuttals
Ronny g
North hollywood,California,
USA
You are very welcome..
#2Consumer Comment
Fri, October 23, 2009
I was going to suggest you use a different service to send a money order..and to insure it...but since that advice was not going to help you recover the $400.00, I didn't post it. Good to hear the bank did the right thing..and good to hear you now are using a better protected method of sending a money order.
Me And My Mom
Trenton,Georgia,
USA
BOK came clean, expressed apologies refunded finally after posting to ror.com
#3Author of original report
Thu, October 22, 2009
I am updating to let everyone know this site rocks! They obviously knew how wrong they were and refunded the monies today into my account. Expressed their apologies and now my daughter has her money on it's way via two day certified with tracking as well as I used a USPS money order which is fully insured when you purchase it.
I am grateful to those that responded. I was able to use the information you gave me to it's fullest. I have never used this site before yesterday and I must say it's been the best decision I've made in a long time.
Thanks everyone...... Your friend in Oklahoma
Ronny g
North hollywood,California,
USA
I should also note...
#4Consumer Comment
Thu, October 22, 2009
The banks right to refuse a stop payment on this money order can depend on your particular states banking codes..and the type of money order the bank issued.
This is copied from a professional banker...
"A personal money order it is not the same as a Cashier's Check and does not have the same stringent rules. There are two kinds of money orders: personal money orders and bank money orders. A personal money order is much like a one shot checking account. It is signed by the customer in the same way a check is. A bank money order, on the other hand, is a bank obligation, signed by the bank. If it is a draft drawn on the bank by the bank, it meets the definition of cashier's check and the customer will have no right to stop payment."
So if this was a personal money order...you should be able to put a stop payment on it. Request a stop payment form from your bank...there also may be a fee for this...usually 30 dollars or so but I do not know your banks policies. It also can take 30 days or so..but at least you will have some recourse.
If this was an actual bank money order..you may be out of luck unless the money order is returned to you by some miracle or act of kindness. If this is a personal money order the bank may be mistaken by treating this as a bank money order..and you will need to inform them they are dead wrong to not allow a stop payment.
Robert
Irvine,California,
U.S.A.
Actually....
#5Consumer Comment
Thu, October 22, 2009
It MAY come down to the type of Money Order as there are two that are generally issued by a bank.
The first is a "personal" money order. This is basically treated like a check, where the sender of the money order is also the signer. Here banks will generally do a stop payment on the Money Order and eventually return the money to the sender. If it was this type of order there should be no reason why they would not be able to refund the money.
The second is a little more complicated. This is a "bank issued" money order. Here instead of the "account holder" as the signer it is the bank that is guaranteeing the funds. In this case no bank will generally issue a Stop Payment because it is "guaranteed" funds, thus there is really no way to get the money back into the account.
If you hit a "brick wall" with the bank you may want to try the Office of the Comptroller of Currency(OCC). They are the government agency that may be able to assist you.
Contact OCC CAG
Toll Free: 1-800-613-6743
TDD Number 713-658-0340
FAX: 713-336-4301
Hours: 8 a.m. - 8 p.m., Eastern, Monday-Friday
Mail:
Customer Assistance Group
1301 McKinney Street Suite 3450
Houston, TX 77010
As for the link posted above I "believe" that that came from FDIC regulations. Those regulations and coverage ONLY come into play IF the bank goes under. If it is not from the FDIC I would hope that the source would be noted as that would help everybody.
Ronny g
North hollywood,California,
USA
You bank may be wrong...
#6Consumer Comment
Thu, October 22, 2009
I posted below the policy with my bank regarding money orders. I would "assume" your bank is an "insured depository institution". Now why they won't help you out..even if simply out of courtesy or compassion is beyond me..but you may have legal recourse.
If I were in your shoes...I would be spending as much time as possible at that bank..and when not at that bank..on the phone. Yes..it will be frustrating..and yes it will be time consuming..but it seems like $400.00 is a lot of money to you and your daughter..it is to me also..and many others.
If your persistent contact with the bank brings no resolution...then yes..I would contact the media... and every single consumer agency...government agency and banking agency possible.
Cashiers and Official checks, money orders: If issued by an insured depository institution, these monetary instruments are covered as a transaction account (unlimited coverage).
