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Author: 2Leos Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4956  
Subject: B&H rant Date: 6/15/2001 10:42 AM
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Morning folks,

Up until today, I've been a happy B&H customer, even cheerleading (a little) on this board, despite glitches we are all too familiar with. Today, unfortunately, I found the proverbial straw. Here's what I've experienced the past few weeks:

1. Because of the fees, I decide to close my daughters' accounts and request disbursement checks. After two weeks of no checks, I call and a CSR says they are way back-logged due to closures and to sit tight a while. Another week goes by, so I follow-up and another CSR says that they should have been received MANY weeks ago and initiates a stop-payment and of course that afternoon they arrive, so... I call back the next morning and ask if I should cash them or wait for the replacements and am told the stop-payment hadn't gone through and to deposit them. Of course, the CSR was wrong, the checks were dead, and my bank bounced 'em -- on my kids savings accounts -- so now I'm back at square one with no checks AND service fees to boot! As of this writing, I have the replacement checks and am trying to recoup the services fees because the stop-pay wasn't my idea to begin with. In the end, I'm sure I'll get it but what a waste of time!

2. Based on a variety of factors, I decided to transfer my Retirement Account to Vanguard. Today, I follow-up on this while pursuing #1 above, and am told that the process is nearing completion and that the fees (PLURAL?) are being deducted. I knew there was a fee associated with transferring the IRA but I didn't know it was $25 to close the account, AND $50 to transfer it! That's right, $75.00 plus time and aggravation to do this!

3. I decide to check my various accounts and discover that B&H first decides to debit the fees from #2 above from my personal checking account via ACH, then changes course mid-stream and takes them from my GS Money Market they hold in my name -- which, logically, is what I understood they would do to begin with. No harm done other than my having to reconcile MORE accounts know. What the hell, what's a little extra work for me, right? Funny thing is I just finished paying of a large personal debt I had and could have started pumping money into the Retirement account I had with them -- forget it now!

4. Finally, and somewhat tangential, remember those e-mails we were getting announcing the new fee schedule, and other changes? Neither do I because they NEVER sent them to me -- their defense was that I could have read about them on the web-page. My response: if I wasn't on this board, I WOULDN"T HAVE KNOWN TO LOOK!

Sorry for the long rant but this is unacceptable! I understand that there are growing pains with EVERY new business but this is wasting my time, my money, and it's extremely frustrating. I honestly wish them well but they have lost me, and my children, for good. I just want them to shut my accounts down and let me walk away with minimal additional hassle so I can focus on other, more constructive, things!

- Derek
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