Message Font: Serif | Sans-Serif
No. of Recommendations: 18
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
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.