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Subject:  American Express Lousy Service Date:  9/27/2000  9:18 PM
Author:  PatHoyt Number:  7170 of 8329

I am a budding Fool who wanted to move an old rollover IRA into another fund, so I considered American Express as they handle my 401K, with which I've enjoyed good service and profits. I called them and got some newbie on the phone who didn't know the differences between a rollover and a Roth, and who insisted it would be easier if the old company just wrote me a check and I could mail a check to them; the point is I wanted them to do a transfer to save me the hassle. He refused to help me the way I wanted to be helped, so they lost me as a customer.In addition, he was giving potentially bad advice to someone who might not know about IRA penalties. This incident really lowered my expectations of AMEX and made me more determined than ever to become a Fool and manage my own money. THANK YOU FOOLS!
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