ComplaintsforBank of Travelers Rest

• Initial Complaint

  05/17/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  The Bank of Travelers Rest will not roll over my inherited IRA. My Wife ***** ** ****** Passed 9/28/2022 and I am the beneficiary of her IRA at the Bank of Travelers Rest, Certificate ********. I called the Taylors branch and altho I am disabled and aged, I was forced to Go to the Branch office to provide ID and death Cirtificate and Rollover Information. After great pain to Provide ID, Death Certificate and Rollover Information I was told the person who did the transfer., Is not available and would take care of it in a few days and call with any questions. No one contacted me and for any normal business that indicates they have done what is requested.. I then received a statement showing The bank had done nothing. I called Bank service representative who told me they have the Death Certificate , but the bank lost or misplaced everything else and she could not question the person who filed the Death certificate because they had no way of knowing who it was. So I asked for an account Statement in order to provide the letter of acceptance that the Bank requires. The bank Insist that I can only get the statement by appearing in person at the Banks main office and again provide ID and that they can not mail a statement. The Bank mail a statement 03/31/2023. All IRA's I have previously inherited have been rolled over by phone conversation with no Problem. I can only assume the Bank is reusing to roll the account over to cheat me out of the interest and discriminate because of my disability. I request the Bank of Travelers Rest Immediately roll over the IRA account to Me, the beneficiary, Without further delay, and to cease further delays. and unreasonable Request for multiple meetings. And stop advertising that they provide good customer service.

  Business response

  06/30/2023

  We appreciate the opportunity to walk through the process that our customer has shared. We began
  working with him to properly transfer the IRA from his wife’s name to his. It is true that we require
  several documents to complete this process. With fraudulent attempts to gain access to customers’
  money continuing to increase, Bank of Travelers Rest works to ensure we rightfully identify a customer
  before beginning any process. While this husband was listed as a beneficiary on his wife’s account, we
  did not have any identifying information from him and therefore needed to confirm his identity. After
  learning of his disability, the representative mentioned received permission to break with our procedure
  of identifying a customer in person and he was asked to text a copy of his driver&#**;s license to us. The
  bank does not issue statements for IRAs but does, however, issue maturity notices. The representative
  mentioned provided a workaround by mailing him an account detail screen from our processing system.
  Currently, we are waiting for the bank where he plans to transfer this IRA into his name to send us the
  request to transfer the funds.
  The loss of a loved one is an extremely sensitive time. Bank of Travelers Rest extends our sympathies to
  this customer and others who are grieving his wife’s passing.

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