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Started By
Message
Liquidity Issues Axos Bank? Wire delayed/not processed. Not answering phones
Posted on 4/9/25 at 10:13 am
Posted on 4/9/25 at 10:13 am
I initiated a wire transfer over 24 hours ago and it still has not been processed.
Got a call many hours after the initiation that I needed to provide more info. Call them back and got a message they are experiencing extremely high call volume.
After 30 mins on hold call was disconnected by them.
Called back and then got a message they are having issues with their phones and to send requests to their secure email via website.
Sent email with picture of ID and selfie and got response they can't see the attachments....sent multiple times. Finally got response they see it. but still no wire.
Nothing but delays and not answering the phone...
Got a call many hours after the initiation that I needed to provide more info. Call them back and got a message they are experiencing extremely high call volume.
After 30 mins on hold call was disconnected by them.
Called back and then got a message they are having issues with their phones and to send requests to their secure email via website.
Sent email with picture of ID and selfie and got response they can't see the attachments....sent multiple times. Finally got response they see it. but still no wire.
Nothing but delays and not answering the phone...
5
Posted on 4/9/25 at 10:15 am to sidewalkside
Yikes
Posted on 4/9/25 at 10:18 am to sidewalkside
quote:I'm not seeing anything negative on AX fwiw.
Liquidity Issues Axos Bank? Wire delayed/not processed. Not answering phones
Posted on 4/9/25 at 10:27 am to sidewalkside
How big was the wire? Ballpark.
Posted on 4/9/25 at 10:28 am to TDFreak
over the FDIC insurance limit
Posted on 4/9/25 at 10:30 am to sidewalkside
Probably computer issues. It happens.
Posted on 4/9/25 at 10:31 am to TDTOM
this is an online only bank. no branches
Posted on 4/9/25 at 10:33 am to sidewalkside
quote:
this is an online only bank. no branches
That is your fault
Posted on 4/9/25 at 10:46 am to Barneyrb
quote:
That is your fault
You think liquidly issues don't impact physical banks and online banks the same?
Posted on 4/9/25 at 10:55 am to sidewalkside
quote:
You think liquidly issues don't impact physical banks and online banks the same?
Nope, but if I have a problem with Candence Bank or the credit union I use I can walk in and get an answer or climb on someone's desk until I do.
Posted on 4/9/25 at 10:57 am to sidewalkside
quote:
over the FDIC insurance limit
That's going to take several upper level approvals, probably.
Posted on 4/9/25 at 11:02 am to sidewalkside
We all know liquidity issues hit fintech and brick and mortar banks the same. However, I would NEVER keep my business banking with a fintech, for this reason and several others.
For business, I was with Wells Fargo for over 2 decades, because I didn't know better. Anytime I went in for any sort of loan product related to business, they had no interest. And my credit is top tier. When Covid hit and I saw how they fawked over small/medium business with PPP distribution. I finally called the local VP of my small hometown bank... on her personal cell number. Read that part back.
When I have any need or issue. I walk in, call or text the VP of my bank branch. And its taken care of. I can call her right now and ask for a personal loan and they won't even pull my credit. When Covid hit, I moved all my money over. I'd just bought a new season business. And was completely fawked. Not only did she get me PPP in 48 hours (after waiting months with Wells Fargo). They did so out of their own cash on hand. Then they had the SBA reimburse them. They did this to the tune of nearly $50 million dollars in their local market. Because they knew the local business owners kept them in business.
In fact for wire transfers, I call the branch, the customer service attendant will do it over the phone for me. Needless to say, I've never found myself in your position.
I took the time to type all this out. Not to change your mind. But to enlighten other personal and business banking customers. On why Fintech can be great but not for everything. As well as challenge others to keep their business with a small local traditional (non fee based) bank.
For business, I was with Wells Fargo for over 2 decades, because I didn't know better. Anytime I went in for any sort of loan product related to business, they had no interest. And my credit is top tier. When Covid hit and I saw how they fawked over small/medium business with PPP distribution. I finally called the local VP of my small hometown bank... on her personal cell number. Read that part back.
When I have any need or issue. I walk in, call or text the VP of my bank branch. And its taken care of. I can call her right now and ask for a personal loan and they won't even pull my credit. When Covid hit, I moved all my money over. I'd just bought a new season business. And was completely fawked. Not only did she get me PPP in 48 hours (after waiting months with Wells Fargo). They did so out of their own cash on hand. Then they had the SBA reimburse them. They did this to the tune of nearly $50 million dollars in their local market. Because they knew the local business owners kept them in business.
In fact for wire transfers, I call the branch, the customer service attendant will do it over the phone for me. Needless to say, I've never found myself in your position.
I took the time to type all this out. Not to change your mind. But to enlighten other personal and business banking customers. On why Fintech can be great but not for everything. As well as challenge others to keep their business with a small local traditional (non fee based) bank.
Posted on 4/9/25 at 11:07 am to GhostofJimMorrison
quote:
keep their business with a small local traditional (non fee based) bank.
Tell us how much interest were you getting on any cash with that bank now?
Posted on 4/11/25 at 3:44 pm to sidewalkside
quote:
Tell us how much interest were you getting on any cash with that bank now?
That was your takeaway from the information I shared? You felt the need to go for a "gotcha" hot take?
I'll play along, my interest I got on my cash was 0%. Because I don't put my money to sleep in things that make such a low yield. My money that sits in a bank is to satisfy the cash flow needs of my business's or my household.
Posted on 4/11/25 at 3:45 pm to sidewalkside
quote:
this is an online only bank. no branches
I know.
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