My Banker’s mistake(s)…

The error was certainly not deliberate, but my bankers tried to bury their mistake rather than square things up with me.  Now that they admit to the mistake, they’re dancing around trying to buy me off for less than they owe me.  They have so far refused to give me any basis of calculation that justifies the amount of their offer.

So far, I have their first offer of $15000.  This happens to be very close to the amount that my account lost between 12/31/09 and 01/28/10 when the investments were finally sold.  On the surface, this might appear reasonable, which is what I believed they banked upon.  However, the market gained significantly from the beginning of the month until Jan 20th and if one takes the gain in the DOW as an estimate of what my specific investments were during that period, the account would have gained approx. $20, 000 up to the day the investments should have been sold.  I suspect it’s this reason they refuse to give me any sort of calculation to support their $15000 offer.

Frankly, I find it repugnant that MY BANK, who I entrusted to take good care of my investments, would so deliberately try to hide their mistake and, when that failed, unabashedly tries to screw me for less than what they owe.  ‘Fess up PNC Wealth Management!

So now I have another guy replacing miz trust management since apparently she was just filling in for him while on vaca.  He’s very unctuous as well but I keep hearing justifications for both their collective actions or their offers that just don’t hold water and the whole situation is really skieving me out about doing business with PNC at all.  They’ve been my main bank for as long as I can remember and all my businesses have accounts there…probably 6 or 7.

Now I’m even more pissed.  Moving accounts to a new bank is such a pain-in-the-ass.

Well, the latest new guy at PNC promises to get back to me Monday with a justification for the offer.  This should be interesting.  I’ll post the result when it happens, but don’t hold your breath.  He was supposed to get back to me last Thursday and only called me back on Friday after I called him.  Figures…just more of the same sleazy behavior.

As a last thought, why is it, if the bank makes an error in your favor like depositing too much in your account, that you can get accused of theft if you don’t report it.  But it doesn’t seem to work the other way around.

Tagged as: banker, mistake