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Theft of Savings Investment
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DO NOT GIVE THESE PEOPLE YOUR MONEY!!! I am currently working in China and had a few thousand dollars to invest in a safe, accessible venue. I found the High Interest Savings Account online and decided to invest 12,000 dollars. This account was supposed to pay a premium rate as long as I kept at least 10 thousand in the account. I was also supposed to be able to transfer funds between approved accounts. I found that I can transfer money into the account no problem but when I try to transfer funds out of the account it gives me a vague error message.

I called the customer support line two weeks ago and their reply was "we have passed this onto our IT department and we will get back to you." I'm not a computer guy but two weeks seems like enough time to figure out a computer error. I decided to close the account but the only way to do this is to TRANSFER FUNDS OUT (which is my original problem). Do not believe ** when she tells you she will take care of anything. I am looking into the possibility of filing criminal charges because they basically stole my money.

Late Posting of Deposits
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BALTIMORE, MARYLAND -- Below is an excerpt from a letter to the Chairman of Wilmington Trust FSB (WT Direct is their online banking arm). I am sure they are doing this to everyone, not just us. As a result they are possibly avoiding paying interest for 3-5 days on every deposit they receive. This is a consumer rip-off and a huge money maker for them.

We are writing to you at the suggestion of the Office of Thrift Superverision, Department of the Treasury, as a prelude to filing a complaint regarding banking practices involving WT Direct, the direct banking arm of Wilmington Trust. Our complaint is that WT Direct did not post funds received to our savings account in a timely fashion in order to avoid paying interest on those funds. Two specific examples are listed below:

Date Requested Date ACH processed Date posted to account Amount
3/13/08 03/14/08 3/19/08 100.00
3/14/08 3/17/08 3/20/08 6000.00

We should have been paid interest for the entire time WT Direct had possession of our funds. I can't imagine walking in to a bank with a savings deposit and being told interest would not be paid for the next 3 to 5 days. Yet that is exactly what WT Direct is doing. We should be paid interest for the entire time WT Direct had possession of our funds. If you are a WT Direct or Wilmington Trust customer and wish to complain about this policy you can call them at 800-523-2378 or 877-982-5483.

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Wilmington Trust Rating:
2 reviews & complaints.
Contact Information:
Wilmington Trust
1100 North Market Street
Wilmington, DE 19890
1-800-724-2440 (ph)
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