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Final Update: Account restrictions have been lifted!!! Yay praise kek.
Think they finally got tired of me calling. Person I talked to this morning seemed more helpful, and the person he talked to in the back office agreed this was ridiculous. Apparently part of the hold up was that I attached the letter which required a further review process.
However I think something I said on the call might have made a difference as well. I read one line of the letter I received from Fidelity: To ensure compliance with regulation 31 CFR 1023.210, Fidelity may be required to restrict certain activities in your account and ultimately close your account, if we do not receive this information with 45 calendar days of the date of this letter.
I pointed out that THEY DID receive it within 45 calendar days, so what justification could they give to restrict my account? It doesn't say if they are too busy or can't be bothered to get to it that they will restrict my account... it SAYS if they haven't received it. He tried to kind of argue the point, well if you hadn't signed the form we would still have to restrict your account blah blah, and I said THATS NOT WHAT THE LETTER SAYS. Sure I understand you would have to contact the customer and say they didn't sign it and that you would have to restrict the account until they gave you valid info... but again the letter doesn't say anything about if you disagree with the info or if its invalid.. it says if you haven't received it... and in my case you did receive it!
So I don't know.. Maybe I just finally got someone helpful. Maybe I just annoyed them enough. Maybe it was my legalize in reading the letter.
FINALLY I CAN BUY STONK AGAIN!
Will be going TD Ameritrade or Schwab I think. Tough to give up an account I've had for 20 plus years, where I only had one other aggravating incident in that time. But this reeked of red flags and took a lot of effort to get them to finally deal with it and get my account unrestricted.
Small update: called this AM pre market hours spoke to someone new. Said let him talk to the dept he would give them a kick in the butt. Said they would prioritize my case first thing, I should have restrictions listed today and soon. Said he could se my letter dated may 7th but he doesn’t know when the department received it (interesting that active trader desk guys can see this letter). Said he would set an alert to call me immediately once restrictions listed, which contradicts what another employee told my yesterday that there was no way they could set an alert like this.
4 hours later... account still restricted. Haven’t heard a peep. I’m guessing they will take further actions against me, likely closing my account of 20 plus years. Will update if anything changes.
Yeah thats great and all well and good.
But what about the fact they sent a customer inquiry form that I returned in plenty of time, and they still restricted my account with the excuse of "oh we just didn't get to it". Is that acceptable to you for your money?
And the inquiry is how I made my wealth, well they don't have the income from the business I ran, but they have the majority of the rest of the information already. I'm telling them what they already know...
So sure the form is some mandatory bs, but again, is it acceptable that they just don't get around to it so my account is restricted? That is good business? Good customer service?
But, it’s not figured out at all.
Right now my account is restricted and I can not make trades.
They sent form said if they didn’t hear from me 45 days they might restrict account. I fill out form and send to them immediately. They still restrict account with excuse they haven’t gotten around to it??
If they can do it to me, they can do it to you! I don’t feel safe at all with my money there.
Well quickly more backstory is as I’m old creature of habit and was periodically writing check for 9k from Fidelity to my bank account to transfer money. And I briefly deposited a few in a short amount of time as I was considering a car purchase for cash. They wanted to know why and if I knew the IRS would flag deposits over 10k. So when the letter came weeks later it had a 31 CFR number which I looked up and indicated something with money laundering so I guess I was flagged.
The thing is, I filled out the form and returned in a timely manner with an additional letter providing extra information and bitching because they already have the majority of the answers in their records, things like death certificates, my stock gains, I had notified them when I made large transaction withdrawals and deposits due to real estate purchase and sale.
But the department that handles this just didn’t get to it?? So my account was automated restricted since they didn’t do it in time??? That was the excuse, and they were oh so helpful to expedite it for me so maybe in 48 hours I can trade again. Ridiculous bullshit.
Yeah dude. The number to call was given at Fidelity when I tried to place my trade this morning. Fidelity also returned my call with an update.
RUN!!! RUN FAR AWAY!
I don't want to get too detailed, so long story short, Fidelity sent me a "customer information update request" form that asked how I achieved my wealth, that stated this was a legal requirement and if I didn't fill it out within 45 days, I run the risk of having my account restricted or closed. I filled out the form with a "Strongly Worded Letter (trademark)" stating how obvious this should be as I'm a 20 year customer and they have most of the information they needed on file.
WELL... what do you think happened?? I login TODAY, THIS MORNING, to make a trade and MY FUCKING ACCOUNT IS RESTRICTED!?! So I called and bitched and first they said they didn't have my response, Oh but then they said they did but just didn't get around to it?? I explained how this is bad business do they typically restrict a customers account without notification even after they've responded to the request? So it's been "expedited" and maybe I'll have access again in 48 hours...
SO FUCK NO, Do not use Fidelity. I don't know what the fuck has happened over there but if they'll do it to me, they'll do it to anyone.
Also, in the last 18 months I have had issues with Visa, the IRS, and Fidelity. Do I feel targeted by Mr. Glowie FBI man? YES, yes I do. And Fuck You Mr FBI Glowie, you fucking traitor scum.
Honestly I just don’t remember. I feel like there was news that some other brokerages did. I use Fidelity, and I’m sure they did not. However they have pissed me off recently but that’s unrelated story.
Not sure what exactly you are asking for confirmation for?
Robinhood halted trading of GME (and several other stocks). If anyone still uses RH they are a complete fool.
Citadel owns more AMC shares than CLOV.
You are blatantly spreading misinformation about CLOV that the smallest amount of DD would reveal is false.
You are using a trading platform that fucked over traders during the GME run. A platform that will ban you from trading securities if they get too hot. You’ve had a long time to switch elsewhere and it’s not like it hard to do so.
I’d say fuck you but honestly you are doing a fine job of fucking yourself.
Should state too I made a nice 60% when I bailed.
Won’t lie. I bought in BIG last Friday and kept adding but I did bail when it was dropping, bailed at 19.50. I am back in today tho at the low 14s. As long as it finishes above 14 on the 18th (call options) should be good to go. Also added to Russell2k funds after that.
Truth be told I hate this company because of the Clinton connection. Of course they’ve added a former Trump advisor too. But regardless I like making money and this one definitely has a setup for a possible rocket.
Lol he trades on Robinhood. That’s where people are getting the 4 employees from. Can’t believe people still dumb enough to use RH.
Citadel owns more shares of AMC than CLOV.
That’s a pretty solid idea. A GameStop console has a nice ring to it.
And as much as Cramer is an idiot, I did like his idea of turning stores into crypto centers.
483 January 28th. Source Historical Data Daily Yahoo, scan “high” column.
If those banks are going to fail you better sell way before they do, otherwise you will be selling at a low. Granted it will be an extended low, Great Depression 2.0 cause certainly that will cause a run on the banks and probably the death of the dollar.
CPI tomorrow. Fed statement tomorrow, Fed Minutes on June15-16. Should provide clues.
So if I buy it on coinbase I don’t own it?
I don’t know if I ever “owned” it or not, but I’m glad I got out at 60k and made real US dollars that are now in my bank account. 38k was first my rebuy point, but feels like catching a falling knife to buy it right now
Hoping all of these get a merger rumor bump and then out at 11. And that is doesn’t take too long. Seems like my biggest risk is time.
Is that even possible tho?
Not that I want to wait around 2 years to get back to 10. But if they don’t merge then they dissolve and share price should end up near 10 (minus expenses), yes? Or am I missing something?
Hello, since you seem to know some shit about SPACs, I was wondering if you could answer a question for me. I posted this new topic.
Basically I just want to know what is the ultimate risk on a SPAC if the market collapses. Is it pretty much safe to say you will get 10/share back if they don't merge, or is there a larger risk that I am missing (beyond straight fraud by SPAC creators)?