Posted by
Matrix1438
16 yrs ago
2 weeks ago I asked the bank to transfer my stocks to my new broker and they said it will be done in 14 days. Just wondering co'z my new broker told me that it takes 1-2 days only, thinking maybe that is the bank procedure. After a few days when market goes up and down I'm planning to sell some of my shares but the bank told me that I cannot sell anything and need to wait to finish the processing.
After 10 days I called up their main office to follow up and found out that the processing time is only 2-3 days and said that it is a mistakes of their branch staff.
I made a complaint through telephone from their main office and later receive a call from their branch manager and asking for my apology and she promised to expedite the processing and that's all. I told her that I did'nt get any profit from my stocks and the worse is I lose some money.
Is there any way to get some compensation on this? or just leave it like that and accept what happened? Appreciate your advise. Thanks
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My guess is that without a detailed trace of the order (stock, quantity and price) it will be difficult to claim any compensation.
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Hi there, Is there anyone can give more advise on this. It seems the bank does'nt care about this matter and always promise to study first. BTW, Today, they asked me to go to their branch to settle everything and found out that their going to offer a movie tickets for two worth less than 2 hundred dollars. Of course I disagree.
Appreciate your comments on this. Thanks
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Do you have any proof of the order (email.. phone call record..) stating exactly what you wanted to do?
If not you won t be able to do anything, if not anyone would be calling 2 weeks later when the market dropped, saying their web access was down and they couldn't sell 10 Mios USD of shares.
Telling them you plan to sell some shares, and actually giving them instructions and not being executed is something else.
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Write a formal letter of complaint with the HKMA, give a copy to your bank's branch.
HKMA will come back to you with a suggestion to talk things over with the bank and try to resolve it. Then get back to HKMA with another letter that details all the steps that you've done. This way at least you've got a higher authority with you that the bank cannot just ignore. You'll never know what the result will be, but this is a route you can take.
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thanks punter will do that. Anyway, Bank promised to do something in the next few days....Will wait for their reply first before make a complaint with the HKMA.
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ranny
15 yrs ago
i should reread my copy of banks policy and procedures....
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