Guys-
I just called WSEX as I was told to do if I did not receive my funds today. Now I am being told that my check must have been lost in the mail ,(Ever heard that one before?), and they would Fed Ex another check to me written on a Canadian bank that could take up to 3 weeks to clear. I have called 4 times and sent 2 e-mails - one of which was not answered - and finally they tell me that my check was actually mailed a month ago. After asking the Rep a few more questions and getting evasive answers I had finally had enough. I TOLD THEM TO KEEP THE MONEY and hung up!
Beyond the fact that I have been waiting 50 days for a $1000 check (regular mail), there are some other issues with WSEX that I find disconcerting They did respond to my thread and defended their slow paying by "misremembering" their disclaimer on the WSEX website. It states "Due to the high volume of draft requests, accompanied and brought on by the loss of alternative money transfer methods, there may be some delays in processing your withdrawal".
They further state "Regular mail may take up to 20 business days for delivery. Courier may require 4-7 business days".
In their post, WSEX says "Our website says 20 days for regular mail but also adds a disclaimer that says due to the high volume of withdrawals it could take a little longer". This might be nitpicking on my part but I get the distinct impression that omitting "Up to 20 Days" and adding "it could take a little longer" was a deliberate attempt to mislead.
Incredibly the WSEX spokesperson says "There are three people here out of thousands who are complaining because their regular mail checks have taken more than the 20 business days".
They fail to address the fact that many customers are using transfers to other books to avoid slow paying. My guess is that it is only a matter of time before they make the outgoing transfer fees so onerous as to be prohibitive. The books receiving the funds are going to get tired of being used as conduits for people wishing to withdraw funds from WSEX and they will probably seriously increase their rollover requirements.
It is not a pretty picture with March Madness just around the corner. My business is headed straigt to the Greek, Bet Jamaica and 5 Dimes. If WSEX cannot pay in a timely fashion after the Super Bowl, is there any reason to think that this oversight will be corrected after the high volume of March Madness?