AllianceOne Recievables Management Bank Account Or Service Complaint

AllianceOne Recievables Management Bank account or service department,

Other bank product/service Making/receiving payments, sending money Oregon

Received a notice dated -/-/- from - - and - - that they were transitioning customer service to a third party, Alliance-One effective -/-/-, and customers would not be able to receive any information from - ( their transition " blackout '' period ). They issued a check during this blackout period which we received too late to contact them as they disconnected their customer service phone lines and are referring all questions to Alliance-One. This check is unusual, because the annual distribution for this annuity is usually made in - ( - was received in - - ). Alliance-One has inadequate phone support available ( was on hold for 30 minutes on - call and over 25 minutes on a second call ), no online customer service available, and refuses to answer questions until next week, saying they sent out a notice regarding their " blackout '' period ( supposedly -/-/- - -/-/- ). We never received any such letter. - has a track record of issuing payments to us without being requested. They are trying to get rid of their annuity contracts or reduce their value because the minimum interest rate promised is too high in today 's environment. They know the holders of most of their annuity contracts are elderly and are less likely to challenge or question distributions made.