• Report: #1730

Complaint Review: Swiss American Bank

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  • Submitted: Tue, March 28, 2000
  • Updated: Tue, March 28, 2000

  • Reported By:Wexford PA
Swiss American Bank
GT 2249 Blue Hill Road, Bias Street #4, Nationwide U.S.A.

Timeshare Resort Property Sales

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If you want to sell your resort timeshare property beware of a company called Swiss American Bank!! They will contact you asking if you want to sell your timeshare property. They say they are an Investment Bank and that they are interested in buying your timeshare property. They tell you they will need an appraisal of your property and some other information (deed, asking price, price you paid etc.) They give you the name of "recommended" appraisers and tell you you can use one of those or one of your own. They ask you to use the cheapest one because they will reimburse you for the cost of the appraisal ($399.00). Once you get the appraisal you are asked to send it to them along with all the other stuff they asked for and that they will call with an offer when they recieve all the information. The only thing is, you never hear from them again. I have called and I can only get a recorded message and voice mail box which is eiter full or no one calls you back if you are able to leave a message. I have left many phone messages in all departments of the so called company, not just the timeshare sales,and I have left messages at their e-mail address. I never heard from them again. Also the address they gave me on their initial cancact is now different from the one they have posted on the internet. I have been in touch with other people who have been ripped off by Swiss American Bank also. Basically the scam is the money you pay for the appraisal is theirs, if you use one of the "recommended" appraisal companies. I have learned that an appraisal is not necessary in the sale of timeshare property. I have had two other calls using the same scam. I tell them that I have already been scammed by Swiss American Bank and they hang up on me. Swiss American Bank E-mail address is swissamer.com Please help me get my money back!!!

This report was posted on Ripoff Report on 03/28/2000 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Swiss-American-Bank/nationwide/Timeshare-Resort-Property-Sales-1730. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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