MASSACHUSETTS -- My mother is in the hospital with chronic emphysema and pneumonia. As if this isn't bad enough, her husband abandoned her and left her with all of the bills. As part of the divorce process my mother needs to provide copies of her bank statements. I contacted her neighborhood Sovereign Bank in MA to order the statements expecting a nominal fee to cover a few minutes of an employee's time, some paper, and postage. They told me that it would cost $112 for a reprint of her monthly bank statements (11/07-7/08). This represents 10% of my mother's monthly income - just to print copies. Let's see... hit the print button, fold the paper, stuff the envelop, ... charge the customer $112. Once again, I expected a nominal fee but $112 is outrageous. I spoke with 2 people and all they would say is, "I'm sorry, it's our policy." Don't believe the tag line, "We're your neighborhood bank." They're heartless...
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Threaten to cancel my account
Posted by on 12/02/2001
LANCASTER, PENNSYLVANIA -- I have several accounts with Sovereign. Other family members also deal with this bank. Recently they started to send me letters in the mail threatening to close my accounts with them. They say that I can't make more than six (6) electronic withdraws or transfers within a billing cycle. I was told that it is a GOVT REGULATION. I have had my accounts with this bank for over 5 years, and always made more than 6 withdraws in any given month. I have talked to other people banking with other financial institutions and they say they have never heard of anything so stupid. My question is does Sovereign operate under their own rules. What does it matter. If I have the money in Savings and want to make 1 or 100 withdraws a month.
I would like this resolved so that I can go back to the way it was before they started this procedure.