Sovereign Bank unethical inactivity fee
NORTH ANDOVER, MASSACHUSETTS -- I opened a small business account at Sovereign Bank in 2009. The bank representative assured me that there will be no fees or charges on my account. I deposited $240 and waited for my debit card to deposit ... read full review2 Replies - Latest reply on 08/09/2011
CHESTNUT HILL, MASSACHUSETTS -- Even though this branch is located in affluent chestnut hill; the staff at this bank is very unsophisticated and rude. I would not recommend dealing with them on banking or business matters-- they caused a lot of problems with bad loans in the economic/banking crisis. They seem to not care about people's needs and have limited work histories and no depth of knowledge. Staff is very rude and unwilling to correct mistakes that they make.1 Replies - Latest reply on 08/08/2011Add reply
I have been with Sovereign Bank for over 7 years and one thing that has not changed is the way they charge fees for everything. Finally, I had enough! They just charged me $35.00 overdraft fee for. 69 cents. Keep in mind I have $200 in another account through the same bank. I signed up for overdraft protection and this still happen! I have other accounts with different banks and I never have a problem but Sovereign Bank has always given me a headache. Use this bank if you don't like your hard earned money. 1 Replies - Latest reply on 07/20/2011Add reply
Long story short: I get an Email from McAfee saying they successfully renewed my subscription for $90. But here's the catch, the last CC info I gave them was for an old VISA Check Card before Sovereign switched to Master Card, a card which is no longer valid.
2 Replies - Latest reply on 07/02/2011Add reply
So how did they successfully charge me? Well, apparently they got my new card info from Sovereign Bank! WTF?! I opted out of overdraft protection, and I know that account had less than $2 in it. So what does that mean? You guessed it. Overdraft Fees!
So now the account is in the negative while McAfee takes 5-10 business days to refund my money. Think Sovereign will refund the $35 overdraft fee too? Yeah, right. What a freakin scam.
HAGERSTOWN, MARYLAND -- I have banked with Sovereign for 10 years and am now at the end of my rope. Thursday I checked my balance and saw I was in the negative from my mortgage withdraw. I had no other money to take care of this. I was able to do some work for a friend and sell my hunting rifle at the pawn shop to get the $285. This would bring me out of the negative with some to spare. Deposited cash at 6:30 pm which is supposed to be in my account immediately. My receipt said +$17.55. Well I got up this morning and am $480 in the negative. Called customer service and was told that I deposited the money to late and there is nothing they will do. I will be closing my account as soon as it is out of the negative. Sovereign bank is run by professional bandits, they will charge you any chance they get. If you like your money you will take your business elsewhere. 2 Replies - Latest reply on 01/15/2011Add reply
They Are Thieves
I'm a Sovereign customer for 2 years. I had everything well in my account for 2 years. Until one day I had a fee problem. They charge me $35 dollars for each payment I did I that day. So, the total was ... read full review5 Replies - Latest reply on 07/30/2010
I needed to move a payment just 3 days and they refused. I offered to make two payments if the moved the date three days bu they would not do it. So there for they will only get one payment 1 Replies - Latest reply on 05/17/2010Add reply
STATE COLLEGE, PENNSYLVANIA -- My son transferred money from savings and deposited a check into his checking account. He did not understand why it was never posted into his checking account. When he got to the bank between his finals he was informed that his bank account went below 0. ATM's never showed that. The bank charged $35.00 for every transaction he did as well as $5 for every day he was overdrawn. Buying a box of cereal in fees cost $44.00. He was not notified by this bank that he was overdrawn over the course of a month. They swiped in total over $600.00 dollars. This location is in Pennsylvania. Horrible bank, steer clear for your own good.3 Replies - Latest reply on 05/07/2010Add reply
I have been banking here for the last 25 years and I have yet to incur an overdraft fee. You know why, cause I balance my check book, I have overdraft protection, I read the account disclosures and know when my funds are available, I know everyone at my local branch and they know me.
2 Replies - Latest reply on 01/18/2010Add reply
They are very customer service oriented and ask for my business. They suggest products to me which are very helpful.
COLONIA, NEW JERSEY -- About a year ago, I opened a no fee, low balance required checking account at Sovereign Bank.
4 Replies - Latest reply on 01/18/2010Add reply
Recently I discovered my account has been debited $12 every month for a so-called inactivity fee. How low can a banking institution possibly go?? If the bank was dissatisfied with my non-usage of my checking account, should they have not closed it and return the balance?? This is paramount to outright thievery! Let the depositor beware!
PENNSYLVANIA -- Sovereign is the worst bank ever. Do not lend them money so they can screw you. You think you can keep your finances straight and not incur any service charges?! Think again! No matter how careful you're, they'll find a way/mistake to get money out of your account. Over-drafting, debt card fee, inactive fee, over active fee. You name it. This bank gives the term "bank robbery" a whole new meaning.
1 Replies - Latest reply on 05/25/2009Add reply
And what kind of service do they offer any way? Their customer reps are rude and ill informed, often giving me wrong information. Once I spoke to a representative who loudly yawned on the phone.
Do Not Use This Bank
MASSACHUSETTS -- I opened an account with Sovereign a couple of years ago, the first issue I had with them is I had an automatic payment come out before it was supposed to and it put me into overdraft by 3 or 4 dollars. ... read full review3 Replies - Latest reply on 03/04/2009
Everything They Suck
19607, PENNSYLVANIA -- #1--I have a mortgage with them I gave half my mortgage payment and then in 2 weeks gave the other half well they would not accept the first half as towards my payment they applied it towards my principal ... read full review5 Replies - Latest reply on 12/31/2008
METUCHEN, NEW JERSEY -- Sovereign Bank gives an overdraft for everything and refuse to reimburse you even if it's not your fault. I had made a purchase over the internet and the company had triple charged me. I had asked the bank if they can at least take the overdraft charges off my account while I wait for the reimbursement from the company that triple charged me and Sovereign said no. Even though they saw the company had triple charged me they refused to reimburse me for the 3 overdraft fees. They are thieves and they need to be closed down. Makes you want keep your money stuffed underneath your mattress away from banks.
7 Replies - Latest reply on 12/02/2008Add reply
Please do yourselves a favor and if you even think of opening an account with them, don't do it.