MASSACHUSETTS -- I washed my hands of that bank almost a year ago after a couple of rotten things the corporate offices did. To be fair, people at the branches are really good but their hands are tied by the higher ups. I closed a personal checking and savings as well as a business account and business line of credit.
A couple of weeks ago I get a bill for $250 for the yearly few on the line of credit (btw, Rockland Trust and most local banks are just $100). So I dropped by a branch and explain it to the manager. He agrees that it's total BS and calls the corporate offices. The guy on the other end tells the manager that the customer (me) needs to pay it right away since its past due and won't do anything to resolve it.
Just a warning to anyone that deals with Sovereign bank or plans to, these guys don't give a flying you know what about customers
BOSTON, MASSACHUSETTS -- I thought Wells Fargo was the worst bank till I moved to Boston and switched to Sovereign. Since then many of my money transfers have taken more than a week to arrive AFTER the sending bank had said the sending process was complete. They're understaffed. I spoke to a manager who told me my money was available for withdrawal after I had already been denied a cashiers check. Upon arrival, I was told I hadn't received my money.
On an unrelated note, Sovereign banks are hard to find and close VERY early. To put it plainly, they suck. I signed up because they were on several lists for being "best for college students" but if they're assuming that college kids don't transfer money, or withdraw money from banks past 4 they're mistaken.
SALEM, NEW HAMPSHIRE -- Sovereign Bank is like a clown car of inept people. We arrived to close on an equity loan only to be told that they did not have a notary on site and we would have to travel to another town. Could they ... read full review1 Replies - Latest reply on 06/08/2013
I have been attempting to transfer money between accounts in Sovereign for an hour and *just* found out that they are doing system-wide maintenance. The bank did not deem it worthy to give any sort of notification about a maintenance that will take down their entire system, and their telephone banking actually says that the maintenance will not be starting for another 8 hours. On top of it, I was on the phone with their customer "service" for over 30 minutes before they would let me speak with a manager about this. The CS person I spoke with even threatened to hang up on me when I asked to speak with the manager right away. Seriously? I promise I will be shopping for a new bank *very* soon.1 Replies - Latest reply on 05/21/2012Add reply
I signed up at the bank for a Student checking account that includes a debit card.
6 Replies - Latest reply on 03/16/2012Add reply
I deposited my first check and was told my debit card would be here in 2-5 days. IT IS NOW SEPT. 14 and I have NO access to my money.
I called yesterday and she told me my card was sent out on the 8th. That is absolutely ridiculous.
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
Worst Bank Ever
This is officially the worst bank I have ever dealt with in my life. They will charge fees at any possible opportunity, even after details have been taken care of. Their customer service representatives ... read full review3 Replies - Latest reply on 11/19/2010
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
This company is out to make as much money of you as they can. I had a direct deposit pending and a check that I wrote. They appeared the same day in my account. Well I check the next day and I was charged a $35 overdraft fee because the check cleared before the direct deposit even though they appeared online at the same day. I call to talk to them about this issue and the woman had the nerve to ask me "Didn't you check your account before you wrote the check, and know that you didn't have enough?" I at that point was sick of their crap. I am switching banks. Sovereign is CRAP!4 Replies - Latest reply on 06/17/2010Add reply
Poor customer service
YORK, PENNSYLVANIA -- Sovereign has terrible customer service. We had IRA's, money market accounts and checking accounts worth $250,000 from an estate. My sister, also an exec also has her personal accounts there. They ... read full review
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