US Bank Informative - Unfairly holding insurance funds for my home repair
COLUMBUS, OHIO -- I had a house fire in January. The insurance company made the check payable to me and US Bank. They required me to jump through hoops and took the $66,000 to hold. Before they would release the first draft payment to the contractor they required several documents. I took all the required paperwork and the check to a US Bank in Columbus. This branch over-nighted the check to the office in Kentucky that handles insurance claims.
Three weeks after providing them all required paperwork for the first draft, NO MONEY was sent to the contactor to order materials. It took five days of complaining to get the first draft mailed to the contractor.
Now I know their games. So for Draft #2, I faxed the required paperwork and requested the required "visual inspection" before they would release the second draft for the contract. Guess what? No response. Two days later I sent the required paperwork and request again, still no response.
These people are holding thousands of dollars of MY MONEY to repair MY HOUSE. Every day they hold MY MONEY is another day I cannot live in MY HOUSE.
In 7 1/2 years I have NEVER been late paying my house payment. I am a good customer being treated as if I did not exist. All the while, they hold thousands of dollars that is not theirs.
DEALING WITH US BANK IS THE WORST EXPERIENCE I HAVE EVER HAD WITH ANY INSTITUTION,FINANCIAL OR OTHERWISE.
Once my home is repaired I will be refinancing my home loan. I will never have another thing to do with US Bank.