Woodforest Bank Complaint - New Business Owner Ripped Off By Their Bank...
ROWLETT, TEXAS -- New business owners beware of Woodforest Bank they are ripping me off for a total of $10,169.15. I started a new business account with this bank and made a first deposit of $10,169.15 in which I was told would be held for 11 business days to insure that they cleared, this was fine with me. Well, now that the 11 business days is over they have now told me that they will be holding my deposit for an additional 60 days because it is a new account. I have made numerous calls to varies people at the bank to try and understand how they have valid reason to do this, but no one can give me a reasonable answer.
With this being a new business it has definitely made it difficult to continue to operate due to over ten thousand dollars being held and unaccounted for. No one at the bank or corporate office seem to be doing anything to help me in this matter they all just tell me the decision has been made and that the funds won't be released until November 12,2008. How crazy is this that a bank can do this!!!! This may cause me to go under as a new business and it seems like I have no options to fight the bank in this matter. I assumed that my bank should and would stand behind me in building up my business NOT hurt me and possibly get me shut down. They had no problems taking my deposit but they have major problems funding my account well after they know the checks are good.
Consumers BEWARE of Woodforest they are NOT a good company to go with for your business or personal accounts!!!!!