Sovereign Bank Complaint - “They charged $70 to use the Branch ATM and a for a slice of pizza”
We have been with Sovereign since 2005, and it has been uneventful either positively or negatively. I have never personally or professionally written a bad check (still haven't), but my wife went to the branch ATM just before payday and withdrew $80. We did not have the money in the account, and Sovereign gave it to her, and made sure we had even less by tacking a $35 charge on. The same day, my wife spent $8.03 at Nick's Pizza and got the same $35 charge; $43 pizza must have been delicious.
I completely acknowledge that I am responsible for keeping a running balance on my account, but I am looking for a banking partner, not someone to frag me in the back when I do not pay attention. I do not know if I can stay a customer at Sovereign. I hope their customer conversion costs are less than the $70 they made from this fiasco because I think it is time for a new bank.
Next time, if it ever comes to that, my wife can go hungry for the afternoon. It is not the amount, but the principle. Does anyone now actually wonder how there was a banking crisis? Banks need to learn to say NO, even if it will short them hefty fees.