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The Fees Game
By -

On Friday I had a total of $1,750 available in my account. On Saturday I used $1,570. That leave $180 left over. On Sunday I deposited through their ATM CASH (Key Word Here) for $1,100. On Sunday night I checked my account online and it showed a $1,000 ATM Withdraw! On Monday I had $880 on online payments going out.

Monday morning I stopped by the bank to see what the $1,000 ATM withdraw was all about. The representative looked up my account and did not see this transaction. I showed him a copy of the online statement and he said that you can not withdraw $1,000 from an ATM at one time. I told him I could not use my ATM since it rejected a withdraw and said I had a negative balance. Again he went through all the transactions and could not find it. He stated my account was fine and that I had money available and to fill out a withdrawal slip and he would get me the money, which I did.

On Tuesday my account had been billed 9 Unavailable Funds Fees and 4 Overdraft fees. Again I stopped at the bank and another representative looked up my account. He could not explain why these fees were posted and stated he would talk to the division supervisor and would call me back with an answer. He later called back and said the supervisor would not remove the fees because the $1,000 was on hold (like a check). I sent an email to customer service and this is what they sent back to me...

"Thank you for your recent email. Funds from cash deposits made at ATMs that we own or operate ("Sovereign Bank ATMs") prior to the cutoff time of 3 p.m, will be available on the next business day after the day of deposit for withdrawal. However, the cash deposit is available to pay debts on the account on the business day we receive the deposit."

What they had done is withdrew the entire $1,000 and held it until Tuesday and manually redeposited it into the account. So, I guess the statement "However, the cash deposit is available to pay debts on the account on the business day we receive the deposit." only applies when they want it to. Either that or their great banking system software is flawed and can not distinguish between cash withdraws and paying bills so they just took it all out!

Hmmm, makes you wonder how many other people they have done this to. Thank "Higher Power" that I made copies of all this now you see it now you don't transactions. Needless to say, I have filed a complaint with the Better Business Bureau and the Banking Commission. I will not let this matter rest!

Shocking Event Some Years Back I Can't Get Over
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PHILADELPHIA, PENNSYLVANIA -- This happened some years back. OMG. It was horrible. First the clerk yelps at me about not having a credit card. Then I get helped by a DIFFERENT bank clerk, who opens a checking account for me. I tell her I want to deposit money, the clerk tells me to deposit it at the ATM. Of course no one helped me with the deposit, I even asked customers behind me to help me and this is New England man they don't even look at me (a bunch of foreigners).

OK, so obviously I wasn't used to depositing money through the ATM. There were no envelopes at the machine and I deposited all my money in to the machine. I went in to the clerk and explained what I did, because I wasn't really sure if I had done it right. And RIGHT! I did it wrong! They leaped to the machine and picked up my money. Thank God! Then I noticed that I lost $200 on that machine and of course when I asked for it, they claimed it wasn't their problem.

A month or so after I go back to the bank for something and give the clerk my information. They had the wrong social security number!!! How the hell is that possible, y'know? When they tried my social security number, it showed I was on Checksystems. Which Checksystems denied and I had proof. The female clerk started screaming and yelping and she was acting as if I was physically attacking her when in fact I was waiting for input about my checking account. She literally screamed throughout the bank for SECURITY!!! AAAHHH!!! And I was promptly escorted out of the bank.

Facts are facts, that's it. I lost $ 200 and I was completely treated in a racist manner by people who should not be speaking English if you ask me. This was in Philadelphia, Pennsylvania, United States of America. If I had known about Better Business Bureau and the like, I would have yelped racism from here to Tokyo. There you have it. I hate Philadelphia, I was out big time.

Do Not Use This Bank
By -

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. They charged me $25 overdraft fee, OK my fault no big deal I expect that to happen, what I didn't expect was that they continued to charge me $5 a day for the next two weeks until my next deposit went in. So my $3 over draft cost me around $75.

The latest thing is I had an issue with a person I do work for and there was a dispute over how much they had paid me, I use electronic banking for everything so I went online and found sovereign only goes back a few weeks. So I saw a place to request your history, the site in their defense did say the cost was $6 per statement, I mistakenly assumed that meant if I requested my checking deposits for the year and my savings deposits for the year that it would cost $12. It never in a million years occurred to me that they would charge me $144 to print my account records. One would think that would be a fairly simple request.

I'm done with them. Every time I turn around they are hitting me with another charge. To top things off I emailed customer support about the outrageous charges and they sent me back a form email explaining to me that I could get my bank statements by paying $6 and they would be happy to help me request them if I called. I'm closing my accounts and I'm making it my mission to post anywhere and everywhere I can to warn others about this bank.

Harassment From Bank Tellers
By -

I have a business checking account with this bank. For over a year four particular bank tellers have harassed me every single time I walk into this one branch here in town. They either try to sell me a line of credit or a personal checking account. During any given incident I will say no continuously but they continue talking. Each and every time I walk in the same people give me the same offers. I have repeatedly asked them to stop but the offers just keep coming. I do not notice them doing this to customers in line in front of me and I have not experienced excessive offers beyond what's typical from banks I've used in the past.

Bank tellers earn commissions from upselling and are often held to sales quotas, usually on a quarterly basis. As a business owner myself I understand this completely. Even I try to upsell to my customers but I would never harass them or engage in the practice of predatory sales techniques.

One teller was pitching me a personal checking account and another teller actually interrupted and told me she was offended because she had tried to make the same offer first. There was also a time when I flat out ignored an offer for a line of credit and looked away from the teller. I was met with a rude "Hello?" comment. This came after I have told this one individual to stop making offers countless times.

If you have a complaint about Sovereign bank, you should do the following as I have done: Send a letter to: Sovereign Bank ATTN: Executive Complaints 1130 Berkshire Boulevard Wyomissing, PA 19610. Then, go to and use the pulldown menu that says "I am..." to select "Consumer." Then click the link that says "File a Complaint." After that do some Googling or make a phone call to find out the website for your state's department of banking. File a complaint with them as well.

If you feel you have incurred enough monetary damages to constitute a lawsuit (related to their excessive overdraft fees which is not my case but I have read complaints about that), contact a lawyer to see if you have a legitimate case for litigation.

Customer Service is TERRIBLE
StarEmpty StarEmpty StarEmpty StarEmpty StarBy -
Rating: 1/51

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.

Sovereign Bank Unethical Inactivity Fee
By -

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 more. After two weeks of not receiving the card, I contacted Sovereign Bank to send me a new card. I haven't received the new card since, and couldn't deposit my checks through ATM.

Recently, I received a letter from Sovereign Bank that they charged $160 inactivity fee from my account. I visited the bank and explained the situation and told them they don't have a right to charge me without notice. The manager told me that I have agreed and signed to pay the inactive fees, however, I look into the issue more and found out that this new regulation of $16/month inactivity fee started in October 2010. Therefore, I definitely haven't signed such an agreement and they definitely haven't send me any notice. They unfairly, unethically and even without a notice, charged me $160 from my account.

Professional Bandits
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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 too 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.

They Are Thieves
By -

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 $280. I didn't knew that I had insufficient money, and only in that day they rob me almost $300 and the payments I did were $100. I tried to fix with my branch manager and nothing. Call the customer service, that is horrible. She just looked to my account and said that everything was legal and they couldn't help me.

Then I talked to the customer service manager who told me nothing could be done. And I told her, I was going to close my account and all my family because it wasn't anymore a money issue, it was about a "robot" bank that forgot that they have people behind that accounts. My money market had money and I had a clean record. So, if that don't mean nothing I don't want a bank like that. Don't open an account. They are thieves and people that only see money. They don't care about their customer.

Sovereign Sucks
By -

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!

“They Charged $70 to Use the Branch ATM and a for a Slice of Pizza”
By -

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.

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Sovereign Bank Checking Accounts Rating:
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1.0 out of 5, based on 1 ratings and
18 reviews & complaints.
Contact Information:
Sovereign Bank
75 State Street, 5th Floor
Boston, MA 02109
877-768-2265 (ph)
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