The bank utilizes a process that is patently unfair to the consumer. When a hold is placed on your card (not the actual payment transfer) they deduct overdraft fees in anticipation of an overdraft. They also will stack all of the deductions before any deposits.
This has occurred repeatedly with an automated transfer from one account to another ... while I have the deposit set as a recurring item ( one would expect that is hits my balance at midnight) they process at 9.30 in the morning after all the pending debits , causing overdrafts.
They have refused to credit all of the overdraft charges that cascade and snowball.
I refuse to deal any longer with thieves.
Unfortunately, I have a mortgage with Flagstar and I recently filed an insurance claim due to storm damage. Flagstar has a process that is so convoluted that I had to record the automated instructions that are given on the phone. You cannot get a real person from the claims dept. on the phone. You can request a callback but the recording says it will be up to 72 hours before they call you back. Then, when they call back, if you are not able to answer, you have to go through the process all over again. They required a notarized affadavit, the check from the insurance company that they are supposed to co-endorse, the contractor's license and insurance certificate, a copy of the contract with the contractor, a check for $33.50 for an inspection. All that, and more, and the claim was under $10,000! When I finally got someone on the phone--I had to get a person in another dept. to contact the claims dept and I refused to get off the line until a live person from the claims dept. came on the phone. She said if the claim had been over $10,000, Flagstar would only send 1/2 until proof of the work was established. My insurance agent--and this is a well-known naitonal company--had never heard of the affadavit. I had to obtain that from Flagstar, sign and notarize it, scan it and e-mail it back. I asked the Flagstar claims specialist to email me back when she received the document. I have yet to hear from her.
This process isn't over, but clearly Flagstar is not interested in customer service. If my post stops one person from doing business with Flagstar, it will be worth the time it took for me to write this.
Computer keeps calling my home telling me to call about a outstanding loan.I finally get a human when I call back , I inform them I do not have a loan with them and please stop calling me,they say they can only pull my account up by my account #. I do not have an account # so they can not stop the computer from calling my house.I finally get someone to transfer me to someone else who hangs up on me because I will not give them my account #. I callback again and have a some one who says they are a supervisor and they are sorry and will take care of it. I still get phone calls, I see no other action but to contact an attorney,I wonder how far he will get without an account # unbelievable.