Peoples is going down hill fast.
I had been banking with them since 2000.
I closed my accounts this past December and am very glad I did. I joined a credit union. Now the majority of the services I paid a fee for are free.
Their last group of account term changes was the last straw.
They jacked up all their fees and added a few new ones that even the CS person I called couldn't tell me anything about.
They lost the backup tape that contained my personal information a couple years ago when the company re-organized. It was not the first time they were lax in their security measures.
They installed a drive up ATM in a shopping plaze nearby. It is very convinient but the P.O.S. rarely functions.
They replaced the branch ATMs with a couple of old worn machines that look like they were found in the back corner of their basement in Bridgeport.
They changed their web account access to remove the Available Balance field and now only show Balance. Very mis-leading.
Now I read in the news that their latest computer update hasn't been going so well for Connecticut customers.
The only positive is their customer service. Having had to speak to them far too many times, they have obviously a lot of experience dealing with these issues.
People's United Bank!
If you want to open an account with the worst bank ever, look no further! Unnecessary fees, unstable online banking are just a few problems with this bank. Funds are there one day and gone the next.
Heed my warning and avoid this bank at all costs. They will bleed you dry of all your money. Please, do not make a mistake and open an account with them.
My husband and I have been customers at Peoples for fifteen years. Just the other day we received notice that the bank was closing 2 accounts (one very active checking, one less active savings). No specific reasons were given other than a general "we're not making enough money off you" tone. We have never received any notice about insufficient activity, nor were we offered a substitute service to try and keep our business. Nothing. Just a "You're out in three weeks. Find another bank"
When I went to the local branch this morning (where the tellers know me and were very upset) they couldn't get any answers from corporate. So, I closed our 4 savings accounts (one joint, the others for our three kids). Once we have another bank lined up we close our personal and business checking accounts. We will close our safety deposit box. We will never, ever consider them for a mortgage, home equity line or any other banking service. I serve on two non profit boards and will make sure they are never considered as a banking option. My children - who we are trying to teach life lessons about money and banking - will never use them either. I used to be a big fan but now have nothing positive to say about them whatsoever.
In a highly competitive business such as banking, where everyone is tripping over themselves to get customers, this isn't how you treat the customers you have. Banking is a service industry that is built on customer relations. Customers are entrusting banks with their money. How can you trust a bank that treats customers like that?