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.
Years ago my wife and i happily moved our bank accounts from bank of america to back of western massachusetts. We loved bwm! Over time bwm was purchased by chittenden then finally peoples united. With each merger are customer experience got worse. I can honestly say that people's united bank may actually be worse than boa ever was. Here is my list of complaints:
1) PU is progressively taking longer to clear checks-now often more than one day.
2) PU now counts all deposits made on saturday morning as being made the following monday. So if you deposit a check on saturday don't expect those funds to be available monday as they once were. There is thus no reason to bother making saturday morning deposits anymore.
3) we had recently attempted to refinance our home through pu and was given a loan offer with a laughably high amount for closing costs. We took that business elsewhere!
4) my daughter had a savings/checking account that went into a negative balance for a few weeks. I went to the local branch to deposit money into it but the account had been closed and could not be reopened without a fee. Td bank therefore got new 18 y/o customer as a result!
5) most important. PU installed check reader machines two years ago that really do not work. Business deposits now entail watching the teller sift through those checks not accurately read by their faulty machines, (at least 10% of them). The time involved in making deposits has increased four fold. The bank staff are oddly unapologetic about this problem as i suppose these machines have made their jobs easier?
6) as PU has become a worsening customer experience the fake friendliness from the branch staff has increased!
People's is full of fees! This is the stuff people's doesn't want you to know.... I have a personal checking with automatic direct deposit because if you don't have automatic direct deposit it is another fee! I also have a business checking account. The personal checking gets about 20 dollars a month in fees (due to nyce bill payments such as my verizon phone bill, paypal, and geico auto insurance payments) i pay a fee of 2. 95 every transaction for the "luxury" paying my bills! These fees add up like crazy because merchants don't want to get charged a credit card fee so they run it as an instant debit transaction and that means people's is going to charge you, the consumer!
And some companies can use your bank card as a debit card and not even ask for your pin # so you never even know... And yep, people's charges you a fee. People's says it's not their problem and they have been very unhelpful. They blame it all on the merchant. But people's is the one with the stupid hidden fee! People's corporate number tells you to talk to your local branch, branch tells you to call corporate, it's a huge run around. And they answer your questions in strategically worded ways to not give you the answer that you were really looking for, but to deceive you so they can keep their fees adding up.
Plus.... I just found out today a new policy i never even had to sign for states my business account must maintain over 1,000 dollars or else they take out 7. 95 a month. I never even saw this in their disclosure they claim they sent, but i signed out of paperless billing to avoid more fees. They don't care. Banks are screwing the little people left and right nowadays, it is so sad. The bank is no longer your friend like in that christmas movie, it's a wonderful life. We've lost all sense of community and common good and truthfulness and honesty. Everyone is out for themselves and people's can get right in line with everything else that's gone downhill in this greed-based society.