MyBankTracker rated Peoples United Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
I had a bill pay that I accidently set to the wrong checking account with caused an overdraft. After my balance went negative, the ATM card still allowed me to withdraw and use debits causing fees of $204 to accumulate. This due to their so called overdraft "protection" which charges you $34 PER INCIDENT. The idea being that this "service" ensures you have continued use of your card even if you don't have the money. What good is this so-called "protection" when it puts you further in the hole anyway?
Online customer service told me there was nothing I could do about it but the local branch manager understood and reversed the fees. However, when I inquired about opting out, which will be mandated by law in June, I was told I could not and they wanted to upsell me on a line of credit instead. I am COMPLETELY disgusted by this and I'm taking my money to Chase which allows you to opt out right off the bat.
Also, their online banking is PATHETIC. I can't even believe this is a bank operating in the 21st century. Horrible interface, poor alert system, and the online customer service is extremely rude and unhelpful. I'll be very surprised if this bank lasts another 10 years with its poor customer service.
I have been treasurer of our association for 10+ years. All of a sudden I could no longer log in and pay bills. When I called Customer Service, they told me I wasn't authorized. I explained I had been treasurer for 10+ years, had signed the signature cards, and more importantly had no problems until today. Not only did they refuse to tell me who was authorized (I imagine it's the previous treasurer, who retired, moved away and hopefully is living a peaceful life in his 90s somewhere), but they blamed it on Chittenden bank not doing the correct standards. So let me get this straight -- I've been writing checks, doing on-line payments, etc. for 10+ years, but now you tell me I'm not authorized and it's the fault of the bank you took over in 2010. If Chittenden was so lax, why didn't you notify me before now? What makes it particularly frustrating is that I have to go into the local branch where "they will know what to do because it's happened before." Happened before? And you haven't addressed it or at minimum emailed all your customers recommending they check? I had wanted to work on this account this weekend (it's not a job, it's a volunteer job for our homeowners association), but now with the holiday I'm out of luck until Tuesday. And, it's not like the bank is convenient to my place of work -- I'll have to take time off from work. The people in the local branches are great, but beyond that -- terrible. If you're thinking of opening an account -- go elsewhere! This is just the latest of many poor customer service issues at the corporate level.
Every transaction or change you make you will pay for. When my bank was Merrill Bank I had much better luck and as a matter of fact when I accidentally overdrew once they forgave me for it and didn't charge me when I knew full well it was my fault. Now I had debit card network charges, monthly charges, charges for charging me so much, I since have changed my bank account, but I wanted to keep a savings. Come to find out there is a charge for not having a minimum balance, they did not tell me that part so I'm finally going to dump them.
Basically you give them your money and they come up with fees to justify taking it. There is no point of opening an account that's a savings or any other type of account if you want to save money. Give a man a gun and he can rob a bank, give a man a bank and he can rob the world. I have since gotten a car loan at a credit union, and have a checking and savings that I get monthly dividends into my account which for the first month is more money than I have ever gotten in interest from this bank.