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.
The bank's overdraft fees is set automatically on a daily system. If you make any mistake one day that you go over your balance, you get charge $37. 00. If you don't catch that mistake immediately that same day, a $5. 00 overdraft can cause a domino effect with a minus of $37. 00 every time there is a transaction in that account. I got charged 6 times an overdraft fee because of an automatic payments during a weekend that i didn't catch on time.
When i checked the statement on line, i was fine. I discussed my case with 2 staff there, but in vain they took away only 1 overdraft fee, and i got charged with $185. 00 of fees. I thought most banks charge overdraft fees on the same day that it happens. No, only few banks like people's united bank do so. This bank is taking advantage of hard working people with a small mistake they would in a day. Shame on you people's united bank. You should change your name. You're not a people's bank.
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!