By  Fri Aug 23, 2013

The 10 Most Common Customer Banking Complaints

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A unique feature that sets MyBankTracker apart from other banking sites is our reviews page. Anyone can write a review about their bank or credit card and share their personal consumer experience.

We looked through thousands of reviews to find the most common banking complaints.

If you want to let others know about the experience you’ve had with your bank, head to our Reviews page. We currently have over 7,000!

1. Excessive/hidden fees

“Keep your money, don’t get ripped off.”

Kelley H. wrote about Wells Fargo’s excessive fees and how she felt the charges were intentional.

Often times, customers aren’t aware they can opt out of certain coverages, such as overdraft protection. You can choose to not use this service, which allows purchases to go through even if you don’t have sufficient funds to cover it, but you will be charged roughly $35 per transaction.

If you choose not to use this, your debit card will simply be declined if you don’t have enough funds. It’s important to be aware of these kinds of programs and the fees associated with your bank.

If you’re unsure or have questions, calling your bank is always a good idea to get a clearer picture of fees you could get charged for, or to question fees you weren’t aware of opting into, such as the overdraft protection fee.

2. Bad customer service

“Worst bank, ever.”

Roz vented about TD’s customer service. He was unhappy with automatic payments appearing on the wrong dates, which caused the bank to charge him fees. When he contacted customer service, they didn’t seem to know how to handle the problem.

It’s certainly frustrating when bank employees don’t know how to resolve an issue. Getting switched from person to person, and being put on hold multiple times can test anyone’s temper. Unfortunately, there’s not much you can do except try to remain calm and get the issue fixed as soon as possible. Speaking to a manager is always best, but sometimes even the manager won’t be much help either.

Lashing out at bank workers will not help the situation. Staying cool and collected is the best way to move things forward.

3. Checks/funds bouncing

“Horrible bank!”

Madeline M. wrote about her $2,000 deposits getting lost when Commerce Bank was bought out by TD Bank. As a result, checks bounced, and she incurred a total of $400 in overdraft fees.

It’s important to keep all of your transaction receipts and emails. Luckily for Madeline, she saved her deposit slips to prove her case.
If the bank doesn’t agree to take off the fees, as in Madeline’s case, try speaking to various people in the branch and on the phone. Remember to write down the times, dates and names of customer service reps and managers you speak with.

When it comes to customer service on the phone, another unsatisfied customer said he would hang up and redial until he spoke with someone knowledgeable or willing to negotiate. (Continued on the page 2)

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