Charter One Bank Norwood Branch
134 Nahatan Street, Norwood, MA 02062Get Directions
Charter One Bank Branch Customer Reviews
Reviewed By Driver10 Nov 28, 2013
Citizens New Posting Rules Are A Scam!
I have been a Citizens Bank customer for about six years. Using their services for my Business Checking Account and using WorldPay for my business merchant credit card processing. I also have my Household Checking Account with Citizens as do both my adult children. I'm sure that to Citizens, my business is not significant. That's why when I say I am starting the process of moving all my business away from them they probably don't care. Why am I doing this?
Citizens posts transactions to your account on the overnight of each business day. As long as I can remember they have used a pretty simple rule for the order of posting. First, all cleared deposits, credits and transfers, then all checks and debits, largest amount to smallest amount. On 11/08/2013 they started using an arbitrary set of rules. The old rules are out the window and according to the Bank's own statement "items do not always post in the order in which the transactions occurred. I suppose if I had nothing better to do I could spend some time each day figuring out how the previous nights posting happened. But I have a life and a business to run.
Of course the rules were made to be incomprehensible and therefore the "gotcha" fees are going to kick in a lot more often. They can run their business anyway they want but they can't make me bank with them. I've decided I can do better elsewhere.
I am actually doing Citizens a favor by making this post. As a business owner I understand that nearly all unhappy customers disappear without a word. I also understand the basics of an income statement and profit and loss. I am sure Citizens has all the numbers figured out on loss of customers as a function of fee increases. This is where Citizens crossed the line with me.
Maybe this change was made to raise revenue to pay for all that new hardware they have installed in all their branches or changes to their online banking which have messed that up too. Well, good luck Citizens.Thank you for your feedback Is this review helpful?
Citizens BankReplied on Dec 03, 2013
Hello Driver10, I am from Citizens Bank's Office of the Chairman. I am sorry to hear about your experience, and I would like to learn more to see how we can best help. In order to talk with you regarding your concerns, we need to speak with you one-on-one. Can you please email your name and a phone number we can reach you at to AskCitizensBank@citizensbank.com? (Please do not include any personal information such as social security numbers or account numbers in your email.) Thanks -- we look forward to hearing from you!