• Report: #1008715

Complaint Review: Colorado State Bank and Trust

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  • Submitted: Mon, February 04, 2013
  • Updated: Mon, February 25, 2013

  • Reported By: qh — La Jolla California United States of America
Colorado State Bank and Trust
Internet United States of America

Colorado State Bank and Trust don't trust your money with them, they have shady ways of taking your money from your account Internet

*Author of original report: Dispute resolved

*Author of original report: On what ground?!!

*Consumer Comment: Not a rip-off

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I opened a checking account in Denver at Colorado State Bank and Trust in 08/2011 at their Greenwood Village branch after learning from the banker that the checking account is absolutely free as long as I maintain a balance of $50.00 or more.  The banker there never mentioned anything about dormant fee or inactivity fee.  I kept the balance above $50.00 but never used the account for any transactions.  I moved out of Colorado to California in 04/2011 but didn't close the account as I thought my money was safe with Colorado State Bank and Trust.  However, I was shocked to find yesterday on my bank statement that Colorado State Bank and Trust has been deducting $6.00 so called "dormant fee" every month from my checking account for the past 7 months without notifying me.  They claimed that the term about the "dormant fee" is in the agreement I signed while I openned my account.  I think it propably was written in the agreement in some obscure places but how many customers would read the long agreement word by word or even consult an attorney before openning a bank account?!!  Any honest bank certainly would warn customers about these fees up-front instead of telling you that it's absolutely free.  Will you feel safe to put your money in a bank that would mislead you and give you no warnings about these hidden fees up-front?  

This report was posted on Ripoff Report on 02/04/2013 03:03 PM and is a permanent record located here: http://www.ripoffreport.com/r/Colorado-State-Bank-and-Trust/internet/Colorado-State-Bank-and-Trust-dont-trust-your-money-with-them-they-have-shady-ways-of-t-1008715. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Dispute resolved

AUTHOR: qh - (United States of America)

Colorado State Bank And Trust has notified me that they will refund all the service fee that was taken from my account. 
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#2 Author of original report

On what ground?!!

AUTHOR: qh - (United States of America)

1.  I moved out of Colorado in 04/2012, does that make sense to you now? It never crossed your mind that it could be a typo? And how come that is enough ground for you to conclude that it is not a rip-off?  I'm curous about your logic here.

2. I do not reconsile my bank accounts monthly, especially for an account that I had zero transaction/activity for the past 17 months. And again, how come not reconsiling my bank account monthly or regularly has anything to do with whether this is a rip-off or not?  Can you please explain your logic here? It seems that, in your opinino, any naive bank customers who trust their banks and therefore do not watch their bank accounts closely deserve to be ripped off... oh, I forgot, you don't think that is a rip-off.

If you are a representative from Colorado State Bank and Trust, I'd not be surprised. As a matter of fact, it'd be odd if you're not. My post is not for you but for people who do not know these shady business practices of Colorado State Bank and Trust and may therefore fall in the trap like I did.  I'd have never chosen Colorado State Bank and Trust for my banking needs if I'd seen a post like this in 2011.  I think that's the very purpose of this web site.  No body want to put their hard-earned money in a bank just to be taken away from them by the bank with all kinds of shady tricks.

QH
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#3 Consumer Comment

Not a rip-off

AUTHOR: coast - (USA)

"I opened a checking account in Denver at Colorado State Bank and Trust in 08/2011... I moved out of Colorado to California in 04/2011"

It seems odd that you opened the account four months after you moved out of Colorado.

"deducting $6.00 so called "dormant fee" every month from my checking account for the past 7 months without notifying me"

You reconcile your account monthly so how did you miss that?
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