- Report: #621799
Report - Rebuttal - Arbitrate
Complaint Review: Sovereign Bank, NJ
Sovereign Bank, NJMain Street, Asbury Park, NJ Asbury Park, New Jersey United States of America
Sovereign Bank, NJ Ginny Lennon, Wendy Stockton, and John Steir Sweep Account Misrepresentation, Overdraft with More than sufficient Funds Asbury Park , New Jersey
*Consumer Comment: The best management will ALWAYS be..
One of the main reasons I found this is because of the insane surreal experience that unfolded at the bank and I was treated like an idiot and they protected the insane employees.
However, I have been ripped off many times with this institution. Their employees are not even educated enough to provide you with knowledge about their services and you will pay like I did.
I had mismanaged an account so, I asked what could be done to avoid this. I had a Money Market and two joint checking accounts. They said they can link them A SWEEP ACCOUNT. Well, it turns out - this is a wacky sweep! They set it up so it was only able to take funds from acct. A to balance B & C. But, it will not work from B to balance C & A. This is a scam and it was not represented that way. My 2000.00 rent where my business and home are based was returned, with sufficient funds. It was an embarrassment!
This is a main reason why I sought the other branch to help. However, I sat down and complained from the 1st complaint to the last. Starting with the phone call where the other branch called stating my husband is a cheater and he has a woman posing as an impostor. He never even entertained that complaint. It is obvious that I have been dealing with scammers who have to make some sort of quota for corporate. I am even more convinced that this institution is on the same level as McDonalds when it comes to making a hiring decision. I am more than 100 percent there is also an issue with poor drug screening once the employee is hired.
I am sick with regret for ever dealing with this archaic institution. If you stop by a branch , take a peek at the out-dated computers they use! It makes me very weary when I deal with my own business and I keep my technology as updated as possible. This bank is in the 70s maybe 80's era when it comes to technology. Not a good choice when my small business is exceeding the banks technology.
I am a young business and I need the same cutting edge banking for my money management to succeed. If there is any sort of class action against this institution, my accounts are proof! I had 10's of thousands in my savings and not one person attempted to steer me right, it seemed the more I had the more they sucked me dry. Please look out for this bank!!!
This report was posted on Ripoff Report on 07/09/2010 05:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/Sovereign-Bank-NJ/Asbury-Park-New-Jersey-07712/Sovereign-Bank-NJ-Ginny-Lennon-Wendy-Stockton-and-John-Steir-Sweep-Account-Misrepresent-621799. 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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