• Report: #805844

Complaint Review: The East Carolina Bank

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  • Submitted: Tue, December 06, 2011
  • Updated: Tue, December 06, 2011

  • Reported By: meacarguy — Greenville North Carolina United States of America
The East Carolina Bank
35050 US 264 Engelhard, North Carolina United States of America

The East Carolina Bank ECB Is $18,000 in Bank Fees in One Year Morally Correct from a "Community Bank" Engelhard, North Carolina

*Consumer Comment: Morality???

*Consumer Comment: Your contention is that due to YOUR fault...

*Consumer Comment: no details

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I am sure your first thought is No Way. Well what you are about to read is true. My local friendly bank charged me over $18,000 in fees in one year. The same year mind you that they received 18 million in stimulus money.
Ok so how did this happen. Two reasons and I take the blame. I was focused on building a new business and not paying attention to details. Second, they have a confusing online banking system that makes it difficult not only for me but other bankers, lawyers and individuals to understand.

 To date I have had no response to emails sent to the CEO, the board of directors or anyone else at ECB. The responses from complaints filed are filled with inaccurate statements and they maintain their position they are entitled to every penny.
Without going to court and hiring a huge firm to fight a battle I may win, I still would loose it all in fees, now to attorneys. [continued below]....
.....
They may be right legally, they wrote the rules, but are they right morally? At what point is enough, enough. Their aggressive tactics have forced me to shut down my retail location and move into a storage facility to liquidate my assets.
I thought the community bank was their to support the community and help build business. I guess I made a bad choice of banks.

This report was posted on Ripoff Report on 12/06/2011 05:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/The-East-Carolina-Bank/Engelhard-North-Carolina-27824/The-East-Carolina-Bank-ECB-Is-18000-in-Bank-Fees-in-One-Year-Morally-Correct-from-a-Com-805844. 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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0Author 3Consumer 0Employee/Owner
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#1 Consumer Comment

Morality???

AUTHOR: Jim S - (United States of America)

This is a contractual obligation you made with the bank.  I would be more concerned if your business had hired people.  Your failure to watch over the administration of your business would have then put your employees out of work.  Tell me what the morality is of neglecting your business to the point where you have to fire your employees, who have families of their own, close your business and skip out on your landlord, and screw up customers and vendors because you couldn't handle your bank accounts??  I find your question of morality to be a strange one, and an example of why your business didn't do so well.

The purpose of a community bank is exactly what you stated it is.  Nonetheless, it doesn't entitle you to get a better deal from them, nor are they obligated morally or otherwise because you have made a contractual obligation.  If you skip out on the $18,000, what is the moral obligation of that??  Morality cuts both ways, doesn't it.

You would have been better off with a larger bank with better resources and a business account worth something than what you ended up with....
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#2 Consumer Comment

Your contention is that due to YOUR fault...

AUTHOR: Ken - (USA)

the bank isn't right, morally?

ANYONE who has paid over $18,000 in fees is just not capable of running a new business or running his own affairs. You confirm this by statling you can't figure out their online banking system.  Did you ask them for assistance?

Did they just bill you the $18,000 at the end of the year or did you have numeroous opportunities to fix the problem yourself?

What does the 18 million dollar stimulus money, which they repaid, with interest, have to do with ANYTHING?

"Their aggressive tactics have forced me to shut down my retail location and move into a storage facility to liquidate my assets. I thought the community bank was their to support the community and help build business. I guess I made a bad choice of banks."  

Thier aggressive tactics did NOT force you into a storage facility liquidating your assets....YOU, alone, did that.

Also, what should the "community bank" have done to support the community and help build business?

Should they have forgiven the fees, YOU accumulated in your carelessness?

What do you think any other bank would have done differently?

You'll find your "bad choice of banks" had nothing to do with it. Your lack of business acumen would have soon doomed you at any rate.
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#3 Consumer Comment

no details

AUTHOR: coast - (USA)

"They may be right legally"

I suppose that's why your report lacks details.
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