• Report: #873124

Complaint Review: Woodforest Nacional Bank

  • Submitted: Tue, April 24, 2012
  • Updated: Tue, June 26, 2012

  • Reported By: Kasey — Hartford Kentucky United States of America
Woodforest Nacional Bank
25231 GROGANS MILL ROAD, SUITE 450 The Woodlands, Texas United States of America

Woodforest Nacional Bank predatory and fraudulent thiefs The Woodlands, Texas

*Consumer Comment: Ha!

*REBUTTAL Owner of company: Woodforest National Bank

*Consumer Comment: Your lucky...

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I have had this account for well over a year now and actually had an account with them before this one. With the previous account I was very satisfied. I fell on some hard times and had to overdraft my account. The account was closed but as soon as I got money I went and paid the old account off and opened a new account with them since I had been so satisfied before.

I did not realize when I opened the newer account that the old account would be held against me for so long considering it was paid in full. There have been multiple issues where I wanted to do something with the bank and was refused due to the past occurrences.

Then, after having the new account for a year, I lost my job due to illness. I have had a minimal amount of money coming in and have had to overdraft my account on occasion to survive. I have the Overdraft Protection so I thought this would not be an issue. The money has always been deposited in my account within a day or two and they took their $34 for each and every occurrence. What I was not informed of was that this would also be thrown in my face at every given chance.

I finally received a large sum of money that has been owed to me. I have deposited checks from this business before with no issue and was originally informed that there would be no hold placed on the funds. Then they decided to put a seven day hold on the money. The teller even gave me a date of release being April 26th. So I made financial obligations and plans for MY MONEY.

Then after a few days they decided to place a seven business day hold on the money which should have only pushed the release date back by one day. I was frustrated but ok with it until they informed me that the first day, the date of deposit, does not count and neither does the final day. So their seven business day hold will actually take 13 days!!! All of this when I was originally informed that there would be no hold!!!

To make matters even more frustrating, the money was made available to my account just 48 hours after the deposit! The only thing stopping me from getting my money is the outrageous hold that my bank put on the check. When I called them and asked why they were doing this hold their reply was "It is our legal right due to your overdraft activity over the last several months." So paying the fees and fixing my account is not enough, I also am denied access to my own money for almost two weeks?

Yes, they have that legal right but it is not ethical or moral!! That money sitting idly in my account is meant for me to seek desperately needed medical care. I need that money to get treatment for my illness with the hopes of getting healthy and going back to work. The sick thing is that the one place I trusted to care for my money is now denying my health!

I am reporting them on every front possible. Their actions are disgusting and I think everyone should know!!

This report was posted on Ripoff Report on 04/24/2012 01:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/Woodforest-Nacional-Bank/The-Woodlands-Texas-/Woodforest-Nacional-Bank-predatory-and-fraudulent-thiefs-The-Woodlands-Texas-873124. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Woodforest Nacional Bank

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 2Consumer 1Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Ha!

AUTHOR: Smart Buy Homes - (United States of America)

I think it's hilarious reading al of these complaints.  I've been a customer at Woodforest for over four years, and I've never had a hold put on a check for any reason, or had any other problems with my bank.  It's insane that people can post untrue statements about people and/or companies with no repercussions.  Be responsible with your money and none of these problems will occur!  Amazing!
Respond to this report!
What's this?

#2 REBUTTAL Owner of company

Woodforest National Bank

AUTHOR: Woodforest Customer Service - (USA)

Woodforest National Bank is dedicated to providing quality customer service and we would appreciate the opportunity to speak with you directly.  Please contact your local branch or our Customer Care department toll free at 1-888-224-0132 or email customerservice@woodforest.com.
Respond to this report!
What's this?

#3 Consumer Comment

Your lucky...

AUTHOR: Robert - (U.S.A.)

That all they are doing is putting a very legal hold on your funds.  Based on what you described other banks would have not only charged you overdraft fees but may have decided you are a customer they no longer want and would have just closed out your account(without notifying you in advance), and having you wait 7-10 business days before they send you a cashiers check for any remaining funds in your account.  They could have also put you into ChexSystems when you overdrafted making it next to impossible to open an account at any "mainstream" bank for several years.

Also, unless your "Overdraft Protection" is tied to another funding source(such as a savings account), the bank has the OPTION to pay or reject any payments coming in.  So they may get tired of your constant overdrafts and just start rejecting payments.  But that would not be the end of it.  They still have the legal right to charge you a fee.  And since the check was returned you still owe the company as well as any fees they may have.  Also, in some cases the company may decide to take legal action against you.

Yes I am sure you think that your situation makes you "special" and that the rules that everyone else abides by doesn't apply to you.  However, they are not a charity(yea I know shocking).  If you have serious financial issues perhaps you should look at getting some sort of assistance.  Heck if you are spending hundreds of dollars in Overdraft fees, even with their high interest you may be better off getting a Payday loan.

So if you haven't figured it out overdrafting your account is not a sound way to manage your money.  Hopefully you will realize that there are more consequences to your actions than just having to pay the fees.  Because this idea also extends into other areas.  For example, if you are continually delinquent on any of your utilities, even though you may pay the late fees they may reevaluate your account and require a deposit.  If you have credit cards even though you may pay the late fees they may increase your Interest rates or just close your account. 

Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X