Report: #355588

Complaint Review: Sovereign Bank

  • Submitted: Fri, July 25, 2008
  • Updated: Sat, July 26, 2008
  • Reported By: Harrisburg Pennsylvania
  • Sovereign Bank
    Second Street
    Harrisburg, Pennsylvania
    U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Sovereign Bank Ridiculous overdraft fee and deposit/withdrawal policies Harrisburg Pennsylvania

*Consumer Comment: You are clueless.

*Consumer Comment: You are clueless.

*Consumer Comment: You are clueless.

*Consumer Comment: wow, great plan!

Show customers why they should trust your business over your competitors...

I was a customer with Sovereign bank for over 12 years and I finally had enough. Admittedly, I knew my account was overdrawn due to a calculation error on my part, so I expected to get one overdraft message and one fee of $33. It seems that the bank had a different idea. They held all of my transactions for 8 days, then took the largest withdrawals out first (not in the order in which they came in), which overdrew my account 9 times. I owed them $209 in overdraft fees. Then they decided to freeze my account with no notification. It took me three days to get that straightened out.

I deposited approx. $1500 a few days later and when I went to the MAC machine, my account was still frozen. FYI, when they freeze your account, the customer service people on the phone WILL NOT HELP YOU AT ALL. You physically have to go to your branch and have them take off the hold.

After the second time of doing this and having 4 more overdrafts in the meantime (because they 'forgot' to take off the hold the first time), I took all but $4.86 out of my account and went to a new bank. I want them to waste their time, resources and effort managing my $4.86 for the rest of my life.

Tiredofbanks
Harrisburg, Pennsylvania
U.S.A.
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This report was posted on Ripoff Report on 07/25/2008 10:36 AM and is a permanent record located here: http://www.ripoffreport.com/reports/sovereign-bank/harrisburg-pennsylvania-17110/sovereign-bank-ridiculous-overdraft-fee-and-depositwithdrawal-policies-harrisburg-pennsyl-355588. 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. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#1 Consumer Comment

You are clueless.

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

'They held all of my transactions for 8 days'

Doesn't work that way as much as you'd like to think so. They get processed when the merchant at which you purchased something decides they are going to collect on it.
You are not THAT important that they are going to waste their time to watch an account that does not have enough money in it. You spent money you didn't have plain and simple.
Respond to this report!

#2 Consumer Comment

You are clueless.

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

'They held all of my transactions for 8 days'

Doesn't work that way as much as you'd like to think so. They get processed when the merchant at which you purchased something decides they are going to collect on it.
You are not THAT important that they are going to waste their time to watch an account that does not have enough money in it. You spent money you didn't have plain and simple.
Respond to this report!

#3 Consumer Comment

You are clueless.

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

'They held all of my transactions for 8 days'

Doesn't work that way as much as you'd like to think so. They get processed when the merchant at which you purchased something decides they are going to collect on it.
You are not THAT important that they are going to waste their time to watch an account that does not have enough money in it. You spent money you didn't have plain and simple.
Respond to this report!

#4 Consumer Comment

wow, great plan!

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

Until they charge you monthly dormant account fees and charge off your account.

"I took all but $4.86 out of my account and went to a new bank. I want them to waste their time, resources and effort managing my $4.86 for the rest of my life."
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