Report: #788208

Complaint Review: Sovereign Bank

  • Submitted: Thu, October 13, 2011
  • Updated: Thu, October 13, 2011
  • Reported By: Anonymous — Boston Massachusetts USA
  • Sovereign Bank
    P.O. Box 12646
    United States of America

Sovereign Bank UNNECESSARY FEE CHARGES!!! Internet

*Consumer Comment: question

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

Sovereign Bank is too quick to charge the customer fees which leaves the account in a negative balance! When you make a deposit before the cut off time thinking your account will become available within that time, Sovereign Bank changes the cut off time without giving the customer notice making your account go negative charging you fees. Their customer receipt is confusing also, It gives you the transaction amount,the prior day closing balance, an current balance, and your available balance that doesn't make the original transaction amount available until the next business day even if you made the cut off time that they originally had, they should not make the changes on the cut off time without telling the customer this! I've been fed up with this bank and will close it after my prior checks come through. I will never open an account with this bank again and hope other people read all the rip off reports on this Bank before even considering opening up an account with this bank!
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#1 Consumer Comment


AUTHOR: coast - (USA)

"SovereignBank changes the cut off time without giving the customer notice making your account go negative charging you fees."

Did you authorize transactions against unavailable funds and then attempt to cover those transactions prior to the daily cutoff time?
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