Report: #13392

Complaint Review: Sovereign State Bank

  • Submitted: Tue, February 05, 2002
  • Updated: Tue, February 05, 2002
  • Reported By: Beachwood NJ
  • Sovereign State Bank

  • Phone: (732)244-4044
  • Web:
  • Category: Banks

Sovereign State Bank gives away savings to shopping club network-closed acct. Lost extra $650 from returned Visa charge. RIPOFF

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I borrowed $1500.00 from Cita Financial for the prupose of buying a coumputer. I had previously borrowed $1500 from them, but when I paid $922.00 to Nationwide Computers in New Brunswick, NJ, for a Pentium 4, they said they didn't have all the parts, than they went bankrupt and I am still awaiting a response from bankrkuptcy court. I Purchased a computer system from, but when it didn't work they would not fix it, so I had to send it back, and jahs just today informed me that they had credited the $655.55 to the Visa Account I had with Sovereign State Bank in Ocotber,2001. I had closed my account with Sovereign State Bank on July 25, 2001 with a $78.00 withdrawel, which was what I had left of $1500 I had borrowed from Cita Financial. On June 15, I responded to a credit card I received from Consumer Resource Services,Inc. I was sent a First National Card.
Acct# 7200 8632 0729 9777, good to 05/02. The Activation # was 1-800-717-1278. The credit dept. # is 1-800-731-0121.

I had given them my checking Acct # for verication. Sovereign Bank ,Pine Beach,NJ check Acct# 041107827 0384 , bank # 231372691.

They than requested that I authorize a transfer of $199 to them, as they are a sopping network, whereupon I explained there was a misunderstanding,as i thought it was a credit card, and requested that they cancel the program, and just to be safe,I went to the bank and exlained that I did not want any money transfered to this shopping network,and as extra insurance i had my money in my checking acct. transfered to my savings acct, and i filled out forms so that I could continue to use my visa card to make purchases,and was told that I could even write checks,as money would automaticaaly be transferred from the savings account to th checking account. When I returned home I again called the shopping network to insure that me account was indeed cancelled, and they said it was not activated.

A Month later I find out that a large amount of my money is missing from my saving account, and when I went to the bank to find out what happened, they refused to listen to me, so I had no choice but to close my account and withdraw the $73.56 I still had left in the Account.Based on my records the bank took the following actions. on ^/19 they transferred $199 to consumer credit, membership # 0106187491,than charged me for all transactions I made on my account with penelties and fees, despite the fact there was still plenty of money in my account, which was verified when I withdraw the $73.56 I still had after a month of fees and charges.
6/20 sweep fees $10
6/25 " " $10
6/29 " " $10
7/02 " " $10
7/10 " " $10 7/13 excess activity fee $20
7/16 " " " $20
7/17 " " " $20
7/11 sweep fees $10 7/17 sweep fee $10
7/13 " " $10
7/16 " " $10
7/24 " " $10
6/19 service fee $ 5
Total charges $165

I closed my account on 7/25 01, yet in spite of that Sovereign State Bank contued to give the shopping club in Los Vegas an additional $250 in the following months, all that despite my calling the division of consumer affairs and sending a detailed letter to the Sovereign State Bank Headquarters in Pennslyvania, whereupon they responded that I must give a 30 day notice in advance in order to stop any payments, which was non-sensical, because they contimued to give the shoppping club money despite that very letter I sent to them, after I had closed the account.

Now I have discovered from that they had returned $655.55 to the Visa account I had with Sovereign State Bank, which had not notified me of that, Instead , kSovereign State Bank has filed with a Collection agency for $350 they claim that I owe them. If this isn't the rip-off of rip-offs of the poor working class disabled, who was injured on a union job, the International Association of Machinist and Aeorospace Workers, as I was a machinist for 9 years, a carpenter for 4 yrs, 1 yr. as a union member of the textile Industry with my father at Bluco Textile in brooklyn, NY, and 10 yrs . of part-time college with a 3.5GPA (A Student) with over 130 Semester Credits, but only an AA in Arts, who sustained a chronic-lumber-sacral sprain, a perminent twist in my back, injurial arthritis, cervical Sprain, with a buildup of destroyed muscle tissue from 21 yrs of muscle spasms which all clearly are visable on x-rays, but despite the faxct I was making approx. $650 a week in 1979,I am only collecting $134 a week from Workmans Comp. because the Colorado Court says my injury is psyklchosomatic( I could not walk for 5 yrs), and didn,t have a leg to stant on, so my medical bills remain unpaid, I still must pay $250 a month for medication, I never got any educational benefits so I have not been back to college for 21 yrs.For me, nad for everyone I know and ever known( and since I was born in NY Ciity and raised in the NY suburbs that is a lot of people) the American Dream had been a lifelong Nightmare, I Thank God for my Daughter and my 3 yr old grandaughter, but
How can I stop from being constatly being ripped-off???????

Beachwood, New Jersey

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This report was posted on Ripoff Report on 02/05/2002 12:00 AM and is a permanent record located here: 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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