Santander

Review: Upon completing a bank transfer from my business account into my personal account - the bank has charged me a $35.00 fee for insufficient funds.

I have banked with them over 10-years. I know how to perform and when to perform bank transfers and FUNDS WERE AVAILABLE FOR MY TRANSFER.

If funds were NOT available the transfer WOULD NOT HAVE COMPLETED.

NO where on my bank statement does it show an NEGATIVE amount to confirm I was overdrawn to complete this transfer. I spoke to the bank and they denied my complaint saying funds were NOT ready available - then HOW DID I COMPLETE my transfer. If this a computer glitch on their end, I am not responsible to pay for it.Desired Settlement: Refund my $35.00 charge and any other additional charges due to this glitch.

Business

Response:

November 19, 2013

Dear **. [redacted]: . .

Thank you for your November 10,2013 letter addressed to the Revdex.com. Your letter was provided to me for response on November 18,2013.

We appreciate your inquiry, and as providing exceptional customer service is our goal at Santander Bank, N.A., formerly Sovereign, please be assured that we have carefully researched this matter in order to assist you.

You stated in your letter that you are questioning the unavailable funds fee that was assessed to your checking account ending in numbers [redacted], on November 8,2013.

Further research was conducted to address the additional concerns you raised in your recent letter and for your convenience, I have added this supplementary information in the attached document.

Thank you for taking the time to share your concerns and for allowing me the opportunity to address your. concerns. If you have any additional questions, in regard to this matter, please feel free to call the Customer Contact Center at ###-###-#### or your local branch.

We value you as a customer, and look forward to assisting you with your financial goals,.now and in the future.

Sincerely,

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

the problem is not me not understanding their policy - again, I have banked with Sovereign Bank - now Santander Bank for over 10-years. I have completed 100's of balance transfers to and from my accounts while the transfer performed indicated funds available to me; I am being charged $35.00 for something out of my control.

This is UNFAIR BUSINESS!!!! I have a budget, and giving this bank $35.00 for their error is just unjustifiable to me. Any person who understands transfers should know you can NOT transfer what is NOT available to you. The funds were available - so the transfer was "COMPLETED" - so this is a bank error if they processed me more than what their policy states, why should I be accountable for that???

My account was NEVER OVERDRAWN!!!

PROBLEM: computer glitch of some sort

So according your policy of FUNDS AVAILABILITY POLICY ONLY $200.00 FROM A CHECK DEPOSIT IS AVAILABLE - your company needs to figure out how it gave me MORE and I was able to process my transaction.

[redacted]

Business

Response:

December 3, 2013

Dear **. [redacted]:

Thank you for your recent correspondence addressed to the Revdex.com. Your letter was provided to me for response on December 2, 2013.

You stated in your letter that you are again questioning the unavailable funds fee that was assessed to your business checking account ending in numbers [redacted], on November 8, 2013.

As noted in my November 19, 2013 letter, which is enclosed, the account had a $176.49 available balance on Friday, November 8,2013. On that same day, three (3) transactions, which totaled $325.83 were presented for payment. Of those transactions, two (2) were internal transfers conducted through OnLine Banking and one (1) was for an Automated Clearing House (ACH) transaction- It is important to note that we did not assess unavailable funds fees for the two (2) internal transfers. We did, however, assess a $35.00 unavailable funds fee for the ACH transaction that was presented.

A bank error did not occur in the assessment of the fee and the fee will not be refunded.

The bank does not assess unavailable funds fees for internal transfers. Therefore, the fact that we did not assess fees for the two (2) internal transfers was not the result of a computer “glitch”.

Thank you for taking the time to share your concerns and for allowing me the opportunity to address your concerns. If you have any additional questions, in regard to this matter, please feel free to call the Customer Contact Center at ###-###-#### or your local branch.

We value you as a customer, and look forward to assisting you with your financial goals, now and in the future.

Sincerely,

Review: I must have made an $100 error in my check book deductions and should have been charged one insufficient fund fee. However, Sovereign Bank continued to charge me to a total of 8 insufficient fund fees of $35 each on July 8-9, 2013. Once I had a 2nd transaction causing an overdraft, Sovereign bank should have made a courtesy call to me or declined further transactions, rather than continue to charge me insufficient fund fees totaling $280. When I called Sovereign Bank on 7/15/13, ([redacted]), Latisha was only willing to credit me 2 of the insufficient fund fees, leaving 6 charge totaling $210. I think that it is obvious I made an error and am normally a good customer. I had two deposits in the last week, one for $1050 and another for $675. Therefore, I think it is grossly penalizing me $280 for a mistake. I think they should credit me either for another $175 for 5 more insufficient fund fees or at least credit me for 4 of the insufficient fund fees, totaling $140. Charging a customer 8 insufficient fund fees within 2 days is absurd. It should be one insufficient fund fee on 7/8/13 and one insufficient fund fee on 7/9/13. I spoke with Latisha at [redacted] on 7/15/13 and she was only willing to credit me 2 of the fees. She told me she cannot credit me any more than that. The bank should make a courtesy call when “one” insufficient fund fee is charged or at the very least after “2” insufficient funds fees are charged to a customer’s account. I received credit for 2 fees and want credit of $140.00 for 4 more of the insufficient fund fees. I agree to pay 2 of the 8 charges. Their fee charges caused additional fee charges. They should not charge you fees because of their fees putting you more in overdraft, but they did.Desired Settlement: $140.00 additional credit for 4 insufficient fund fees (does not include the 2 fees I did receive credit for on 7/15/13)

Business

Response:

{Please see attachment.}

Review: I was issued a credit from [redacted].com for 211.99 for a defective product (ORDER ending in [redacted]), the credit was issued to the card that was initially used to pay. It is a cancelled card that was issued by Sovereign bank which is now Santander. The card number ends in [redacted]. I contacted Santander approximately 8 times via phone and twice in person at my local branch. I was assured by three people that this card is completely cancelled and any credit would bounce back and [redacted] would have to issue me a check. The rest of the people were either unable to understand my question or unable to locate this card. I have also contacted [redacted] at least 9 times, they also assured me that the credit did process successfully and gave a reference number which the bank said it could not use.

[redacted] has told me that the credit absolutely went through and this does happen on cancelled cards and the bank would issue a check. Each company is stating that the burden lies on the other company.Desired Settlement: For the party at fault to return the 211.99 to me and issue me compensation for the 3 or 4 hours I have spent dealing with both parties to receive the refund.

Business

Response:

December 3. 2014,Dear [redacted]:Thank you for your November 14, 2014 correspondence submitted to the Revdex.com (Revdex.com) The Revdex.com forwarded your inquiry to Santander Bank, N.A. (Santander) on November 17, 2014, and as a representative of the Bank, have been asked to respond.We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is my understanding that you are inquiring about a credit in the amount of $211.99 that was sent to your closed. Santander Credit Card ending in [redacted] from [redacted]. You stated that you were advised by a Santander - Representative that if the card was closed, the credit would be returned to [redacted]. You have been attempting to recover the returned funds without success.First and foremost, we would like to offer our sincerest apology for any inconvenience that you experienced as well as the length of time that it has taken to resolve this matter for you. As providing exceptional service is our goal atSantander, the level of service you described is not at all consistent with our expectations. Please be assured that the details of this situation have been used for coaching and training purposes to ensure a better experience for our customers in the future.In researching the concerns you have presented our records indicate that [redacted] sent a credit in the ???unt of $211.99 to your Santander credit card ending in [redacted] on November 4, 2014. However, your credit card was Cancelled when the reimbursement was received from [redacted].The credit was not returned to [redacted] and upon further research we were able to locate the missing funds. Enclosed you will find Official Bank Check number [redacted], in the amount of $211.99 for the [redacted] credit we were unable to apply to your closed account.Thank you for taking the time to share your concerns, and for allowing me the opportunity to address them. Shouldyou have any additional questions in regard to this matter, please feel free to contact Anthony C[redacted],Customer Relations Representative, at ###-###-####.Sincerely, Jo Ann G. Vice President Manager Customer Relations

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Thank you very much for your help.

Regards,

Review: I have been getting sweep fees of $12.00 each month. When I am supposed to have a free student checking account.

I have been seeing sweep fees of $12.00 from my account, I was putting money from my credit line into my account to pay the fees. I finally went in to a Santander branch in West Reading and spoke to a Kirstie U[redacted] about my issue. She informed me I am supposed to have a free student checking and I am not supposed to be getting those fees deducted. So she switched it over so I wouldn't get charged anymore. Now this month I had another sweep fee of $12.00. This is ridiculous Santander owes me a lot of money for all the sweep fees that were not supposed to be deducted from my account. I am so much happier banking at [redacted] bank and I think I will close my account with Santander. No one seems to help or get to the bottom of it. I want all of my money back for all of these sweep fees for Santander's mess up so I can put it on my credit line. I am so furious I hardly have enough so as it is to pay my credit line off let alone get sweep fees on top of it. I am honestly going to close my account and never recommend anyone bank with Santander.Desired Settlement: I want all of my sweep fees for the past year or two refunded to my account since it was Santander's mess up. When I opened my account with Sovereign it was a free student checking and that is the way it needed to stay. Since Santander took over they screwed everything up.

Business

Response:

September 26, 2014Dear [redacted].Thank you for forwarding Santander Bank N.A. information related to the above-mentioned customer. Below please find a summary of our recent contact with [redacted] regarding her concerns.On September 19, 2014, Travis L[redacted], District Executive, spoke with [redacted] by telephone regarding this matter. [redacted] was offered an apology for the incorrect information she was provided, as she was informed that the sweep fees should not assessed when in fact this is a valid fee.To resolve the matter, Mr. L[redacted] offered a courtesy fee refund, in the amount of $36.00, for the three (3) $12.00 sweep fees she was assessed. [redacted] received an explanation of the fees, along with suggestions in which to avoid the fee in the future. This refund was posted to [redacted]'s checking account on September 19, 2014. According to our records, [redacted] was pleased with the resolution.Thank you for allowing us the opportunity to address this matter. If you have any further questions or concerns, please feel free to contact Ms. Talia C[redacted], Customer Relations Representative, at [redacted].Sincerely,JoAnn G Vice President Customer Relations

Review: I opened a Santander checking account in April of 2014. I established a direct deposit with my paycheck. Santander sent me forms that I had to sign and return to the bank in order to officially open the account. I signed the said forms and returned them to one of my local branches. The forms were never sent to the corporate office. I received a letter stating that corporate was still waiting for the signed forms. I immediately contacted the 800 number and the local branch. I told them that because I was a NYC teacher the window for making changes to my direct deposit information for the summer was closed so this account needed to remain open. Corporate said they would never close the account and were noting my account that the paperwork would be forwarded from the branch. Upon speaking to the branch they confirmed that the paperwork was faxed to corporate and they had a confirmation. Without any other contact from the bank, on the day my direct deposit hit for the second time (first time went through fine) I have no money in my account. Due to the fact that it was a Saturday the bank said they could not do anything until Monday and all they could tell me is that the account was closed. I was left without any funds. Monday comes around and through a tremendous amount of phone calls they were able to reopen my account but not before my funds that should have been direct deposited were returned to my employer. After again, numerous phone calls and trips to the branch, they assured me everything was all fixed. I was expecting my direct deposit now again from my employer and I just found out once again the deposit did not go through on Santander's end. They are grossly incompetent. Never in 25 years of working with banks have I experienced such complete stupidity. Not one person at this bank knows that they other one is doing. Three weeks I have been robbed of nearly $4,000 and there is nothing they can do because they have no idea what they are doing.Desired Settlement: Through this bank error I have been late on my car payment, credit card payments, doctor bills and have had to borrow money. As a single mother, how a bank can be so unapologetic for their mishandling of my account is beyond comprehension. This has affected my credit. I am still waiting for the bank to fix the problem with my checking account. The problem should have already been fixed. I don't know who else to contact without them telling me that I need to speak to a different department.help

Business

Response:

July 3, 2014Dear **. [redacted]:Thank you for your June 16, 2014 letter addressed to the Revdex.com. Your letter was forwarded to Santander on June 19, 2014, and as a representative of the bank, I have been asked to respond.We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Santander Bank, N.A. to provide exceptional customer service and to thoroughly review matters raised by our customers.First and foremost, I would like to sincerely apologize for the difficulties you encountered with regard to your new checking and savings accounts at Santander. We take these issues very seriously and work hard to deliver the type of service that customers expect and deserve. The level of service you described is not at all consistent with our expectations. Please be assured that the details of this situation were addressed by the appropriate management teams.You stated in your letter that you opened a checking and savings account with the Customer Contact Center (CCC), and that you received the signature cards and provided them to the [redacted] Branch instead of the CCC. However, the CCC did not receive the signature cards and your accounts were closed, leaving your direct deposit(s) to be rejected. .Upon researching this matter, I found that when the CCC had not received the signature cards, they mailed a letter to your attention 20 days and 30 days after the accounts were opened. I understand you contacted the CCC on May 13, 2014, and noted that you provided the signature cards to the Branch. At the time you called, the branch was not open. As a result, the agent asked if we could mail another signature card to your attention. It was at this point that you stated that you had already taken time from your schedule to deliver the paperwork to the branch and that you were not going to do it again. You informed the agent to get the papers from the Branch directly.According to Branch records the signature cards were faxed to the CCC on May 14, 2014. However, the CCC did not receive them.The CCC contacted you by telephone 43 days after the accounts were opened to inform you that they had still not received the signature cards and that the accounts would be closed. After they did not hear back from you, on May 29, 2014, two (2) official checks were issued to you; one (1) for $129.97 and the second for $20.00, representing the proceeds from your accounts.You then called the CCC and spoke to two agents on June 2, 2014, in order to determine why your debit card was not working. You were informed that the card was blocked because your accounts had been dosed because they never received the signature cards. You informed them that the signature cards were at the [redacted] Branch. As a result, they were able to follow up and retrieve the cards. The accounts were then reopened, at which point you questioned your balance. The agent noted that the balance was $00.00. Based on this information, you wanted to know where a direct deposit in the amount of $1,620.00, which would have been received in your checking account on May 30, 2014, had gone. The agent noted that the accounts were closed on Friday, May 30, 2014, so the direct deposit would have rejected and was sent back to the issuer.On Saturday, June 14, 2014, you called the [redacted] Branch in order to question the location of your June 13,2014 direct deposit. The team member noted that the funds were not in the account. While on the phone with a team member you then yelled that you would be in the branch in the next half hour and " will kill somebody there". Since this is a direct threat to both team members and other customers, the branch was dosed and the local police were called. While the police were at the branch, you called them again, and demanded a resolution of your entire situation. The team member noted that she would contact the necessary departments the next business day. Your $1,601,70 direct deposit posted to your account on June 16, 2014.While our review found that our team members and agents conducted themselves professionally and respectfully as they assisted you, please know that this matter has been reviewed by the appropriate management personnel to address how this situation could have been handled better by Santander.Unfortunately, as a result of your conduct at the branch, we are providing you notice that your accounts will be closed on October 16, 2014. This should allow you ample time to redirect any recurring payments or deposits that you may have established. We are very sorry that we have to terminate our relationship with you.Thank you for taking the time to share your concerns and for allowing me the opportunity to address them. If you have any additional questions in regard to this matter, please contact [redacted], District Executive, at ###-###-####Sincerely,

Review: A few weeks ago we went into the [redacted] Santander branch and closed all of our accounts because we were sick and tired of all of their fees. We had pulled out all of money previously and transferred the funds to our new bank but bills were still coming out automatically and we were incurring a lot of overdraft fees because of it. We closed the accounts so that no more bills would be paid from our Santander accounts and so that we would not have any further overdraft fees. Today we received an overdraft notification from Santander because a bill was paid from our CLOSED account. So instead of denying the payment they paid it and now want their overdraft fee. My wife called their customer support and they said that there is no way to stop payments from coming out of the account even if it is closed. And now because something has been paid against the account, the account is now active again and we have to go back to the branch and sit for another 30 minutes to close the account. The woman that my wife spoke with said that we could put a block on the account so that nothing else comes out of it but that would cost us $35! Total BS! When I ask to have my accounts closed I mean I don't ever want to have to deal with them again. I want my accounts closed and have nothing ever come out of them again without having to pay a fee to accomplish this!Desired Settlement: I want my accounts closed and have nothing ever come out of them again without having to pay a fee to accomplish this!

Business

Response:

June 3, 2014Dear [redacted];Thank you for forwarding Santander Bank N.A. information related to the abovementioned customer.Below please find a summary of our recent contact with [redacted] regarding his concerns:On May 31, 2014, [redacted], Manager of our [redacted] Branch, met with [redacted]. [redacted] was offered an apology for his experience and was informed that the insufficient funds fees that were assessed to his account in regard to this matter had been refunded prior to their meeting.**. [redacted] also informed **. [redacted] that in consideration of the matter, the remaining balance showing owed on the account at the time of their meeting ($13.42) would be refunded by the Bank and the account closed at a balance of $0.00.[redacted] indicated to **. [redacted] that he was satisfied with the resolution of this matter.The account in question has been closed as detailed above,Thank you for allowing us the opportunity to address this matter.Sincerely,

Consumer

Response:

Today we received another notification that our account was still overdrawn and that we still owed them over $80. Problem has still not been resolved.

Review: To whom it may concern,

I was charged $432 in overdraft fees for a $500 overdraft expense, when my account became overdraft. I did NOT request the bank to pay the charges in my debit card at their discretion and charge a $35 fee for every charge. Even if they have reimbursed $105 of those fees, they have still charged $327 in fees, or 65% of the amount overdraft.

After discovering their policy, I changed the default options they applied, to the rejection of the debit card if there are no funds in the account. This is not a courtesy service and I did not asked for it, so I consider that this is a bad banking practice and unethical.

Even if I was using the wrong card and the charges went to the account I did not have funds on, the card should have been declined, or a reasonable fee applied. I consider that charging %65 fee over the amount you used is a highly excessive amount. I even tried to negotiate with the bank, so a reasonable fee was applied in this case, that would be 20-30%, which is already a considerable amount.Desired Settlement: After talking with Sovereign Bank customer service several times and do not having a positive answer for settlement, I want a full reimbursement of all the fees ($327) to me, for a service I did not requested.

Consumer

Response:

To whom it may concern,The complaint described below:Complaint ID: [redacted] Complaint Type: Business Complaint Date Filed: 10/10/2013 3:55 PMIs not closed and the business has not addressed the demand of the consumer.The response the business sent is unsatisfactory. Charging fees for a complimentary service that has not been requested is not only a bad banking practice but also illegal.

The business, Santander Bank, still owes the consumer $187.That amount must be refunded in full.

Consumer

Response:

Review: [redacted]

To **. [redacted], Vice President of Customer Relations,

I am sorry my answer might not be specific enough in my last communication, but I am rejecting this response because:

1) The investigation you made respect to the facts happened on September 30th might be misleading for the reader. All the charges made by this client, were made on September 30th. Some institutions retain the payment for 24 to 48 hours, so charges appear to be made during subsequent days, which is not true. All charges were made on the same card, the same day of September 30th and in the same 60 minutes. Once it was detected that that was the card linked to the account with insufficient funds, no more charges were made.

A deposit of $560 was made in October 7th, since that was the amount due, without the disputed fees that were in dispute during multiple phone calls made to the customer service. Sovereign Bank, at their own discretion, decided to withdraw funds from a savings account, even while the fees were in dispute and the account was overdrawn due to those fees. Maybe, while this dispute is on the way, I should charge interest to Santander Bank for the money in dispute right now. Applying the same interest rate as Santander is applying to me, the amount due by Santander Bank to this customer will be $280 instead of the $187 in dispute. 50% rate. The 50 cent left in the calculation are a complimentary service by this customer to the bank.

2) The information I was given and the written information about my account, indicates that Santander Bank, at that time Sovereign Bank, has an Overdraft protection plan, in which they pay at their own discretion, charges made in the account. According to the written information I have, the customer has to opt-in for the option of one time purchase charges to be covered, that is, one time debit card transactions. The very same day I opened the account I requested be be opt-out of any of those "complimentary services". I specifically requested my card to be declined every time there are insufficient funds in the account.

3) As from 2010, every bank is required to get affirmative consent from the customer to pay overdrafts and the resultant fees. I have never given that consent, nor verbally or written.

4) As I mentioned in my first complain, this a really bad banking practice. It is a bad practice to charge fees for services that have not been requested. If the bank would have approached me with a contingency plan in case of overdraft that may result in an overdrawn balance, and I would have agreed with it, we would not be in this situation.

I have not asked or requested credit from Sovereign Bank or Santander Bank. I am still positive that charging $187 in fees, the amount left after the Santander Bank refund, over an expense of $364 is predatory banking. It is a 50% charge for a credit that has not been requested. Even more when the customer has not agree his account to be charged and a "complimentary service" of fees to be applied in order for the purchase to be made.

I strongly believe that a banking business, like the one Santander Bank is trying to expand from Spain, will be much more prosperous and will get a much better customer approval, if the procedures were clearer and the services elected by the customer. It is a really bad practice charging customers for services they have not requested.

Since the fees charged are illegal and a wrongdoing by Santander Bank, before Sovereign Bank, it is requested that the amount due by the bank to this customer to be refunded in full.

I am at your entire disposal to address this issue or provide any other detail that might not be clear in the previous explanation.

Regards,

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

The reasons I stated in the previous letter hold in place and I do consider that the bank has behave in an abusive way. I appreciate the time and effort that the Vice president has taken on examine this case. Unfortunately I do not get paid for this, so I cannot commit the same amount of time for this response.

I do accept the remaining fees credited to my account, not as a courtesy from the bank, but as what is right. It is just curious that after several visits to the bank branches and three letters with the administration of the bank, this is the first time that someone has mentioned a written form to avoid the account to be charged when there are no funds. I have been asking for that form for six months.

I do not demand any further action from the bank, but an apology letter will be highly appreciated.

Regards,

Review: I deposited a check for over $1600 into my checking account on 9/24 and had an account balance of $39 at the time. Later in the evening I needed some items I went to the store and spent $6.29 and then I had to go back and I spent $43 I have the Flu so I needed supplies. i.e. tissues cold & flu meds. I check my balance on phone on 9/25 today and is states my current balance is $1546 which does not makes sense I look up the account only and they charge me $35 for the $6 transaction and $35 for the $45 transaction. Which is a total of $70. I call customer service and the woman states to me my funds are available just not clear so I can use the funds at anytime if I want to incur a $35 charge. How does that make sense? My funda are available but if I use them its $35 for each transaction. Then customer service tells me after I argued the same point that the reason why now is that I am opted in into overdraft. I stated that is impossible because when I changed my address over a few years ago I opted out and if they look into my account they will see no overdrafts. Aside from last year when I called and they stated I was opted in and hit me for $105 in charges for being overdrawn. My bills were automatically debited from my account by check was late because of a work issue error.They told me at that time they would not refund the charges and would opt me out yet again. I think it is a complete scam that every time time they charge you a fee they state you are opted in and they say Okay well I can not refund the charges but I can opt you out. I am tired of being opted out over and over(supposedly) I want my charges back. Then they state when you deposit your check the first $200 is available. If the first $200 was available how was I overdrawn and if the system states my balance is $1546 how am I overdrawn.Desired Settlement: I would like a refund for the bogus charges they charged me because of there so called opt out system which I have opted out for 3 times now. Isn't [redacted] bank going through a lawsuit right now because they did the same thing to their customers? They gave them some bogus plan and still charged the overage charges? I think this should be investigated to the full extent. You can not tell someone their available balance is this $xxxx and tell them the next day they do not have funds available.

Business

Response:

{Please see attachment.}

Review: There were unauthorized charges posted to my checking account in which I immediately reported to the bank upon learning of those changes. The bank agreed to processed claims to the merchants and failed to do so based on poor judgment. The bank refused to contact the merchants in order for me to get my refund. The claims department is convinced that I purposely gave permission to someone to use my card and I did not. The claims department is insisting that I pay the outstanding balance of $504 or else my account will be sent to collections. I did not authorize those transactions and the bank isn't taking necessary actions to get refunded.Desired Settlement: Sovereign bank should properly investigate my claims and refund my money and waived the overdraft fees currently applied to my account.

Business

Response:

{Please see attachment.}

Review: Charged three overdraft charges ($35 each) on transactions that were attempted on a closed account.

On August 15th, 2014 I went to a Santander branch in New York to close a checking account. I kept my savings account open and transferred remaining accounts in my checking to my savings. While I was there I asked if the bank account was closed and if any charges were made if they would be declined. I was ensured they would. No one told me that if some charge was accidentally made to the account that it would then re-open the account.

I had an [redacted] and [redacted] account still set to the debit card associated with the closed checking account. [redacted] made a deposit to my account and that re-opened my account. Not one representative at Santander told me that an attempted transaction where then re-open my account. [redacted] then made a withdrawal and that's when the first overdraft fee was made.

I then made a purchase and the system was accidentally set to my old debit card. The company declined the transaction, but because the transaction was attempted I incurred another overdraft fee.

I will gladly pay any balance left on my account which is $2.51. But I do not find these overdraft fees necessary.Desired Settlement: I would like the $70.00 overdraft fees taken off of my bank account.

Business

Response:

October 6, 2014Dear [redacted]:Thank you for your September 4, 2014, inquiry submitted to the Revdex.com of Metro Washington DC and Eastern Pennsylvania (Revdex.com). We received your inquiry from the Revdex.com on September 25, 2014, and as a representative of the Bank, I have been asked to respond.We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Santander Bank, N.A. (Santander) to provide exceptional customer Service and to thoroughly review matters raised by our customers. It is my understanding that you have concerns regarding transactions that posted to your checking account ending in [redacted], after you requested for the account to be closed, and overdraft fees that were subsequently assessed to the account.First and foremost, on behalf of the Bank, I wish to offer my sincerest apologies for your experience and for any inconvenience that you have encountered as a result of this matter. Please be assured that this situation has been reviewed and addressed by the appropriate management personnel.In researching your concerns we have determined that no transactions should have posted to the account after August 15, 2014, which is the date that you indicated you requested the account to be closed. Regrettably, it appears that due to an oversight, the closure of your account was not processed correctly and thus, the account remained open. Because the account remained opened, automatic transactions that you had Set-up on the account continued to be processed. This resulted in Several overdrafts and overdraft fees to be assessed to the account. AS a result of this error, all of the fees that were assessed to your checking account on October 2, 2014, have been refunded. Your checking account was closed, and the closing proceeds for $87,38 were credited to your existing Savings Account ending in [redacted]. The $87.38 deposit will be reflected on your next Savings Account Statement.Thank you for taking the time to share your concerns and for allowing me the opportunity to address them. Should you have any additional questions in regard to this matter, you may contact Lance S[redacted], Retail Network Relations Analyst, at ###-###-####.Sincerely,

Consumer

Response:

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]

I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Thank you so much for you help!

Regards,

Review: I closed out my checking accounts with them due to non response and regarding credit back to my accounts. I went to several branches and was met wit horrible non friendly or helpful staff. I called the main number to close out my account. I specifically told them to mail my refund check to my po box address and verified the mailing address with the customer service rep. It is now almost 1 month later and I still have not received my check and was told when I called that it was not mailed to the po box as I requested. I now have to wait another 7-10 days because this bank does not monitor their supposedly recorded calls or what the actual customer is requesting to be done. I will never recommend or refer this company to anyone,Desired Settlement: my check sent immediately to my po box

Business

Response:

August 12, 2014Dear [redacted]:Thank you for your correspondence that was submitted to the Revdex.com of Metro Washington DC and Eastern Pennsylvania (Revdex.com). The Revdex.com forwarded your inquiry to Santander Bank, N.A. (Santander) on July 28, 2014, and as a representative of the Bank, I have been asked to respond. We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Santander to thoroughly review matters raised by our customers.First and foremost, I would like to apologize for the length of time that it has taken to resolve this matter. At Santander, we take these issues very seriously and work hard to deliver exceptional Service to our customers. Please be assured that the details of this situation have been shared with the appropriate management team to ensure a better experience for our customers in the future.It is my understanding, that you requested your account to be closed, and the available balance be mailed to your P.O. Box address. However, the check was mailed to your physical address, and as of the date of your inquiry, you have not received the check.On August 5, 2014, you discussed your concerns with Mr. Anthony C[redacted] in the Santander Customer Relations Department. You confirmed that a replacement check was mailed to you on July 30, 2014, in the amount of $13.95, which you received. This check represents the closing transaction of your checking account ending in 3884. During the conversation, Mr. C[redacted] also informed you that we had identified the error that caused the original check to be sent to your physical address.Again, please accept my apology on behalf of Santander for any inconvenience that you experienced in regard to this matter. We regret to hear that you have terminated your relationship with us.We thank you for taking the time to share your concerns and for allowing me the opportunity to address them. Should you have further questions in regard to this matter, please feel free to contact Mr. C[redacted] at ###-###-####.Sincerely,Ann GVice President - Manager, Customer Relations

Review: First off I would like to say that for my place of work I do deposits with another bank in the area. Saturday deposits area available no later than Tuesday morning. I made a $3500 (approximate) deposit on Saturday 4/5/14 to pay a $3000 lawyer retainer fee. The retainer check was cashed on Tuesday afternoon. Shortly after that was cashed a group of apparently pending debit and credit transactions from previous days posted all in a row resulting in four $35 unavailable funds fees. I called and was told Santander bank can take up until Thursday to post my deposited checks. I feel that this is excessively too long to hold funds that can be verified electronically. I also feel that they supposedly posted these "pending" charges from days earlier all in a row to collect the $140 in fees. I politely called my local branch and the number on the back of my debit card and was treated very rudely. I was told to shut up and listen and that they could not help me out at all. I'm very disgusted with this banks practices and am switching banks promptly.Desired Settlement: I would like to have my $140 in fees assessed returned to me via a check. There is no reason why purchases from Saturday, Sunday, and Monday didn't post until Wednesday RIGHT after the $3000 check was taken out and they were still holding my deposit until Thursday.

Business

Response:

April 28, 2014Dear **. [redacted]:Thank you for your recent correspondence that was submitted to the Revdex.com (Revdex.com) on April 11, 2014. The Revdex.com forwarded your inquiry to Santander Bank, N.A. (Santander) on April 14, 2014, and as a representative of the Bank, I have been asked to respond.We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Santander to provide exceptional customer service and to carefully review matters raised by our customers.Although a Bank error has not occurred, as a courtesy, we have credited your account $70.00. You will see the credit as an adjustment on your next monthly statement. No further compensation will be forthcoming in regards to this matter.It is my understanding that you expressed concern regarding your checking account ending in [redacted]. You indicated your account recently incurred four (4) fees following a recent check deposit. You also indicated that when you contacted your local branch, you received less than satisfactory service when you requested to be provided a refund for the fees that your account incurred. Lastly, you requested that the Bank provide you’re a refund in the amount of $140.00.In researching the concerns that you presented, we found that on Saturday April 5, 2014, the beginning balance of your account was $973.20. On that same day, a check deposit in the amount of $ 3,567.20 was credited to your account. Although the deposit was posted to your account, the funds from the check were not yet available to pay items that were presented for payment against your account.In accordance with Santander’s Funds Availability Policy, $200.00 from your check deposit of $3,567.20 made on Saturday April 5,2014 was available for you to use on April 8, 2014. The remaining funds from the check deposit were made available for your use on Wednesday, April 9, 2014. It should be noted that when a deposit is made, the receipt that is provided to you at the time you make a deposit reflects the available balance of the account, including any funds that may be immediately available from the deposit. Eight (8) items, totaling $272.73, were presented for payment against your account Monday, April 7, 2014. The ending balance in your account that day was $700.47. The beginning balance of your account on Tuesday, April 8, 2014 was $700.47. On that same day, four (4) items totaling $3,025.96 were presented for payment against your account. Because the items were presented against unavailable funds, your account was assessed four (4) unavailable funds fees. The ending balance for your account that day was -$2,325.49.To help assist you in determining the availability of deposits you make, for your convenience, enclosed are copies of our Personal Deposit Account Agreement (PDAA) and a Personal Deposit Fee Schedule (PDAFS), which were provided to you when your checking account was opened. The Funds Availability Policy can be found beginning on page 13 of the PDAA. The Funds Availability Policy is also on display in our branch locations at the teller line, where deposits are accepted. As provided by applicable federal law, the Bank is permitted to delay making the funds from a check deposit available to enable the Bank time to collect the check before the proceeds are made available to the customer.I am also enclosing a Simple Facts brochure for your Santander Preferred Checking account, which also explains how fees are assessed to your account, in a simple and straightforward manner.Your concerns regarding the level of service that you received from our [redacted] branch location have been forwarded to the management of the appropriate area in order to ensure a better experience for our customers in the future.The fees that were assessed were correct and a bank error did not occur. As mentioned above, we have agreed to waive half the fees incurred in the amount of $70.00. No further fee refunds will be forthcoming.Thank you for taking the time to share your concerns and for allowing me the opportunity to address them. If you have any additional questions, in regard to this matter, please feel free to call the Customer Contact Center at ###-###-#### or your visit local branch.You are a valued customer and we appreciate that you have chosen to bank with us. We look forward to assisting you with all of your financial needs, now and in the future.Sincerely,

Review: My company, [redacted], has had a checking account with Sovereign Bank since 2003. When I first opened this account, it was classified as a Free Checking Account with no added fees.In May 2013, Sovereign Bank changed the designation of this account to a non-free checking account. Since that date, I have received close to $700 in fees due to the change to non-free checking. I did not receive any paperwork informing me that the bank had altered my checking account status, nor have I signed any document acknowledging that my account was no longer Free Checking.Desired Settlement: I would like to be reimbursed for the amount that I have been charged in fees related to my checking account.

Business

Response:

September 11, 2013

Dear **. [redacted]:

Thank you for your August 15, 2013 correspondence submitted to the Revdex.com. The Revdex.com forwarded your inquiry to Sovereign Bank, and it was received on August 19, 2013. As a representative of the Bank, I have been asked to respond.

We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Sovereign Bank to provide exceptional customer service and to carefully review matters raised by our customers.

It is my understanding that you are disputing the fees your account ending in numbers [redacted] has incurred since the account type was changed by Sovereign Bank without notice to you. You would like to be reimbursed for all the fees you have been charged since the account type was changed.

Beginning March 25, 2013, we began notifying our customers of upcoming product line changes by mailing letters. One of the changes is the discontinuation of the Free Business Checking account, which is the account type you maintained. For customers in this account type, the account was migrated to a business account that we now offer. The change was effective May 1, 2013. Enclosed for your convenience is a copy of the letter notification.

At account opening, multiple documents are provided to our business customers, including the Business Deposit Account Agreement (BDAA), which contains the terms and conditions that apply to business deposit accounts at Sovereign Bank. The BDAA is also available at any branch office. The BDAA discloses that we reserve the right not to offer all types of accounts at all times. We may discontinue offering a type of account at any time without notice. However, we generally notify customers about account changes in advance through letters and/or statement messages or inserts. As stated above, we notified customers by letter.

The BDAA also explains that your account may be subject to regular service fees as well as miscellaneous fees and charges. The fees and charges are listed in the Business Deposit Account Fee Schedule (BDAFS), which is provided at account opening and is subject to change. In opening your account, you agreed to pay the fees and charges that apply to you. It should be noted that even before your account type was changed from a Free Business Checking account to a Business Checking account, the fees and charged listed in the BDAA applied.

The decision to stop offering a particular account or increase fees is never easy and is only determined after careful consideration. We periodically conduct competitive product reviews and then make informed changes that will continue to provide our customers with value added products and services by offeringconsumers the right products, competitive deposit and loan rates, and improved customer service through our ongoing system enhancements.

Although you did not specify the fees you are disputing, the only new fee that would apply to your account was the $15.00 monthly fee, as outlined in the letter. As a courtesy to our customers, the first monthly fee was waived. However, a review of your account shows that your average daily balance was well above the minimum $5,000.00 requirement necessary to avoid the fee. As a result, the monthly fee was never assessed. We have determined that any other fees which were assessed to your account are valid and not the result of a bank error. For these reasons, we will not be accommodating your request for a refund.

Our records indicate that you closed your account on August 29, 2013, and the remaining balance was provided to you in the form of a Sovereign Bank Official Check.

Thank you for bringing your concerns to our attention and for giving me the opportunity to address them. If you have any further questions regarding your accounts, please call the Business Customer Contact Center at 1-877-768-1145 or visit your local Sovereign Bank branch office.

You are a valued customer and we appreciate that you have chosen to bank with us. We look forward to assisting you with all of your financial needs, now and in the future.

Sincerely,

Review: Attempted an ATM deposit on 7/31/14. The ATM shut off mid transaction and withheld two checks totaling $149.98. At that time the bank was unable to retrieve the check, they stated the checks would be deposited as soon as they were retrieved. However, the checks were not deposited despite multiple followup visits and phone calls. They had copies of the checks, which were retrieved from the ATM at the local branch. After telling me they had taken the correct steps, they directed me to corporate offices. After multiple calls, hours on the phone, and not a single employee at Santander returning a phone call or solving the problem, we finally were given a credit to our account. However, the bank then removed the credit, issuing a letter stating they had made no error. After return visits to the bank, along with copies of checks from issuing banks, Santander finally admitted their error inputing an incorrect ATM number, however, we have still not received our money and consider this theft.Desired Settlement: We want our money back and a sincere apology for the lack of understanding & care regarding this issue.

Review: I deposited a city of New York check into my checking account and had a balance of almost $2,000.00. Santander changed me a $35 overdraft fee 5 times in one day, deducting $175 from my account, stating that the check did not clear, so there were insufficient funds. I contacted customer service and they would not refund the overdraft fees to my account.Desired Settlement: I want the $175 in overdraft fees restored to my account.

Business

Response:

May 19, 2014Dear [redacted]:Thank you for your recent correspondence submitted to the Revdex.com of Metro Washington DC and Eastern Pennsylvania (Revdex.com). The Revdex.com forwarded your inquiry to Santander Bank, N. (Santander) on May 12, 2014, and as a representative of the Bank I have been asked to respond.We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Santander to provide exceptional customer Service and to carefully review matters raised by our customers. We have credited your account for one (1) $35.00 fee for a portion of the fees your account was assessed.In your correspondence you stated that you deposited a check into your account, however your account incurred five (5) $35.00 fees in one day. You have requested to be refunded for the fees.We make the first $200.00 of all checks you deposit on a business day, available for withdrawal and to pay debits on your account on the first business day after the day of deposit. We make these funds available to you in accordance with our Funds Availability Policy. The Funds Availability Policy is disclosed in our Personal Deposit Account Agreement (PDAA), which you would have received at account opening. For your convenience I have enclosed a copy for your review.You mentioned in your correspondence that you were charged five (5) $35.00 fees in one (1) day after making a deposit into your account.Our records indicate that on April 28, 2014, the beginning available balance for your checking account ending in 0567 was 1,106.80. That same day a deposit was made for 2,235.55. In accordance with our policy, 00.00 was available for withdrawal or to pay debits on the account that same day. Otherwise, 200.00 was available on Tuesday April 29, 2014, to withdraw or pay debits that were presented to the account for payment.On April 28, 2014 eighteen (18) items were presented for payment totaling $1,311.59, which exceeded your available balance of $1,106.80. Your transactions were paid, but you did not have sufficient available funds in your account to cover one (1) of the transactions, which resulted in your account being assessed a $35.00 unavailable funds fee for one (1) out of the eighteen (18) transactions.On April 29, 2014, the beginning available balance for your checking account was negative $239.79. On the same day $200.00 from your deposit made on April 28, became available. This brought your account balance to negative $39,79. On April 29, you had an additional four (4) items presented for payment totaling $575.00. All four (4) of these transactions exceeded your available balance. Again, your transactions were paid, however you did not have sufficient available funds in your account to cover the four (4) transactions. As a result, your account incurred four (4) $35.00 unavailable funds fees.Although, a bank error has not occurred as a courtesy you were refunded $70.00 which represents a refund for the two (2) $35.00 fees your account incurred. This credit was applied to your account on May 5, 2014. In addition, we have credited your account for one (1) additional $35.00 fee that your account was assessed.Thank you for taking the time to share your concerns and for allowing me the opportunity to address them. If you have any additional questions in regard to this matter, you may contact [redacted] of the Customer Relations Department at [redacted].You are a valued customer and we appreciate that you have chosen to bank with us. We look forward to assisting you with all of your financial needs, now and in the future.Sincerely,

Review: On 9/2/13 I made a payment on my Sovereign credit card through Sovereign's automated system. I was not sure if the payment went through because it did not give me a confirmation. I tried to speak to someone but the bank was closed because of Labor Day. The next day I called Sovereign's call center and spoke to someone. They told me that the payment did not go through and to make another one. So I made a payment with the representative. On 9/4/13, Sovereign debited my bank account twice causing my bank account to overdraft due to their error. I called them and finally they returned the $1000 overpayment by check. They told me that they might be able to get the money that my bank overdrafted me. I told them that I wanted them to give me the $105 that my bank overdrafted me because it was an error on their part. I have been in contact with a representative from Sovereign bank but nothing has been done yet as for my overdraft fees. It has been over a month and I still have not received a response from them.Desired Settlement: I want Sovereign to refund the $105 my bank charged me in overdraft fees because they debited my account twice.

Business

Response:

November 4, 2013

Dear **. [redacted]:

Thank you for your October 19,2013 correspondence submitted to the Revdex.com (Revdex.com). The Revdex.com forwarded your inquiry to Santander Bank, N.A. (Santander), formerly Sovereign Bank, N.A., and it was received on October 28, 2013. As a representative of the Bank, I have been asked to respond.

We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal to carefully review matters raised by our customers.

It is my understanding that due to the Bank’s error, two (2) payments were debited from your checking account, causing overdraft fees to be assessed. You would like a refund in the amount of $ 105.00 for the fees you incurred.

First and foremost, I would like to apologize for the inaccurate information you were provided. At Santander, we take these issues very seriously and work hard to deliver exceptional service to our customers. In this case, we have fallen short of our own standards. Please be assured that the details of this situation have been used for coaching and training purposes, to ensure a better experience for our customers in the future.

Our records indicate that you had made a payment using our automated system on September 2, 2013 to your Sphere Credit Card account ending in numbers [redacted]. However, you stated that you did not receive a confirmation number. You then called Santander’s Customer Contact Center (Contact Center) on Tuesday, September 3, 2013, to question if the payment was successful. The advisor with whom you spoke was unable to see the payment from the previous day. Due to the holiday on Monday, the payment was no longer a pending transaction. As a result, the advisor offered to take another payment over the phone, to which you agreed. Instead, the advisor should have instructed you to wait another day to see if the payment posted prior to making another payment.

The first payment was successful, which caused two (2) payments to be debited from your account for the posting date of September 3, 2013. The additional payment was returned to your bank account on September 6, 2013.

We understand that, due to this double payment, your account became overdrawn and incurred overdraft fees assessed by your bank, [redacted]. Please present this letter to [redacted] as proof that the second debit was processed in error and that you should not be held responsible for the fees. If [redacted] is reluctant to reimburse you for these fees, please contact [redacted], Santander Contact Center

Tearn Manager, at ###-###-####.

For future reference, please be advised that we do not provide confirmation numbers for payments made over our automated telephone banking system, as you may have been accustomed with when using FIA Card Services. Payments will be credited on the date they were made (if before 5 p.m.) or the next business day if made on a holiday or a weekend. However, it may take up to two (2) business days to be debited from your account.

Again, please accept my apology on behalf of Santander Bank for any inconvenience you have experienced.

Thank you for taking the time to share your concerns and for allowing me the opportunity to address them. If you have any additional questions in regard to this matter, please feel free to contact **. [redacted] at the phone number provided above.

You are a valued customer and we appreciate that you have chosen to bank with us. We look forward to assisting you with all of your financial needs, now and in the future.

Sincerely,

Review: Sovereign bank ran a promotion during the month of April that stated "Shop 5 times in April and get $10 back. By using there sovereign debit [redacted] 5 times between april 1 and april 30th, your $10 reward will be automatically credited on your statement". After the end of the month we went into the bank and asked why it hadn't been credited and were informed as to the small print which stated that. "The reward will be credited to the customer's checking account linked to his debit [redacted] used to make the qualifying purchases within 120 of end of promotion." 120 days would have put the end of the promotional period at August 28th. As of today the money has still not been added to the account and after calling the company they state that the money won't be added until October 15th. During attempting to have this corrected Sovereign bank I was hung up on twice and received no resolution. I have had repeated problems with Sovereign and [redacted] bank with incorrect interest accrual, fees being charged due to misinformation and bait and switch tactics for there triple interest program, and poor online and phone service. I am unwilling to wait for the 15th of October because I am closing my accounts with this company due to there unbelievable incompetence and lack of ethics.Desired Settlement: The desired outcome is to be mailed a check for the $10 plus money for the expenses, inconveniences and effort that has been necessary to track down this and have it corrected as well as the $13 that was charged due to the bank overdrafting my account due to no fault of my own and the $39 in wire transfer fees that were not disclosed by the bank manager when asked about closing accounts from an affiliate companys mutual fund and adding them back into my sovereign bank accounts.

Business

Response:

October 1, 2013

Case Number - [redacted]

Dear **. [redacted]:

Thank you for your recent correspondence that was submitted to the Revdex.com (Revdex.com) on September 18, 2013. The Revdex.com forwarded your inquiry to Sovereign Bank on September 27, 2013, and as a representative of the Bank, I have been asked to respond.

We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Sovereign Bank to provide exceptional customer service and to carefully review matters raised by our customers.

It is my understanding that you expressed concern regarding a debit card promotion that the Bank offered between April 1, 2013 and April 30, 2013. You indicated that you fulfilled the requirements of the promotion, however, your account ending in 6644 was not credited the $10.00 after fulfilling the promotion. You also indicated that while speaking with representatives in our Customer Contact Center regarding the promotion, your telephone calls were ended without a representative providing you a resolution. You mentioned that you had encountered difficulties with the Bank regarding the interest accruals for your Triple Your Interest Savings account. Lastly, you requested to be provided a check in the amount of $62.00 which represents the $10.00 debit card promotion, $13.00 sweep fee that was assessed to your account in relation to overdraft protection, and $39.00 in incoming wire transfer fees that were assessed to your account.

Further research was conducted to address the concerns you raised in your recent correspondence and for your convenience, I have added this supplementary information in the attached document.

Thank you for taking the time to bring your concerns to our attention and for giving me the opportunity to address them. We appreciate the opportunity to have provided you our products and services. We would be pleased for the opportunity to assist you with any future banking needs that you may have.

Consumer

Response:

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

Review: [redacted]

I am rejecting this response because:

Whether or not the debit card was correctly used I was personally misled by your company on many occasions. I have terminated my business with you do to the fact that you purposely mislead your clientele and fail to do the basic tenants of your practice. Which is to safeguard peoples finances in order to make both your client and your business money. Sovereign and its transition to [redacted] have greatly inconvenienced me and others with misleading advertisements, banking errors and poor customer service. I work as a manager at a company and understand that many times customers have issues that are out of our control, but would never inconvenience someone over something so small as 10$ especially for such a long period of time. I sincerely suggest that your company fix its ways of treating customers or I would get out of this business as your company is not very good at it. I rarely see people use your business in person or its credit card at my work.... Perhaps its because of the reasons I mentioned above. I could honestlycare less what your response is as its my own fault for continue to bank with a company that treated me so poorly. I wish you luck with your dwindling business and truly hope that you never try to buy the bank that I'm with now.

Regards,

Review: They closed my account without my knowledge because it overdrew my account. This has been happening for months and this has never happened before. Now they have all money $1295.72 from this deposit.. I need this money to pay my bills. I am going to be evicted and I need to buy food. On 9/3 at the local branch they said I should have it within 7-10 business days. It never came. I went back to the branch and they had moved. They said because of that they were going to have to send another check and I should have it by 9/18. It is 9/19, I do not have it. Bank acct [redacted]Desired Settlement: I want and need my money now.

Business

Response:

October 7, 2013

Dear **. [redacted]:

Thank you for your correspondence submitted to the Consumer Financial Protection Bureau. The Bureau forwarded your inquiry to Sovereign Bank on September 19, 2013. On September 30, 2013, we also received your September 26, 2013 correspondence submitted to the Revdex.com. As a representative of the Bank, I have been asked to respond.

We appreciate your inquiry and can assure you that this matter has been carefully researched in order to assist you. It is our goal at Sovereign Bank to provide exceptional customer service and to carefully review matters raised by our customers.

It is my understanding that your checking account ending in numbers [redacted] was closed due to a sustained overdrawn balance. You stated that this Was done without your knowledge. In addition, you have not received the check you were advised you would receive, and you need the funds immediately. You would like them sent to you by e-mail.

Our records indicate that your checking account became overdrawn on July 1, 2013. Sovereign Bank ' typically allows an account to remain overdrawn for 35 days before it is closed with a negative balance. Although your account had a negative balance previously for days at a time, this time, your account remained at a negative balance and never became positive again. We closed your account on August 7, 2013 at which time your account had a negative balance in the amount of $892.08. Sovereign Bank reported the closure of your account with a negative balance to Chex Systems, a consumer-reporting agency governed by the federal Fair Credit Reporting Act (FCRA).

You stated that the account was closed without your knowledge. On the fifth day that an account is overdrawn, our Collections department mails a letter to notify you of your overdrawn account.

Subsequent letters are mailed on the 12th and 20th day that the account is overdrawn. After the account is closed, another letter is mailed to notify of the closure. Our records indicate that our Collections department attempted to contact you by telephone numerous times but was unsuccessful in reaching you due to an invalid telephone number on file. Consequently, no messages were left. In addition, we mailed • your monthly account statement to you which reflected that your account was overdrawn.

Our Automated Clearing House (ACH) department received a deposit in the amount of $2,187.80 from the Commonwealth of Massachusetts on August 26, 2013, with an effective date of August 30, 2013, which is effectively the date of deposit. Because your account was closed at this point, the direct deposit was rejected on September 3, 2013 and was forwarded to our Collections department.

The turnaround time for remaining funds to be issued to a customer after a negative balance is satisfied for a closed account is approximately seven (7) to 10 business days. The funds were applied to the negative balance of your checking account on September 9, 2013. Once the debt was satisfied, a balance in the amount of $1,295.72 remained. A check was issued in the amount of $1,295.72 on September 19, 2013, and was mailed via certified mail to your address reflected at the top of this letter. Additionally, we updated Chex Systems to reflect that the account is now paid in full.

Thank you for bringing your concerns to our attention and for giving me the opportunity to address them. If you would like to contact Sovereign Bank in the future, please call our Customer Contact Center at 1-877-SOV-BANK (1-877-768-2265) or visit your local Sovereign Bank branch office.

Sincerely,

Review: Went to local branch in [redacted] ri to close out my account. I asked the bank representative to wire the balance in my account to my new bank which is usaa. The bank rep. Let me know that there was a fee to wire the money and I agreed. She told me how much was in my account minus the wire fee and she went ahead and transferred the money. She accidentally hit a 7 on her keyboard instead of a 0 and wired a extra 7 dollars to my new account. She or I didn't know that this happened at the time of transaction until I received letters from sovereign bank saying 7 extra dollars went into my new account and I had to pay a 40 dollar penalty for over drafting my account . I get receiving letters and messages from corporate saying if I don't pay the fee more fee would accure. I spoke with [redacted] at my bank and she agreed that it was the banks fault and I should pay the fee to stop more fees from accruing and she would fight to get my money back. This has been going on for over a month and she said they won't refund my money because I am no longer a customer. She keeps sending corporate letters and they keep refusing. She is still trying but I feel this should have been resolved. I have all the proof that it was the bank at fault and this is a great injustice. I was a great customer for over ten years with no issues ever from me. I consider what they did the same as stealing.Desired Settlement: I want the money that I wrongly had to pay in order for my credit to not be affected to be returned to me.

Business

Response:

{Please see attachment.}