Think Mutual Bank

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me.? Think was great to work with! I only wish they would have been more responsive on my first communication

To help protect our customer's accounts and maintain the integrity of our records, we attempt to contact owners of accounts with no activity over an extended period of time as these inactive accounts are at a higher risk of being targeted for fraudDue to this additional monitoring on accounts to protect our customer from risk of fraud, we have implemented the $fee to help cover the costsWe would like to assure Mr [redacted] that as an organization we feel that it is very important to provide transparency to our customers regarding the fees we charge, and because of this we take steps to ensure that our customers are aware of any potential fees in advance on incurring themIn regards to Mr***'s specific situation, a notice was included in his December 31, statement to inform him that beginning February 1, a dormant account fee of $per month would be charged to accounts with no activity for a period of two yearsThis fee will be charged until there is activity on the account, the account balance is reduced to zero and closed, or the account is turned over to the state as abandoned propertyIn addition, letters were sent to the address that we have on file for Mr [redacted] on February 16, to inform him that his accounts with Think had been inactive for almost two years and would soon become dormant, and on April 18, to inform him that the accounts were now in a dormant statusAt this time we believe that we took sufficient steps to notify Mr [redacted] of both the impending dormancy of his accounts and the fees that he may incur In regards to the refund of the fees that were assessed, the representative that Mr [redacted] previously spoke with has confirmed that a partial refund of the dormant fees was offered but refused as this was not the full amount requestedBecause of this, a refund was not issued at the time of account closureHowever, we truly regret the frustration that this situation has caused and would like to offer the refund of fees that has been requestedWe will contact Mr [redacted] directly to facilitate this refund

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me

I am rejecting this response because: Interesting response. I asked for the fees to be returned to me and their response is I rejected them. They put their minds together and came of with this? I think we see a pattern developing here from the previous complaints and mine that they might want to address, and that is a lack of due diligence on notifying the customer and excessive fees. If they feel an account is dormant then they should try all means available to contact the consumer (mail, email, phone). They have all the information to do this. If they cannot contact the owner then there are laws established under which unclaimed property is turned over to the state.

In regards to complaint #***, during the week of February 27th the customer was able to discuss his complaint with both the VP of Business Banking and E-Banking Manager A reimbursement was issued for the fees incurred at the other financial intuition, and the customer was satisfied with
this resolution In addition, the customer was contacted on March 6th by the AVP of the Customer Support Center who was able to confirm that the customer is still satisfied with the resolution and plans to update his complaint with the Revdex.com to reflect this fact.

I am rejecting this response because:
Interesting response. I asked for the fees to be returned to me and their response is I rejected them. They put their minds together and came of with this? I think we see a pattern developing here from the previous complaints and mine that they might want to address, and that is a lack of due diligence on notifying the customer and excessive fees. If they feel an account is dormant then they should try all means available to contact the consumer (mail, email, phone). They have all the information to do this. If they cannot contact the owner then there are laws established under which unclaimed property is turned over to the state

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me. Think was great to work with! I only wish they would have been more responsive on my first communication

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me. Think was great to work with! I only wish they would have been more responsive on my first communication

To help protect our customer's accounts and maintain the integrity of our records, we attempt to contact owners of accounts with no activity over an extended period of time as these inactive accounts are at a higher risk of being targeted for fraudDue to this additional monitoring on accounts to
protect our customer from risk of fraud, we have implemented the $fee to help cover the costsWe would like to assure Mr*** that as an organization we feel that it is very important to provide transparency to our customers regarding the fees we charge, and because of this we take steps to ensure that our customers are aware of any potential fees in advance on incurring themIn regards to Mr***'s specific situation, a notice was included in his December 31, statement to inform him that beginning February 1, a dormant account fee of $per month would be charged to accounts with no activity for a period of two yearsThis fee will be charged until there is activity on the account, the account balance is reduced to zero and closed, or the account is turned over to the state as abandoned propertyIn addition, letters were sent to the address that we have on file for Mr*** on February 16, to inform him that his accounts with Think had been inactive for almost two years and would soon become dormant, and on April 18, to inform him that the accounts were now in a dormant statusAt this time we believe that we took sufficient steps to notify Mr*** of both the impending dormancy of his accounts and the fees that he may incur
In regards to the refund of the fees that were assessed, the representative that Mr*** previously spoke with has confirmed that a partial refund of the dormant fees was offered but refused as this was not the full amount requestedBecause of this, a refund was not issued at the time of account closureHowever, we truly regret the frustration that this situation has caused and would like to offer the refund of fees that has been requestedWe will contact Mr*** directly to facilitate this refund

In our previous response a full refund of fees assessed was offered to Mr*** , which means that the final amount credited for the closure of these accounts will be restored to his pre-dormancy balancesWe attempted to contact the customer on 10/11/2016, but as of this date the call has not been returnedWe continue to be more than willing to offer this refund of fees, and we invite him to contact our Customer Support Manager Amy at ###-###-####, ext*** to discuss the matter further

Dear ***,We spoke on 7/11/17 about the transactions on your account and clarified the posting rules of transactions on the account. I apologize for the miscommunication in regards to posting items to a checking account at account openingWe walked through the posting of
items and business days as opposed to calendar days. I will be following up with the parties here at Think to ensure a great customer experience. You stated you have enjoyed banking with Think and we want you to know that we appreciate your business. Thank you for your feedback.Daniel, CSR Manager, Think Mutual Bank

Dear [redacted],We spoke on 7/11/17 about the transactions on your account and clarified the posting rules of transactions on the account.  I apologize for the miscommunication in regards to posting items to a checking account at account opening. We walked through the posting of...

items and business days as opposed to calendar days.  I will be following up with the parties here at Think to ensure a great customer experience.  You stated you have enjoyed banking with Think and we want you to know that we appreciate your business.  Thank you for your feedback.Daniel, CSR Manager, Think Mutual Bank

I am rejecting this response because:
Interesting response.  I asked for the fees to be returned to me and their response is I rejected them.  They put their minds together and came of with this?   I think we see a pattern developing here from the previous complaints and mine that they might want to address, and that is a lack of due diligence on notifying the customer and excessive fees.  If they feel an account is dormant then they should try all means available to contact the consumer (mail, email, phone).  They have all the information to do this.  If they cannot contact the owner then there are laws established under which unclaimed property is turned over to the state.

To help protect our customer's accounts and maintain the integrity of our records, we attempt to contact owners of accounts with no activity over an extended period of time as these inactive accounts are at a higher risk of being targeted for fraud. Due to this additional monitoring on accounts to...

protect our customer from risk of fraud, we have implemented the $5 fee to help cover the costs. We would like to assure Mr. [redacted] that as an organization we feel that it is very important to provide transparency to our customers regarding the fees we charge, and because of this we take steps to ensure that our customers are aware of any potential fees in advance on incurring them. In regards to Mr. [redacted]'s specific situation, a notice was included in his December 31, 2013 statement to inform him that beginning February 1, 2014 a dormant account fee of $5.00 per month would be charged to accounts with no activity for a period of two years. This fee will be charged until there is activity on the account, the account balance is reduced to zero and closed, or the account is turned over to the state as abandoned property. In addition, letters were sent to the address that we have on file for Mr. [redacted] on February 16, 2016 to inform him that his accounts with Think had been inactive for almost two years and would soon become dormant, and on April 18, 2016 to inform him that the accounts were now in a dormant status. At this time we believe that we took sufficient steps to notify Mr. [redacted] of both the impending dormancy of his accounts and the fees that he may incur.
In regards to the refund of the fees that were assessed, the representative that Mr. [redacted] previously spoke with has confirmed that a partial refund of the dormant fees was offered but refused as this was not the full amount requested. Because of this, a refund was not issued at the time of account closure. However, we truly regret the frustration that this situation has caused and would like to offer the refund of fees that has been requested. We will contact Mr. [redacted] directly to facilitate this refund.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.

In regards to complaint #[redacted], during the week of February 27th the customer was able to discuss his complaint with both the VP of Business Banking and E-Banking Manager.  A reimbursement was issued for the fees incurred at the other financial intuition, and the customer was satisfied with...

this resolution.  In addition, the customer was contacted on March 6th by the AVP of the Customer Support Center  who was able to confirm that the customer is still satisfied with the resolution and plans to update his complaint with the Revdex.com to reflect this fact.