Complaint Review: Pioneer Bank & Trust - Belle Fourche, Buffalo, Rapid City, Spearfish South Dakota

Pioneer Bank & Trust went in Feb 16, 2011 and removed $5400.00 from our son's checking account.  They did this claiming they had the right to do so because years ago when our son opened his account he had his father place his name on the signature card in case of an emergency where our son could not access his money.  They left him with $54.00 to live off of for two weeks.

They stole the money in order to off set our personal loan.  The fact is that they stole Federal School Loan money our son had received for his schooling for his master's degree.  They also mailed out the notice of the withdrawl to both our son and ourselves so that nothing could be done until today, Feb 22, 2011, due to the federal holiday yesterday. 

Both notices were delivered on Friday Feb 18, 2011. Two days after the withdrawl.  It takes 1 day for mail delivery.

We approached the bank manager of the Belle Fourche Branch requesting the funds be replaced.  Which of course he said they wouldn't do.  The banker said that he had went through our son's account and decided that all the school funds had been spent and they took only his personal funds.

The banker decided his way that the money had been spent.  He did this to "make" it appear the way he wanted it to just to justicify the taking of the student loan money.  He actually has no clue how the money was spent or not spent.  He based it on his opinion and not the real facts.

Under the Master Promissory Note the government dictates how the money is borrowed and spent.  Not a banker setting back in a branch office trying to collect monies on a loan that is not associated with our son.

EDitor's Suggestions on how to get your money back!

HERE IS WHAT RIP-OFF REPORT SUGGESTS YOU DO:

Go to your bank within 60 days of the charge, or as soon as you know about the charge, don't delay, and tell them that there has been fraudulent activity within your account. Explain that you wish to file a dispute, and demand that they assist you in accordance with Federal Regulation E.

According to the majority of victims interviewed by Rip-off Report, those who immediately called their banks to dispute the charges did not get very far. Many victims got the following responses from their banks: “we could not do anything for you” or “you waited too long; it has been more than 60 days”.

If the bank is says that you have waited too long, explain to them how you called their 800 number as soon as the charges were found, and were told by the bank that nothing could be done. Remind the bank that they failed to assist you properly at the 800 #, and instead, provided you with an inadequate explanation of your right to dispute. Tell the bank that it's their fault time has expired, and since they gave you the wrong info to begin with, they will just have to deal with it, take the loss and reverse the charges.

Tell them the truth; this was unauthorized and your account was NOT to be charged! Keep emphasizing how you never authorized anything! Direct them to the hundreds of victims reports that were filed on Rip-off Report.com. And if you're at the bank, walk them over to their computer and make them go to this site! If you are on the phone with them, tell them you will wait while they access this site! Either way, be persistent!

DO NOT TAKE NO FOR AN ANSWER!

Let them know nicely, that you were advised to Report them (the Bank) and this situation to the Banking Commission in your state. Since each state has a different name for the agency/controller over banks, find that name before you call or get to the bank so you can throw it in their face. The more knowledgeable you appear to be, the further you will get.

And just continue to demand the Federal Regulation E form! The bank CAN, MUST and WILL reverse the charge! But, you must be persistent; ask to speak to the supervisor or the area manager for all the branches in the state.

Let the bank personnel know you are meeting with the media later in the day, that you would much rather they do the right thing (as most other banks have) by looking at the complaints and immediately reversing the charge(s) to your account; no matter how long ago it was. Be sure to call the Media if necessary so you are telling the truth.

If you have to, be loud (but nice) in front of other customers. If you are just calling by phone, the above tactics should still work. The bank can easily fax or mail to you the Federal Regulation E dispute form.

CHARGES TO YOUR CREDIT CARD

If the charge was to your credit card (not debit card, check card, or checking account), contact the credit card company as soon as possible to request a dispute form. Consumers usually have a little longer to dispute fraudulent credit card charges (up to 6 months), but it is better to act right away. In this type of situation, credit card disputes are usually successful since fraudulent companies often won't contest the disputed charge. In rare cases, credit card companies will review disputes, but refuse to reverse the charges. If this occurs, complain to a manager and let them know you will be filing a report here.

Remember… Don't let them get away with it! Make sure they make the Rip-off Report .. The more Reports filed on a Company or individual, the more likely it is that the authorities, media and attorneys will want to take action.

And good luck… Let us know how you do!

ED Magedson – Founder RipoffReport.com Author of www.ripoffrevenge.com

Rip-off Report PO Box 310, Tempe, Arizona 85280 Back in Aug 2009 the same banker went in and removed funds from our personal account to make a loan payment.  He had the right to do so on our account.  He didn't remove monies from the business account where there was plenty of funds but removed it from an account where he caused checks to bounce. 

The worst part of the matter was the lie that he stated on our bank statement that the funds were removed by "phone transfer".  No phone call was made to us prior to the withdrawl or following the withdrawl.  No phone call was even neccessary as the loan and checking accounts were located in the same Belle Fourche building of Pioneer Bank and Trust.  Lieing must have seemed to make it right.

It is our hopes that you can lend some kind of help in resolving the theft of our son's student loan monies.