- Report: #216659
Complaint Review: Webster Bank - Southington Connecticut
-
Author Confirmed
Why?
Webster Bank
359 Queen Street Southington, 06489 Connecticut, U.S.A.
Phone:
860-620-5562
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Webster Bank ripoff Gouges New Customers With Unjust Fees Southington Connecticut
My wife and I opened an account with Webster Bank in Southington, CT a couple of weeks ago. We reviewed the banks funds availability policy and felt we had everything down pretty well. Boy were we wrong! We made a deposit through the ATM machine. The receipt showed the amount which became available and we took the bank at it's word via the receipt. Well apparently the bank changed its decision once it processed the deposit and made the funds unavailable. However, they never notified us. Because of this change, the bank considered all of the transactions we made to be overdrafts and charged us a total of $120.00.
Because of these charges our bank account was depleted under the balance sufficient to pay several other outstanding transactions and we were charged an additional fee of $150.00. A total of $270.00 in just two days! I immediately deposited money to the bank to cover what we owed and maintain the account. In addition, I contacted Joyce Frac with whom we had opened the account. To my dismay she only offered to refund us a measly $60.00. I felt that since the bank had changed the availability of the funds without notification they should refund all of the fees but they refuse to do so. So, I'd like to post this issue on Ripoffreports.com in order to make others aware of this bank so they can chose a different bank.
Steve
East Hartford, Connecticut
U.S.A.
Because of these charges our bank account was depleted under the balance sufficient to pay several other outstanding transactions and we were charged an additional fee of $150.00. A total of $270.00 in just two days! I immediately deposited money to the bank to cover what we owed and maintain the account. In addition, I contacted Joyce Frac with whom we had opened the account. To my dismay she only offered to refund us a measly $60.00. I felt that since the bank had changed the availability of the funds without notification they should refund all of the fees but they refuse to do so. So, I'd like to post this issue on Ripoffreports.com in order to make others aware of this bank so they can chose a different bank.
Steve
East Hartford, Connecticut
U.S.A.
4 Updates & Rebuttals
Robert
Wallingford,Connecticut,
U.S.A.
Did the receipt give a posting date or availability date?
#2Consumer Comment
Sat, October 21, 2006
I guess what I am relying on is the bank I use prints out the posting date. The posting date is very different from the availability date. I am not sure how an ATM would be able to determine the availability date as it does not know if the deposit is cash, local or non-local check. It would have to be a very smart ATM.
Steve
East Hartford,Connecticut,
U.S.A.
My Receipt
#3Consumer Comment
Fri, October 20, 2006
Robert, please re-read my comlaint and take note of the following comment: "The receipt showed the amount which became available and we took the bank at it's word via the receipt". Thanks!
Kevin
Willmar,Minnesota,
U.S.A.
robert was right, but there's more to it
#4Consumer Comment
Fri, October 20, 2006
Robert was right about the holds of new accounts. But at the same time, if a bank decides to put a hold on your deposit, they do have to notify you. Physically at the teller window when you make the deposit, or otherwise if by mail, no later than one business day after the deposit was made. The technicality is with the ATM because that has no way of informing you of a hold, but I would imagine that someone within the bank would've been able to tell you. Call and fight for your fees.
Robert
Wallingford,Connecticut,
U.S.A.
Apparently you missed a section.
#5Consumer Comment
Fri, October 20, 2006
There should also be a section in your terms and conditions that explains the additional holds placed on deposits for new accounts (usually less than 30 days old). All banks have these additional holds.
