This bank has single-handedly caused the worst financial disruption our business has ever faced.
They placed a completely unexplained hold on our business accounts, locking us out of every dollar for over 10 days -- no notice, no timeline, no accountability. We couldn't pay vendors, employees, or bills. Their incompetence didn't just inconvenience us -- it nearly crippled our operations.
- I will state they have a right to place a 10 day hold on checks, but not CASH. That has a same day availability unless it is over 10k then it is available within 24 hours. It will be 10 days before I can even get access to the cash. That is breaking about a dozen Federal Reserve Laws and the FDIC,CSPB laws.
And the cause? Their own internal failure. We submitted all required documents twice, and their staff still failed to forward them to underwriting. This led to cascading issues and a hold that never should have happened in the first place. One operations manager actually told us their "policy" allows them to hold funds indefinitely. That's a blatant lie and a violation of federal banking regulations. We had no choice but to retain a commercial litigation attorney just to get basic answers.
The level of ignorance and negligence from their team -- including management -- is staggering. If this is how they treat established business accounts, I can't imagine how they treat individuals.
-ANN is the branch manager here and knows absolutely nothing about banking. THE WORST
We will be closing every account the second our funds are released, and we will never do business with them again. I wouldn't recommend this bank to my worst competitor. If you're considering banking here, do yourself a favor: run in the opposite direction. read more