Let’s say you have some valuable things you don’t want to keep in your home, so you take out a safety-deposit box at your neighborhood bank. The bank manager leaves you alone in a transaction room to deposit your items, and you discover that your brand-new box isn’t empty. There’s money in it. $100,000 in cash.
Yesterday, we told you about the Massachusetts man who withdrew $1,800 from Sovereign Bank, then took it over to pay his mortgage at Citizens Bank, only to have $1,400 of it confiscated for allegedly being counterfeit cash. Except it wasn’t. [More]
As anyone who watches enough house-hunting shows on HGTV is aware, the short sale process can sometimes drag on for several months as the bank that holds the mortgage drags its feet on approving the sale and reviewing paperwork. But one reader tells Consumerist her home has been under contract for a short sale since November 2010 because Sovereign Bank takes so long to process the paperwork that by the time it finishes, it needs to start all over again with more up-to-date documents.
Millions of Americans have lost their homes in the last few years and — as any reader of Consumerist knows — the banks who foreclosed on those properties have also made more than their fair share of errors. Thus, starting today, 14 of the country’s largest mortgage servicers are contacting millions of foreclosed-upon former homeowners to offer them the opportunity to have their cases independently reviewed.
Chris’s dad gave him access to his personal and business accounts at Sovereign Bank a few years ago. Now that he’s remarried, the dad wants to take Chris off and replace him with his new wife. This seems like it would be simple enough, but Sovereign says, not so fast. They can’t remove Chris’s access to the accounts unless he dies.
ATMs exist for routine banking transactions…deposits, withdrawals, balance inquiries, opting out of overdraft protection. Wait, what? GitEmSteveDave noticed, but didn’t test, this option on a Sovereign Bank ATM. “I wonder how many people hit the button by accident and end up giving their rights up,” he writes. Convenient, or dangerous?
Word is Sovereign Bank and National City Corp are “next on the FDIC’s to-do-list.” [Clusterstock]
Concerned about identity theft, Seth had a fun time recently when he tried to get Sovereign bank to tell him why they need to record his driver’s license number when he withdrew $2.75. The teller kept saying, “It’s our policy,” but even when they finally showed the policy in writing, it only said “must record form of ID” and nothing about writing down license numbers.
Ring ring, Mr. Banker, pick up the phone, we hit the stopwatch and hang up. Here are the results.
Today’s results in our week-long test of how long it takes banks humanoids to pick up the ring ring ring.
The results of today’s benchmark test to see how long it takes banks’ live humans to pick up the phone.
We’ll be calling up the banks this week to see who’s the quickest at having a human pick up the phone.