Checking or savings account -- Opening an account -- Complaint #6221746
Complaint Overview
Complaint ID: 6221746
Company: Webster Bank, National Association
Product: Checking or savings account
Sub-Product: Savings account
Issue: Opening an account
Sub-Issue: Didn't receive terms that were advertised
State: Massachusetts
ZIP Code: 02130
Date Received: 2022-11-18T12:00:00-05:00
Date Sent to Company: 2022-11-18T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I would like to bring to your attention a scam which is currently underway at an online bank called XXXX XXXX which is owned by Webster Bank. I went to the site, XXXX XXXX XXXX, on, or about, XXXX XXXX, to get a high interest savings account that being advertised. At the time they were offering 2.8 % APY. After the account was opened, I assumed I was getting that return. I was not. Now they are advertising 3.75 %. I am receiving 2.127 %. My account says it is a XXXX XXXX savings account. Nowhere in their application process or online do they mention a low interest rate savings account, I was never given any option for a low interest rate account. I clicked the button below the high interest rate offer on their homepage and was lead through the simple process never told I would be getting low interest. I have attempted on numerous occasions to call and to send secure messages through their online portal. I have never received any response. They should convert my account to the high interest savings and give me retroactive interest to the day I opened the account.
Frequently Asked Questions
What is Complaint #6221746 about?
Complaint #6221746 was filed against Webster Bank, National Association regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2022-11-18T12:00:00-05:00.
How did Webster Bank, National Association respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Webster Bank, National Association?
Yes, visit the Webster Bank, National Association company profile at readthecomplaint.com/company/webster-bank-national-association to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.