Checking or savings account -- Managing an account -- Complaint #7059558

Complaint Overview

Complaint ID: 7059558

Company: Santander Holdings USA, INC.

Product: Checking or savings account

Sub-Product: Checking account

Issue: Managing an account

Sub-Issue: Deposits and withdrawals

State: New Jersey

ZIP Code: 07731

Date Received: 2023-06-01T12:00:00-05:00

Date Sent to Company: 2023-06-01T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I set up a business checking account with santander Bank in XXXX, NJ. The initial process took over 2 hours but that was only because of the teller 's multiple mistakes slowing the process, such as putting in the wrong email address and waiting more than an hour for it to go through. They input the wrong name, got my phone number and my email address incorrect. This is totally unacceptable. They spent most of that time trying to sell me merchant services claiming their decision is based solely on projected sales and the type of industry which was a lie because it was rejected for credit after I had already expressed my concerns about credit and they told me that wasn't a factor. Lies, mistakes and incompetence. They continue to call me the wrong name even after I corrected them multiple times. I waited for the debit card and when it came it too was incorrect. Big waste of time just because of their own mistakes which they blamed me for on multiple occasions. Last week I deposited multiple checks and hit an undisclosed monthly mobile check depositing cap and had to deposit 2 of the checks in person. Most of the funds were almost immediately available and were available for most of a week. Yesterday when I checked, they had taken XXXX of dollars out of my available balance without any notice or explanation. I tried to call the bank, they hung up on me. I called the manager on his cell phone and he told me they were busy and it wasnt a good day for this. I am missing XXXX of dollars. Even after explaining I don't want to deal with the teller that made so many unacceptable mistakes already, the manager had that same teller call me. He told me I must be mistaken or wrong and that the funds were never there. He then told me it was because it was all 1 big check which is a lie as it was multiple smaller checks with a combined total less than the amount we were discussing in person. They placed an extended hold and I have to wait another week before it's available. How can a bank take XXXX out of the available balance? It went from over {$5000.00} to {$900.00}. After I assured him I wasn't wrong and I do, in fact, know the status of my company 's account, considering I am the only one with access, he had to call the back office and would call me right back. Hours later he called and told me the available was just the bank " fronting money but its taking too long so they took it back '' word for word. How is this ethical or professional? This bank has provided nothing but lies and mistakes and has continually hindered my ability to operate my company. I believe financial institutions should be held to a higher standard. When the manager refused to offer an adequate explanation I waited a day and requested his superior 's contact information, his response was an angry phone call instructing me to close my account and no longer bank there. This has been an egregiously frustrating experience from the very beginning stemming directly from their incompetence and lies. I feel I was decepted by the merchant services and I demand to know how a bank can steal almost {$5000.00} and claim it'll be another week before I will have access to it, again, because it was already there and mine. I can be patient but I refuse to be continually manipulated and defrauded by this financial institution.

Frequently Asked Questions

Disclaimer

This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

Related Pages

• Santander Holdings USA, INC. Company Profile
• Checking or savings account Complaints
• Managing an account Complaints
• New Jersey Complaints
• Company Rankings
• Company Directory
• Search Complaints