BankUnited

When You Deposit Money In A Bank, Whose Money Is It?
- MrsPiggy549 - Friday, May 13, 2011 - 10:20 PM

My father had a custodial account for my son. Dad died (YOB 1909) and my son (YOB 1985) wanted the money for a down payment on a condo. We went to the BankUnited and were told that a death certificate had to be placed on file at the bank. I brought the death certificate while my son was at work and BankUnited kept a copy. I was told that a check could not be issued without my son present. Next day, my son went into the bank, after work, at 4:30 PM (bank closes at 6 PM, on Friday's). He was told that a check could not be issued because the manager and legal department had already gone home and that he should come back on Monday. My son is not a fighter, thus, he left the bank empty handed.

Can somebody please explain how a bank can hold a depositer's money without a valid reason? My son had already signed to close the account, the death certificate was on file, and the back was open until 6:00 PM...Does he need to bring the witches' broomstick to the Wizard? What is going on here and what legal rights does my son have to obtain his money? Are we still living in the USA? I am both confused and scared. Does the Patriot's Act protect the citizens of this country or deny them their rights? This is a sad commentary on the state of banking in America, today.

Illegal Double Pick A Pays And Negative Amortization
- eekthecat13 - Monday, January 3, 2011 - 11:53 AM

My folks are elderly and disabled. Not only did BankUnited do ONE pick-a-pay where the lowest payment does not cover interest (ie: negative amortization) but then after only a year of paying only the minimum (non-interest covering payment) they put them into ANOTHER Pick-a-Pay with even more negative amortization. "Caveat Emptor" is no where near the text nor meaning of this countries Banking Regulations. Please read the HOEPA ( Home Ownership and Equity Protection Act )... If this is how they did business up until their bankruptcy, expect the FDIC to be eating alot more losses, and that new private bank to be keeping all the illiicit gains

Bankunited: Worst Banking Experience Ever.
- gkarpcell - Thursday, December 15, 2011 - 8:12 PM

On December 16, I happened to go to an ATM to use my Bank United ATM card.  It was rejected without explanation, and I went to the local branch of Bank United, where they know me, and I asked them what was wrong.  I assumed they would tell me the ATM wasn’t working.  What they told me was the most shocking thing I had ever heard.  I was told that, without my knowledge or consultation, they had closed my two bank accounts (one checking and one money market, with a substantial amount of money in them), and had mailed the remaining amounts to me.  If I had not gone to the ATM, I would have had no idea that these accounts had been closed and the money was no longer at the bank. I would have continued to write checks that would have bounced. When I asked why they didn’t have the courtesy to call me (we have had the same phone number for 10 years), the bank officer expressed irritation that I should ask. She actually seemed irritated that I should even ask for an explanation, which she wouldn’t provide. Then I found out that they had mailed these two checks (separately) to a condo address we hadn’t used in about eight years.  Strangely, all of our monthly statements and check orders had been sent for numerous years to our current and correct address. There is no reasonable explanation as to why they would send anything to that address. I headed over to the condo where they had sent the checks and, miraculously, the check from the money market with the bulk of the funds was being held at the security desk. I eventually tracked down the second check as well.

 

I was amazed that no one even apologized for all the inconvenience I was caused.  No one even seemed concerned about the checks that would bounce because of this action. Also, let me be clear  - to my knowledge in all those years I don’t believe we ever bounced a check until this situation occurred.  I cannot believe that this kind of behavior could be legal, although the bank officer insisted that it was.  If it is legal, it shouldn’t be. 

Bad Customer Service, Incompetence, And Illegal Fees.
- ooprof - Sunday, October 24, 2010 - 7:31 PM

My father held two accounts and a CD at Bank United when he died.  They made it very difficult to close the account, taking over three weeks and many interactions, then charged high fees to close the accounts. They knew I was from out of town, so they delayed until I had to leave so they could charge the fees without my interaction. They also charged over $580 in prepayment fees on the CD even though their literature stated that there would be no prepayment for a premature withdrawal due to death.

If you are a Senior Citizen, and they already have your money, they treat you like dirt.