The Berkshire Bank

Berkshire Bank Very Slow To Update Online Banking Transactions ...
- thevaliantx - Saturday, September 10, 2011 - 4:21 PM

Is the fact that Berkshire Bank is so slow to update transactions through online banking an intentional thing?  I think it is.  You see, years ago banks got away with reordering checking account transactions on a nightly basis so that the largest transactions would go through first, making it more likely that said banking institution could make money off NSF (Non Sufficient Fund) charges.  Then, consumers wisened up, called banks out on it, and poof.....banks started processing transactions as they came in (on a nightly basis).  Well, it seems that banks are up their old tricks again.  This time they're, under the disguise of "our servers are running slow" (or something along those lines), banks are intentionally not updating online banking transactions as they occur.  If you go into your Berkshire Bank online banking account and make a transfer from one accoun to another  you will not see the changes reflected for each effected account.  This makes it very easy to forget which account you pulled money from, and what the balances are for each account.  Now, let's say, for example, you have a USAA online checking account.  AS SOON AS you complete a transfer from one account to another the changes are reflected IMMEDIATELY for each effected account.  Very straight-forward.  I will be looking to switch my accounts to another banking institution as it is clear as day that Berkshire Bank doesn't care anything about its customers.  

Outstanding Customer Service
- Wil - Sunday, February 20, 2011 - 10:11 PM

On Feb. 1st I opened a CD and Power NOW Checking accounts at the Teaneck, NJ branch of The Berkshire Bank. The branch manager and staff treated me as if I were "visiting royalty," and convinced me that the bank truly wanted my accounts and that they were committed to the bank's motto of "putting your interests first." I got the 18-month CD special being offered at the time at a rate of 1.9% APY. The Power NOW Checking is the bank's reward checking with a qualifying rate of 2.5% APY, which is guaranteed until March 31, 2011. Note: the Power NOW Checking requires a minimum balance of $1500 to avoid monthly fee ($10); 6 debit card uses per month (either point-of-sale or PIN) totaling $100 per month to get qualifying rate; 50 debit card uses per month are free (additional uses will be charged $0.25 per debit); direct deposit is not required; balance cap is $25K; only one Power NOW Checking account per household; interest compounds daily. If all account terms are not met for 2 consecutive statement cycles, account will convert to NOW Checking account. Account earns the qualifying rate for the first 30 days without having to use the debit card in order to allow time for you to get the debit card in the mail. In fact, I received the debit card and the first 50 checks (which was offered to me "on the house") 10 days after opening the account. What has truly impressed me is the responsiveness of the branch since opening the account. The branch manager has called, without fail, every time he said he would. He even called to tell me the trial verification amounts when they posted to my account from Capital One and Charles Schwab. Furthermore, when I called the bank's main telephone number, I got a live person immediately! The only thing about the Berkshire Bank that is a bit behind the times is the enrollment process for online banking. You need to fill out a form at a branch (or print it and bring it to a branch), which will then take about 2 weeks to be processed, before you get a user ID and password to enroll for online banking. Many banks make it easier than this to enroll in online banking. Furthermore, although The Berkshire Bank can initiate ACH transfers (certainly a plus), that requires filling out another form to be processed, and providing a voided check for every external account to be linked (up to a maximum of three external accounts). This means, evidently, that only checking and money market checking accounts can be linked. Now that I have everything set up, I think I'll be very happy with The Berkshire Bank. I only hope that they keep the qualifying rate on the Power NOW Checking competitive after the expiration of the rate guarantee.

Worst Bank To Work For
- Berkshireguy - Wednesday, December 26, 2012 - 10:03 PM

This is the worst bank to work for.

Their program is from 1900's.

bank is full of old and nasty people.

Do yourself a favor, save yourself sometime, don't go working for that bank.

Horrible Place For A Mortgage
- Fstein - Saturday, November 17, 2012 - 7:24 PM

Missed deadlines, no show appraiser.

Despite the fact that they were the developers bank and were in fact transferring money from one pocket to another, no breaks on closing costs.

Although they had the file for 3 months, found out the day of closing that the numbers did not add up for us.