The Provident Bank

They Will Make You Lose Your Money
- vmolchanov - Friday, September 24, 2010 - 7:46 AM

Stay away of The Provident Bank. Incompetent, rude, unprofessional and ignorant people.

They will make you lose your money.

My cousin and I had separate checking accounts with this bank and I was managing / using both accounts since my cousin was in China and we maintain the same residence in NJ so I paid bills from my a his accounts.

 The Provident froze our both accounts because they have incorrect information on my account and assumed that I was using my cousin’s account illegally without him knowing it which I was not. They canceled all our pending transactions including a money transfer to my father in Russia for his heart medications which endangered his life.

When I called them and talked to them in person first they told me to bring my ID (which I did 3 times) to confirm my identity. I also brought a copy of my cousin's passport. They took everything and did not release the accounts saying that till my cousin and I came to the local branch and brought our ID's the accounts would remain frozen.

They refused to call my cousin in China or accept his calls to discuss the situation and confirm his identity without any explanation.

In short it is a nightmare, we can’t use our accounts to buy food or pay our bills and mortgage, all our money is frozen.

The Bank Rep from Compliance Department (Mina) rudely told me “I don’t care if you have no money to buy food and pay bills and I don’t want any calls from your cousin or him calling me. You both need to come over your local branch and bring your ID’s”

I explained to her that I had been at the local branch 3 times already and they have a copy of my DL and my cousin was not coming back to the US till after the New Years but I brought a copy of his US passport and the Bank has it on file. She would just keep saying the same thing ““I don’t care if you have no money and I don’t want any calls from your cousin or him calling me. You both need to come over your local branch and bring your ID’s”.

I filed complaints with State and Federal Authorities but in the meanwhile we are hanging there without our honestly earned money because the Bank without any proof consider us frau

I Had The Smart Checking Account And I Was Stunned That I Didn't Get The High Interest One Month
- Anonymous - Sunday, May 23, 2010 - 8:46 AM

I had the Smart Checking account and I was stunned that I didn't get the high interest one month. They said there is a charge comes in as pin-based purchase. It was the online payment of my cell phone bill. Although they acknowledged that it can't be pin-based (since it's online transaction), they said "it comes in as pin-based and there is nothing they can do about it." So don't be so certain that your signature based transactions will be counted as signature based.

Provident Bank NJ Is The Worst Ever!
- majimenez - Tuesday, April 3, 2012 - 2:58 PM

First they get you with the high rates, "no fees", etc.  Well, the first time that my account went in overdraft, they kept charging me $35 PER TRANSACTION over a period of 5 days, until i was notified by SNAIL MAIL that my account had a negative balance.  I was charged $210 in overdraft fees in a period of two days!  I called them up to ask why such high fees (I only charged $250 too much, so the interest rate over 5 days would be greater than 2000% annualized!), and they declined to waive any fees (typically banks waive the fees in your first overdraft, but not provident!).  Secondly,  they have the worst online banking service of any bank that I have ever dealt with!  No balance transfers, bill-payments only had a handful of payees, literally, and even checking my balance proved difficult due to the sluggishness of their website.  Even closing my account has proven difficult, as they demand that I show up in person!  Do not fall for the fees, go bank elsewhere!  Try IGOBanking.com, for example, but just about any bank is better than this one!

Smart Checking APY Not Published Online As Of July 2012
- jkinmd - Thursday, July 12, 2012 - 6:28 PM

 

Prior online information included the current APY of the Smart Checking account.  As of July 2012 the web site now states that you must phone them to get the current rate. 

It would seem this is another way to bury further rate decreases from immediate notice. 

Trust Accounts
- Traugott1 - Wednesday, May 9, 2012 - 1:43 PM

Unfortunately, my mother and father had trust accounts for me at this bank.  After they died, my lawyer asked them to consolidate the accounts.  They refused to do this, since it involved "too much paper work".  I am trying to get the trust moved to the local bank where I now live.  I still am unable to get the trusts consolidated. My local bank cannot believe how unhelpful and rude the people at Provident (now Beacon Trust) have been. Do not under any circumstances bank with this outfit.  They are unbelievable!