TrustCo Bank

Your Account Freezes After Just 30 Days
- cwrexford - Sunday, February 3, 2013 - 11:54 AM

My checking account at TRUSTCO is a secondary account I use when I am in NY.   I hadn't used my account in about 2 months and decided to make two payments for state income tax using ACH electronic check on 1/15/2013.  Two weeks later the state sends me two letteres saying the payments were rejected because of "frozen account".  I called the bank thinking there was fraud activity.  They told me the account becomes automatically dormant after 30 days.  To make it active again I would have to make a deposit.  They didn't think that policy was at all unreasonable.  I talked with four other banks and they said they wouldn't make an account dormant for two years.

I pay my real estate taxes using ACH transfers.  Late fees on real estate are several hundred dollars.  This is a risky bank to do buisness with if you are a senion that doesn't do many transaction in a year. Monthly bank statments gave no notice that the account was frozen.  Oddly enough, I became an account holder because I have a large stock position in this bank.  I still feel an obligation to warn people about a practice that is so out of the mainstream.  I have also filed a complaint with bank regulators.

Very Poor Service
- rgproctor - Monday, February 6, 2012 - 9:42 AM

I set up a new account with the Maitland, FL branch, detailing how we work and our cash flow pattern.  The branch manager assured me there would not be a problem.  However, after a month or two, their extensive check hold policy caused me a lot of grief, in spite of the fact, we've never had a deposited check bounce.  The branch manager, said, in effect, oh well, that's our policy.  I feel she lied to me to get the account.

I'm closing the account and set up another one across the street.

Do Not Bank Here!
- Keilasmom23 - Thursday, August 18, 2011 - 4:49 PM

I had the unfortunate experience of receiving a counterfeit bill from Trustco. They told me they would not reimburse the money even though they issued the fake bill. I had to file a police report. The banks position was that customers are responsible for counting the money (which I totally understand), and also responsible for determining whether their money is real or fake! I couldnt believe it. Two employees also said they hand out fake bills often. Dont go here & get burned.

Trustco Scam
- vio81 - Saturday, November 12, 2011 - 10:30 AM

I opened an account in 2010 thinking I'll be using it often but only made a $20 deposit and haven't used it since. I went to the local branch today to close my account and I found out that these crooks have closed it and won't refund my deposit claiming that there is a 'returned mail" fee that was assessed on the account. Ridiculous!!! I get mail every day, it's impossible to have only Trustco mail returned furthermore, I do have several letters from them extending some other financial products and offers... Even if the mail got returned they should call and ask for an updated address, they had my phone number, they had my wife's cell#... When asked to produce evidence that the mail was returned, the manager said that they probably don't have the mail any longer because it gets destroyed after a certain period of time but she will ask for it and if they have it they'll show it to me. It's been ONLY 3 months since the account was closed aren't they supposed to keep the evidence or documents for at least 1 year? This is a complete lie, a fabrication from the bank seeing no activity on the account, instead of putting effort into creating activity or contacting the customer, they decided to close the account and cash the funds hoping that the account owner doesn't remember he/she had an account or maybe he/she has passed away... Despite the insignificant amount this is an outrageous behavior from a financial institution and these crooks are  in for a big surprise... Stay tuned

Terrible Bank If You Are Not Local
- judyrfc - Thursday, June 30, 2011 - 12:28 PM

I moved to an area where there is no branch of Trustco anywhere nearby, so any kind of dealing with them has had to be through phone and snail mail.  It is the most backwards and frustratingly inconvenient banking I've ever had the displeasure of doing business with.  

Very inflexible methods of communication are used.  In the past (I've been with them over 11 years, not my choice) if they needed to communicate, it was only through mail, even though my phone number was in their records, but apparently dialing it was too much effort.  I've had to call numerous times to change my address (for the same residence).  

Any kind of dealings with them through snail mail has to be notarized, and then when you need them to reference said mail, it's a gigantic hassle.  As in "the manager isn't here, I can't find it".  Are you kidding me with this - does the manager keep mail on their physical body?  Is this 1930 that you have to rummage through a desk?  Needless to say, it's not at all a pleasure to deal with them and as soon as I can withdraw my money, I will cease doing business with them.  

I would love to give them just 1 star, but in person they were fine.  It's just that if you live in the current age, be prepared to take a dive in the past.

“Crooks And Scam Artists”
- inkedpoet - Thursday, December 6, 2012 - 8:09 AM

“Crooks and Scam artists”  They stole my own money out of my banking account now I have to wait weeks and weeks for the paper work just to see if I get it back... Trustco Bank  3707 New York 43 , West 

Great Products And Friendly Staff
- AndoFL - Friday, March 8, 2013 - 6:28 PM

This bank has stayed true to the way banking used to be-friendly staff that know your name and are available to speak to in person. You don't get transferred to some call center with an automated line that's impossible to navigate. Simple products without a "chart" to figure out if you will get a fee. No minimum balance to maintain and no monthly service charge. I have always have received great service and it's easy to maintain my account and not worry about getting hit with fees the big banks charge for no reason.

Terrible Bank Even If You ARE Local
- elvendecker - Saturday, January 5, 2013 - 2:22 PM

We have used Trustco for CDs for a long time.  A bit of a pain to work with, but I only saw them once very 2-3 years.

We opened checking/money market accounts a week before Christmas at their Stuyvesant Plaza office.  The assistant manager forgot to order our ATM cards, and ordered our checks with one of our names spelled incorrectly, as well as our town spelled incorrectly.  The re-ordered checks arrived a few days ago, but when I checked our account, I find that Trustco had charged us to rush order the new checks. 

I assume that charge will be withdrawn (if not I will edit this comment), but so far our experience has been a tragedy of errors at every step.

The interest rate/required balance combination between the two accounts is good enough to keep us banking there temporarily to see if this nonsense continues, but we are actively shopping for a new local bank to house our checking and cash accounts.

Trustco- Seek A Credit Union
- jellya - Thursday, April 25, 2013 - 6:36 AM

I would rate 4-5 stars- ok bank; policies on check holds and fees are clear, even if you don't like theat they hold checks for 24 hours, checks are always free, and the ONLY fee on your accounts are if YOU overdraw it. What? do you really think the bank will give you an interest free loan?! ... you get the disclosure when you open your account people. Try other banks with maintenance fees, transactions limits, and charges for such things as on-line banking or Bill-Pay... The service is always friendly and helpful... I don't like the way they treat the employees. Tey treat them like pawns on the chess-board, and there is ALWAYS a different person sitting at the desk, having to eplain my situation to everyone not only gets old, waste time, but makes me feel very insecure... Just WHO am I giving my information to? everytime they look up my acct. they want my SS#. all these floaters, I can't tell who is still with the bank, and who is taking my information for later... and talking to these 'floating' managers, they don't seem to like it either- they have to pay for their own travel with only minimal reibursement  from the bank in their own vehical-far less then the $0.55/mile alotted on your taxes (at $4/gallon) - I feel bad for these kids- and I mean kids! they have the most inexperienced unprofessional 22 year olds sitting at a desk, who have to call other branches for simple answers... waste of my time.  They are ok for simple checking and savings accounts; try the credit uions for loans... Rumor has it they are downsizing- getting rid of employees (1-3 tellers) left and right... there goes the customer service aspect I liked.