Wednesday, March 24, 2010 - 10:31 PMViewPoint Bank, National Association
@anonymous who posted on 3/15/2010:
If you're a personal banker with another institution, you have done yourself a huge disservice. It's good you left your name as "anonymous" because the way you talked down to everyone on this forum is both unprofessional and displays your lack of intellect. You assumed facts not in evidence relative to others who have posted their negative experiences on this forum and used your position as a "Personal Banker" (which is code for new-accounts rep that gets strapped working Saturdays to initial checks and deposits that exceed the tellers' limits) as your base for your expertise.
First, it is very odd that the bank is relying upon Chexsystems as the excuse for declining so many parties interested in opening an account with a bank that offers a higher yield and nationwide service. Whatever the issue, it appears suspect and if I were one of the clients who had been declined, I would demand to speak with an operations supervisor and elevate the complaint to get a satisfactory answer.
Second, you assumed that the individual citing his million-dollar net worth has a mortgage of $750,000. It doesn't say that in his post; why would you ASSume that? Have you seen this individual's personal financial statement? (Actually, if you had and you divulged that information publicly, you would stand in violation of the Bank Secrecy Act and that would be very, very bad for your career and the bank where you work). It seems the gate between your brain and your mouth (or in this case, fingers) doesn't go all the way down. Keep your snotty suppositions about others more well off than you to yourself.
Lastly (to another poster above) the idea that this bank (or any bank) would simply turn away deposits when the clients don't borrow from them is preposterous. Banks maintain a loans to deposit ratio and the only way to grow the bank and lend more money is to get more money on deposit and be adequately capitalized. Therefore, when banks are eager to bring in deposits, there is a drive that goes on, usually in the form of a high-rate (or higher rate) CD, which is locked in for a specific period of time during which the bank hopes to woo the client with additional services. However banks that are looking to grow do so with capital. Cash on deposit. The more cash on deposit, the higher the loan limits (banks are limited on how much they can lend based upon capitalization and the Fed has established guidelines called legal lending limits for secured (i.e., cash-secured, real estate secured with conforming loan to value) and unsecured (i.e., revolving lines of credit, term loans, all secured with nothing but the business' assets or a UCC-1 filing).
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