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Tuesday, March 12, 2013 - 10:08 PM

Worst Banking Experience EVER

Dime Savings Bank (1 stars)
Tried to setup a new online checking account since we live in the neighborhood and wanted a local bank for my daughter who just moved here.  Their advertising said no minimum opening balance required, but after you enter all your financial information into their system and get to the initial deposit page, it requires a $500 minimum deposit - and you can't cancel because at this point they already have your information.  Once you get the paperwork from them (abour 2 weeks later) the paper disclosure they send says no minimum opening balance.  So that is outright fraud.  Next, when you open the account, they put a 30 day hold on your initial deposit so that you cannot withdraw it or write checks on it, which isn't a problem since it's that long before they send you checks or atm cards or even a statement showing you they have your money.  They don't even bother to tell you that you have to go by in person to request checks and the debit cards.  After waiting 2 weeks for some kind of acknowledgement from the bank (after they had our money) I called them and they then informed me you had to go by in person.  I suppose if you don't bother to call, they just use your money forever and never give you access to it.  Seriously, they  don't even bother to call or send paperwork to welcome me to the bank or provide next steps?  Third, after opening the account, you have to take paper copies of utility bills to the bank to prove that everyone on the account lives at your address - even students who have no utility bills.  I suppose I was suposed to put my electric bill in my daughter's name to get her on the account?  Luckily we were able to call her out of state college and have them change her address there and then send a copy of a transcript bill that had her name on it.  Still, this is a RIDICULOUS requirement.  They did inform me that if I couldn't verify her address on a bill that they would have to remove her from the account - and this was an account we were setting up just for her after she just moved here this month from out of state.  Fourth, after receiving the checks today (a month after opening the account), we tried to setup the online banking using either my name, her name, both of our complete and accurate sets of information.  No surprise here that it wouldn't work and told us we had attempted too many times and would have to visit or call the bank.  I cannot wait to finally be able to go by in person to cancel this account and go somewhere else.  Of course they told us we would have to wait 30 days before we could close it.  AVOID THIS INSTITUTION AT ALL COSTS  It's too bad you cannot give negative stars.
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thellmerthellmer1 posts since
Mar 12, 2013
Rep Points: 1
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