This Bank Is A SCAM

Both my husband and I applied for the checking account this bank offered under a STATED nationwide deal.  They submited inquiries against our ChexSystems reports that resulted in 3-5x the normal hits against our reports which did a lot of damage.  Then they denied our accounts because we had too many inquiries, we needed to have 2 or fewer inquiries in TWO YEARS to qualify (so they said after the fact).  We ordered our own copies of our ChexSystems reports and noted all the hits from 1st Mariner, but we also found that my husband actually MET their ridiculous terms and still was denied.  This bank is nothing but a scam.

The bank obtained detailed personal information from myself, my husband, and hudrends (maybe thousands) of others.  Further, they left us with 8 inquirites against our ChexSystem reports which is quite damaging, espesially when you consider that they only allow 2 in 2 years.  I have wasted many, many hours trying to fix and correct everything related to this.  It wasn't simply a 10 minute application that was denied.  The bank actually took money from many customers and failed to return it for multiple weeks - weeks when it was "missing" because it was not in any account (no account was opened, but it was still withdrawn from the feeding account).  Weeks it did not earn interest.  Weeks when it looked like the money may be gone for good.  They have my credit information, my SSN, my home address and phone number and my physical signature (which they refused to return to me).  What have they done with all of this information and "float" money that they obtained for free?  Why did they make a false offer they had no intent to follow through on?  Was this false advertising?  Against fair banking practices?  Against consumer laws?  They made an offer, we meet the terms, then they refused to fulfill the reward...what would you call that?  I'm out $300 and I'll be satisfied when they send me a check, all my application information back, and fully repair our ChexSystem reports.

Oh, wait, you're right!  I should have asked the following questions:

 

1) If I meet your terms, will you deny my account anyway?

2) Will you leave me with 3-5x the number of hit inquiries than expected?

3) Will you withdraw money from my other bank account, not open the new bank account, and then not return the money (which isn't anywhere) for weeks?

4) When you deny my account, will you wait a week to send me a hard copy lletter so that I have time to send you my personal signature card which you will then fail to return to me upon my request?

 


Please add those to your list of "standard" questions so you can be sure you don't get taken the way hundreds of other "too stupid" people were.  Meanwhile, I will leave a review of the bank itself so that I can actually warn people about their practices.  Oh, and you may want to add "How long do you place a hold on money after you complete a bank transfer" to your list of questions since you obviously have been burned by that one and got upset about it.  Maybe you need to be taking your own advice to do your research before complaining about a bank's policy.

 

Have a nice day!

Some comments from others about this bank (on this web site, just listed next to the "deal" rather than a review attached to the bank...which is why I took time to create an account and review the bank):

 

1) "How can this be legal (issuing account numbers, withdrawing 5k from a credit card for deposit into 2 accounts), requesting a signature card and then issuing a denial.  All while taking away access to your money for days on end? 

Did ANYONE get approved?  Because if this is set up to deny just about everyone who applied, then yes, we should do something about this.  We should issue a formal complaint with the Fed Reserve and FDIC.  They cannot just take adverse action against everyone, can they and blame chex?"

2) "I am another too-many-chex-inquiries victim waiting 7 business days for my initial funding to go back on my debit card. Online chat was helpful:

Kati Wood: We only allow 3 in a 2 year period

So keep that mind before you apply."

(NOTE THAT MY HUSBEND MET THE TERMS AND WAS STILL DENIED, with 3 lovely new inquiries added to his report.  Good thing the question was already asked and answered and yet the bank LIED :)  But they must be a nice bank.


3) "I applied morning of the 7th and received email notification at 4:55 that day saying I was approved. They withdrew my funds on the 7th as well.  Today on the 15th I get a letter stating denial due to chexsystems too many inquiries!  I am so mad.  Now I have ANOTHER INQUIRY that results in NOTHING NADA except they owe me $200!"

4) "They never intended to pay the bouns either, but how do you prove intend in court of law?

I had only two inquiry in the last 12 month, one on Oct. 22 2009 and one in Nov. 2009 and that was a reason to turn me down, come on Bank you are all crooks, return my $400 ASAP, I will never ever deal with you again."

5) "People, stop blaming yourself, this bank is running a cun artist game of bait and deny. It does not matter how many chexsystems inquiry you have, you will be denied. The bank is financing their short term debt with free money.

Complain to FDIC and the FEDs and will see what happens."

6) "No normal human being has less than 3 inquiries in 2 years in their chexsystems file, they know that and are playing with people emotions of free money, which they have never to fulfill or pay out. 

File complain, it is only recourse now."

7) "EVERYONE, all of us have been scammed of our personal information, outside bank accounts or credit card number, and many of us, our original signatures which we submitted on the signature cards.

This bank obviously has a history of deceptive practices, and is in trouble, and appears perhaps could be some 'bandit' employees/management/ownership, that have found a way to collect this data. This data is worth alot to international theft rings, and I wouldn't put it past this group of collective thieves. Katie Wood is a popular lady, she writes the decline letters, she answers the phones....this is very worrisome to me.

And...send them the email addresses of all your friends and they will pay you $50! So they can lure in thousands more unsuspecting persons; at no cost to them, since they don't open any accounts!

It is in all of our best interests to get the Feds involved in looking into this....so please take the time to report to both the Federal Reserve, and the FDIC."

8) "They are giving me run around for my money when I ask when I will receive the initial deposit....

..." Nortisha Thomas:  Is there a number I can reach you later. I will have to contact the correct department to see when your credit is scheduled to hit your account. It usually takes 5-10 business days."...

It took, 12 days to reject me and I have to wait another two weeks from today to receive the initial deposit. Crooks"

9) n what basis is it legal for them to take our money if they have yet to decide to open an account for us and then decide against us and apparantly do it often enough it is a habit and or standard policy and procedure for them?????  how can that be legal????


10) "Silly me opened my account and once approved, submitted a direct deposit form with my employer. So not only am I awaiting the return money i funded from my debit card, I'm also forced to wait until my direct deposit "fails" so my payroll check can be printed and then mailed. Frustrating!"

11) "I am one of the many who were denied the account after 5 day they withdrew money from my another bank account. Now how do I get money back, beside waiting for them to cut a check for me? Can I ACH money back, but I don't have an account with them as it was denied.

They shouldn't withdraw money then deny the account. They could have withdraw the money once they approve the account. I do think this is like a scam played by the bank."

12)"It's been 11 days since my money was talen out via ACH, no sign of the money being returned yet.

This bank is run by thieves. Calling does not help, online chat same old story you will get it back in 5-7 business days, liars!"

13) "This bank did a phishing schemes on all who applied. Most of your personal info may be sold to thieves and the international crime gangs, watch out........."

14)"First Mariner removed $200 from my account to fund an account they declined and held my $200 for 17 days before they put it back.  It was actually out of my account longer than that which may have been my other bank.  Now to check to see what kind of damage they did my credit records."

15) "KEN, PLEASE ADD A WARNING TO THIS TRAP OF AN OFFER!!!!!!!!!!!!!!!!!!!!!!!!!!!"

 

 

Maybe your contention was right, 51hh, and it was just me, not being a savvy consumer.  Yeah.  Read for yourself:

http://www.depositaccounts.com/blog/2010/10/150-checking-account-bonus-at-1st-mariner-bank-available-nationwide.html

Ummmm, my comment had my name on it and was the first comment posted at the top of this thread.  Its nice to see that you're such a cool guy that you would make such an accusation.  Please go and see the original link that I posted so you can read everyone's comments first hand.

Second, I have and will continue to complain through many channels.  I have been fighting hard to get my and my husband's credit reports cleared of all of their inquiries.  I have been working with others to file federal and other complaints.  Again, read the posts on the thread that I linked.  There are over 100 comments, although at first they were about how to share referrals. 

Its nice to see that you have such a different threshold on who can or should be justified in complaining on these boards.  When your money is simply "held" at a bank, where you can see it and it is earning interest and it is, I am sure, just a for a few extra days, then it is worth complaining about and others should listen.  But when its someone's money (up to $5k in at least one instance), and the money is nowhere to be found, not earning interest for up to 3 weeks, then we should just "Cool down:-)".

And the "we all" I educated as being wrong was you.  You were wrong.  You were the one who attacked me for wasting people's time with my original frivilous complaint about this bank.  I'm glad to see you admit now that you were wrong and that you have become more educated.

And, finally, you were the one that started with the personal attacks.  I posted a complaint about a bank.  You posted an insulting "you should have" education to me and you were telling me that this wasn't a big deal so I shouldn't have even bothered to complain at all.  Those were multiple personal attacks against me.  But now you have a problem when I compare my complaint to one of yours specifically?  And point out how, in actuality, what I complained about was much worse but you viewed your complaint as worthwhile and mine as not worth the electrons it was printed with.  Hi, kettle.