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Danvers Bank RCA Availability Now Limited

Wednesday, June 1, 2011 - 2:01 PMDanversbank
As of 6/1/11 Danvers Bank RCA is no longer available for nationwide online applications. 

There was a snag and some confusion with my application (5/25), but on a follow up call (5/27) they said was ok.  But today (6/1) they said it was actually rejected and could not be resubmitted despite only being a technical error (a capital "o" should have been entered as a zero).  Once an application is rejected, they require starting over from scratch. However, due to them being acquired by People's United, they have shut off nationwide online access and closed or re-routed the link to People's United. The CSR (Dawn, who manages electronic operations) said in-person applications for out-of-state residents would still be accepted at Danvers Bank locations until probably October, when the merger would likely be completed.

People's United does not allow for nationwide online access, only local.  Once the merger is complete, then their policy of accepting only local residents (online or in person) would supercede Danvers Bank. 

Guess I'll see if I was lucky or unlucky, depending on what People's United does with Danvers' rca's this year.
ekatekat75 posts since
Jan 22, 2010
Rep Points: 246
1. Wednesday, June 1, 2011 - 2:25 PM
Thanks for the update. Sorry to see them end the nationwide online applications. I'll keep my fingers crossed that People's United keeps this reward checking account unchanged for existing customers.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,611
2. Wednesday, June 1, 2011 - 7:47 PM
DBK will lay off 91 employees, shareholder election deadline is 6/2/11.  CSR told me that there will not be any "major" changes to various DBK accounts until September.  On top of it, they are opening a new branch (under People's United name) in Lexington, Mass.   
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427