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Sunday, October 30, 2011 - 9:10 AM
(1 stars)
Bad Banking Practice
KeyBank
(1 stars)I had a CD with Key Bank that matured in August. Weeks before the maturity date, I completed a form requesting that half the money be sent to another bank and half to remain in their bank. They took slightly more than half to retain and let the other half sit in their bank for 2 months without forwarding it and without notifying me that there was a problem! When the other bank contacted me to say they had not yet received the money, I called Key Bank and really had to jump thru hoops to get the money transferred. First, they said the amount on the request form was off by a few dollars and needed correcting (they had not notified me of this). Then it still was not transferred, nor was I notified of a problem util I called. They said I owed a penalty fee because the request was after the maturity date and I had to FAX them a letter agreeing to have the penalty fee subtracted from the amount transferred. I was furious because the original request was well before the maturity date. I FAX'd them the requested letter (actually 2, because first they gave me the wrong amount of the "penalty"). The $65 penalty was an outrage and I told them so, but they were not going to forward my money until I agreed to pay it. I have dealt with many banks over the years, but have never experienced such poor customer service!!!
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