Let me preface this with stating that I'm awful at managing the multiple accounts I have with various banks. I initially moved some money here because the interest earned was higher than others advertised. However when I moved some out to handle some business expenses, I had fallen literally .6% of my initial deposit below the threshold for maintenance fees.
I hadn't realized it until a few months had passed so I called in to see if they would work with me to reclaim the fees and I could immediately bring my account balance to whatever balance they needed. They were not willing to be flexible in this case because "this was not a bank error."
I've worked with plenty of banks that have better customer service in relation to these annoying fees especially when they happen from an honest miscalculation on my part from moving money around. So yeah, closed my account, leaving a negative review, taking my business elsewhere.
If by chance someone at bankunited sees this and wants to credit back my $45 bucks, I'll rescind the review and gladly be willing to repoen an account and continue doing business with them. See? It's not hard to be flexible.
In February of 2020, our CD at Bank United came due. Rather than roll it over, we went to the bank and spoke with a bank representative. In that the CD rates were lower than their 6 month promotional money market rate of 1.75%, we opted to deposit the entire amount of the CD in the money market account, being assured we could do so at the promo rate. In March, another CD from a different institution came due and we went back to Bank United. We were told that these funds could also be added to our promotional money market account at the same rate. It would take a phone call for approval but it should be no problem in that it had been done for many other customers. We made the deposit and later verified on our online banking account that all of our funds were now in the 6 Month Promotional Money Market Account. However, due to the distraction of the pandemic, we failed to verify the rate of interest being accrued on our monthly statements. In June, we discovered that this account (of over $68,000) from the very start was only earning .036% interest and was now only earning 0.1% interest. When we brought this error to Bank United's attention, we were advised that we had made the mistake of not notifying them of it sooner. They agreed to pay a "courtesy payment" of two months at the promo rate but said our account would now accrue interest at the 0.1% rate. They also attempted to shift blame onto us by saying that we had been uncertain as to what we wanted to do with this money (NOT TRUE) and that they were doing us a favor. Needless to say, this was either a gross error on their part or they are running some type of scam on senior citizens. Therefore, we have closed our account with them. Be forewarned.
I opened an account ad deposited $5K in cash. I came back a month later to deposit more cash. They had put a hold on my first deposit. A month hold on cash? The teller made a call and got the hold removed. I immediately closed the account. Look up the Bank United in Hialeah on Yelp. Many people complain that they tow cars away for parking at their branch after hours.
Been with Bank United for about 15 years, and today they inform me, via FedEx!! -- that they're closing my
account and the money must come out in ten days.
No explanation, just "exercising their rights."
Getting a new account and registering with all my
online bill-paying is a monumental and stressful
chore. This policy should NOT BE ALLOWED, and
banks should be obligated to tell you why they're
closing your account!
Dreadful situation, dreadful Bank United!!!
Opened up a BUSINESS and PERSONAL account with this bank, in Boca Raton. I began using the accounts for my new business. A month after the account was opened I received a letter in the mail, with no name attached to the letter, stating that my accounts would be closed, and a check sent back to me with the balance. No phone call from the local bank, after having been told when I opened the accounts "we're people friendly! we're business friendly". When I called to ask for an explanation, I was told "it was a decision made in corporate" and no further explanation was forthcoming. I have owned three businesses in Florida and have run six-figure payrolls through these accounts through another LARGE national bank. I was hoping to start a business relationship with a local Florida bank. Needless to say, I will never recommend this bank to anyone that I do business with, and will return to the LARGE national bank with whom I have been doing business for over thirty years. I posted ONE star rating ONLY because I was forced to choose at least one. This bank deserves less than that.
i just recently opened two accounts with bank united at two different branches and the staff were very helpful and i thought somewhat competent. after a couple of weeks i still don't have my checks nor my check card, three weeks go by and i get a call from them requesting that i go in person to verify my signature which they forgot to do when i was there opening the accounts. their schedule is not very flexible so i rushed into the bank on a friday 15 minutes before 6 pm ( closing time). i do tell her about my missing checks and card so she fills out the request. today monday i get another call that i have to go back in person to sign the "correct" request form since she used the wrong form. i thought chase was bad but i see there are worse banks out there...
On December 16, I happened to go to an ATM to use my Bank United ATM card. It was rejected without explanation, and I went to the local branch of Bank United, where they know me, and I asked them what was wrong. I assumed they would tell me the ATM wasn’t working. What they told me was the most shocking thing I had ever heard. I was told that, without my knowledge or consultation, they had closed my two bank accounts (one checking and one money market, with a substantial amount of money in them), and had mailed the remaining amounts to me. If I had not gone to the ATM, I would have had no idea that these accounts had been closed and the money was no longer at the bank. I would have continued to write checks that would have bounced. When I asked why they didn’t have the courtesy to call me (we have had the same phone number for 10 years), the bank officer expressed irritation that I should ask. She actually seemed irritated that I should even ask for an explanation, which she wouldn’t provide. Then I found out that they had mailed these two checks (separately) to a condo address we hadn’t used in about eight years. Strangely, all of our monthly statements and check orders had been sent for numerous years to our current and correct address. There is no reasonable explanation as to why they would send anything to that address. I headed over to the condo where they had sent the checks and, miraculously, the check from the money market with the bulk of the funds was being held at the security desk. I eventually tracked down the second check as well.
I was amazed that no one even apologized for all the inconvenience I was caused. No one even seemed concerned about the checks that would bounce because of this action. Also, let me be clear - to my knowledge in all those years I don’t believe we ever bounced a check until this situation occurred. I cannot believe that this kind of behavior could be legal, although the bank officer insisted that it was. If it is legal, it shouldn’t be.
My father had a custodial account for my son. Dad died (YOB 1909) and my son (YOB 1985) wanted the money for a down payment on a condo. We went to the BankUnited and were told that a death certificate had to be placed on file at the bank. I brought the death certificate while my son was at work and BankUnited kept a copy. I was told that a check could not be issued without my son present. Next day, my son went into the bank, after work, at 4:30 PM (bank closes at 6 PM, on Friday's). He was told that a check could not be issued because the manager and legal department had already gone home and that he should come back on Monday. My son is not a fighter, thus, he left the bank empty handed.
Can somebody please explain how a bank can hold a depositer's money without a valid reason? My son had already signed to close the account, the death certificate was on file, and the back was open until 6:00 PM...Does he need to bring the witches' broomstick to the Wizard? What is going on here and what legal rights does my son have to obtain his money? Are we still living in the USA? I am both confused and scared. Does the Patriot's Act protect the citizens of this country or deny them their rights? This is a sad commentary on the state of banking in America, today.
My folks are elderly and disabled. Not only did BankUnited do ONE pick-a-pay where the lowest payment does not cover interest (ie: negative amortization) but then after only a year of paying only the minimum (non-interest covering payment) they put them into ANOTHER Pick-a-Pay with even more negative amortization. "Caveat Emptor" is no where near the text nor meaning of this countries Banking Regulations. Please read the HOEPA ( Home Ownership and Equity Protection Act )... If this is how they did business up until their bankruptcy, expect the FDIC to be eating alot more losses, and that new private bank to be keeping all the illiicit gains
My father held two accounts and a CD at Bank United when he died. They made it very difficult to close the account, taking over three weeks and many interactions, then charged high fees to close the accounts. They knew I was from out of town, so they delayed until I had to leave so they could charge the fees without my interaction. They also charged over $580 in prepayment fees on the CD even though their literature stated that there would be no prepayment for a premature withdrawal due to death.
If you are a Senior Citizen, and they already have your money, they treat you like dirt.