People's should be under investigation, and from what I read a Class Action Law suit is in process
They will say no fees, but be prepared to receive numerous misc fees.
They intentionally will change dates and times on your deposits to structure your debits and credits in order to create insufficient numerous $3 dollar fees and be prepared for overdraft fees, even &37 dollars to charge you overdraft fees even though you have money to cover the debits.
No customer.services rude this bank is the pits.
Bank manager in Torrington Stop& Shop location is a spineless puppet,. Save yourself the headache and save your money at a different bank
My old bank, Farmington Bank, never charged a fee to customers for money orders. I'm 67, on a fixed income and don't have checks for my account because I pay everything either online or with my debit card and checks are expensive. Every once in a while I need to mail a payment. I went into the branch recently to get a money order and found out People's charges $5!!! Are you kidding me? I get free checking because I'm over 50 but they want to rip me off $5 per money order when they were always free at Farmington Bank?! No thank you! Walmart charges 70 cents! I will get my cash out and take it to Wal-Mart from now on! I'd heard People's nickels and dimes you to death and now I see it in action! Outrageous!
I want to update my previous post: I received a call from a PUB employee who found a solution and resolved the issue. It seems as though it is just a matter of getting through to the right person. If this happens to you, ask for a call back from the internal fraud department. Don't try to speak to the company the bank contracts out to because they won't help; you're not their concern. It seems that speaking with the internal fraud department will help resolve any unnecessary debit card fraud blocking issues.**Prev Post: Peoples United blocks debit card purchases from established companies: Innocuous clothing companies, long time mobile phone carrier, established merchants. Then they call you from a # that looks like a telemarketer so you don't pick up, they don't leave a message, and next you know you're out trying to use the card but you can't because they've blocked it as potential fraudulent use because you tried to buy some clothes from Chicos or something like it. So far no one has taken responsibility or steps to fix the problem because the bank contracts card security to an outside company so the company blames the bank and the bank blames the company.It's more than inconvenient and incredibly frustrating.
made a purchase using my debit card which never made it to the distributor. They can tell me the money clearly came out of my account but that I need to contact the distributor for a refund. The distributor even went as far as to put in a fraud claim against themselves after I provided proof that the money came out of my account in their name and Peoples denied the claim and refused to give me my money back. I have been fighting with them for months at this point and all they will tell me is that they can not help me. The distributor has even offered to stay on the line with me while I call the bank to try and figure things out and peoples refuses to speak to me with a third party on the phone or to conference in the third party after they verify my identity. At this point it would be easier to cut my losses. Absolutely useless, incompetent, and completely unhelpful.
I have overdtafted my account 5 times in the last 2 months. Yes i cut it close but I always make sure that I deposit the cash to cover in the ATM machine before the business day starts. I have not had this problem before the past 2 months. It happens when I pull ach withdrawals for my Robin Hood trading account. For the past year I cover before the bank opens...all set. Now all of a sudden I see that Peoples is pushing a brokeage on the mobil app. Hmmmm they say that the deposits I make dont make it in time now...Do you think they are making it hard for me to trade with someone else. Yes I admit again....I keep it close...but the ostng policy that they say has been in force does not cut any slack...my wife loves the bank...guess I better take more care in my shuffling ...cuse the bank is not a " neighborhood " Bank anymore....Also alot of banks post VA and Gov Ret Pay early...not Peoples...they use everyones money...a zillion bucks for 48 hours to maje money on you money...got to go now...have to lobby the wife into going to another bank...
Peoples is now charging students a $3 fee for a paper statement. My student was unaware of the fee. As with most students, they never opened the statement so they were unaware that they were being charged this fee. So much for a free student checking account. HORRIBLE!
Don't die with a checking account at People’s United Bank. They'll continue milking your account with service fees even after death. My brother-in-law was being charged $30.00 a month in checking account fees. After he died, we notified the bank TWICE--once even going into a branch with the death certificate. We explained it would take several months for us to get through probate before we could close the account. They reassured us that, even while fees were still being charged, they would be refunded when we closed the account. Four months--and $120--later, no refund. Seems like no one ever bothered recording that he had died. Now we're told there is no recourse. Not exactly a "People" friendly bank.
This bank has the worst customer service that I have ever experienced. I was unhappy with my old bank and switched to them. Explained why I was switching and they assured me that if my account was ever to go into the negative I would have 24 hours to make a deposit so I didnt have to deal with overdraft fees. Fast forward to today; and theyre changing their tune. They will not help at all. Their call center representives are extremely rude. This was their mistake that I have to pay for yet again. This bank does not care about their customers, they care about making their pockets deeper with astromical fees of $37 for an overdraft and countless others that they charged to my savings account and essentially ‘robbed’ $200 in fees for. I would not reccomend banking with this bank at all. All they do is cause ajs give you headaches. Plus they take forever to deposit anything into your account. What bank needs 4 days to clear a CASH deposit? Stay away or bank at your own risk. (1 star rating is too high to give them)
This is pretty much the worst bank I’ve ever had an account at, lots of shady practices, incompetence, hidden fees, poor customer service (they never return your calls, even with a business account!) and sub standard online features, etc.
People's United is just like the real banks involved in the same scams, profiting from the same excessive fees that they attach to your account (with or without notice). Their customer service has zero follow up; cards and services randomly get turned off without notification; other services appear on your account you did not ask for. Don’t even bother with their online banking. It’s just totally broken.
One way this bank is different from one of the name brand banks is that you still need to go down to your inconveniently located branch to do just about anything you need to do from wires to ordinary transfers.
I have accounts at several other banks and never experienced anything like this. I finally closed my accounts in frustration; save yourself the trouble. Head to a real bank.
If ever a banks name and branding were more ironic than "People's United Bank," it would amaze me.
My wife and I have joint checking / savings with People's, but do most of our financial arrangements with DCU and Capitol One. Prior to retirement we used People's for direct deposit of my wife's checks, but rarely availed ourselves of its checking. Believing we had a checking balance at minimum around $300, I checked online last Saturday and found we had a grand total of $2.94 -- People's had been withdrawing $25 per month for years as a "monthly checking service fee." That's $300 per year, and this must've been going on for at least 4 years. Nice. What could possibly be the "service fee" on an account (with paperless statements) that is almost inactive. I'd called them in January in response to an email that merely told me my checking account was under balance, and had directly asked what the implication for this might be by way of penalties. I was told that the email was simply a public service communication and that "there is no downside" to being under balance.
Yes, I should've checked my e-statements, I own the responsibility for this. Why didn't I? Because few if any banks still have this "minimum requirement" clause, i.e., Capital One, DCU, Bank of American, Barclays, etc.
When I called them, the agent suggested quite rightly that I might want to close my account because after the checking account is wiped out with the $25 fee, they will begin billing me directly. Incredible. A personal visit to the local branch manager was equally useless. Caveat emptor doesn't begin to summarize my disgust for these bottom feeders --
I have been banking with People's United bank for several years now. In the beginning it was called People's Bank, which was very appropriate because they were really customer service driven, for the "people". I live in a small town where there was a local branch that you could walk in to do your banking , and it also had a drive up window. The drive up window was very convenient, the service outside and inside was outstanding. I started out with a checking account and savings account, checking had a very small minimum and there weren't any fees for using the ATM or using a foreign ATM. As time went on, the fees and balance minimums changed, making it challenging to avoid having any monthly fees. The system was also changing, less drive up windows and less walk in branches. Today I am still with them, but seriously thinking of changing banks. I have to go into a Stop and Shop grocery store if I need to go to the branch to get something done or speak with someone. If I am looking for a stand alone branch I have to drive 25 minutes to get to one. When I do go into the bank at the grocery store or a stand alone branch, the customer service is excellent, the employees try to treat you as if they know you and they are still that small town bank. Unfortunately, I feel very inconvenienced by them and will probably move on.
People's bank is local to my area. They do not provide many web services. I hate that I cannot easily check my balance from my phone. I was accidentally charged an overdraft fee when I had money in my account and they refused to take it off. I had a very poor experience with customer service and they provided no help.
I banked with people's for 5 years. They deposited $1,000 from someone else's account into my bank account, then again for $500. My transactions wouldn't show up for days then I would be overdrawn each time charging me a $37 overdraft fee. They took it upon themselves to close my account, then report me to Checks systems without my knowledge.The bank manager I spoke with was very rude. I banked out of People's United Bank in Stop and Shop in Waterford ct. One star is being generous.
they bounced my mortgage check and a parking fee and will not refund me the fees. This was their mistake, they had an available balance that more then covered my checks and then told me the available balance was wrong there was still a check that i deposited that needed to clear. Horrible bank.
This bank charges exhorbitant fees for ATM transactions, has poor customer service and has been hacked. Granted, I was made whole on my fraudulent charges, but this bank gets a big ZERO in the customer service department. I am a 30 year customer and shareholder since the bank went public, and it has done nothing but go down. I can't wait to change banks.
Peoples United Bank was a good back a few years back. But they have been trying to expand and grow into a major player. Unfortunately, the competence of their staff just doesn't stand up to their aspirations. The bank staff are actually fairly nice people, however, their high turnover and internal promotions has left most of the staff improperly trained or not yet qualified for the position they are filling. After about 4 years of problems with my account, I have had the last straw. A minor change to my account ended up screwing up the whole account entirely. My interest yield went down more than half, I received 3 new ATM card with different PIN mailings. The account manager denied any responsibility and refused to provide remedy.
I recently opened an online account on peoples.com. One month later I was hit with a service charge for the debit card which is not disclosed online. They say that is disclosed but they are reading off the disclosures for connecticut - where the online accounts are based even if you live in another state. If you go to their website, it says clearly "free mastermoney debit card" but that is FALSE. I had to go and reopen an entirely NEW account at my local bank to have an account based in my state and not get charged a monthly fee
We started a small business with a loan from People's United Bank. Eventually our business went under and we felt People's United Bank was uncompromising in their demands for immediate repayment of the entire outstanding loan balance. They are horrible to deal with and we will never do any business again with People's United Bank. We Hate People's United Bank! See our web site for more details of our transaction (wehatepeoplesunitedbank.com)!
I strongly suspect that Danversbank's high interest rate on their checking accounts was to fluff up their balance sheet prior to the company's buyout by People's United Bank. Immediately after the merger, People's dropped the interest rate from 4% down to the current 0.25% APY.
I transferred all of my money out and closed my account today. Too bad...
Recently reduced their rewards checking rate from 2% to .25%, then required a NOTARIZED letter to cancel the account. They never required anything notarized to open the account. They're in New England and I'm in Florida. What a headache! Really sorry they took over the rewards account from Danversbank, who did such a fine job for their customers. Avoid these folks at all costs!
I just need to tell the public to NEVER do business with Peoples United. I have a LONG story, but will try to keep it short. I had a commercial loan since 2010 with this bank at 6.7%. 8 months ago i started a refinance process with them. I paid $400 for an appraisal. I was told NOT to talk to the appraiser. When they came to my property the gentleman stated he was told not to include a 800 sf building, which is on my property as well as a house and lg storage shed. I was confused by his comment and walked away. Its my understanding that an Appraiser can NOT be influenced. Well i can assure you, this one was. When the appraisel came back it was way off, 50k off. I know this because i had another one done that included the building. I wasted 8 months only to have Peoples United tell me they cant do anything for me, so i looked else where. Within 4 weeks i had a deal done with another bank. 3.5% 20 year loan. When i called Peoples United to get a Payoff for my closing, they would not give me one. It took about 20 phone calls and about a total of three hours in three day. Absolutely crazy. After finally getting to the right person i was told i had an early termination fee of $5400. I couldnt believe what i was hearing. The loan manager whom i was speaking to was extremely rude and talked to me like i was an idiot. I asked him to wave the fee or cut it down for me. He said "listen guy, it aint happeneing, business is business". He said why should he? He said, How does this help HIS bank. I tried telling him i tried for 8 months to get a deal done with them FIRST. IN GOOD FAITH. That literally cost me thousands. They offered me NOTHING. I mean NOTHING. Then i mentioned the appraisal coming in at 25% in there favor and how it seemed just a bit fishy knowing i had an early termination fee attached to my contract. WHY WOULD they refinace with me. It only benefited them 100% NOT to do it. How is that ethically right? Its not, and people need to know about it. They kept telling me i got a "sweet deal" and then proceeded to do the math for me stating i would have their fee paid off in ten months. NONE of their business and NOT the point. So, i paid the fee, and i am dedicating all my free time letting people know what happened. Just to be clear, this is the Peoples United home office located at 850 Main St, Bridgeport, CT. I own a successful business which i grew on word of mouth. One aspect Peoples United does NOT care about. So Peoples United...."business is business".......
Like some have said in the forum, yes, they told me to send a notarized letter. What can I say -- a ridiculous requirement from a ridiculous bank! Since my local bank (not PU) does notaries free for customers, I got it notarized there, but I transferred most of the balance out first.
Since they have reduced the rate on the People's rewards checking account, I want to close my account. I have sent several emails and received strange answers. The first message gave me information on how to change my address. Today the message reply was that I was already given instructions (which I was not) and told me they still needed a notarized letter. Have some of you closed your People's account and if so did you need to send a notarzed letter?
I was a Danversbank customer, using the rewards checking account for a number of years. Of course, banks use rewards checking accounts to bring in new accounts and make themselves more attractive for acquisitions, which is exactly what happened with Danvers.
People's United did indeed lower the rates to a psaltry 0.25%, without providing any notice to customers. This is not a competitive rate and I will of course be moving my money and closing my account this month.
When People's United Bank (Bridgeport CT) took over Danver's Bank, it assured its acquired clientele that the terms associated with its Free Rewards Checking Account would remain the same. Danver's always informed its clientele when an interest rate change was going to go into effect. People's Bank dropped its rate from 2.25% (April 2012) to 2.0% (May 2012) and then from 2.0 % (June 2012) to 0.25% for the July 2012 cycle without informing any of their clients. Its rude and terse telephone bankers told me yesterday that they have the right to do so as this was the case with Danver's - which is an outright lie! Of course, I am yanking all of my funds from People's in light of this gross misrepresentation and filing a complaint with the Federal Reserve concerning People's deceptive practices. I can only encourage other People's Bank deposit holders to do the same before they are People's next financial victims. The failure to file a complaint is simply blind acceptance of another bank's exploitation of "people" who are struggling to save in difficult economic climate.
About half a year ago PUB took over a fantastic bank, Danversbank. The service was excellent and the rewards checking was a nice account. When they lowered rates they would let you know in advance. Now unfortunately, the customer service over the phone is not the same. I understand that they did not have a rewards checking and that they appear to be phasing it out. They do not provide a heads up on the rates lowering. You unfortunately find it out when you see your interest posted. They should at least have the courtesy like the other rewards banks I have worked with to give you a heads up prior to the next months posting. I have asked if they would send an email at the beginning of the monthly interest period if the rates are going to be lowered or at a different rate but they said they do not have to. I wish them well but I expect to look for a more family oriented bank in the near future.
FYI to people going on vacation. PEOPLES UNITED BANK can, and did, cancel my ATM card without cause. Long story, short...they sent mail notification to my house 2000 miles away about a possible fraud. No phone call.I called them, they still would not reinstate the card, I faxed them my info as they requested, they promised to overnight a card, it was sent regular mail and arrived in Lexington, Ky after I had left. So, unable to obtain cash had to shorten my trip and drive home, no card still. Imagine it happening to you, maybe overseas....how screwed would you be. I am SWITCHING BANKS, you may want to do the same.
People's Bank is a convenience bank located throughout the Northeast. I started banking with them (checking and savings) five years ago when I started college. It has been nothing but your average bank with average accounts. The interest is what you gather is comparable with any other bank in the nation, and the fees they charge per account (nothing for me because I hold the minimum requirements) are in line as well. This bank has the upper hand when it comes to availability. They are open seven days a week which makes getting to the bank easy as pie. Their hours are longer during the week; they close at 7PM Monday through Friday, so swinging by after work is still an option. I have been to roughly a half dozen or so locations to cash checks, get to an ATM, etc. and I have yet to have a problem with their staff. People's has my business and will continue for years to come.
Experienced some of the POOREST service I have ever received from a bank or CU! And I have banked in more than a dozen countries, with dozens of accounts.
I needed to open a Merchants Account, and they were quite willing to start the process. However, they FAILED to request all the necessary information. Then it took four times as long as they initially stated because their processes are SLOW and OUTDATED! They made plenty of apologies, but I expect a personal banker to live up to their promises. Which did not occur!
They have continued to acquire smaller banks and as another reviewer suggests -- they are not bringing value to the market.
The only reason I remain a customer is that they don't outsource cc processing like most banks, though they don't offer stellar terms. Otherwise, I would dump them today. NOT RECOMMENDED...
They just took over Chittenden Bank (New England area), luckly enough they did not fire the original employees at my branches or this place would have no stars. They have changed all of the policies and now charge for everything. I can not even view online breakdowns of any transaction (once able to with CB) without a surcharge. They raised the minimum balance from $100 dollars to $750 - COME ON. YES, I am changing banks today.
People's tries to say that they can have low deposit rates because of service. That is not true and they have typical bank service and everything that requires a CSR tends to take at least 45 minutes. They have been taking over bank after bank and lowering the deposit rates. I hope that people are following and closing their accounts.