The Bancorp Bank Reviews

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Based on 22 review

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Worst Customer Service And Wait Time In The Industry

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I needed help one day from customer service so at first attempt I emailed support, they auto-responded with a message that said I could expect it to be 4-5 days to receive a response. I then tried calling, entered my ss#, my date of birth and the last 4 digits of my card like it asked and it kept telling me that the information didn't match. I then tried the other option and they said waiting time was 15-45 minutes. I waited a while and finally decided I don't trust my money with companies who do business like this. I also was not allowed to change my address via my computer, they make you do it from the app then tell you that if you want your card sent to your new address you have to call them. You know on that customer service line they don't answer and give you the rigamaroe on. Thank God I was smart enough not to deposit that much money in this account, I will stick with Bank of America. Varo is a sham designed to prey on the desperate. Had I not of already had other accounts elsewhere I would have had a serious issue.

Fraud Activity

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Someone used my identity to open up a fraudulent acct. The customer service rep was unable and unwilling to help. I have to send a general email to get any help?? You would think they would have someone who could help so frustrated still waiting on a response. Worst bank to work with!

Unreasonable Red Tape & No Answers

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We had an HSA spending account that our insurance provider (Highmark BCBS) switched over to Bancorp about a year and half ago. The moment we began working with this Bank, the problems began. There are too many to list, but the bottom line is that we've been unable to use, access, or transfer the remaining funds in the account that have been steadily diminishing due to Maintenance Fees. Every time we call Bancorp, they send us back to our insurance company (who does not have our HSA funds). I have done what they have asked me; faxing account closure & transfer forms, calling anyone & everyone but someone in there company for help and we are told that they can't help. PICK ANOTHER BANK. If they should somehow reply to me from my post here and fix my issue....I WOULD GLADLY REMOVE THIS REVIEW. Please call me Bancorp and fix this issue. Please.

Replacement Chime Card Issues

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My Chime card was lost. I requested another card. They say they sent it but I never received it. I thought someone was getting into our mailbox or something. So after some time, I contacted them again. So they said they'd mail me another. It's been months now. So I contact them and they say they need a copy of my drivers license for my address verification. They've never seen me in person so....ok. I send them a copy of my DL. They emailed back to send a better copy, they couldn't see all my info. (Note that I have a photo of my DL saved because I had to send it to someone else, WHO COULD READ EVERYTHING ON IT, THE FIRST TIME.) So I took an even better pic of my DL and sent it. They email me back with ANOTHER request for my DL AND a utility or some kind of bill with my name and address. So I send them the better copy of my DL again along with my cable bill. They just emailed me again, now asking for a picture of my BIRTH CERTIFICATE!!! I absolutely REFUSE to send them anything else at all! Someone is trying to steal my Identity or something! I'm sure they will email back wanting a pic of my social security card next! If I have any discrepancies with any money, social security, income tax, pandemic money or anything strange at all, I'm saving all correspondence and I'm contacting my states along with California's Attorney Generals and BBB today! They can keep their damn account! Thank God there is nothing but change in that account right now.

Closed Account For No Reason

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I have been using the services of PayPal prepaid and they use Bancorp Bank for all transactions. All of my deposits go to Bancorp and I have an account number with them but I use PayPal as an intermediary. Today I was told my account has been closed and given no reason for the closure except to tell me I wasn't compliant with terms and conditions without giving me any specific violation. I've had this account for 5 years and do all of my bill paying and get my paychecks through direct deposit and now have to go change everything for no good reason at all. Very bad business.

I Agree, Bancorp Safe Harbor IRA Must Be Illegal, Hope Feds Investigate

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My previous employer sent me paperwork that stated if I didn't fill it out, my 401K would be distributed to me by check. Since it was a small amount and I got the paperwork THE DAY before it was due, I thought, I know it will be even smaller because of taxes, but I'd rather just get the check.

Imagine my surprise when instead of a small check, I get a letter that states on 2/17 my small amount was rolled into Bancorp WITHOUT my permission. Even more concerning, to revoke this enrollment I have to send something notarized. What I have to send to them notarized is NOT clearly stated in the document, so I call the phone number.

The person on the phone will NOT tell me what documents I have to send in UNLESS I give her my social security number and DATE of birth. I was upset but she kept invoking the PATRIOT act but I was thinking, I don't want to access my account, I just want to find out how to revoke the Safe Harbor IRA that I DIDN'T SIGN UP FOR.

So she tells me I have to download 2 documents off the web, xerox my DRIVER's license, and get all this notarized. I have 10 days from the date of the letter which is Feb 27, so I have to do all this by March 6. Mind you it's already March 2 by the TIME I GET THE LETTER.

So the amount for me is small. Some others probably aren't that lucky. I'm going to let the thieves get away with it because a) they already have too much of my NPI information for my taste so they don't need my driver's license, b) the hassle of time to print the documents and NOTARIZE them is prohibited especially since I only have a few days to find a notary, and c) I'm hoping that someone who is looking to do their job as a financial investigator looks into this company's practices because of my experiences and others.

Bancorp Horrible

I received paperwork in the mail saying a previous employer sent my 401 k to Bancorp bank which was transferred into an ira and place in a safe harbor account. I file all the paperwork and followed instructions to close this account. Was told it would take 20 business days to close. After 20 plus business days I called to see if the account had been closed, was informed it had not been closed and they needed more time to close because other customers accounts had to be closed first because first come first served. I never heard this in a business setting before. It appears customers service has no idea whats going on and refuse to allow you to speak to management.I can't understand why a bank would continue to lie to you about closing an account. Now I xan no longer check my balance because my information is not being verified my the automatic system. This is a complete horror story.

Bancorp Safe Harbor IRA-Has To Be Illegal.

My job transferred my 401k here after I parted with the company. Once I was notified that my money was placed with Bancorp I immediately set and paperwork for them to distribute my funds. The experience has been horrible. They tell you to expect to receive your distribution within 20 business days however what they don't tell you is that they don't plan to review your documents till the 20th day. After that they give you a fake excuse as to why they can't distribute your funds such as not being able to see your ID clearly. They ask you to send another copy of your ID in and advise you that it'll be another 20 business days before you can receive your distribution. They continue to do this 20 day process over and over until you give up on receiving your distribution. All the while your money is sitting in Bancorp Safe Harbor IRA account they're making float off of the interest on your money. This has to be illegal. The customer service is pretty awesome if you like talking to robots. I almost feel sorry for them because they have to sit and lie to you abecause company they work for have no intentions of Distributing your funds. I imagine they're being paid very little to be yelled at by customers all day. If you call into customer service to be prepared to hear, " I apologize for your inconvenience" at least 10 times before you hang up the phone.

Crooked Scam

it is surprising that no one has looked in to this shady company. They can't tell u anything about YOUR money. Avoid if at all cost.

Horrible Baning System.

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I been trying to close out an IRA that was placed with this bank when I left my job last year. They claim it takes 20 business days to close the account and an additional number of days to receive the funds. Customer service refuses to allow you to speak with management. Mange money lied and say she would give weekly updates on account closure. Rest assured this bank is awful !!!!!!!

Awful Service Still Have Not Received My Money

I had a prepaid card that was issued through the Bancorp bank and apparently the morning I have my tax refund deposited into the account they decided they were going to close it after receiving the refund instead of sending it back and having a check sent to me from the IRS know they had to accept it and now I'm dealing with the Bancorp bank I did receive a check with the amount for my refund from the Bancorp bank but I couldn't even get it cashed the check cashing place said they could not verify the funds so I had to bring it to a regular bank regions bank and open up a checking account with the deposited check from the Bancorp bank and they tell me they're going to have to put a 7 business day hold on the check I will not have access to my $6819 check until the following Friday this was recent I deposited the check on February 17th 2016 and was told that the check would not be available to me until February 26th 2016 and that's as long as the funds are verified so at this point the Bancorp bank still holds possession of my money and I'm very highly pissed off right now and because instead of having the money to pay my bills and take care of my three children I'm still waiting on this awful bank to finish the process of returning my money so I've already made complaint with the Better Business Bureau twice I've made a complaint with the FDIC twice I've made a complaint with the State Attorney's Office in charge of Consumer Services once my next step is further and hopefully I won't have to go there so wish me luck that I receive the deposit by February 26th 2016 and hopefully Bancorp bank resist because I've also spent many many messages to the fraud department of who I got the first message of them closing my account

T-Mobile Visa Prepaid Card Scam

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I purchased a Visa prepaid Card at a corporate T-Mobile store. I loaded it with $156.00 cash. I called the toll free number to register the card. Tried to use it to make a pmt but the card wouldn't work. I called back and was told that there was a 3-5 day hold on the card. The lady would not give me a reason for the hold. I asked for a supervisor but she was no help either. Very rude lady she hanged up on me. Very disappointed T-Mobile would do business with this bank.

Stay Away From This Bureaucratic Scam

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My experience with Bancorp HSA has been horrendous. Twice when I paid my medical bills online through my HSA account they never got sent to the provider. I would eventually receive the lovely surprise of a bill from a collection agency . After hours and hours on the the phone with Bancorp over a period of several months (having finally paid the collection agency in order to protect my credit) the issue was never resolved. I was never allowed to speak with anyone that could actually view the account. I would be placed on hold while someone in a call office with no information to work with whatsoever would speak to someone else who would tell them that they would contact me in 3 to 4 business days. EVERY SINGLE TIME. FOR MONTHS. My notes on their side (in the call center with no information beyond notes of phone calls) at one point supposedly said that they had contacted my health care provider that very morning and were told that payment had been made. Case closed. I was shocked and immediately called the billing department of my health care provider. They had received no such call and no they did not receive payment. It was a nightmare. Twice this exact same thing happened. They kept the money both times that I had contributed to my HSA from my paycheck. I was just talking to a brick wall every time I called. I begged for a three way call to the billing dept, begged to actually speak to someone who would have a check or record of any of this. Brick wall. HSAs are an insurance scam to begin with. Stealing the hard earned contributions that I had made to pay for my own health care while paying for "insurance" just added insult to injury. Bancorp is a ridiculous bureaucratic nightmare.

Looks Fraudulent To Me

We have faxed information three times to cash out of an IRA. They claim to have not received it and said they needed the area code to trace it. No one cares about helping, and you get the sense that they do not want you to have your money. Avoid!

Looks Like A Fraud, Acts Like A Fraud, Most Likely IS A Fraud.

A couple of days ago I made the mistake of purchasing a prepaid Visa card from this bank to make an online purchase. One account said the bank responded saying the funds were "reserved." Another account said they refused them payment as well. I went to their web site and called their number and a recording said this number was not available in my area. I Emailed this morning and have no response. My next call will be to the main office of Rite Aid which is where I bought this useless piece of plastic. It is a damn shame when you make a purchase from a legitimate business and find the product is bogus!!!

Bancorp Bank

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I had a $1000.00 loan returned to the loan company because Bancorp is not a "traditional" bank.  Now I have to open a checking account with a "traditional" bank and wait 30 days to receive the loan. 

Frustrated With Bancorp!

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I have a checking account through Bancorp that was given to me from the university I was attending. I had it for about a year without any problems (mainly because I didn't use it). I decided to make the account one of my primary checking accounts and that has turned out to be a big mistake. The bank goes offline and I have no access to my funds. I tried both debit and credit transactions and both were declined. It is becoming a frequent problem and I never know when it will happen. I was at 7/11 the second time it happened and had to put my items back (and yes, I had plenty of funds). As of now, my account is not being recognized via pc or their automated system. I am so frustrated. I am going to report this and promptly switch banks. This bank proves to be unpredictable!



Bancorp Bank Tries To Make You Pay For Their Mistakes.

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After attempting to cash out my IRA, I was wrongly mislead over a dozen times, received someone else's information via email and lied to several more times.  When I wanted them to fix their mistake - they wanted me to pay for it.  

How do I know they haven't sent my information to other people?  How do I know they actually keep my confidential information private?  In two words:  they don't.

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