TrustCo Bank Reviews

Average Rating:
Based on 26 review

Trustco Bank

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This bank doesn’t deserve anyone’s business. The entire country is on lock down, millions of people are unemployed due to covid 19. Banks are waiving late fees, penalties, even suspending mortgage payments without being penalized. TRUSCO BANK just charged me a LOW BALANCE FEE!!!! Called corporate and the branch and they verified THEY ARE NOT WAIVING A SINGLE FEE DURING THIS EPIDEMIC, GREEDY BUSINESS AS USUAL. Funny thing is, my balance has been below their set threshold before and I was never charged a fee. My next stop, Attorney Generals office

Always An Issue With This Shady Bank.

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Trustco, a shady bank. First off, their mortgages are very competitive. Rates are low and no PMI is a huge plus. But this bank is stuck in the late 90s and early 2000s as far as money accounts go. Their online banking system is archaic, slow and difficult to use. But the biggest issue is the shady fees and penalties with no warnings. Ive been with the bank for a decade with my mortgages. They've made a ton of interest off me in that time and thats fine. Recently however, without a warning, letter or email, and out of no where, they changed their checking account rules in so that you must have an average running balance of $500 a month or u get a 5 dollar fee tacked on per month. I rarely check my checking account because this account is strictly to deposit money for my auto pay mortgage each month. So I was angry when I realized how many fees accumulated over the months. They also refused to refund any of it.

Thats not the worst part though. Recently I forgot to transfer the money from my tax savers to my checking to pay for my school taxes. I sent the check out to Colonie and Trustco let the check bounce 3 TIMES!!! Without a single letter, email or phone call. This racked up over a $100 worth of fees. It was a honest mistake from a long time customer and they refused to refund any of it. Super shady! Not to mention without warning, letter, or email, they opened up an overdraft account which created a HARD HIT on my credit without my consent prior to the bounced check. Even worse, the overdraft account didn’t even safe guard me from the bounced check. Unbelievable! Will almost certainly refinance my mortgage with some other bank soon.

Trustco is the new Fee Bank and they show absolutely no loyalty, and refuse to help out their long time customers. Bait and switch shadiness!

Horrible Experiences

I always have issues with this bank. I switched to them, as they were close to where I live and were supposedly a better option. Wrong. So many issues and headaches and they aren't even apologetic about it. I had an issue with a bank manager who was rude and attempted to get me to sign up for something, which I did not want. Complained about it, and received a letter basically calling me a liar. Not once did they attempt to contact me and ask me my side of the story.

Expected Better

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I recently applied for a commercial loan from Trustco Bank, i was told everything is good and the only left for me to be approved is an appraisal, the loan officer told me Trustco Bank provides the appraisal, I was told the appraisal would take a week or two and a L.O.I would be provided in about a month. I found a property I like and entered under contract based on what the loan officer told me, I had closing date set for 2 months away. I told the loan officer I was under contract and gave him the closing date which he said was fine. He didn’t ordered the appraisal until 6 weeks later, which at that point I wouldn’t be able to close on time and at risk to loose my deposit. I had to pay thousands more so I didn’t loose my deposit and all the terms I ask for I didn’t get. Just to name a few I told them multiple times I wanted the property to be put in my business name that wasn’t done, told them multiple times I wanted biweekly payment that was not done and after 4 to 5 months of a long drawn out process and every week being at risk of losing my deposit, I did not see the contract until the day of closing, didn’t get to review it and felt forced to sign the contract because if I didn’t sign I would lose all my deposit. The most stressful and worst transaction I’ve ever done in real estate.

Worst Bank

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This is the worst bank I have ever dealt with. Their customer service sucks. One time, the employee even hung up the phone in the middle of the conversation. These folks have made my account dormant for silly reason. Just because I was not using my Trustco debit card for months should not make my account dormant. I ask the authorities to investigate the wrongdoing by this bank. Why can't I use my money now? coz you have made my account dormant, wow.

They asked me to send a letter to make my account active. Oh man, this is so lengthy process. Are we living in the beginning of the eighteenth century? I told them to close my account. They again asked me to send a signed and notarized letter. Oh man, this much hassle, this much hectic process. Why can't you verify my security info by asking me over phone? I am ready to provide you with my all security info (account number, ssn, dob, address etc.) you want. I have closed my bank account with other banks over the phone. Why can't I do the same with Trustco bank? Other banks don't make their customers' account dormant either for not being active for long time. I feel very shameful and irritated to have account with this bank.

They never respond to the message sent online through their messaging system. If you can't respond through the messaging system, why do you have that feature? Is this feature even working or do you even have dedicated resources to monitor the incoming messages?

Address update feature not working since too long and they damn care about it. Why the address line 2 never updates even after saving? Why don't the new data show in the updated Address line 2 even though the data (that was valid) gets saved? Stop advertising the bank as "Your Home Town Bank". This bank wouldn't even serve the basic purpose of a financial institution. Your IT system sucks equally like your other wrongdoings. Their mobile app is one of the worst (couldn't even view bank statements; Forget about other features).

This bank is a fraud institution and they just want to rob people's hard-earned money. PLAIN DAYTIME ROBBERY BANK. Name your bank like that. Would look awesome.

A Big Time EXperience With a Small Town Bank

We have been banking with Trustco Bank for almost 30 years now. Overall, the experience has been top notch. The staff, overall, is friendly, dependable, and knowledgeable, and will go out of their way to assist the customer. We have our checking, savings, ATM card, and safe deposit box with them. Their web site is pretty easy to use and the online banking is easy to use and super convenient. While there have been the occasional small glitches in customer service, these are very minor to the great service the bank provides overall. The locations are pretty convenient and are relatively attractive as far as bank design goes. I have no reason to move away from banking with them, unless I move, and look forward to another 30 years!

Excellent local bank

I have had a number of experiences with the bank including a savings account, a mortgage and an equity loan. Through each transaction I applied or functioned directly through a local branch . The local representatives are excellent. The service was fine. Any questions were answered quickly or through the local branch staff. If I needed a more upper level issue the Bank is based in Schenectady NY . I am in Albany NY

Terrible Bank!

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I had a few business accounts with Trustco. Reason why I banked with them was because they're the only bank in my area that has totally free business checking with no limitations. One day after banking with them for a little over 3 years, I get a phone call from the bank manager that she got an email from their compliance department that I need to close all my accounts, with no explanation. Frankly I was kind of relived because their service stinks and I was looking forward for quite a while to finally switch to Chase, so I was laughing my way to the bank! The bank manager was apologetic and expressed to me that they did it to a lot of her clients good business accounts without an explanation.

Anyway, this is what got me mad, a few days later I got a check in the mail for $138 with a letter attached that they decided to close my 4 year old child's passbook holiday savings account and they're sending me his balance. A 4 year old's savings account closed for compliance reasons.... Disgusting!

Hometown Bank Are You Kidding Me

while making a transfer online I was notified that my daughter was involved in a horrific head on collision, I inadvertently transferred the money into the wrong account and left town to be at my daughters side, not thinking about banking issues, my mistake caused a domino effect of checks bouncing. regardless of the fact that I had thousands more dollars in their bank to cover any check, when I got home two weeks later to the slew of notices I went to the branch and the managers first words to me was "did you put the money in the wrong account". With that proff of knowledge by the manager , you would have thought that she might have called me to make me aware of the issue, but nope, she just allowed the checks to continue to bounce and rack up over 400.00 in fees, try as I may to get the money back , they would hear nothing of it. This is just one of many, many issues with this bank including online banking fiasco created by the primates running the I.T. dept., don't be a fool like I was and think that they are a "hometown" bank, if your are with them move your money and business out as fast as you can because your problems will certainly come

Stay AWAY From Trustco Bank / Dishonest Business Practices

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Stay away from doing any business with Trustco Bank. When you get a loan and you experience a life event and fall behind on your payments they will not help you with options expect take your home. There position is we don't accept government assistance therefore we are not obligated to offer assistance therefore we choose not too.
Why are they allowed to continue doing dishonest business and not tell there customers this when they give you the money or right into the contract, because if they did you won't do business with them.
Shame on them how do they live with themselves and how do they sleep at night knowing they are destroying the lives of so many people/families. They should pray for their souls and salvation.
I got stuck in my mess don't let the same thing happen to you. Beware

HORRIBLE Customer "Service" From Day One!

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My very brief "relationship" ( I DESPISE how banks abuse this term) with Trustco Bank has been horrific. I have never experienced such "black and white," arrogant service, not to mention managers who avoid speaking with customers whenever possible. Just try to get in-touch with any senior manager at Trustco! It will be nearly impossible! Their corporate offices in NY? Forget it! You'll have an easier time reaching the Wizard of Oz! And if you do get to speak with a bank "executive" it will be very clear why service is so poor at the branch and lower management levels. These guys have absolutely NO CLUE about customer service! When I opened my account, I had hopes of eventually refinancing my mortgage with Trustco. Fortunately I decided to first open a basic checking account. Based on their "handling" of my initial business I am so glad I can quickly sever my ties with this lousy excuse for a "financial institution." If you're even thinking about doing business with Trustco, RUN, don't walk to your nearest credit union! TrustME, you'll be in better hands.

No Protection Against Fraud

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I have an account at the Windermere Fl branch and have major concerns about this banks’ ability to protect accounts against fraud.  On June 1, 2013 I noticed numerous fraudulent transactions in a pending status totaling almost $800.00 in my account.  I immediately called the customer service number on my card only to learn that this bank has no support on weekends.  I then called the Windermere branch only to learn that they cannot do anything until Monday when customer service re-opens.  On Monday, the local branch failed to act when they opened so all of the pending fraudulent transactions posted to my account.

On June 3. 2013 I completed affidavits for each fraudulent transaction and on June 5, 2013 provided the branch with a police report.  I have contacted the branch on a daily basis and they cannot provide me with any information on when my account will be re-credited for the fraudulent amounts charged to my account. 

If you are considering a relationship with this bank I would think about the lack of "after banking hours" support and their inability to handle potential fraud situations.  In their slogan they claim to be the home town bank but it is more like the backwards bank.   


Trustco- Seek A Credit Union

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I would rate 4-5 stars- ok bank; policies on check holds and fees are clear, even if you don't like theat they hold checks for 24 hours, checks are always free, and the ONLY fee on your accounts are if YOU overdraw it. What? do you really think the bank will give you an interest free loan?! ... you get the disclosure when you open your account people. Try other banks with maintenance fees, transactions limits, and charges for such things as on-line banking or Bill-Pay... The service is always friendly and helpful... I don't like the way they treat the employees. Tey treat them like pawns on the chess-board, and there is ALWAYS a different person sitting at the desk, having to eplain my situation to everyone not only gets old, waste time, but makes me feel very insecure... Just WHO am I giving my information to? everytime they look up my acct. they want my SS#. all these floaters, I can't tell who is still with the bank, and who is taking my information for later... and talking to these 'floating' managers, they don't seem to like it either- they have to pay for their own travel with only minimal reibursement  from the bank in their own vehical-far less then the $0.55/mile alotted on your taxes (at $4/gallon) - I feel bad for these kids- and I mean kids! they have the most inexperienced unprofessional 22 year olds sitting at a desk, who have to call other branches for simple answers... waste of my time.  They are ok for simple checking and savings accounts; try the credit uions for loans... Rumor has it they are downsizing- getting rid of employees (1-3 tellers) left and right... there goes the customer service aspect I liked.

Great Products And Friendly Staff

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This bank has stayed true to the way banking used to be-friendly staff that know your name and are available to speak to in person. You don't get transferred to some call center with an automated line that's impossible to navigate. Simple products without a "chart" to figure out if you will get a fee. No minimum balance to maintain and no monthly service charge. I have always have received great service and it's easy to maintain my account and not worry about getting hit with fees the big banks charge for no reason.

Your Account Freezes After Just 30 Days

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My checking account at TRUSTCO is a secondary account I use when I am in NY.   I hadn't used my account in about 2 months and decided to make two payments for state income tax using ACH electronic check on 1/15/2013.  Two weeks later the state sends me two letteres saying the payments were rejected because of "frozen account".  I called the bank thinking there was fraud activity.  They told me the account becomes automatically dormant after 30 days.  To make it active again I would have to make a deposit.  They didn't think that policy was at all unreasonable.  I talked with four other banks and they said they wouldn't make an account dormant for two years.

I pay my real estate taxes using ACH transfers.  Late fees on real estate are several hundred dollars.  This is a risky bank to do buisness with if you are a senion that doesn't do many transaction in a year. Monthly bank statments gave no notice that the account was frozen.  Oddly enough, I became an account holder because I have a large stock position in this bank.  I still feel an obligation to warn people about a practice that is so out of the mainstream.  I have also filed a complaint with bank regulators.

Terrible Bank Even If You ARE Local

We have used Trustco for CDs for a long time.  A bit of a pain to work with, but I only saw them once very 2-3 years.

We opened checking/money market accounts a week before Christmas at their Stuyvesant Plaza office.  The assistant manager forgot to order our ATM cards, and ordered our checks with one of our names spelled incorrectly, as well as our town spelled incorrectly.  The re-ordered checks arrived a few days ago, but when I checked our account, I find that Trustco had charged us to rush order the new checks. 

I assume that charge will be withdrawn (if not I will edit this comment), but so far our experience has been a tragedy of errors at every step.

The interest rate/required balance combination between the two accounts is good enough to keep us banking there temporarily to see if this nonsense continues, but we are actively shopping for a new local bank to house our checking and cash accounts.

“Crooks And Scam Artists”

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“Crooks and Scam artists”  They stole my own money out of my banking account now I have to wait weeks and weeks for the paper work just to see if I get it back... Trustco Bank  3707 New York 43 , West 

Issues With This Bank

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So here's my story and based on the other posts I have seen, I should have investigated further before banking here. I opened my account one month ago just because it was convenient to my house. Wrong move....

So I went in there and opened an account and made 2 deposits. One into the checking and one into the savings. No big deal so far. We received my checks a little while later and noticed that it had the wrong account number on it. We went back there to tell them the error and they told us "sorry, we can reissue you another set but will have to charge you". I need to go complain about that one. Then I got my monthly account statement and noticed that it was missing a deposit. I called about it (luckily I have saved my deposit receipt) and they said they would look into it and call me back. I waited 2 weeks and called again. I am still waiting for a call back. As soon as I get this money resolved, I plan to close this account and go somewhere else. It's just too many issues on the get go for me to trust them to handle any amount of money.

Very Poor Service

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I set up a new account with the Maitland, FL branch, detailing how we work and our cash flow pattern.  The branch manager assured me there would not be a problem.  However, after a month or two, their extensive check hold policy caused me a lot of grief, in spite of the fact, we've never had a deposited check bounce.  The branch manager, said, in effect, oh well, that's our policy.  I feel she lied to me to get the account.

I'm closing the account and set up another one across the street.

Trustco Scam

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I opened an account in 2010 thinking I'll be using it often but only made a $20 deposit and haven't used it since. I went to the local branch today to close my account and I found out that these crooks have closed it and won't refund my deposit claiming that there is a 'returned mail" fee that was assessed on the account. Ridiculous!!! I get mail every day, it's impossible to have only Trustco mail returned furthermore, I do have several letters from them extending some other financial products and offers... Even if the mail got returned they should call and ask for an updated address, they had my phone number, they had my wife's cell#... When asked to produce evidence that the mail was returned, the manager said that they probably don't have the mail any longer because it gets destroyed after a certain period of time but she will ask for it and if they have it they'll show it to me. It's been ONLY 3 months since the account was closed aren't they supposed to keep the evidence or documents for at least 1 year? This is a complete lie, a fabrication from the bank seeing no activity on the account, instead of putting effort into creating activity or contacting the customer, they decided to close the account and cash the funds hoping that the account owner doesn't remember he/she had an account or maybe he/she has passed away... Despite the insignificant amount this is an outrageous behavior from a financial institution and these crooks are  in for a big surprise... Stay tuned

Do Not Bank Here!

I had the unfortunate experience of receiving a counterfeit bill from Trustco. They told me they would not reimburse the money even though they issued the fake bill. I had to file a police report. The banks position was that customers are responsible for counting the money (which I totally understand), and also responsible for determining whether their money is real or fake! I couldnt believe it. Two employees also said they hand out fake bills often. Dont go here & get burned.

Terrible Bank If You Are Not Local

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I moved to an area where there is no branch of Trustco anywhere nearby, so any kind of dealing with them has had to be through phone and snail mail.  It is the most backwards and frustratingly inconvenient banking I've ever had the displeasure of doing business with.  

Very inflexible methods of communication are used.  In the past (I've been with them over 11 years, not my choice) if they needed to communicate, it was only through mail, even though my phone number was in their records, but apparently dialing it was too much effort.  I've had to call numerous times to change my address (for the same residence).  

Any kind of dealings with them through snail mail has to be notarized, and then when you need them to reference said mail, it's a gigantic hassle.  As in "the manager isn't here, I can't find it".  Are you kidding me with this - does the manager keep mail on their physical body?  Is this 1930 that you have to rummage through a desk?  Needless to say, it's not at all a pleasure to deal with them and as soon as I can withdraw my money, I will cease doing business with them.  

I would love to give them just 1 star, but in person they were fine.  It's just that if you live in the current age, be prepared to take a dive in the past.

Trustco Bank Is Horrible.

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Trustco Bank is horrible. Customer service people will get rude with you and hang up on you. They will also refuse to provide you with their last names because they do not wish to get in trouble. They do not move quickly to resolve your issues and will allow people to rip you off.

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