This bank is just okay. My biggest complaint is that they have NO phone number on the back of their debit card, so if I have a problem, I cannot just call them. I mean, who doesn't put their phone number on their debit card? When I do find their phone number online and call, it has not always been satisfactory so I usually just have to go into the bank to handle the problem. A second problem I had was that I did not check my bank online very often, so when I was basically inactive for about a month and I would attempt to get online with them, I was told my password was invalid. After about the third month, I was ready to close it down. I had planned on switching all my accounts over to them, but decided against it. When I do go into the back the people are really nice and helpful.
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!
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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. 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.