South State Bank is headquartered in Columbia and is the largest bank in the state of South Carolina. It is also the 114th largest bank in the nation. It was established in 1934 and as of June of 2017, it had grown to 2,260 employees at 137 locations. South State Bank has an A+ health rating.
I have thoroughly enjoyed my experience at South State Bank. I primarily use South State Bank in order to deposit checks and for their debit card services. There have been times when I accidentally over drafted my account and after talking to my favorite representative, she had the overdraft charge cancelled. The overdraft was completely my fault, however, South State Bank was understanding of my situation and accommodated my needs. I have done business with larger banks and this is not the norm. When you are a client at South State Bank, you feel as if they really care about you.
I joined south state Bank (known as first federal at the time) a little over a year ago. After a bad relationship with a previous bank I was a little nervous about trusting another bank. From the very beginning their employees were very friendly, patient, and willing to help. They helped me pick the best account to suit me, which just happen to be their first free checking. So I was happy to have a checking account with no monthly fee. I never had any problems with them at all and when it came time to find a new car they provided me with a loan at only 1.99 Apr. It has been well over a year and still love this bank.
Great bank unless you like to use your debit cards.. I use my card and the next attempt it is blocked. Call the # provided and get told cards are reactivated after verifying the transaction. But then go to lunch with the family and get embarrassed because card is declined... Call back and asked did I use the card at this restaurant...yes I did and you declined it... We're sorry your card is really activated and good for use... Declined again.. And again and again... Call back did you attempt to charge at such and such... Yes I did and you declined it.. We're sorry cards are good now. No they aren't they still get declined..... Now I have to wait till Monday to go into a branch and get it straight cause it is a sat. And y'all aren't open so I am careless until Monday.... It is straight b.s. that every time the card is used I have to verify the purchase and card is blocked..
I am with South State Bank because they took over First Federal of Charleston, which I'd been with 25 years, my Bill Pay is set up there and a few of the old timers are still around. First thing they did was cancel the high interest account FF started to attract deposits to increase value before selling to SSB. I'm getting 1/10th of a cent on account with tens of thousands of dollars in them. I email a branch manager a question and my email is ignored. And I have repeatedly had the same humiliating and expensive experience with my debit card being blocked when i have plenty of money in my account. The branch manager told me it was for my protection as they area small bank and do not want to have to cover fraud. Hooey! That is for their protection! As the other writer mentioned, there is no customer service on weekends, which is really unbelievable.
Bottom line: Banks not giving us access to our own money is deeply troubling. I'm trying to get away from all banks. I trust them not one iota. Look what they did to our economy and what they are doing now to build a pipeline on private land. Look how they are brutalizing people in North Carolina trying to defend US Constitutional law. If i could i would try a member owned credit union.
Do not give yourself the headache of opening a checking account with this bank!!! Outdated technology can't compete with other banks and balance shows previous day posted.
You really can't believe what they tell you your balance is without manually tracking every single charge. I've incurred three, yes three, overdraft fees in the last week because transactions from three days ago are either just appearing on the account summary in the app or due to the fact that pending transactions don't always show up. Additionally, trying to access paperless statements (or even online banking) through Safari does not work at all and there's no link to a full site. The mobile app doesn't help out with statements either. I feel like I have no visibility or control on my finances in this account. I was only keeping it because I am a former employee from one of the banks (multiple branches) they acquired and I still know great people who still work there and keeping that account makes me feel like I'm helping to support them.
Too bad I can't give zero stars.
First, my debit card needed replaced and after not receiving it for 10+ business days, I went back into the branch. I can tell that their systems are cumbersome as a simple card request seemed difficult both times. As it turned out, the original card was never completely ordered. She re-ordered it for me and it arrived shortly thereafter. While reviewing my finances, I found that I was being charged for a magazine subscription I no longer wanted but couldn't figure out how to cancel and called customer service for assistance because the description in the ledger wasn't detailed enough to locate the source to cancel. Apparently THEY NEVER CANCELLED MY OLD CARD which is where the subscription was being charged!!! So if my card had been lost/stolen, it could have been so much worse.
Finally, when I called customer service about the overdraft fees tried to transfer funds in time but again, I cannot reiterate how slow their transactions process) she said that they should only show as pending and would fall off once the batch ran overnight because the charges that incurred them were less than $5 swipes on a vending machine. GUESS WHAT? THAT WAS NOT TRUE AND DUE TO THE DELAY IN PROCESSING THE TRANSFER, A 4 DAY OLD CHARGE POSTED AND I GOT ANOTHER FEE!!! That's 3x$36 = $108 and I just flat out can't afford that.
I will be closing the account the first chance I get if they can't get these fees straihhtened out and really it makes no sense because I know the branch manager where the acct was set up reviews and reverses invalid OD Fees every morning. Such garbage.
Do not ever use them if you value customer service. We purchased tickets for the the Wings Over North Georgia air show (that was rain or shine) and they cancelled the show due to rain and would not refund our tickets-Wings Over North Georgia said we could drive back to Rome the following day (4 hour drive and rain prediction that day as well) or we could go next year...so I opened a dispute to get my money back with South State. South State denied my dispute by saying that it was "clearly stated on the website that there were no refunds"...I was like, "Well it was also clearly stated on the website it was rain or shine and they cancelled the show"...she said that it didn't matter the decision was made and that the case was closed. I even told her that I would be leaving the back because I felt this was poor customer service and all she said was "Is there anything else I can help you with today?". I'm canceling my account for a bank that will take better care of my money.
Here is why you should not use SCBT (South Carolina Bank & Trust). A month ago, I traveled from Las Vegas to Los Angeles for the weekend, and my debit card got blocked after one transaction. I couldn't reactivate it because the customer service helpline runs only during the weekdays and on Saturday from 8:00-2:00pm. Stuck without money, since it happened after 2:00pm on Saturday, I had to wait and borrow money just to get home. This happened AGAIN this past week in San Francisco, and again, the customer service hotline was closed so I had to borrow money to get home. I sent this message to them in reply,
"Hello. I am contacting you again because of SCBT's lack of urgency to help one of their long term patrons. I am currently stranded in San Francisco with no cash. Why? Because SCBT deactivated my card again. I have no way of mitigating the situation because the customer disservice helpline is closed for another 24 hours. I am hungry, helpless, and it is all due to what I am sure will be explained as a "safety protocol". Have I mentioned that the exact same thing happened a month ago when I traveled to Los Angeles for work? I keep trying to find a way to rate your services, but I cannot find a selection for "negative five stars". Get your act together SCBT, not because I plan to remain as a patron to your excuse for a business, but rather so that future unfortunate patrons don't experience the same egregious customer service that I am experiencing right now. Do you roger that?"
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|FDIC Certificate #||13425|
|Return on Assets - YTD||1.03%|
|Return on Equity - YTD||7.26%|
|Annual Interest Income||$203.7MM|
|Assets and Liabilities|
|Assets||Q2 2017vs Q2 2016||$11.15B$8.72B|
|Loans||Q2 2017vs Q2 2016||$8.21B$6.43B|
|Deposits||Q2 2017vs Q2 2016||$9.06B$7.19B|
|Equity Capital||Q2 2017vs Q2 2016||$1.64B$1.13B|
|Loan Loss Allowance||Q2 2017vs Q2 2016||$43.9MM$40.7MM|
|Unbacked Noncurrent Loans||Q2 2017vs Q2 2016||$38.3MM$37.3MM|
|Real Estate Owned||Q2 2017vs Q2 2016||$14.4MM$22.4MM|
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