Banker Reviews

Sometimes we need to choose between some companies to select the right one. This concerns financial institution as well. These companies can make or break the lives of people. That is why it is very important and even vital to make the right choice and choose the financial services company that would fit all the needs and desires of the client. And this company can be Commerce Bank.

Company overview. Commerce Bancorp dba Commerce Bank is a bank holding company. Commerce Bank provides a diverse range of services of financial nature such as commercial banking, consumer banking, brokerage services and investment services. The bank operates in 9 U.S. states. Commerce was originally by an owner of fast food restaurant franchise to bring fast food convenience to banking. The tagline of the company is: “No stupid fees, no stupid hours.” Commerce Bank is headquartered in Cherry Hill, New Jersey.

Commerce Bank features. There is a number of financial services performed by Commerce Bank that include seven day drive through hours, immediate fashioning of automated teller machine cards at the very moment of opening the account. In addition, the company offers to use its free coin counting machines and foreign ATM fee reimbursement. Besides, there are special dog cookies in the lobbies of Commerce Bank location stores and lollipops for human clients.

Criticism. There have been several law suits filed against the Commerce Bank executives. These law suits alleged that those people were involved in corruption. Besides, Commerce Bank paid a huge penalty to National Association of Securities Dealers for some violations of MSRB. There have been numerous complaint filed by the clients and former employees of the company. People state, that Commerce Bank provides very poor customer service. Customer service representatives are being very rude and intolerant to the customers and cannot help. They seem to be incompetent and inapt people that are able just to make the situation worse by their indifference and rudeness.

Bank is the residence of money. There is not such a person in the world who have not had dealt with banks. People go there to open an account, to borrow money, to pay bills and the like. Do all the banks offer proper service to their clients? Do banks take claims for granted and ignore them or they properly handle people’s complaints? It is easier to speak using your own experience.

What is KeyBank? KeyBankis a bank headquartered in the Key Tower in Cleveland, Ohio. KeyBank is owned by KeyCorp which was formed in 1994 through the merger of Society Corp. of Cleveland (”Society Bank”) and Key Bank Albany, New York. The bank provides investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company’s businesses deliver their products and services through branches and offices. It has almost 1500 ATMs in 13 states where full service branches operate.

Bitter experience. A friend of mine opened an account in the main office of the KeyBank in Cleveland. She was told that for the first 5 days only 3% of the sum would be available and in 5 days the rest of the money. When in 3 days she went shopping it turned out that more than those 3% were withdrawn and the next day she got a letter informing her about a debt on her account and which would be covered with the money that would come in 2 days. When the time came it turned out that the amount of the withdrawn sum was doubled. No one in the bank could properly explain the situation. Unfortunately, she did not manage to get her money back.

A tendency? And that is not the only case of such misunderstandings. Lots of people send their claims to KeyBank but no results. Improper instructions, wrong pin codes for plastic cards, unpredictable fees and charges – all these things should have decreased the reputation of the bank. But no! It is the 12th largest bank in the United States based on total deposits. How come?

Large banks are not reliable because numerous clients and big sums of money cause constant misunderstandings and confusions. Small banks can go bankrupt very soon. You never know where to go ‘to be right on money’.

Sometimes I just cannot but wonder how some fraudulent companies can still be in business. It seems like there is no law for them ad they just keep on cheating unaware customers – honest people, who do not deserve to be hurt and broke. Especially it concerns financial institutions, which business activities have to be transparent and well known. And unfortunately, some of these suspected companies keep to perform their shady business and no one can judge or punish them. But sometimes there is some hope for justice and these companies are punished. Like in case with Chase Bank.

Class action suit. In 2004, there have been several class action suits filed against Chase Bank. It was so evident that the bank is performing like the outstanding con artist, Better Business Bureau and Attorney General finally decided to interfere. That class action suit stated that the bank is creating a fraudulent business environment and spreading scam on the territory of the whole United States. Thanks to many efforts of poor people who had suffered because of Chase, the judge made the financial institution pay several millions of dollars in penalties. And to close several branches and prosecute some of the most fraudulent employees of the bank.

Results. But after that case Chase Bank did not file for bankruptcy or started to close some of the branch offices. They decided to choose the other strategy and had enough money for that. There is now a strict control of all the activities the employees perform and the managers are constantly monitoring the state of affairs. The customer service of the bank has been upgraded. It is very hard now to get a job at Chase. But it is very hard as well to return the trust of the customers. Who would like to take Chase mortgage now knowing the reputation of the bank? Or Chase loan?
There is no trust, still.

The desire to possess your own home is very natural. That is why so many people are experiencing it. That is probably one of the most wide-spread dreams of the mankind. Many people want to have their own place, which they will be able to call their and where they will be able to have their own rules, like their own kingdom. Besides, your home is that house where your family live, those close people who are the most important in your life. And home is the place where you are eager to go from work, where it is always pleasant to return because some part of your soul is there. That is why so many people want to have their own home and decide to take a residential loan in such companies like EMC Mortgage or Wilshire Mortgage.

EMC Mortgage. This company is considered to be one of the leading companies in the residential loans industry. It develops rapidly and the number of customers of EMC Mortgage is growing from year to year. And it seems like nothing can stop the march of this lender. But still, there are many negative reviews on the work of the company. The customers of EMC Mortgage state that the company does not care about the customers like persons, but consider them just like the amount of dollars. And that is why it is very difficult to solve some problems with payment and to communicate with employees.

Wilshire Mortgage. Wilshire Mortgage is also a very popular residential lender. And this company has its own problems. The company has different mortgage programs that allow customers with an average credit record to get a loan. But the interest rates of these programs are really huge. And pretending that it wants to help people to get their own home and get back on their feet, Wilshire Mortgage just keep on robbing the customers.