Mercantile Bank

5 stars
(0)
4 stars
(0)
3 stars
(0)
2 stars
(0)
1 stars
(2)
Category: Business & Finances

Contact Information
United States

Mercantile Bank Reviews

Sharon Platter July 11, 2011
Sent me a letter stating that they were ending the type of checking account I had and they...
I had and were putting the money in another type of account which would earn over 1 percentage point less. This change was to be effective on January 1st. They said if I did not like this arrangement, to come in before the first of the year and close out the account.

I came in three days before the end of the year to close out the account. The amount of the check didn't look right, but I was assured by the clerk who spoke broken English that it was okay. I told him I'd have my husband review it and if it was incorrect I'd be in the next day to correct it.

He said okay. The next day I called because they had not paid me the interest earned. They said since I closed out the account before the end of the month (two days early) they did not have to pay the interest. I told them if they had told me this, I would not have closed the account then. I would have waited the two days! They stated that I should have known.

The clerk also stated at this point that he was sure he told me. I told him, once again, doesn't it make sense that if told I was forfeiting interest due me by closing out the account early, I would have waited two days? I told both the clerk and manager that I was never told this bit of information.

They are still unsure of what to do and I'm out money I earned.
Eileen Cowart March 25, 2011
Bank removed $50 from my savings, moved to checking then deducted $30 from checking for "inactive fee"
I opened an account with this bank in oct. 2008 to purchase a CD and was required to open both a checking and savings account so interest earned could be deposited into a savings account. The TERMS AND CONDITIONS OF YOUR ACCOUNG" lists Special Treatment of Checking Accounts. It states"if your account is a checking account, it will become a master deposit account, which will consist of two sub-accounts, a transaction account that serves as a payment account and a non-transaction account that is a savings account. I have never written a check but every month interest from my CD is deposited in the savings account. I just learned they have charged me thrity dollars for inactivity of checking and moved $50 from my savings to restore the $30 to the checking to maintain the mimimum of $200. Since it is clearly stated that the two are joined as sub accounts I feel this money should be refunded and that the unauthorized transactions were illegial. What action can I take to get my money back?

Write a Review for Mercantile Bank

Rate it!
Review Title
You Review
Image
Type the numbers shown

RECENTLY UPDATED REVIEWS

Proudly serving Christchurch, Canterbury, and the wider South Island regions of New Zealand
Ritzy Charters
Ritzy Charters
Aten & Garofalo Dentistry
#1 Dentist in Indian Trail
Excellent Preschool with Caring Teachers
#1 Primary Care Practice in Pineville, NC
Professional Roofing & Reliable Service
Wingate Construction
Excellent service and quality products

REQUESTED REVIEWS

REVIEWS BY CATEGORY