Consumer Complaints: Webster Bank, National Association

XXXX a division of Webster bank has XXXX my online access and frozen my funds. They did not notify me of why this happened. After several attempts to access my money and speaking with customer service I received an answer that there was a freeze due to a transfer request. XXXX requested I send a copy of driver license and bank statement via an UNSECURE email. I had no choice but to comply and send the documents. I received no reply after the information was sent. I called the following day and was told it would be resolved in XXXX hours. I spoke to them the following day and was told it would be another XXXX hours. Not being able to access or transfer my funds has caused other accounts to be overdrawn and for me to miss payments to other businesses. Unacceptable to withhold a customers funds with NO information on a resolution.

I am a XXXX XXXX employee. On XX/XX/XXXX, I enrolled in XXXX 's XXXX program through XXXX, the fXXXX XXXX XXXX XXXX XXXX program. As part of XXXX XXXX 's program I can invest in an XXXX. The only option permitted by XXXX XXXX to manage and run the XXXX account is XXXX Bank, a division of Webster Bank XXXX.

Up until this point, XXXX Bank has collected the money that I set aside for my XXXX savings, then allowed me to transfer the funds to either XXXX or XXXX for my own management of the XXXX funds. XXXX offers no fees on management of an XXXX account, and users must only pay the fee of whatever wide variety of options of mutual funds or stocks they choose to invest in, and there are thousands of choices available for customers ( in most cases, very low fees close to 0.02 % for a mutual fund that tracks the XXXX & XXXX XXXX. ) However, on XX/XX/XXXXXXXX XXXX 2024, I received an email from XXXX Bank that stated that all customers must, starting from XX/XX/XXXX, invest their funds through an investment platform called " XXXX XXXX '' which charges a flat management fee between 0.1 % - 0.35 %, between 5x and 17x as much as the current management fees. Thus far, XXXX Bank has not provided consumers with any information about what investment options will be available to them. Therefore, we are being forced to pay higher fees for completely unknown investment options.

In addition, XXXX Bank will no longer allow us to make changes within our XXXX accounts. I am only permitted to sell my holdings in XXXX and transfer the money back to XXXX Bank if I want the money to remain invested.

These changes are blatant profit-grab from XXXX Bank that reduces consumer choice and control, and increases junk fees for what thus far appears to be worse options. This is blatantly anti-consumer behavior. As a XXXX employee, I have no other choices for management of my XXXX.

Scammed from a company called XXXX XXXX who claims to do business with the USPTO ( United Stated Patient & Trademark Office ) XXXX XXXX went as far as submitting my 3 applications with the USPTO to make it look like they were doing something then over time took approx {$40000.00} from me leaving me in a financial deficit etc. With that being said, my last transaction was through wire fraud with Webster Bank of {$18000.00}. After showing Webster Bank the money transfer information for XXXX XXXX XXXXXXXX they never check the fake Bank Address that was listed for XXXX XXXX XXXX. I feel that they should be held liable for the {$18000.00}

In XXXX I successfully transferred funds from my Webster Bank/XXXX XXXX XXXX to my XXXX Savings Acct . In XXXX I initiated a transfer & it was Canceled due to security issues.

I called customer service multiple times..it took over a week to get an answer that simply was : " Webster Bank is NO longer allowing any transactions with XXXX!

I demanded to speak to a manager. All he could say IS : " This was an executive decision made by Webster Bank '' Due to this problem..I now have to make TWO separate transfers to get my XXXX XXXX transferred to XXXX.

Because of this issue..I couldn't get funds transferred timely to cover paying off a BILL that has cost me {$120.00} in interest charges!

Extremely dissatisfied, PLUS this EXECUTIVE decision was NOT communicated ahead of time to Clients!

Webster Bank purchased my mortgage from my mortgage broker. Subsequently, they pressured both me and my fiancee to open checking accounts with them, claiming it was not possible to pay the mortgage online without having a checking account with them. They assured us these accounts would not charge any fees. However, they have charged us fees on several occasions. Further, it has come to my attention that it is entirely possible to pay our mortgage online without having a checking account with Webster.

The net result of this is that the bank has lied to us about the need for, and nature of, these checking accounts in at least two ways.

Now, I am asking them to close the account, and they are refusing to do so.

Specifically, XXXX XXXX, XXXXXXXX XXXX XXXX Manager, at the XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX, is refusing to close the account and telling me that I need to visit a branch in person. I know this is untrue, it is simply a tactic to try to force me to keep an account I don't need, that they lied to me to compel me to create, and on which they are charging me fees that they also lied to me about.

XXXX -In California, and need to withdraw cash to replenish my XXXX XXXX XXXX account, which is dangerously close to being overdrawn.

-I found out that WebsterBank stopped my debit card without warning, and told me Id never had one, treated me like I was crazy to think that Id ever had a card in the past XXXX years.

-Webster also changed my business debit pin without warning, and wouldnt allow me to change it back.

-(Side note:
Havent been able to use app since the merger many months ago . Been using the online version all this time. The bank had not been able to help me with this problem. I just deleted the app and reinstalled it, and it finally works after all this time.)


-They advised me to move my XXXX from XXXX XXXX XXXX to Webster, in order to fix the problem, which led to me not being able to use XXXX at all.

-They would not give me access to my own money for XXXX days, which caused me to overdraw my other bank account, bc I was not able to replenish it

-they refused to reimburse me for the overdraft fees that they caused

I was unable to work during this time on the phone. Lost wages.

-they told me to just go to the nearest branch, knowing full well that I was on the west coast . XXXX
Home in XXXX
-Drove XXXX minutes to the XXXX XXXX XXXX at XXXX and they were already closed. Absolute waste of time and money. Drove home.

-Drove XXXX minutes to the XXXX XXXX Monday at XXXX, and they were closed.
Drove XXXX minutes to XXXX XXXX at XXXX and stood on line for XXXX minutes.

-was told that I shouldnt close the account until after I know all of my business deposits have cleared, but withdrew cash to replenish XXXX XXXX XXXX account. XXXX
Noticed that my personal checking account no longer exists.
I gave a one star review to the branch online.
Received a call from the local branch manager, asking why I gave the low rating.
She only cared about her own branch, and left me to deal with the other issues myself.

Going on XXXX hours of time dedicated to solving these problems. XXXX

Called the XXXX number.

Agent said that I had requested to close the account, and they mailed me the remaining balance.

Important : The teller at the local branch said last week that I couldnt close the account without first removing anything that was attached to the account, and now I cant do that, AND I dont have money to pay my credit card, which is due today, so Im going to get hit with fees for not paying my credit card

In the ninth hour now..

The agent asked me why Im so mad, (!?!?!) I had already told her XXXX times why I was mad.

She eventually connected me with a manager, after several requests

I asked the telephone manager , XXXX XXXX, why only XXXX of my XXXX accounts had been closed, and she said it was because he only closed one of the accounts. Genius.
So I was told that neither account could be closed, and they closed one of them. I made it clear that I needed cash, so they sent me a check, and its now going to be at least XXXX days before I can use that money.

I have to pay my credit card bill today, so thats going to be an additional fee.

Again, I was told at the branch, that NEITHER could be closed until I remove any connected merchants.

Manager XXXX XXXX asked me to email her a written statement of everything, which I did. Naturally, she didnt respond, so I called back. I spoke with somebody named XXXX, and she tried to get XXXX back on the line, but of course she doesnt answer her phone. I have to start again tomorrow.
We are now XXXX into this. XXXX Spoke with XXXX at the XXXX XXXX, and explained that I did not request to have the account closed, but he said that I apparently called the branch the day after I went in, and requested that they close the account. Of course, the manager, XXXX, is not in for the next XXXX days. So the bank has no management during normal business hours.

XXXX
-Still no call back. Called XXXX number and asked for manager XXXX XXXX. Was told that she isnt a manager, and that I was given false information. Just started the XXXX hour of total phone time.
I made it clear to the phone agent (XXXX)that the problem with the account closing isnt the big part of the problem. So she reached out to the branch manager , XXXX, who is only interested in fixing the smaller issue that I said isnt as important.
After being on hold for XXXX minutes, she said that I had requested to close the account in writing. (Yes, I had, but then I was told by XXXX that it would not be smart to do that until Im XXXX% sure that thered be no activity on the account. I had been sent on my way after making the request, and told to return after I was sure.)
I then explained to her that I dont need the branch manager, and once again told her that the problem has less to do with the branch, and she understood, and explained everything to a different manager, and promised that Id get a call back in under an hour.
Not surprisingly, nobody called. XXXX hours and still no resolution!!

-I called back XXXX hours later, asked for a manager. XXXX said thered be a XXXX minute hold. XXXX minutes later, returned to ask my business name. I told him that I am going to call the XXXX if I dont get a manager. He put me on another XXXX minute hold, which lasted XXXX minutes He said there were no managers available, and no notes about the previous conversation. He put me back on hold for a few more minutes, who actually lasted XXXX minutes. He came back on the phone to tell me that nobody can help. I told him Im going to call the XXXX XXXX XXXX He said OK, and apologized for the inconvenience.


-Found out just now that XXXX is still connected to my closed account, even though it was never able to be used with my Webster account. A $XXXX payment was made to me XXXX days ago that is now stuck in limbo. I have no way to access that money, and the sender cant get it back.
The only reason that I ever connected XXXX to my account in the first place was because the telephone agent told me to do it, and now Im in an even deeper mess!

Received the check from Webster. Deposited it into XXXX XXXX XXXX XXXX

-just received an email from WebsterBank stating that I requested to cancel the XXXX payment from my contact.

-just received an email from XXXX XXXX XXXX stating that the XXXX payment request that I had sent to my contact had expired, (because WebsterBank blocked it).

-XXXX hours of wasted time. Still no resolution, and because Webster has not taken sufficient notes, I have to start fresh every time I call.

-FDIC XXXX
-Federal Reserve
XXXX XXXX XXXX

-im going to reach out to XXXX at the local branch, and if she cant escalate this immediately, Im contacting the above.

-Officially XXXX hours now, and no prospect of help. XXXX Called XXXX at the local branch and told her everything. She is putting in a request on my behalf for a callback from corporate. She said to wait a day or two for a response. If I dont get a response, I am escalating it myselfXXXX XXXX I just received an email from somebody who direct deposits into my closed account, but of course I wasnt able to notify them that the account had closed, because I no longer had access to the account, so now I dont have my direct deposit until I reroute it to my other bank. I normally get that money on the first day of every month, and now Im gonna have to wait. I pay my XXXX XXXX bill on the XXXX of every month, and now Im not going to be able to do that until that check is sent to my XXXX XXXX XXXX account, and cleared. I will have to pay a fee to XXXX XXXX for this.

XXXX
Still no response.
Unreal. XXXX
transferred XXXX from my Webster business account into XXXX XXXX XXXX, yesterday and theres still no sign of it on the other end. XXXX
I had to get a XXXX XXXX XXXX agent on the phone to help me track down my money so I can transfer it. At one point, they said I needed to call WebsterBank, and I resisted, because I already know its a bad idea. XXXX XXXX XXXX got to the bottom of the problem and I was able to transfer more money. It took almost an hour. So now Im XXXX hours in. XXXX
Called branch to ask for higher up manager. Was put on hold for XXXX minutes. Had to hang up. Naturally, they didnt bother calling me backXXXX XXXX XXXX XXXX Called branch again. XXXX said I cant be connected with a supervisor until I first speak with XXXX, who isnt available. He said shell call back right after her phone meeting.

I have managed to transfer most of my money into XXXX XXXX XXXX at this point, but because of the debacle with XXXX, I had not been able to receive funds from my XXXX sources, and therefore had to use XXXX XXXX. Of course, apple doesnt allow transfers, so now my XXXX XXXX XXXX account is overdrawn.

Additionally, the monthly direct deposit that used to occur in my Webster account was postponed because I had to reroute the money into the new bank, and that money is not available to me yet because of this whole mess, so that created the snowball of overdrafts.

I had to call my investment advisor to make an emergency $XXXX payment to my bank account to prevent more overdrafts.

Not surprisingly, XXXX didnt return my call today.

Also, the check that they sent (against my wishes) still hasnt arrived. XXXX XXXX XXXX
Called XXXX number again, told them that Im a step away from reporting the issue to the state department of banking. Told her that the branch manager does not return calls.
Call was dropped after XXXX minutes. No resolution.
*XXXX hours in nowXXXX XXXX XXXX
Called back. Asked XXXX to reconnect me with XXXX. Put on hold for XXXX minutes. Finally got XXXX back. She transferred me to another hold, which then led to a dead end. Left message, and didnt get a call back. XXXX
Spoke with XXXX, and asked to be reconnected with XXXX.
After sitting on hold for only XXXX minutes, was told that XXXX isnt available. I told XXXX that if Im not transferred to a manager, I will report the bank. Was placed on hold for XXXX minutes. Was told that there were no managers available, but that i would get a call back at no particular time. I told her that I will wait XXXX minutes, and then I will give up and begin reporting the bank.

*XXXX hours in, and no longer dealing with the bank. Reporting to department of banking

In XXXX of 2023 I purchased an item from XXXX XXXX using my Webster bank card in the amount of {$590.00}. The item arrived not as described and box was damaged on XXXX side. I tried to contact the company who was going to charge a restocking fee so I disputed the purchase with Webster Bank. I continually contacted Webster and was recently told they found in favor of the seller and I was not provided any reason as to why.

No narrative provided by consumer.

I am writing to add to feedback to complaint # XXXX. I have consistently communicated with this company ( webster bank ) about the financial struggles I was having to bring this account current and had been consistent monthly payments for several months at the time their decision to offset my checking account, I also made it known to them that I would make extra payments, when possible, to catch up. They knew I was struggling financially and still proceeded to execute an offset amount that completed depleted my account and left me with a - {$450.00} balance in my account and left me struggling to meet all aspects of my basic needs. In their response, they said they were sorry for any inconvenience their actions have caused, but I feel this was just a gesture to pacify a greater, disturbing problem. If they were truly sorry, I think they would have considered the fact that had been making consistent monthly payment at the time of their actions and trying to catch up, and to make a better decision about the amount they took from my account to offset ( {$1000.00} ).

No narrative provided by consumer.

No narrative provided by consumer.

On XX/XX/year>, upon successful verification, I created account with XXXX XXXX ( affiliated with Webster Bank ). I initiated a transfer of {$10000.00} from XXXX Account to XXXX with ACH. Upon learning from several online sources/reviews of scam like and fraudulent tactics by XXXX in the past ( consumers unable to access statements, able to deposit but not withdraw money in accounts, past privacy breaches, ongoing litigation with Webster bank , etc. ) immediately reached out to XXXX to ask the transaction in progress be halted and money returned to XXXX account. XXXX deceptively claimed that they couldn't do this and doing so XXXX result in up to a month to release funds to XXXX. Trusting the representative to wait a few days, I received confirmation initial funds transfer request from XXXX to XXXX was completed XX/XX/XXXX. I initiated an external transfer out from XXXX account after and received a funds transfer request confirmation, on XX/XX/XXXX. XX/XX/XXXX, I received a notification with no explanation other than that external transfer was denied due to 'insufficient funds ' despite {$100000.00} displaying in XXXX account. Additionally, received a letter in the mail on XX/XX/XXXX displaying a negative {$35.00} in the account and a hold on the account. All throughout these events, reached out numerous times to Webster BankXXXX for assistance and received different information from staff and managers ranging from explanations of new account, extended ACH transfer times, insufficient funds, and requests to wait longer and try the external transfer again. On XX/XX/XXXX, after speaking with XXXX claims department, submitted information asking to investigate and retrieve {$10000.00} that XXXX won't release. XXXX has taken up the claim and investigation is underway, trying to reclaim the funds. WebsterXXXX in response froze my account ( suspended ability for external transfers, no effect on internal ) on XX/XX/XXXX.

No narrative provided by consumer.

No narrative provided by consumer.

I have been trying to close my CD with Webster BankXXXX XXXX for about 7 days, within the stipulated time upon maturity, and I am being given a run around. The customer service reps XXXX in my first call on one call XX/XX/year>, asked me for the last 4 of my SSN, address on file and my account number. I gave him the info and the last 4 of my account number, to which he wanted to get a full account number. I asked him to help me locate it since on the onlne banking only the last 4 are visible. He didn't help, when I asked to be speak to his supervisor, he hung up on me saying that I was being aggressive. I looked up the website and upon figuring our my account number, called again. This time, a lady CSR, " XXXX '' verified me, although this time she stated she was able to verify me with just the last 4 of my CD #. However, without stating a reason, she said she wont be able to help me close my account and asked me send request via their website 's " Secure messaging '' - which I did. After 3 days, I received a response to my " secure messaging '' account, asking me to contact customer service on phone again.
Still CD funds are held. I opened up a complaint ( # XXXX ) with FDIC, and they referred me to CPFB. There seems to be several consumers affected by this bank at ( attached file ) : XXXX XXXX XXXX XXXX XXXX Please help. I think the bank advertises attractive rates on websites like XXXX, and then dodges the consumers to be able to close their CD, and holds on to the money as long as possible

I have a CD which matured on XX/XX/year>. Several weeks prior to that I sent a secure email to the bank through their system requesting that the CD NOT be rolled over, but the funds be transferred to a savings account I had with them. The day after the CD matured, the funds were not in my savings account and the CD had been rolled over for another year.
I called their customer service and spoke to them about it. I was assured that the funds would be released to me, and the delay was because they were " very busy ''.
It is now a week later and the funds have not been released, and they are being held in a CD that matures in a year, against my specific instructions to them and withing their " grace period ''

I PURCHASED A 12 MONTH CD ON XX/XX/XXXX FROM THE XXXX XXXX APP WHICH IS ASSOCIATED WITH WEBSTER BANK IN NEW YORK..I WAS TOLD I HAD A 10 DAY GRACE PERIOD TO DECIDE AFTER THE 12 MONTHS,.. I WANTED TO CLOSE IT OUT ON XX/XX/XXXX. XX/XX/XXXX WAS A SATURDAY AND THEY WERE CLOSED. I CALLED ON MONDAY, XX/XX/XXXX AND TOLD THEM I WANTED TO CLOSE OUT MY CD. THE REP TOLD ME TO CHECK MY APP AND WAIT FOR A MESSAGE FROM XXXX XXXX. I WAITED UNTIL XX/XX/XXXX AND RECEIVED NO MESSAGE FROM THE BANK, I CALLED ON XX/XX/XXXX XXXX XXXX AGAIN AND I WAS TOLD I NEED TO GO TO XXXX, XXXX TO " ACCEPT '' TO GET MY MONEY. I HAD NO IDEA THERE WAS A XXXX. I WENT TO THE WEBSITE, WHILE THE REP WAS ON THE PHONE AND TYPED IN " ACCEPT ''. THE REP TOLD ME MY REQUEST WENT THROUGH AND I SHOULD GET THE MONEY IN 3 DAYS, AND THE MONEY WILL BE IN MY CHECKING ACCOUNT. I WAITED UNTIL XX/XX/XXXX AND WAS THEN TOLD TO WAIT 3 DAYS AND THE MONEY WOULD BE IN THE BANK. I HAVE BEEN GETTING THE RUNAROUND SINCE I WANTED TO CLOSE THE ACCOUNT, I WAITED UNTIL XX/XX/XXXX AND THE REPRESENTATIVE TOLD ME THAT I WILL GET THE MONEY BY XX/XX/XXXX, IN THE MEANTIME MY ACCOUNT SHOWS I AM RENEWING MY CD. WHICH I AM NOT. AFTER READING THE ONLINE REVIEWS ON XXXX XXXX, MANY PEOPLE ARE HAVING THE SAME PROBLEM. I NEED THIS MONEY TO PAY MY BILLS. THE XXXX XXXX PHONE NUMBER IS XXXX. I REALLY APPRECIATE ANYTHING YOU CAN DO TO RESOLVE THIS ISSUE.

No narrative provided by consumer.

I deposited {$250000.00} with Webster Bank ( XXXX ) XXXX year ago. My XXXX year XXXX matured and I requested the funds be returned to me. They said OK but it has now been over XXXX weeks and they have not returned my funds. I emailed XXXX times through their client portal and I have called XXXX times. On the phone calls, they have told me the same thing each time -- wait a few days. The response to my email was " we are having trouble with XXXX transfers ''. They tell me not to worry because I am getting interest but I need my funds.

Webster Bank Subject : Unauthorized ATM Withdrawals and Unsatisfactory Resolution I am writing to formally express my concern and dissatisfaction regarding unauthorized ATM withdrawals from my account that have occurred throughout XXXX XXXX over the entire year of XXXX up until XX/XX/XXXX. Despite my efforts to resolve this issue, the response from Webster bank has been profoundly disappointing.

On XX/XX/XXXX ], while attempting to make a payment on my cell phone bill, my transaction was declined due to insufficient funds. This prompted me to review my account activity, where I discovered that numerous unauthorized withdrawals had been made from ATMs in XXXX XXXX. At the exact time my payment was declined, another withdrawal was processed, further depleting my funds.

I want to make it unequivocally clear that I did not approve or have any knowledge of these transactions. It is evident that an unknown individual has been fraudulently accessing my account. Despite this, when I contacted Webster customer service department, I was met with a dismissive response, essentially being told " tough luck. '' This level of service is unacceptable. As a customer, I expect my bank to safeguard my assets and take swift, effective action when fraud is detected. Instead, I have been left vulnerable and without recourse. I am requesting an immediate and thorough investigation into these unauthorized withdrawals. Additionally, I expect a full reimbursement of the stolen funds and a review of Websters security measures to prevent such breaches in the future.

I trust that Webster Bank will address this matter with the seriousness it deserves and provide a resolution that reflects your commitment to customer security and satisfaction. Failure to adequately resolve this issue will leave me no choice but to escalate my complaint to the relevant regulatory bodies and consider legal action.

Please acknowledge receipt of this letter and provide a response outlining the steps that will be taken to rectify this situation.

Sincerely,