Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Local ties: When you make payments to a nearby bank, there is a good chance it will take that money and lend it to other individuals and businesses in the area. Call the number that you get from public sources and call and ask for Barb. They call one of the big guys who advertise on TV. Since she called me, I asked, “Uhhh, can I call you back please? That is really just good customer service. If you're worried it's shady, go to the bank in-person and have a sit down. Here are a few steps to take if this kind of thing should happen to you: Forewarned is forearmed! Again this is Barb from (my bank) and my number is (phone number). The client was skeptical and came into the bank. Do not give information on the phone. Join our community, read the PF Wiki, and get on top of your finances! At the end of November, Bank of America sent me an email demanding I tell them my occupation and source of income, and if I didn’t respond they might freeze or close my account. Looks like you're using new Reddit on an old browser. They want you to (1) refinance your mortgage with them, (2) open a HELOC, or (3) invest in one of those dog shit American Funds products that boots them huge fees / commissions. Yay. The bank teller lets me take $200 out of my account and sends me on my way. When I explained how my old account was closed, I was told the bank would be hesitant to approve me without proof that my previous account wasn’t closed for fraud or outstanding debt. They just like to check in and will offer my deals that I just can't get online. Initially it surprised me that the credit union could conduct business over the phone in a way that wouldn't even be remotely acceptable through e-mail. Press question mark to learn the rest of the keyboard shortcuts. Great advice. When you deposit money or buy a CD at a community bank or credit union typically a much larger percent of your dollars is reinvested back into the local economy in the form of small business loans, bank employee wages, and bank vendor purchases with other locally owned businesses. Typically, I’m not asking them for account information, but I would NOT be offended if they asked to call me back for security reasons. I called the phone number on the letters, but only an answering machine says "this is the closure department and this was done for … Bank Complaint Process: Federal Reserve System If you have complaints or problems with a bank (or other financial institution), you may report a bank complaint or problem to the Federal Reserve System or the appropriate regulator of your banking institution. I know that people are here are likely to be negative about it, but there is nothing wrong with the bank(a business) calling to see if it can get more business and/or see how happy you are. Why yes, I DID save some money on my auto insurance! Last month I deposited a check that was a little out of my normal banking practice. He asks me to call back or When you choose a bank, it’s critical to find the products, services, and rates that meet your needs. Typically, I’m not asking them for account information, but I would NOT be offended if they asked to call me back for security reasons. While I was waiting for my check to come, I applied for a checking account at a small local bank. The message may ask you to click on a … For a typical US bank with 1,000 branches, the savings could … In this case someone else should have contacted you. Bank's usually call when you have overdrawn your account. People who can spot a phishing e-mail a mile away might get taken in by a plausible-sounding phone call. NO ONE has asked if they could call me back. Okay, this happened to me yesterday. Unsubscribe at any time. I completely understand. Identity theft is rampant and we need to be very aware of who we speak with and how we handle certain situations. I work for a bank and place roughly 10-20 calls to customers every day for various reasons. Why cant all banks be like this. That is really just good customer service. Thank goodness for things like an emergency fund, so the lack of the cash doesn't hurt, but still a major nuisance. Banks and credit unions verify their customers thoroughly before conducting business. NO ONE has asked if they could call me back. Sign up to receive blog updates, actionable tips, and more right to your email inbox, right now! My guess is she is offering a CC or something. I can't seem to get anything online (not even a small CLI), but it seems that every time they call me, I end up with something good (0% APR card, LOC, etc). I work for a bank and place roughly 10-20 calls to customers every day for various reasons. And she called 10 minutes before the branch closes...weird to me. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. It very well could be a scam/phishing attempt to … Banking locally is a simple yet powerful way to support your community. First Direct are brilliant, phone their number, no pushing this button then next only to be put on hold, straight through to a nice jolly person. Smaller banks … He went ahead and put a fraud alert on my account to be safe and told me he would hang tight and see what happens before calling and to not give any information over the phone if I do call. (No junk, ever.). You are impossible to work with. I hung up, looked up the number on the credit union's website, saw that it matched what she gave me, called her back, and finished the transaction. They call a local lender. I called them to correct a few things on my account and once I had my issues taken care of I thought that would be it. Go to the bank in person. 2. 3. I had a horrible experience with the banks calling me. Call the bank with the number on the website not the one given on the phone or as you said go in person. (No junk ever, and unsubscribe at any time!). Community banks are the safest, soundest and most secure financial institutions in our nation. Have a great evening.". Clarabridge, an American software company, surveyed 2,400 consumers (with ages ranging from 18 to 50) in the United States about their bank experiences and found out that 67 percent of bank customers placed a customer service call to their bank. 800 number is extremely BAD customer service. While we can’t speak for every community bank, Bank of Louisiana makes it a priority to give back to the area. I'd call back and see but don't give any personal information. Why Community Banks? A couple of days later I come back to take another $100 out of my account and I … I think this is a great suggestion! She started off by talking about my wire transfer, but aside from knowing her personally — I didn't — how was I to know otherwise that she worked for who she said she worked for? it’s Millennials who call their bank more often, on an average of 1.4 times in a three-month period, almost three times the 0.5 rates of older customers! The reason I am asking is because I got a weird phone call and voicemail on my phone. Although my call is not urgent in nature, it is important to that you give me call back at your earliest convenience. They quit or were fired. 1. You can reach me at (phone number). Call her back and if it is a sales call say no thanks and hang up, That way no speculation necessary. The Bank of America sent me letters saying they are restricting my accounts in 20 days and closing them in 30 days. I know that people are here are likely to be negative about it, but there is nothing wrong with the bank (a business) calling to see if it can get more business and/or see how happy you are. Chase | Ultimate Rewards - Local Chase branch leaving voicemails, asking me to call back... - I've received two voicemails on this week from a local Chase branch. We detest spam as much as you do. They support community organizations. Don't be shy about verifying them. We don’t want personal information getting into the wrong hands! Lloyds: Lloyds has a “click to call” feature in its app which will authorise you to phone the bank, making the connection more secure so you are sure you are phoning the bank. Unsubscribe at any time. The message stated: "Hi (my name), this is Barb calling from (my bank) at the (city name) office. The Bank Policy Institute told WAVE 3 News scammers are now using sophisticated techniques, and that the spoofing is not specific to any one individual bank. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. I completely understand. "It's every day, at least once a day," Wolff, a picture framer, said. I try to handle all of my banking now in person and avoid the middle man. 2 weeks later, I getting calls from a different department from the bank that was soliciting services to me like they were a telemarketer! They are common sense lenders that follow responsible business practices; are risk averse; and work every day to support their customers, communities and local markets. I initiated a wire transfer today from an out-of-state credit union to my home credit union. If you haven’t made the switch to a local bank yet, here are just a few reasons why you may want to make the switch. Join our newsletter and receive actionable money-saving ideas, blog updates, and more, right to your inbox, right now! She was worried it was fake, but after I found the person who called her and we verified the transaction, the client left happy. In the past I ve been with Barclays and all the previous banks that became Santander. They call a local bank. It could be their mistake but usually it can be easily fixed. I had a client the other day who received a call from our fraud services (they left a message) and was asked to call them back by 4pm so they could approve a transaction. I received one of these calls Monday night from an odd number—253-638-27 out of Kent, Wash., according to my phone—and the automated recording told me that my United Community Bank … My credit card company seems to think I’m laundering money to finance terrorism. I want to verify who I'm speaking with.”  She agreed without any problem, and gave me her name again, her phone number, and her extension. The teller, who I had never met, told me that because the check was out of my routine, the funds would not be available for several days. If your credit union or bank is giving you the opportunity to refinance, weigh the options, crunch some numbers, and see whether or not it's worth your while. According to a study by Bain & Company. I happened to record the phone call of the "bank" calling me, so I'm sending the phone recordings to my *actual* bank. Somebody's beat me to it - switch to First Direct ! At the same time, 60% of Millennials reported calling a bank contact center at least once in the last three months, compared with 42% of Baby Boomers. So far so good. Because the amount of money was fairly significant, they called me up to verify a few things before they did the transfer. And honestly, it doesn't have all that much money in it. Favorite Answer. Make an appointment to come in if she says it is necessary. There are generally 5 reasons why a loan officer stops answering calls and emails: 1. Come to find out they had incorrectly overdrawn her account. Maybe they're bringing back free toasters if you open a CD. It wouldn't surprise me if they wanted to sell you something. As you evaluate large national banks vs. local banks and credit unions, you may wonder if the size of an institution matters.To some degree, it does, but big banks and small banks can offer essential services like checking and savings accounts. Not only as consumers, but employees too! (If you know when they can do this, let me know!) A … Meanwhile I have to wait 10 days to get the $1,000 back. "Last month, I actually got a letter on the 10th. The number checks out and the person who called left a number to call that was real, but I still felt uncomfortable and used my account login to securely chat with a customer service representative about it. . She made it sound important yet not important...haha...and I don't have a mortgage or anything except my checking/savings account with them. The reason for the call might have been to actually ask you about what you thought about the bank or service so then they could score the person that helped you as well as gauge how that specific branch is doing. I think this is a great suggestion! So what are lenders using as criteria today for mortgage qualification. Who wants to take time off work and drive to the bank when one 5 minute phone conversation with local bank could resolve the problem. US Bank calls me all the time. When business cannot be taken care of by computer or 800 number we need to be able to talk to our local bank. Most banks are now making automated calls to check transactions with customers Most High Street banks are now using automated calls to alert customers to … By offering the best rates, banks are able to keep their account holders' business, and ensure a positive experience to promote future business. 1) Banks do not make sales calls to non customers (they may send you mailers from time to time) 2) Why would she need to verify your identity if you were a customer? This is a little much." A sales/customer service call. My wife's bank did this and did not say why they were calling just said not important. They are dead. Banks taking this approach have been able to reduce branch and call center volumes by 20% in 12 months. Why Bank Local? Customer service outsourcing is one of the best decisions a bank can benefit a lot from.. What the numbers say. There 24 hours a day, brilliant. A service issue. We hate spam as much as you do! “As a general matter, it is important to remember that banks will never proactively call or email customers to request private account information or access codes,” the agency stated. Banks will NEVER call and ask for you to verify your personal and confidential information. This is an acceptable excuse. I almost told her, but stopped. After the woman gave her name and who she worked for, she asked for the passcode to my account to continue the transaction. I've worked at a bank and it seems to be the approach most businesses are following nowadays. 3) She asked you to call a 800 number and give your social - HUGE red flag . Community banks are woven into the fabric of every town, from big cities like New York to the smallest rural community. Both from the same guy who describes himself as a personal banker "calling with some information I would find helpful." 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