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Sovereign Bank / completey unnecessary mortgage fees

1 United States

This month I used Sovereign Banks online phone service to make a mortgage payment (which they charge $10 for) to make sure my payment would arrive on time. I called on 4 separate occasions to verify payment was received so I wouldn't be late on my mortgage payment. I received confirmation that the payment went through every time I spoke with a rep and was assured my mortgage would not be marked as late.

After 2 weeks the money still did not clear from my account. I called them again (5th time I believe) and was told not to worry they received payment. On 3/3 I received a notice in the mail stating my mortgage was late and I would be charged $54 in late fees. I immediately called them and they informed me my online payment did not go through. The response was simply "Your bank was unable to locate account and it is your fault not ours". I over-nighted them a check just to get the payment posted.

Instead of informing me there was a problem they decided to wait so they could assess fees. Had they notified me there were any problems I would have marched right down to a local branch and paid cash. To add further insult to injury on 3/6 I received a notice stating that my payment did not go through and I would be assessed an additional $30 "handling fee".

In summary, I made a payment. For some reason payment did not go through, despite being repeatably assured it did. Now I'm being charged over $80 and going to have a late mortgage on my credit report. I know for a fact it doesn't take 14 days for electronic transfers to go through. They should have notified me the second there was an issue and allowed me to resolve rather than nickel and dime me and lower my credit rating.


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