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Sovereign Bank / sovereign bank steals from high schooler, tries to ruin his life

1 MA, United States Review updated:

"I will pay them the 75$ that I overspent. I do have that money. I'm not some sort of irresponsible idiot. But sovereign bank charged me $264 and tried to hide it from me."

Here's a great story. Sovereign bank blames all of this on a skynet-like automated computer system *gasp!* that is responsible for billing clients, as seen in the complaint about the 7-year-old girl. I recently spent some money that I did not have. Meaning that my account balance went 75 below 0. I was not notified, but sovereign bank almost immediately billed me $264.

Due to some sort of a computer error on their part, I was not able to view my sovereign bank account online. I am only an 18 year old high schooler, but these conglomerate white-collar thugs are threatening to ruin my credit before I go to college. I want to send this message to my congressman. To the ceo of sovereign bank. Anyone! I am desperate here.

I had no problem keeping my cash in a safe at home. But my parents gave me this account as a gift. I did not realize that as soon as I transferred/spent funds out of my sovereign account, they could disproportionately, incessantly bill me.

Sovereign bank is holding my money hostage. I recently got a letter in the mail saying something along the lines of 'the following fees will be applied as of now.' with a list of new fees, charges, and taxes that all sovereign bank customers would now have to pay.

Come on. That is insane.

Ai
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Comments

  • Ai
      20th of May, 2009
    +1 Votes

    President Obama made a speech about why George Bush Jr's bank deregulation policies were a mess

  • Bl
      31st of May, 2009
    -1 Votes

    he also made one about personal responsibility. Did you hear that speech?

    This kid was irresponsible. Hopefully he learned a nice lesson in why it is important to keep track of your own finances.

  • Sa
      31st of May, 2009
    0 Votes

    Naw blahlbhal,

    Sovereign is immoral at best and illegal at worst and this is what should be considered PREDATORY lending. Many folks are living paycheck to paycheck. Even when you are up to date (as I am) they use creative bank accounting practices to rob your account. These guys are worse than those "friends" from Nigeria and the UK who just want to have us act as their agent here in the US. Only Sovereign already have our account info, we did not have to send it to them: They created them for us and then pilfer at will.

  • Ai
      31st of May, 2009
    +1 Votes

    blahbhal, you should go back and finish high school before using mom's computer to post comments online. Sovereign bank just canceled the $264 fees after I contacted the Better Business Bureau. The technical difficulty (security precaution error) that prevented me from viewing my balance was ENTIRELY their fault.

    Thank God this is over!

    Sovereign is horrible. Skank of America and [censored]ibank aren't much better. I'm switching to Citizen's.

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