Colonial Bank Complaints & Reviews

Colonial BankOverdraft Charges

Avoid this bank like the plague, their customer service is terrible and their banking practices are unethical. And I'm being kind. Their policy is to apply debits before credits. So no matter that you deposit money in plenty of time to cover any withdrawals, that night they run the debits first (even though they can clearly see the deposit and admit to seeing it), slam you with overdraft fees, then run the deposit through. Wachovia and the other banks we used over the years never did that.

I strongly advise not using this bank.

  • Ri
    Ricahrd Seaton Aug 09, 2009

    Re: Colonial Bank Bogus Charges for Overdraft Fees and Manipulating of Dates and Time for Deposits.

    We have found that our funds in our checking account at Colonial Bank in Fort Myers is not safe. Colonial Bank manipulates the dates and times of our deposits including electronis deposits to allow them to charge us overdraft fees while funds are availble in our acount. We have print outs of their own web site that shows positve balances in our acount while showing overdraft fees on the same print out. Colonial Bank does not honor the balances shown on their own web site.

    The days of banks mailing checks back and forth has passed. We know that electronic deposits makes funds availble the instant the deposit is first generated. We also know that the routing numbers on checks, check numbers and amounts on the checks are typed in on the banks computer therefore creating an electronic deposit from the bank the check was written on into our acounts. There is no need for banks to hold checks in this day and time of electronics.

    We encourage all of you with complaints over the illegal actions of Colonial Bank to file your complaints with the FDIC, your state banking commision and your local news media. Your complaints will save your neighbors from haveing their funds illealy removed frpm their accounts by Colonial Bank. It is clear to me why the FDIC is investigating Colonial Bank for their lending practices.

    0 Votes
  • Ha
    harland Aug 27, 2009

    Colonial has done the same thing to me on many occasions. This is the worst bank I have ever dealt with, they've put me and my family through so much hardship with their many tripwire tactics which I am just too exhausted with to even explain. There is no part of this company that believes in valuing the customer, it is set up to make the bulk of it's money off OD fees. I strongly recommend that everyone stay away from this bank and warn your family and friends to stay away as well.

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Colonial BankScam charges

I have been a customer of Colonial Bank for 5 years, and in that 5 year time period Colonial Bank has made countless mistakes. It started two years ago when I made a deposit in the ATM machine for $1500.00 on a Saturday which meant in Business Days (Monday). When I checked my online banking it wasn't there, I then called my local branch and asked for the Manager. The manager asked me if I kept my receipt and if so to bring it up to her and the matter would be taken care of. When I arrived I was made to wait for 2 hours to only be told that there was no deposit located for that amount nor did it print a receipt for the bank. Even though I had my receipt that said I had made the deposit. She then insisted I deposited an empty envelope. When I demanded her to look again she threatened to shut my account down and call the police. I left the bank and made a stop at a local convince store for gas and the man asked for my card and proceeded to explain it had been reported stolen! He knew me from coming in on a regular basis handed my card back and I went back to the bank to resolve the issue, for the manager to once again scream at me, verbally abuse me, and then tell me she could not turn my card back on, I'd have to order a new one and wait seven days! I then tracked down the Regional Manager for answers, it wasn't two days later and my deposit was found! No apology! A year after that I went to my local branch to purchase a Cashier's Check I was asked to make my check out to Colonial Bank for the amount of the cashier's check... some how the check I wrote to the bank was put through twice which caused a negative balance of more than $6000.00 all from a mistake that they made. They didn't even contact me I caught the problem and brought it to there attention... again no apology, but they did refund all the fees. On another occasion I made a deposit through the ATM once again and they didn't pull it on time which caused me to have three NSF Fees. They once again treated me as if I was at fault and I had to fight tooth and nail to get all fees returned. Last but certainly not least I recently was charged two $33.00 NSF Fees when my account still had a positive balance! When I approached the manager for an explanation I was told that it wasn't a priority and she would look into it. I then called the Colonial Bank Customer Service line and asked for a time stamped document and was hung up on. I called back and was told there was nothing they could do for me that I needed to take the matter up with the Branch Manager! At this point the Branch Manager just wants me out and will do ANYTHING to manipulate the situation. I again track down the Regional Manager for answers to only be told that in 10 days my account will be closed. So I contacted her boss and explained that you can't bounce when money is there and the money that was there carried into my balance the next day and is still there... So please explain how I incurred these charges, he had no answer for me and stated that he would investigate it. It has been a week and nothing yet I call everyday and get no answer as to why they took $66.00. While all of this was transpiring I tried to cash a check drawn off of a local account, I had said money in the bank to cover the check. Only to be told that under the circumstances they couldn't cash it even though nothing was pending in the account. I was asked to come in since we were in the teller line, I did only to walk in on the Branch Manager and another employee speaking badly about me. When I asked why the check couldn't be cashed even though the funds were there she stated that Colonial Bank assumes that it's going to bounce. When I asked for that statement in writing she explained it would be hard to put that in writing. I was so angry, I once again called the Regional Manager to please explain how this behavior is acceptable and When is this Manager going to be held accountable for her mistakes and profiling . I have never been treated with so much disrespect . I have changed banks since and do not recommend anyone to Colonial Bank.

  • Sa
    Sarah Apr 16, 2009

    I have been a customer of Colonial Bank for 5 years, and in that 5 year time period Colonial Bank has made countless mistakes. It started two years ago when I made a deposit in the ATM machine for $1500.00 on a Saturday which meant in Business Days (Monday). When I checked my online banking it wasn't there, I then called my local branch and asked for the Manager. The manager asked me if I kept my receipt and if so to bring it up to her and the matter would be taken care of. When I arrived I was made to wait for 2 hours to only be told that there was no deposit located for that amount nor did it print a receipt for the bank. Even though I had my receipt that said I had made the deposit. She then insisted I deposited an empty envelope. When I demanded her to look again she threatened to shut my account down and call the police. I left the bank and made a stop at a local convince store for gas and the man asked for my card and proceeded to explain it had been reported stolen! He knew me from coming in on a regular basis handed my card back and I went back to the bank to resolve the issue, for the manager to once again scream at me, verbally abuse me, and then tell me she could not turn my card back on, I'd have to order a new one and wait seven days! I then tracked down the Regional Manager for answers, it wasn't two days later and my deposit was found! No apology!

    A year after that I went to my local branch to purchase a Cashier's Check I was asked to make my check out to Colonial Bank for the amount of the cashier's check... some how the check I wrote to the bank was put through twice which caused a negative balance of more than $6000.00 all from a mistake that they made. They didn't even contact me I caught the problem and brought it to there attention... again no apology, but they did refund all the fees.

    On another occasion I made a deposit through the ATM once again and they didn't pull it on time which caused me to have three NSF Fees. They once again treated me as if I was at fault and I had to fight tooth and nail to get all fees returned.

    Last but certainly not least I recently was charged two $33.00 NSF Fees when my account still had a positive balance! When I approached the manager for an explanation I was told that it wasn't a priority and she would look into it. I then called the Colonial Bank Customer Service line and asked for a time stamped document and was hung up on. I called back and was told there was nothing they could do for me that I needed to take the matter up with the Branch Manager! At this point the Branch Manager just wants me out and will do ANYTHING to manipulate the situation. I again track down the Regional Manager for answers to only be told that in 10 days my account will be closed. So I contacted her boss and explained that you can't bounce when money is there and the money that was there carried into my balance the next day and is still there... So please explain how I incurred these charges, he had no answer for me and stated that he would investigate it. It has been a week and nothing yet I call everyday and get no answer as to why they took $66.00.

    While all of this was transpiring I tried to cash a check drawn off of a local account, I had said money in the bank to cover the check. Only to be told that under the circumstances they couldn't cash it even though nothing was pending in the account. I was asked to come in since we were in the teller line, I did only to walk in on the Branch Manager and another employee speaking badly about me. When I asked why the check couldn't be cashed even though the funds were there she stated that Colonial Bank assumes that it's going to bounce. When I asked for that statement in writing she explained it would be hard to put that in writing. I was so angry, I once again called the Regional Manager to please explain how this behavior is acceptable and When is this Manager going to be held accountable for her mistakes and profiling. I have never been treated with so much disrespect. I have changed banks since and do not recommend anyone to Colonial Bank.

    0 Votes
  • Fl
    FLDC Apr 30, 2009

    I'm in somewhat of the same boat. I made 2 deposits on different days. Colonial bank decided to put a "hold" on 2 of the checks, one from each deposit. They did not notify me of these holds. After paying my light bill and auto insurance my account goes into a negative and I get assets over $430.00 in bank fees. After I approach the branch they return to me and say there is nothing they can do. The hold was on these checks for almost 10 business days. None of them bounced and one of them has been a customer of mine for about 1 year. I deposit a check from them on a weekly basis.

    My question is what is there to protect us from the banks in these situations.

    0 Votes

Colonial BankScam and abuse!

Colonial Bank is a dud! I have had accounts with this bank for many years and have always had problems with them. Lately, this has been getting worse. I electronically transfer funds from a bank in another country with no problems, but as soon as I deposit a check the trouble starts. They usually hold the checks for 5 to 8 days, but now they are holding a check for 15 days! I received a letter today telling me that they cannot verify the check with the paying bank and that there is reasonable cause to doubt collectability.

I wrote the check that I deposited on my account with Met Life. This is a large insurance company and I have been writing checks, and depositing them in a Colonial Bank, for the past year. The money is from the life insurance of my dead husband. I have had holds put on these deposits every time I put one into Colonial, they don't seem to know that Met Life is a very large company, not something I dreamed up to put on home-made checks!!!

Now, I put in a check for $8,794.25, which is all that remained in the Met Life account. I need the money, now, to pay my bills. I have heard from people who are supposed to know, that a bank likes to hold the money as long as possible so that they, not you, get interest on it. I don't know if this is true, but the banks do like to make their money, as much as possible. The days of their giving away toasters, etc. when you open an account are long gone. Nowadays, we are made to feel that we are damned lucky that they will even open an account for us!!

I called the customer service number and a woman there, who had no idea about the bank policies, checked on my problem and told me that the money would be available on the 12th of February, 2008, which is a 15 day hold. She had no idea why the hold was so long, or why there was a hold, and couldn't have cared less. By her tone of voice, the customer service rep. seemed to think I was an idiot and a nuisance and that I should be happy that I would be getting my money at all. I bet if it was her money she would be throwing a bit fit!!!

I tried to leave a message at the Colonial Bank on North Tennessee Avenue in Lakeland, Fl., where I deposited the check, but the bank doesn't accept messages! They have probably got so many messages from annoyed customers that they no longer have an answering machine.

I must say one thing in defense of Colonial Bank, they do have one good branch. It is in Apollo Beach, Fl. and the people there who have been very helpful to me over other checks that have been held for days and days are Mary Ann and the Mgr., Bonnie. But this is the only good Colonial Bank I have run into and I have gone to several of them.

Since one bank can do a good job, why can't the others? Is it poor management? My husband, who was retired Air Force, always said that doo-doo runs downhill, and he was right.

So, my advice is to avoid the Colonial Bank, at least until it modernizes it's banking practices and comes out of the horse and buggy era!

  • Ha
    harold edelstein Sep 03, 2008
    This comment was posted by
    a verified customer
    Verified customer

    It definitely is a badly managed bank and their florida constituency particularly their brickell branch staff, manager as well as his assistant are both unprofessional, have poor manners lack common courtesy are unaccomodating and rude, not to mention biased. I have since closed all my accounts and will never do business with this bank again.

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  • Th
    Therapy Dog Mom Mar 28, 2009

    Banked w/them since they were Union Bank in our area, and always found staff to be unprofessional, management to be lame, drive-thru to be neglected and slow.

    0 Votes
  • Be
    beth Mar 30, 2009

    Colonial Bank does not adhere by any ethics, values or integrity! I received a mortgage for my "dream house" a year ago by the previous owners Citrus and Chemical in Winter Haven Florida. At that time the only mortgages available due to the Mortgage Meltdown was a one year balloon. I put a down payment of 10, 000 and after paying all my payments up till the balloon and was told for six months that they were working on my extension, they are foreclosing on me. I am a single women, self employed and started a business last year which creates an issue with refinancing. I was never told I was going to have to re-qualify only one year later. I am totally heartbroken to loose my home. I feel beaten up by Colonial. I continue to ask them for a mortgage and I will pay them, but they do not listen. What's the point in trying, working hard, saving for a down payment, to only have them pull the rug out from under me. They lead me down a path for 6 months - Now what am I to do. To late to get investors or another bank to refi as I was dealing with local VP not corporate who lead me astray. Why would they want to foreclose and loose money over granting me a year extension on my loan. Complete Smucks!!

    0 Votes
  • Do
    Doyle Apr 17, 2009

    Colonial Bank is a rip off. They are quick to add service charges even though they hold checks and don't post them fast enough, then they hit you with massive charges. Just a few dollars over can cost you over $100.

    0 Votes
  • La
    Lawrence Apr 26, 2009

    Colonial Bank is just a complete mess. Unethical, bunch of non-professionals. Their services are just too poor. I have had issues on checks and it took them almost 1 century for it to reflect in my account and when it finally reflected, they came up with some hidden charges which even their manager could not even give an explanation about it.
    Lawrence...

    0 Votes
  • Ka
    Katie B. May 11, 2009

    I hate Colonial Bank. I have an account on their website for "online banking" and I checked it the other day to see how much money was available. It said over $300. So I went to the atm to withdraw $200 to pay a bill. Today I went to the bank and they said I OWED them over $100. They said I was overdrawn and my checking account was negative. I hate this bank. I have had so many problems with them. The staff has been so rude and they even closed my checking account once before for no reason without telling me. I don't even want a bank account anymore. I'll be better off keeping my money in a shoebox or something.

    0 Votes
  • Mr
    Mr.N May 12, 2009

    Colonial bank is very unprofessional and an unprofessional noncoherent staff.Whatever you do please do not bank with them, they have poor record keeping and the vice president Ms.Kaye is the the worse in Tuscaloosa, Alabama, she's never in the office and her staff does one thing and she claims she doesnt know anything, very poorly managed.she should be ashamed of herself and demoted, Im not going to explain the situation, but its the worse bank I have ever dealt with in my life.No wonder people dont like to deal with banks this one is a prime example.

    0 Votes
  • Jo
    joe May 25, 2009

    worst bank ever, no integrity, honesty or ethics. make up fees and charges out of thin air.

    0 Votes
  • Om
    Omnius1 Jun 28, 2009

    I hate colonial bank.. Have used them for over 2 years and always trouble somewhere. I have had some overdrawn checks come through sometimes. I know, but at least every single time they do I know when they are going to happen and why, it is hard to make ends meet in a small country town. That does not by any means make me an idiot though. I have even called the bank to let them know and that I would gladly pay the overdraft fee, which is the highest I know of btw.
    After four times of this happening, I have gotten screwed all four times; I have other checks out, or bills coming in at the time the check that will bounce (and I am aware of it), and they will cash the largest item first, no matter what it is, and have numerous overdraft charges instead of the one check; even if the check is the last thing to come in, they will hold over items, I have proved this to them. I have complained to the office, wrote the president, talked with the branch manager and all to no help. They act like I'm an idiot, when it is plainly on paper that they are holding charges for days just to add them to the list of debts that can be made into overdrafts so they can make more money. A complete and obvious scam. I mean, when you have a list in your online bank statement, and there are four or so overdraft charges and they are listed, regardless of dates, in perfect numerical order from largest being taken out first to the smallest which would have cleared, them something is wrong. I hate this bank and am currently trying to close my account, which they act like I can't do. How stupid is that. Be warned, If your smart enough to research a bank and find this site, then know you don't want Colonial bank, they are terrible in all areas.

    0 Votes

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