It was ok until I tried to cancel my account, thats when they try to stick it to you. Here is my office complaint to the FDIC:
This bank has a very predatory account closure policy. Where most banks close accounts by closing them and then sending you a check for your remaining balance. The Bancorp Bank (Perkstreet Financial) tells their customer’s they most take all of the money out of their account accept for 0 to 4 dollars, and the 0-4 dollars is none refundable. At this point the account closing process begins that take 14 to 20 days, and any checks or bills received by the back will then over draw the account, accruing a 32 dollar fee.
This is predatory, they are setting up a situation on purpose where people closing their accounts are REQUIRED to lower their balance to almost zero, then keep their account open for 14-20 days so if anything hits the account the customer has to pay a $32 fee per incident. The manager I spoke to said this is to protect the customer so their bills will be paid, this argument does not hold water however because the institution does not (in my case) honor overdrafts, they reverse the transaction and charge the customer $32 “Return Withdrawal” Fee.
Anyway, obviously I got hit with an un-expected transaction - I thought I had cancelled a monthly transfer where my savings account withdrew $75. I have never had any problems before trying to cancel my account. I called and spoke to two different people and discussed this policy and situation with the manager. I asked if I could have the account locked, and or the fee reversed since it happened after I requested the account to be cancelled. They told me they could not lock my account, and they could only refund the $32 fee if I have the withdrawing institution to reverse the transfer.
Manager I Dealt with Paul Garcia
Customer service I dealt with Jason Sanchez