rbfcu.org

Disappointment

My name is Silvino Pires, I’ve been a member of RBFCU for more than 10 years, and I currently have 4 accounts at this bank. I USUALLY keep a MINIMUM balance of $10k among my accounts. I also have a master credit card from this bank and a personal line of credit. I also move over $330k a year thru my business.Well, I want to say that my rates with either the credit card and credit line are the worst possible going from 11% and up.I’ve tried loans with RBFCU and have been declined a few times. When I was approved, the rate was a rip off.Some of these loans have been approved by other institutions such as Capital One, Ally, GM Financial, and Credit Human for a much lower rate than my own bank.A couple of times RBFCU have put me in very inconvenient and embarrassing situations.This time was the worst: a former partner, which I had a joint account in this bank in the past, made a transfer of $7k to my account (same bank transfer) on Saturday April 20th, and the RBFCU put a hold on the money for a few days.On April 22nd I realized they also froze all my accounts and cards that I and my employees use to run my business. I had to stop all operations because my employees had no way to run without the money.I went to the branch and I also called the fraud department unsuccessfully because there was nothing they could do about it. They told me that my friend who made the transfer had to call in and release the deposit he made.This took him another extra couple of hours on hold (terrible and inefficient fraude department service).Most of my business day was compromised.Finally after my ex-partner talked to them they released my accounts but guess what? They pulled the money ($7000) back to my friends account. This morning I called my friend, and told him I didn’t get the money. He transferred the money again to my account, and the bank put another hold on my money.For me, This seems like a joke. They must be playing a game with me. I find it extremely ridiculous to put a hold on a legit transaction between two members in the same bank, and freezing all my account and cards is way out of boundaries.There’s no reasonable explanation for a bank to do that. It’s irresponsible, offensive, insulting, financially harmful, and injurious.I have called the bank fraud department today, and requested that the person in charge calls me and give me an explanation of how The bank is protecting me freezing all my accounts. Explain to me what freezing all my accounts and cards, have to do with a “suspicious“ deposit.I’ll definitely post here their reasonable response if It’s a reasonable one.

Date of experience: Apr 22, 2024