Warren Boynton State Bank

User Rating: 1 out of 5 stars

Our account at WB was opened for us, in tandem with our account with Patton Investments (dividends would go directly into the WB bank account). We never received any documentation regarding the rules of the account, nor did anyone ever ask us if we wanted it. We don't even live in IL.

I stopped using the account because businesses gave me a hard time about using the checks- instead of WB State Bank, the checks read "Private Banking Centre". Businesses would say they'd never heard of a bank with that name and refuse to honor the check. We were told we could not have checks that said "Warren-Boynton State Bank", they HAD to say "Private Banking Centre". We also discontinued our relationship with Patton Investments, finding that they were not helpful to us (yet charged us a fortune for stock trades). At that time we stopped using the account altogether, and forgot about it.

Recently a fee was debited from the account, probably an annual fee because we don't use it. This fee caused the balance to fall below $0. We got a message in the mail stating that we'd been charged a $15 overdraft fee- which was fine, as I probably should have paid closer attention and formally closed the account. I immediately transferred funds over to cover the overdraft.

It took 7 days from when the overdraft occurred to when we received notice of the overdraft at our house in WI. Each day, while this notice was in transit, we were charged an additional $10 a day (sometimes it was $15, there was no rhyme or reason). I moved more money over, but it was never enough- in the meantime, overdraft fees kept accruing.

Their business hours are horrible- 8 am to 3 pm M-F and 8-12 on Saturdays. We reached them on a Sat., but there was no one there in authority who could help us with resolving the account. We were instructed to transfer an additional $35 immediately, call again on Monday, and the account would be closed.

To stop the account from hemorrhaging from overdraft fees further (and figuring that @$10 a day between Sat-Mon we probably owed another $30 at least), I transferred another $75 to the account. In the end, the account was finally closed. In the end, we were out over $100 all over a small $15 overdraft.

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