Know all the facts
Written: Oct 25 '04
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Product Rating:
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Pros: Change counter, weekend branch hours, helpful staff
Cons: Too-long delay between deposit and access to funds
The Bottom Line: This bank is fine as long as you don't live paycheck to paycheck, and therefore processing speed is not an issue for you.
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| jennigiki's Full Review: Commerce Bank (NY-NJ-PA-DE) |
I recently switched banks, and chose Commerce Bank out of all the banks in the NYC area due in large part to the reviews it received on this website.
This bank certainly has some features I appreciate: free online bill pay, scans of checks sent to me at no charge (in addition to being available on the website), and of course, the change counter and free accounts for my kids.
However, I had gotten used to the convenience of speedy transaction handling at my former bank. If you do a lot of online banking, be forewarned that it often takes two days for a deposit to appear online, and, I assume, the money is therefore in limbo for that period. This is unacceptable. Worse, is the fine print (you have to click to find it) that says that if they pay a bill for you that requires they mail a check, it will take SIX to TEN DAYS for the check to arrive. I got burned this month by my mortgage company to the tune of $107.
I can only conclude that this bank makes its money in that seemingly brief period between the time it leaves your hands and the time it shows up actually in your account. I am frustrated and will probably leave.
Recommended:
No
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Epinions.com ID:
jennigiki
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Reviews written: 1
Trusted by: 0 members
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