Presidential Bank, FSB
Presidential Savings Bank, FSB Bank wrongfully dishonors drafts, refuses to cover our costs and after we complain closes the account!

I have had my checking account with this bank for over five years and every month I have been paying my husband's credit cards through this account using electronic funds transfer.

Suddenly, last month we were notified by the credit card company that our payment was returned and the reason given was that the checking account did not exist! My husband was assessed late fees and his credit line was decreased as a result.

When I called Presidential Bank to ask if this was a mistake, the person in charge of processing drafts, Dori, told me I could not pay my husband's credit card bills without first getting an approval from the bank! When I reminded her that the bank had already agreed to pay the drafts because it had done so over the past five years, she came up with another excuse for not paying it. She said the account didn't have sufficient funds, which was not true because my husband had made a cash deposit and received assurance from the branch manager that all checks would be honored. When that didn't work she became agitated and started interrogating us about our finances wanting to know why I was paying my husband's credit cards and why his name was not on the checking account. We told her that was none of her business. At this time we knew she had developed an axe to grind against us which was later confirmed when a few days later two more drafts were returned unpaid causing us more late fees with additional credit line decreases. This was after I had specifically instructed the bank to pay the electronic drafts. This time the official reason given was "Stop Payment".

Soon after that phone conversation with Dori we received a letter from the bank's attorney advising us that the bank was closing our account withing 30 days. I guess this is their idea of customer service. Screw the customers and if they complain just get rid of them.

We are not going away quietly though. We will be filing suit pro se, as we have done numerous times when others have violated our rights. We have gone up against big law firms and survived every imaginable motion so we are not easily intimidated.

This is the most arrogant behavior I have seen from a bank. All they had to do was apologize and cover our damages but now they have to defend a lawsuit.

Company: Presidential Bank, FSB
Country: USA
State: Maryland
City: Bethesda
Address: 4520 East-West Highy way
Phone: 8003836266
Site: presidential.com

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