I have had bank accounts in a few different banks over many years, and never had a problem. I recently opened an account at a Sovereign bank; deposited a money order, and five days later wrote two checks, and they bounced them, and charged me $25.00 each. When I confronted them, they very righteously said that I should have waited another day. Nothing was explained to me when I opened the acct.
Then I wrote a check for rent; a week later I went to the bank and cashed an unemployment check, and they charged me $25.00 because they put a hold on money in my account when I cashed the check, and so there wasn't enough for the rent. So... I again confronted them but this time closed the account out, because they were as self righteous as the last time. Before I closed it out, I had written a check to my cable co. For 81.00 and I went to the office and asked if they could not cash the check, and i would pay them cash, which I did. They said that if the check went thru and bounced they would take the fee off.
Well, guess what, the bank honored the check, when there was no money in my account, and is now sending me bills adding on five dollars a day, saying that if i don't pay it they will close out my account, which was closed out long ago! Stay away from sovereign!
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