After years of banking at 5/3 Bank, I tried to refinance a mortage on my business commerical property. Not only did they offer me a horrible rate, almost 3% more than what I eventually refinanced for, they also said that it would be impossible to take out any of the equity. The building was appraised at 5,000 and I owed $101,000. I had asked for $8,000 to make improvements. 5/3 said no.
I refinanced with PBI Bank and they were happy to give me a great rate and the $8,000.00 and told me I could have taken more if necessary.
After this poor treatment, I decided to change banks for my business and personal checking and found that 5/3 charges $50.00 per account to close an account. That is a rip-off. I have emptied the accounts, but have not closed them as they can sit at zero with no service fee. I want to protest these fees and get the accounts closed.
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