This bank permitted in excess of $1,000 of checking account transactions to bogus businesses in Central and South America. We discovered the transactions within 24 hours by contacting their customer service department. Presidential Banks customer service department said they were experiencing a rash of such transactions, that they had some problems in their mail room with some new hires, and after digging deeper we learned that they had hired some H1 workers who may have been given account information overseas.
The Vice President of the Bank Haila C. Cleaver acknowledge the money was wrongfully removed from our checking account and said he was entitled to hide behind a regulation called the Electronic Funds Transfer Act. As a result we were ripped off by this Bank and want o warn others not to do business with this bank or deal with these people. They have some serious security problems and our personal experience is your money is unsafe at Presidential Bank.
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