First Commonwealth Bank, BLOOMFIELD BRANCH

frustrated and appalled
Overall Rating
Other Services
by FrustratedBanker, Aug. 01, 2013

I started a checking account with this bank while living in Pennsylvania years ago, because it was conveniently located close to my workplace at the time.  I kept this account after moving away years ago because my life insurance was deducted from this account, and because the online service made it convenient to monitor and pay bills from, topping it up intermittently through their mail teller.  I had also invested money in mutual funds through their in-house agent, though a partnership they had with an Investment Brokerage company.  I continued to get statements separately from both accounts before my last relocation in 2009. I had not updated my contact information while living overseas but continued to lodge checks and pay bills without a problem, monitoring details online.  In May, 2013 after logging on to check on a mailed deposit, there was no record of my account.  I telephoned their call center at the time, and they allowed me to update my contact information after their verification procedure, but stated they could not release specific info about my account without also speaking to the cosignatory, a family member, directly.  On calling back subsequently with my family member present, they told me they had no account for me and (after much time on hold and requesting the supervisor) was eventually told that the account was closed in January and "charged off" to a collections agency, when it developed a negative balance of $2!  They had no information on the whereabouts of the bank check mailed in subsequently.  Furthermore, they had no information about my mutual funds investments. Transfer to the Mutual Funds department was completely fruitless, except to be told the account was "closed" 3 years previously!  Despite having an email account where I am notified of bill balances etc, no contact was made with me at the time, or even after I updated my address.  Calling around on my own, revealed that the brokerage agency was taken over 18 months ago by another company.  The new company has no record of my account.  After further other fruitless calls to various companies, I am left only to seek assistance from the SEC.  This is unacceptable, since the law requires all banks to keep records of their client's investments.  The bank logo appeared on every statement of my investment account until I moved.  I would not recommend you bank with this company.

* this reviewer has be with this bank for >10 years
* this reviewer had 1 - 2 banks before.
* this review was made on First Commonwealth Bank, Bloomfield Branch at Pittsburgh, PA
10 of 11 people found this review helpful. Was this review helpful to you? Yes, No   Report Abuse

0 comment. Add a comment