Sovereign Bank

Chase doesn’t exist in Boston, so I had to open a new bank account when I moved here. This location was right around the corner from school and was offering a $ 50 bonus for opening a student account, so it was an easy decision. The staff here are incredibly friendly and personable. Every time I walk in (which is pretty frequent due to the need for laundry quarters), the staff is chatting it up with a customer. They seem to know all their customers on a first name basis — even mine!
Everything has been great so far. And they have an ATM in every CVS, so it’s pretty convenient.

I opened a small business account at Sovereign Bank in 2009. The bank representative assured me that there will be no fees or charges on my account. I deposited $ 240 and waited for my debit card to deposit more. After two weeks of not receiving the card, I contacted Sovereign Bank to send me a new card. I haven’t received the new card since, and couldn’t deposit my checks through ATM. Recently, I received a letter from Sovereign bank that they charged $ 160 inactivity fee from my account. I visited the bank and explained the situation and told them they don’t have a right to charge me without notice. The manager told me that I have agreed and signed to pay the inactive fees, however, I look into the issue more and found out that this new regulation of $ 16/​month inactivity fee started in October, 2010. Therefore, I definitely haven’t signed such an agreement and they definitely haven’t send me any notice. They unfairly, unethically and even without a notice, charged me $ 160 from my account.
You want to be ripped off by Sovereign Bank, go ahaead!