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Trustco Bank, NA

Phone: (407) 659-5701Fax: (407) 659-5691

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Customer Complaints Summary

7 complaints closed with BBB in last 3 years | 4 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues1
Billing / Collection Issues3
Problems with Product / Service3
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints7

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (7)BBB Closure Definitions
07/14/2014Billing / Collection Issues | Read Complaint Details

Charged me $10 for a dormant account
This bank is nothing but a scam! Too long to go into but we opened account 6 months ago just because we were trying to refinance our home loan. We went to close the account today since we never used them for the refinance and were told first that they couldn't look up our account because it had gone dormant(???) and to reactivate it and withdraw the money from the account, they wanted to charge us a $10 fee. What a joke! So glad we did not go with them on our home loan!

Desired Settlement
I want the $10 dormant fee back!!

Business Response
June 30, 2014


Dear Ms. ******:

I am responding to a complaint you filed with The Better Business Bureau recently. Enclosed is a check in the amount of $10.00 representing a refund of your dormant account fee.

Trustco Bank is one of the few banks to offer interest bearing checking without a monthly fee or balance requirement. These accounts do have maintenance expenses associated with them that we do not pass on to the customer, however we do charge fees associated with atypical activity such as a dormant status.

I do however disagree with your statement, "This bank is nothing but a scam". We are a 112 year old Savings bank, rated Five Stars by Bauer Financial Inc. We have an "A" rating with BBB and have won awards for our customer service.


**** ** *******
Florida President
PS. This is a copy of a letter mailed today to Ms. ******. The letter and the refund should arrive in a couple of days.

06/30/2014Problems with Product / Service | Read Complaint Details

When applying for a refinance loan for 90% LTV as advertized they came back with an extremly low appraisal.From what i understand the bank representative and the appriser should not be working together and be completely impartial for the fairest and accuate appraisal. the appraisal is manufactured by the two involved and not following the government guidelines.

Desired Settlement
have them provide a free copy of the apprasil and follow the government guidelines

Business Response
June 12, 2014

Better Business Bureau of Central Florida
1600 South Grand Street
Longwood, FL 32750

Re: Case #******** : **** *******

We would like to take this opportunity to thank Mr. ******* for bringing this matter to our attention as well as assure him that all appraisals are conducted independently and are within government guidelines. We feel that Mr. *******'s property has received a fair, accurate appraisal. In accordance with government regulation, a free copy of the appraisal has been sent to Mr. *******.

Thank you,

**** ******
Vice President

04/21/2014Billing / Collection Issues | Read Complaint Details

I opened an account with Trustco bank in Lake Mary, FL in 2013, I had setup a free checking account because i was going to refinance my home at the time, they stated that i had to have a checking account to qualify for their promotion. I ended up selling my house instead and kept my account active with $60. I noticed in April in 2014 that my account was being charged $10 a month for dormant account and now my balance was down to $30. I went into the Longwood branch on 4/9 and spoke with ****** who was the manager, i told her i was unaware of the fees and wanted to cancel my account. She mentioned i was on a dormant list at the Lake Mary branch and had to call over there. since my statement date was 4-4 they had taken another $10 out and they could give my the last $20 that was in my account and when i mentioned why i couldn't get the other $40 back she basically told me i was out of luck and they would not refund that money not even the $10 they just took out 5 days agos. My point is if was on a dormant list how come that branch never made an attempt to contact me to let me know, instead they continued to take money from my account and if i didn't look at my statement i would have never known. This bank is a total con job and taking peoples money without them even knowing.
Product_Or_Service: free checking
Account_Number: XXXXXXXXXX

Desired Settlement
I would like to request more $40 for the time taken to handle this, but money is not the issue its the principal of the matter on how emotionless this bank is to their customers. I do however feel i am owed the $40 which would have brought my account back to $60 which i started with.

Business Response
Trustco Bank is proud to be one of if not the only Financial Institution (FI) that offers a free interest bearing checking account. These accounts like all accounts in every bank and credit union have expenses associated with them which the FI either absorbs or passing along to the consumer. We choose to absorb the expenses with the exception of accounts that fall below $250.00, with no activity for a 9 month period. These relatively few accounts are charged an inactivity fee which is disclosed when the account is opened. I will assume however that the branch did not do a sufficient job of explaining it and therefor reverse the charges.

Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)
I accept the response as this may have been an oversight on the bank, since my account is closed please advise me on the refund will be processed. Also management in the Longwood branch should be coached as this could of been resolved if they made an exception

07/26/2013Problems with Product / Service | Read Complaint Details

I purchased a home using a VA homeloan for my military service. My wife and I divorced and as apart of the Marriage settlement agreement signed by the Judge (which is a court order) I was to obtain an appraisal of the home and refinance within 30 days of our divorce, I choose TrustCo Bank..An Appraisal is included as apart of the refinancing so the bank as well as I know what the homes value is.After going to the bank to get a copy of my appraisal report I was told "NO" several times by bank customer service (unless I paid them $375.)By Law under the Equal Credit Opportunity Act Title VII Sec. 701(E)(1) IN GENERAL.--Each creditor shall furnish to an applicant a copy of any and all written appraisals and valuations developed in connection with the applicant's application for a loan that is secured or would have been secured by a first lien on a dwelling promptly upon completion, but in no case later than 3 days prior to the closing of the loan, whether the creditor grants or denies the applicant's request for credit or the application is incomplete or withdrawn.(4) FREE COPY. -- the creditor shall provide a copy of each written appraisal or valuation at no additional cost to the applicant.It has now been 7 months.. The Appraisal benefits me in no way finacially. Property values have gone up substancialy in the last 6 months so this appraisal is pointless; other the fact that It was apart of a court order signed by the Judge and the Bank is with holding it unlawfully in return for money.According to the law; consumers MUST BEGIVEN A COPY OF THE REPORT UPON REQUEST IN WRITING. I have been repeatedly told no by TrustCo Bank. If I do not receive my copy as requested, I will be reporting TrustCo. Bank to the State Attorney General?s office for violation of my rights.

Desired Settlement
I want and will only accept an Original Copy of any and all appraisal reports done by TrustCo Bank on my Property Dec. 2012. Free of Charge as required by Law under the Equal Credit Reporting Act as stated above. ITS A COURT ORDER.If not, I have two Letters ready to send out. One to the New York State Attorney General **** T. ************ and the other to the Florida State Attorney General *** ***** for violation of my consumer rights and TrustCo Bank interferring and with holding Court Ordered information. If need be I will have my Attorney Subpoena the Appraisal. Either way TrustCo Bank will be reported.Im their customer, they are making large amounts of interest off me.. This is Rediculous!

Business' Initial Response
Thank you for bringing this matter to our attention. Due to confidentiality we can not discuss details regarding this complaint. We will reach out to our customer directly and clarify our appraisal procedure and policy.

05/28/2012Billing / Collection Issues
02/25/2015Problems with Product / Service | Read Complaint Details

Asked bank to file a dispute against a check that was deposit in my account they refuse to and its a fraudulent check that the police are investigatin
On January 9 20015 we contacted the bank to advise them of a fraudulent check deposited in my account on 1/3/2015 that i didnt sign and wasn't there wen deposited . The bank has refused to file a dispute against the check we have filed the police report and they are investigating the check . It is know the 25th of January 2015 and they still have not filed a dispute against this fraudulent check i have ben advised by the police not to put money in the account as i was a victim of fraud and forgery and counterfeit yet the bank keeps at me to put money in the account and refuses to look at the facts i have dropped of the police report to them and was still advised they will not file a report or dispute. As fare as i was advised once i requested a despite on this check the bank should have filled it yet they still haven't but the bank they have instead told me this is all my fault and made me feel more of a victim then i already am i suffer from a autism spectrum disorder and to to be treated the way i am is not ok in my eyes there my bank and suppose to be there for me wen im a victim and yet there not instead the bank is makeing me feel like its my fault wen its not i was taken advantage of and even the police understand and told me im not at fault at all in this . We are pressing fraud and forgery and counterfeit charges and taking the guy that did this to court for this also but we need the bank to do there job and file the fraudulent check dispute against the check for us were they haven't wen we asked weeks before and this should have already be dune .

Desired Settlement
I want the bank to file the fraudulent check dispute against the check and clear my account were this was a case of fraud and forgery i am also requesting a new atm card be sent to me and my old one be canceled and reported please i am requesting the bank take this seriously and not as a joke like they are to treat me with respect and not like this is all my fault.

Business Response
It is unfortunate that Mr. Reed, our customers intent to help a neighbor in need has resulted in a negative balance with this account. On the other hand as stated in the police report with the Deland Police Department, report***XX-XXX with officer ***** ******* our customer provided his neighbor with his debit card and pin number. Also as stated in the same police report our neighbor stated he received payment of 200 from his neighbor. The matter between our customer and his neighbor must continue to be handled through the police, but the matter and debt that is owed to Trustco Bank is between our customer and Trustco Bank. In addition as stated in all Trustco disclosures which were provided to our customer " If you permit or authorize other persons to use your debit card you will be liable for the resulting transactions. As stated from our Branch Manager, our customer as of 1/28/15 has a negative balance which must be paid.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
My name was not signed on the back of the check it was forged by another person on top of that there was no name in the pay to part witch makes the check not legal tender and the bank nows they should never have deposited this check at all this is a case of exploitation of a disabled person with autism spectrum disorder and the bank is being no different with the situation even the cops said i was a victim and its funny to me they only talk about the detective in deland wen this case was turned over to orange city police and the bank knows that to detective *********. The bank still has not and will not file a fraud and exploitation against this check because they will not do there job witch by law if i ask for a dispute to be filed they are supposed to yet they will not

Final Business Response
As stated before the customer provided his neighbor with his debit card and pin number, providing him authorization to the funds. Our position remains the same. The bank now considers this matter closed.

11/13/2013Advertising / Sales Issues | Read Complaint Details

Trustco bank processed our loan documents with the implied process that we would be approved for a loan and no need to look anywhere else.
Trustco bank denied our home loan after a lengthly process and a requirement to open an account and pay an application fee. The sales associate also changed the terms of our loan during the process and implied throughout the process we would be closing soon. Once the sales associate changed the free application process to a requirement of us to pay for the loan application I demanded to know of their would be any more surprised in the loan process. I was assured we would be closing soon. Because of the numerous delays we were invested in the loan process and couldn't move to another lender which forced us to pay the high application fee of $300. Ultimately we were denied the loan, I believe trustco had no intentions of honoring the loan and it was only to have more customers forced to open accounts with trustco and trustco collecting numerous application fees.

Desired Settlement
Application fee refund

Business Response

October 18, 20 13
BBB of Central Florida
******* ******
1600 South Grant St.
Longwood, FL. XXXXX
Dear Ms. *******
I am responding to your complaint activity report case #XXXXXXXX.
As you know privacy laws prevent us from discussing the details of our
applicant's complaints. However, I personally responded to the applicant in
writing on September 18th. My letter addressed the borrowers complaints.
This correspondence was in addition to other discussions and formal
In general, any borrower seeking a mortgage in the U.S. will be provided a
disclosure detailing the terms of their loan application which is signed in
triplicate. Furthermore, it never benefits a bank when a loan is declined. In
fact our application fee represents less than 2/3 of the interest earned in one
month on the average loan size.
Please do not hesitate to contact me if you need any additional information.
**** W. *******
Florida Regional President

Final Consumer Response
Mr ******* stated the free promotion ended at the end of April, our application was hand delivered to the Sanford branch on April 30th.

I'm amazed that trustco bank operates this way and treats their customers in this manor.

Again I must state that my wife and I are only asking for our $300. Application fee refunded to us. We feel this is very reasonable

Final Business Response
Business called and stated the consumer dropped off the paperwork in the end of April but did not complete the contract till the end of May. Unfortunately, he cannot grant what the consumer is seeking.

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