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BBB Accredited Business since
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A BBB Accredited Business since
BBB has determined that The PrivateBank meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Reason for Rating
BBB rating is based on 13 factors. Get the details about the factors considered.
Factors that affect the rating for The PrivateBank include:
- Length of time business has been operating
- Complaint volume filed with BBB for business of this size
- Response to 1 complaint(s) filed against business
- Resolution of complaint(s) filed against business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||0|
|Total Closed Complaints||1|
Customer Reviews Summary Read customer reviews
|Customer Experience||Total Customer Reviews|
|Total Customer Reviews||2|
Licensing, Bonding or Registration
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
These agencies may include:
Illinois Department of Financial and Professional Regulation
100 W. Randolph, 9th Fl, Chicago IL 60601
Phone Number: (312) 814-4500
Type of Entity
Business ManagementMs. Amy Yuhn, Chief Marketing Officer Mr. Dean Haacker, Managing Director Ms. Lindy Lode, Managing Director Ms. Katie Manzel, Associate Managing Director Mr. Larry D. Richman, President, CEO
Banks Banking Services Retirement Planning Service Financial Services Mortgage Bankers Savings Institutions (NAICS: 522120)
Alternate Business NamesPrivateBancorp, Inc. PrivateBank and Trust Company
Customer Review Rating plus BBB Rating Summary
BBB Customer Review Rating plus BBB Rating Overview
120 S La Salle St
Chicago, IL 60603 Directions
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Types of Complaints Handled by BBB
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BBB Complaint Process
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Additional Phone Numbers
- (312) 564-6818(Phone)
- (312) 564-1409(Phone)
- (708) 671-3412(Phone)
- (312) 564-2000(Phone)
Complaint Trends - Last 3 Years
Customer Review Trends
BBB Customer Review Rating plus BBB Rating Overview
BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.
|Customer Review Experience||Value|
|Positive Review||5 points per review|
|Neutral Review||3 points per review|
|Negative Review||1 point per review|
BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.
BBB Letter Grade Scale
Star Rating scale
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Read Complaint Details
Complaint: My company *********** Corporation) gave me a $500 rewards card **** xxxx xxxx 0710) for Long term service (15yrs) - had an expiry of 09/13. I used for about $107.42. I misplaced the Card and I couldn't locate it until Dec 1st 2013. On Dec 1st 2013, I called the phone number on the back of the card X-XXX-XXX-XXXX - spoke to a representative named ******. He gave me another number to call - XXXX-XXX-XXXX. Called (multiple times) on Dec 23rd 2013 around 4PM Central Time USA. I spoke to "***" and her Supervisor ************ who said that as-a-courtesy card will be re-issued within 60 days beyond expiry. I was referred to the "Terms and Conditions" on the card, available at "https://www.mycardbalance.com/index.cfm?pageid=g07&CFID=1&CFTOKEN=6716FXXXXXBFXXXXXXXXFE7284AXXXXX&CFSEQ=18". The Terms and Conditions, it clearly mention that " Fees: You agree to pay all of the fees charged by the Bank for the Card, transaction fees or Card Program services applicable to any use of your Card. You also agree to pay any fees imposed by others for purchases such as transaction fees, handling fees, etc. You also agree to pay fees associated with reissuing Cards on your behalf. Card Reissuance Fee - $10.00 - Upon notification and within three months of Card expiration, a replacement Card may be reissued for the unused balance less a fee. Monthly Service Fee - $2.50 - As allowed by applicable state law, this is a monthly service fee on your Card. As a courtesy, this fee will be waived up to the expiration date printed on the face of your Card. Excess Usage Fee - $25.00 - This fee will be charged if you exceed the value available for use on the Card. Please keep track of your balance at all times to avoid this fee. Account Closure Fee - $20.00 - Upon request or if Card accounts are misused. " The KEY condition being breached is "Card Reissuance Fee - $10.00 - Upon notification and within three months of Card expiration, a replacement Card may be reissued for the unused balance less a fee." Based on this, I should be reissued the card since I notified the card bank of the same, since I called on Dec 01 2013 as well as Dec 23 2013. On my calls on Dec 23rd, I clearly told them that the T&C tell me that I am eligible for card reissue with a fees of $10 since it is still within three months of card expiry. I was repeatedly denied this, and repeatedly told that they only allow a courtesy of 60 days. whereas T&C clearly say THREE months. When I was pointing to the Terms and Conditions on the card, I was told that I was being rude, whereas I was hung up on once by their side saying NOTHING CAN BE DONE ON THIS SITUATION, I was calmly explaining the applicability of Terms and Conditions. In my view, this is CLEAR breach of terms and illegal act by the "PrivateBank and Trust" company. I request my card be reissued with a balance of $392.58, minus the $10 fees if any applicable and wished to be levied by the company as per Terms and Conditions. It pains and feels sad to be denied the hard earned Long Term Service Rewards Dollars.
Desired Settlement: I request a replacement rewards card be reissued with a balance of $392.58, minus the $10 fees if any applicable and wished to be levied by the company as per Terms and Conditions.
Business Response: Initial Business Response /* (1000, 7, 2014/01/10) */ Contact Name and Title: ****** ****** Contact Phone: XXX-XXX-XXXX Contact Email: *******@theprivatebank.com Dear Client: Thank you for your recent correspondence dated December 24, 2013, with the Better Business Bureau (BBB) regarding your expired gift card. We are very sorry to hear that you encountered issues with the customer service on your gift card. The gift card you received was issued under a contractual relationship with ***** ******* Solutions ******** Once we received the details of your complaint, we contacted ***** with a request that it investigate the matter and attempt to resolve the complaint. ***** has confirmed to the Bank that the gift card was reissued on January 7, 2014, for the amount of the expired gift card. We trust this response fully addresses your concerns. If you have any questions or need any additional information, please contact me at (XXX) XXX-XXXX. We appreciate your business. Sincerely, ****** ****** Associate Managing Director Compliance Department
Customer Reviews Summary