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Complaint Details
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Initial Complaint
05/14/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
In the process of opening a savings account with ********* digital banking division of Cambridge Savings Bank, I gave them all the personal information they required. Nevertheless, they claimed to be unable to verify my identity. I believe that the company is a complete fraud. They did the same thing to my husband.Customer response
05/25/2024
I have not heard from the business in response to my complaint.
Business response
06/03/2024
The Bank communicated directly with the customer to resolve the issue.Customer response
06/12/2024
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,******
Initial Complaint
02/23/2024
- Complaint Type:
- Product Issues
- Status:
- Unanswered
I wish to complain against Cambridge Savings Bank regarding their handling of the fraud claim that I have made. Starting around April 6, 2023 I was a victim of a scam by a fraud company ****************************** and lost ****** USD. The money was sent to ******************** I have previsoly made an inquiry with Cmabridge Savings Bank on August 18, 2202 in writing by requesting them to initiate a recall and asked them how is it possible that they did not find anything suspicious that the recipient and the owner of the company had prior convictions in both the ******************* and the ****************. ******************************* and ********************************* were charged for wire fraud and tax evasion in the ** District Court of **********, resulting in an indictment. Despite their legal troubles, they have persisted in fraudulent activities under the business name ****************************** Corp" in ******* to which I have fallen victim of. CSB has also response to my complaint on September 8, 2023 saying: "You also indicated that you believe that CSB had a duty to prevent you from making the payment to RJD. While we regret that this happened to you, CSB had no such duty. Nor would it be reasonable to expect CSB to have been able to prevent the payment". I believe that the Banking Act and the regulations concerning Duty of Care do not fall short when it comes to Cambridge Savings Bank and that it looks like the bank is not only avoiding any responsibility but also unaware of what they are supposed to do in order to prevent fraud.Initial Complaint
10/18/2022
- Complaint Type:
- Billing Issues
- Status:
- Resolved
Saw advertisement for Ivybank owned by Cambridge savings bank which coming less assets. They sent email asking to deposit money. I sent ***. Next day they sent letter saying they closed account for lack of funding. Meanwhile they have the *** funds. Not returned yet.In the letter it states if this is an error notify immediately. I called they said they do this all the time! Scamming consumers for deposits then saying account closed. The MA ************************ should investigate this Ivybank Cambridge scam.Many complaints on the web about this operation. Appears to be consumer fraud to raise capital at the publics expense. Closed the account I have no access to the funds. **************** has provided no answers or *** trace info. Even though they had me initiate *** on their website. Then lock you out! Federal law requires them to assist customers. Cambridge and *********** to break N***A Regulations and Federal law.Customer response
10/30/2022
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
*************************Initial Complaint
06/17/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
June 13, 2022 Re: My account with Cambridge Savings Bank Your assistance in resolving a very disturbing situation would be very much appreciated. A review of my account is much needed. I opened a checking/H32**3434353534313530H account with CSB in 2016, after selling my house. By 2020, living expenses occurred and my account had decreased significantly so it was easy to recognize *********** were not being transferred into my checking account! It seems another individual with the same name as mine was receiving my small deposits into her checking account. Bizarre as it may seem, the other *************************** had $70,000+ in her checking account. I need to know how many times this happened before I realized it and made corrections. Each time I made a deposit, I would patiently explain the situation to a CSB representative. When they proceeded with my request, they claimed they couldn&#**;t find my account and were puzzled--it sometimes took five minutes and unfortunately at times I would later learn it still was not placed in my account. All this, despite showing my debit card, checking account number and even my driver&#**;s license, the representatives were not capable of the simple task of putting *********** into my account. Numerous times, both by telephone and in person at the two CSB branches in Arlington, I tried to resolve this issue without success. Today, I am sending a copy of this letter to the President and CEO of Cambridge Savings Bank. My wish is that he will want to participate in correcting this situation. At one point, I believe in 2021, a telephone representative apologized profusely and told me he would set up a system to prevent this from happening again. His system has failed repeatedly. In a different matter, in 2016 when I opened an account at CSB, a performance plus account was used. I very recently learned the $20 monthly service fee should not have been applied at a certain cash level (simple checking). This $20 service fee was deducted from my account for an extremely lengthy time period and while I&#**;m not certain that it was intentional, it was wrong.Initial Complaint
01/26/2022
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
Opened a savings account with an online bank in August of 2021. Tried to make 2 additional deposits in Jan.22, and they were rejected. In addition, they have not returned the money to the other banks, and I have been locked out of my account. They have informed me my account is now closed. I have spoken to numerous people at the bank and have been given no explanation other than it is a bank decision. I want my money!Customer response
02/06/2022
The business has not contacted me concerning my complaint. I have spoken to the customer service department numerous times because I have been consistent calling them regarding this problem. My transfer of $25,780 was rejected by them and has still not been returned to me. They closed my account for some unknown reason. They said they are checking into why my money was not returned to the account from which it came. I have repeatedly asked them to get my money to me immediately. I dont know where the money is at this point, and they dont seem to know where it is either.
I appreciate any help you can give me on how I can get my money retuned to me.
*********************************
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