Consumer complaint received 2016-01-14
Company: INVESTORS BANK
State: AZ
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Account opening, closing, or management

Complaint:
On, XXXX/XXXX/XXXX, I opened XXXX money market accounts and XXXX checking account at Investors XXXX Bank located at XXXX XXXX XXXX in XXXX, NJ XXXX. 
XXXX. XXXX XXXX. XXXX XXXX. XXXX XXXX. XXXX There had been a previous account at the bank which was opened on XXXX/XXXX/XXXX XXXX. XXXX Because of the large amount of money being deposited at Investor 's XXXX Bank, it was agreed that the branch would give me a higher interest then their regular customers. For several years, the money sat in the accounts and if I wired money out of any of the accounts, I shortly thereafter replaced it. Over the years, there were numerous errors on giving me the correct interest rate. Some examples are on XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, etc. There were too many dates to list. 
Numerous times I reached out to the Branch manager and to XXXX XXXX and XXXX XXXX, but on occasion, attempts were made to correct these errors but this was not always successful and in frustration, I just gave up as it was too time consuming for me to take time away from my business to correct the bank how to adjust the correct interest, have them attempt to correct the errors and then have to show them that they still had short changed me and in desperation, I just gave up. The correct interest has never been fully credited back to my account with an accounting of the correct interest amount at the time and what the correct rate I should have been given. 
Another issue that I have with the bank is that on occasion I called the bank and followed up with an email/fax to have money wired to me. XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, Up until recently, the bank complied and then just recently when I tried to wire money on XXXX/XXXX/XXXX to my stock broker to pay for stocks that I had purchased and needed to be paid for, the branch manager, XXXX XXXX, and vice president, XXXX XXXX, both refused to do a wire transfer, stating that the bank will not allow me to do any wire transfers. They told me to come to the branch to withdraw the money knowing that the branch is located in New Jersey and I reside in Arizona. After much anguish and running to and from the stock brokerage firm, the bank adamently refused the wire transfer and insisted on sending me a bank check. I vehemently objected to this but the bank wa adament they were not going to wire the money. The bank did not have the right to refuse me to do a wire transfer. 
I was so annoyed over what happened, that I closed out all of my accounts at the bank. In doing this, I wanted the bank to make me whole on the money that I was cheated out of due to their negligence in not correctly calculating the interest from day XXXX when I opened the accounts. XXXX, the VP, insisted that she herself perused the accounts and found that the bank shorted me approximately {$500.00} +. My calculations came to approximately {$900.00} +. When XXXX review the accounts, she now came up with a number close to {$100.00}. It was as if XXXX just picked any number out of a hat to keep me quiet and her numbers were always changing.This is unacceptable to me. I want to be made whole on all the interest not given to me plus with interest on the time that the bank has had use of that money, too. 
I must admit that dealing with Investor 's XXXX Bank was quite an experience after XXXX XXXX stopped working there. At times I felt like XXXX XXXX had no idea what I was talking about or what she was doing & I 'm convinced that XXXX XXXX never wanted to be bothered. Out of frustration after making so many calls recently & over the years to get my interest problems straightened out, I reached out to XXXX XXXX, the bank CEO. He assured me that he had assigned my case to XXXX of his employees that would be calling me later in the day, yet no one called in over a week.

Company response to consumer: Closed with explanation