Cambridge Trust

This is a great bank, with friendly service and excellent rates

The service has improved so I am upping this 2 stars. I'm still leaving my experience here.

I have had repeated bad experiences, and after months of issues with Optima, now that they are Cambridge Trust, which is just as bad. Shortly after switching to Cambridge they would not give me access to my account and blamed Verizon Wireless, and after going into the bank and complaining, they finally gave me access.

Meanwhile, since I was signed up with e-statements, I was getting no statements for my loans, and had no access to my money at Cambridge. I had to waste my time making a trip to the bank, rather than using online banking, which has been fine for 20 years with every other bank I have used, which has been consistently poor with both versions of this bank.

At least I was able to close my checking account, but they still make it difficult for me to simply make automatic payments to my mortgage. I have had mortgage payment issues almost every month since I have had a mortgage with this bank. Why would a bank make it this difficult to make payments? I make extra payments, I pay larger payments. I'm an ideal customer for a bank because I'm never late, and I always pay on time. With them, their system never seems to work, even when using THEIR bank as my checking account! I at least corrected that mistake and closed my checking account, but until the mortgage issue is resolved, I am stuck at Cambridge.

I wouldn't even have banked with them if I had the choice, and only had an account because I have a loan with them and it was part of the requirements. So I would think twice about getting a loan or opening account with this company. I have never had so much issues with a bank before. The process was fine, for the most part, when I first got my loan. But once that was done, it all went down hill...

Just to be clear, I am having issues because I want to pay my loan on time and I want to make extra payments to the loan. When I first setup extra payments, they made it all complicated and acted like I was the only one in the world who wanted to make extra principal-only payments. In fact, they have made it difficult since my first few payments. I once made an adjustment to an extra recurring payment (seperate from my regularly deducted payment), and all of a sudden had all of these demands for additional documentation. It seemed as though they made it more complicated for me simply for adjusting an EXTRA payment... Whether that's simply my perception or not, the fact is, they make it difficult to make payments, and are very difficult to work with and do not follow up to customer requests. You start off polite, asking a question, but after weeks of no response and the same excuses, it's starts wearing on you.

Ultimately, this bank doesn't seem to care for its customers, especially regular individuals and small businesses. From my vantage point, they seem to only care about their large accounts... Or at least I hope they at least treat them with some respect and follow up with their requests; they for sure don't treat us with any respect.