MB Financial Bank
Reviews and Complaints

Ennis:
I work at MB and I can tell you that we DO care. And, as LadyScot noted above, how you made a deposit -- when, where, what time, etc. -- plays a part in how your deposit is posted to your account. I asked around the bank for some clarification as to what happened and my co-workers all invite you to call us (1.888.422.6562) so that a banker can look at your account specifically to explain what occurred. I thought you'd be relieved to know, too, that all agreed that this does NOT happen "all the time." Diane

Agree with complaint

MB Financial might as well just change their name to Wells Fargo Jr and be done with it. To treat loyal customers like so may marks to be ripped off mercilessly is unacceptable, indefensible, and criminal. $350 in overdraft fees in 2 days, all timed and manipulated for maximum profit, and even charging overdraft fees FOR overdraft fees? Even the Mob had more moral scruples than that. Run, don't walk, from this evil, greedy institution.

Re: Business account

I’m familiar with small business checking at MB as I work here. Your situation sounds unfortunate because it seems that there was a misunderstanding about the parameters of the account. MB Small Business Checking is free from monthly maintenance charges when you meet any one of the following: Your account has four or more MB Business Debit MasterCard® signature-based transactions per statement cycle OR maintains a $5, 000 or greater average balance for the statement cycle OR is linked to other MB accounts such as personal checking or savings (Certificates of Deposit do not qualify) that when combined have an average balance of $15, 000 or more. Of course, this is not a full outline of the account; your banker can provide that to you.

I know that these parameters were in place as of October 1, 2009 and all customers in this account type were notified by mail of this change prior to going into effect.

Again, because I don’t know the particulars of your account, it’s difficult to provide detailed information here but I encourage you to call us at 1.888.422.6562 so that we can resolve this situation. ~ Diane S, assistant vice president, MB Financial Bank

Re: Unauthorized closing of checking account

I am a manager at MB Financial Bank. I came across your concerns here and felt the need to respond. First and foremost, I understand your frustration; after all, we’re talking about your money. I also regret that, from how you describe your phone call to the Telephone Banking Center, it seems you weren’t provided enough detail so that you understand what happened and how it could be resolved. So I’d like to do that now.

Because we have hundreds of thousands of accounts to manage, our systems are automated and most accounts with a zero balance at the end of the business day are closed. We do this because a zero balance most often means that a customer means to close the account. By closing all accounts with a “zero” balance, we avoid the system automatically applying fees, which could overdraw the account and lead to additional fees. Believe it or not, this situation happens often enough and re-opening the account is a matter of calling us or coming into a banking center with a deposit. In addition, you could ask your banker to put an override on the account so if this situation does happen, we automatically re-open the account when we receive a deposit. We do have overdraft protection available on all accounts that qualify, too, and your banker or the Telephone Banking Center can help set that up.

As to why your alerts didn’t notify you is curious. From what I understand, it depends on how your alerts were set up. While an alert won't necessarily be sent if an account is closed, depending on the thresholds you set, it would be sent out if you asked for an alert if a balance fell below a certain amount.

Because I don’t know the particulars of your situation, this is all general information. I encourage you to give us a call at 1.888. 422.6562 and we can dig deeper into your particular situation so that we can determine what exactly happened and resolve this in a more satisfying manner. ~ Diane S., assistant vice president, MB Financial Bank

I opened a business account with them few months ago. They told me that there will be a $15 monthly fee IF I couldn;t maintain the $1500 balance every month, however, they said, that if I WILL NOT use my check card (debit card) for MORE THAN 4x, I will not be charged with the $15 monthly fee. I never used my debit card, if ever, i have just used them 2x the most. To my surprise, I got $15 deducted from my account. I called the customer service and they told me I should use my card EXACTLY 4x a month. My mom told me she was surprised too. She talked to the people at the bank and she was told that THEY JUST CHANGED THE POLICY. There was no notification or whatsoever. After getting so pissed off, I decided to close my account, but before that, I told myself, that I should get the remaining $18 from my account. So i went to the grocery today, and charged my card $16, to my surprise when I get home, they already deducted the $15 monthly charge. They used to charge me the $15 at the last day of the month, its only 1/29/2010. Its very frustrating...! Im still very much pissed off up to now, especially that I can't call them because its already 11pm.

Damn bank!

It's unbelievable what these banks, credit card corporations, and insurance companies can get away with. :( The bank that I've banked with for over 22 years may start charging for having a checking account. :( Unreal... If this does come to pass, I'm going to a credit union! I wish you luck!

I received a mortgage loan from MB Financial as referred to me by my real estate agent. They told me they would be able to close within a short period of time that I would not have to lock in the rate. They messed up my loan application by submitting incorrect information such as job history, income etc. This delayed my final approval which in the meantime the rate went up and I had to pay a point fee. I had to pay an additional .5% higher than what was originally quoted. Not happy about that since I am a senior citizen on a very limited retirement income. My neighbor had the exact same issues with them. Since I am a senior citizen, I am trying to pay off the mortgage early so I make additional principle payments so I don't have a mortgage obligation in my 80's. They messed up twice applying those payments. I had to contact them several times to make the corrections. They reversed the payment but messed up the accounting. In fact, they sold the loan to FHA and in doing so, two payments are not recorded. I filed a complaint with the Consumer Protection Agency and they are now doing some research as to why these errors occurred. I have a feeling this bank has no clue on the correct accounting procedures. I am very much in tune with the correct banking procedures as I am a retired banker and used to work for the FDIC closing banks for a living. So, my advice is to read your contract before signing and follow up on all payments made to them for the correct accounting. If they cannot resolve any issues, contact the Consumer Protection Agency to help mediate the situation. If they continue to receive legitimate complaints, the Agency will do an investigation to assist you. Good luck!

Our computer was hacked, hackers used the pay bill option, MB said they would investigate. after 2 months did not hear from MB, so I started calling. After 3 weeks they said they could not recover funds from the payee. I was hacked and fraud was involved but they say it was a internet bill transaction. After 3 months no one can recover money, they stalled and do not care about individuals and the elderly, they mean business, that's were the money is for them. We lost $4200, in attempt to stop the fraud once I saw it I put a stop payment on (not realizing it was a bill payment and not a check these crooks took), it cost $36 per transaction, still have not gotten that back even when they told me I should get that back. It has been half a year and MB still has not done a thing. I closed the account when my money was gone and they said since I no longer have an account we are not sure how to return your money. Really.

MB financial not only rips off motorist they also do this insurance scam with homeowners. I have never had a lapse in coverage but they surely for some odd reason, even though all insurance paperwork was submitted and paid for with that matter, was said I did not have it, and they put insurance on my account for me. The insurance they put was expensive and I did not authorize it. After dealing with them for the last 6 months, I am very fed up. This issue has been happening to me since May. Not only did they withdraw money from my escrow to pay their make believe insurance that I did NOT need, its taking them forever to get my escrow account and mortgage payments back adjusted. On top of this, in an effort to prove that I had insurance all along, my insurance agent sent all paperwork in - no problem, they paid the insurance again. So that means, they paid my insurance agent TWICE! Once I called in about resolving the issue my account was even further in the negative so I inquired why, and that's when I found out about the double paying. I am still currently dealing with this. This company needs to be charged with fraud. After they told me to call and get my agent to send back the check, my escrow was still in the negatives, and my mortgage rate increased like $200, so I was furious. I had to call and speak to about 3 people before they would readjust. EVEN though, I am paying insurance $300 less, and my taxes have NOT increased, my mortgage still went up $78. My question is how? Yall owe me money!

I did a google search on MB Financial's forced insurance after I called them to pay off what I thought was going to be 3 months left on my loan and was informed that there was half the original loan amount listed as the balance. I received a letter to prove my insurance for my motorcycle loan back when I received the loan - I submitted the proper information years ago and then received no further correspondence from MB Financial. 4 years later I find out they've been hitting the loan for $1000.00 each year for forced insurance.

If at any point in time someone is unsure what a scam is just look to MB Financial.

Billy, How did you make out with the atty gen? I took out a motorcycle loan in July with MB Financial and provided liability insurance as the dealer instructed. I provided proof of insurance and the loan was processed. If it was not sufficient insurance, MB's loan processor should not have finished processing the loan! This is very deceptive because now they are forcing $330 insurance for 3 months. I received notice a few weeks ago that they were going to "force" the additional required. believing I was ok with what I had, and busy, I put off replying. I received a second notice and immediately contacted them, and then my insurance co who told me they would put the insurance on and fax them the new declaration. This morning I get a call from MB collections telling me I owe them the $330 for 3 mnths comprehensive coverage, they have not received a payment due 10/24/10 and have late fees from the first payment as well as this last one (I later checked my checking account -payment was made 10/20-check cashed!). In fact, I had called MB Financial regarding the first payment as I had not yet received a payment book and they agreed to waive any fees. She did not have any record of a phone conversation. The collections person then lied saying they sent at least 5 notices regarding the insurance issue. I received 2 and reacted on the second. The caller was very rude, cut me off several times, did not want to hear what I had to say. Only wanted to know that I was sending in a payment, or "we will be having a conversation again", and did not want to make notes of my comments despite several requests. Finally told me the call was being recorded anyway. I said, "wait, you never told me that this conversation is being recorded", she replied "there is a recording that states that whenever customers call". Hello-ooo- YOU called ME! She also told me I have to call "SUI", their subsidiary - regarding insurance arrangements and then put me on hold to get a copy of my loan papers, and then starts acting like she has a law degree, quoting the contract which stated "must maintain appropriate coverage" (sic). I told her the wording is quite vague. "appropriate". I was told I had "appropriate" insurance and was allowed to take the bike. She cut me off several times, would not let me speak, and then finally when asked, gave me a phone number for their "subsidiary" company who has put the forced insurance in place. I immediately called. Some hole in the wall operation with only one phone line - I got a busy signal.

mbfinancial has no respect for their customers . last satureday I went to withdraw$2550, the teller told me it is availlable, but have to get overright from the supervisor bz his limit for withdrawls is only$500. she refused to give me my money saying the funds are not available.I asked for the printout for my statement (which i still have with me) . which clearly shows funds are available. I asked to give me in writing that my funds are not available, she refused to do so, which clearly indicates that they were leing and just wanted to hold my money against my will. Iwas humuliated for one hour when i said Iam going to call Police and file a complain for not releasing my own money, she gave me only $1500. I had to go back next day to get my money. I closed my account with them, Iwas their cust0mer since 1996.I warn people to be care full before they open up an account with mb financial who is buying & eating small banks with our bailout money.

I am not experiencing this problem, but I did notice an unauthorized check (in the correct sequence) go through my business account recently for approx $3000, and MB had me sign an affadavit that it was not authorized. It actually says "verbally authorized" on the check which goes to someone's Target credit card that I have never heard of or done business with in the past. Basically, they say they will get me the money back, but I do not feel I should have to wait 30-90 days before that happens. Someone at the bank authorized the charge to my account without valid identification from myself, the signer. I am so upset with them right now it's not even funny. Shouldn't a bank have an account set aside for this type of thing, where after the client (me) signs an affadavit stating this was an unauthorized charge (and bank error) the bank gives the money back immediately and handles getting the funds back in the backend where I don't have to wait? It's just ridiculous and now I've pulled 200k from the bank account. Is it really worth them losing over 200k in the bank for a 3k fraudulent check? I think not. They are idiots over there and always point blame at their customers instead of taking care of us.