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Verified CustomerWe had Wells Fargo previously and were forced to find another HELOC because Wells Fargo was getting out of the mortgage business. Do not use these guys!
1. First warning flag: When we closed the loan, they had to payoff our Wells Balance. Did they transfer the amount to Wells for the payoff on the same day? NO!! They sent a fricking paper check to Wells Fargo which took another 10 days so we paid double interest on our old and new loan.
2. While you are required to have a checking account (for auto-pay to get a better rate), we learned you CANNOT elect to transfer funds back and forth between a checking and HELOC Account! What the funk! The ability to transfer between accounts does not exist! AND if you to pay more on your loan, you either have to mail a payment, go into a branch or go to ANOTHER website for a one time payment that has horrid security! I was able to see someone else's loan amount and rate. And I have a screenshot to prove it! I have no idea if my payment would be applied to my loan or someone else's.
3. My FIRST experience with paying my monthly min along with additional principle has been horrible. I went into a branch and asked to have the minimum amount applied, with a substantial principal amount. One the day my autopay was due, I did not have the minimum amount in my checking (stupid me for thinking that if I went into a branch to make the minimum payment, it would show as paid and it would be cancelled). So they not only charge me a $26.00 overdraft fee, they are now charging me $6.00 A DAY!
I can't wait to pay these guys off and close my account with them, and I will fight tooth and nail, the $300 they will want to charge me for closing the loan early!!!
They need to FIRE their CTO. It looks like this company acquired a bunch of other small companies and are too cheap or lack the technical knowledge to integrate them into a single platform! This is a low budget bank with horrible technology. Feels like 1993 not 2023!
1. First warning flag: When we closed the loan, they had to payoff our Wells Balance. Did they transfer the amount to Wells for the payoff on the same day? NO!! They sent a fricking paper check to Wells Fargo which took another 10 days so we paid double interest on our old and new loan.
2. While you are required to have a checking account (for auto-pay to get a better rate), we learned you CANNOT elect to transfer funds back and forth between a checking and HELOC Account! What the funk! The ability to transfer between accounts does not exist! AND if you to pay more on your loan, you either have to mail a payment, go into a branch or go to ANOTHER website for a one time payment that has horrid security! I was able to see someone else's loan amount and rate. And I have a screenshot to prove it! I have no idea if my payment would be applied to my loan or someone else's.
3. My FIRST experience with paying my monthly min along with additional principle has been horrible. I went into a branch and asked to have the minimum amount applied, with a substantial principal amount. One the day my autopay was due, I did not have the minimum amount in my checking (stupid me for thinking that if I went into a branch to make the minimum payment, it would show as paid and it would be cancelled). So they not only charge me a $26.00 overdraft fee, they are now charging me $6.00 A DAY!
I can't wait to pay these guys off and close my account with them, and I will fight tooth and nail, the $300 they will want to charge me for closing the loan early!!!
They need to FIRE their CTO. It looks like this company acquired a bunch of other small companies and are too cheap or lack the technical knowledge to integrate them into a single platform! This is a low budget bank with horrible technology. Feels like 1993 not 2023!
Product: Comerica Bank Home Equity
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Revising my last comment: feels like 1870 not 2023!
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