Presidential Bank Review
Posted by Best Bank Rates under [ 2 Comments
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How long has Presidential been in business?
Presidential Bank has been in business since 1985. We started our online division, Presidential Online Bank in 1995.
Who owns Presidential?
Presidential Bank is a privately held company.
Website: http://www.presidential.com/
Phone Number : 800-383-6266
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2 Comments on “Presidential Bank Review”
Presidential Bank has a policy that any out of state checks deposited will be held for five days (in my book it is seven days, if it’s deposited on Monday it will NOT BE AVAILABLE until the following Monday). Even though they’ve received your funds electronically, you can’t access your money until seven days! We’ve recently started a new business have had to use our personal credit card for start up costs, I’ve deposited checks in the amount of $5,709.91, $10,079.28, $6312.64 & now they tell me that a cashiers check in the amount of $13,035.23 has to have a hold on it also because I might put a stop payment on the check and they wouldn’t receive their payments. How many times before I get the message – Don’t do business with this bank! I think I’ve finally got the message. They are a nightmare to deal with, I am withdrawing my funds to find a local bank. Interest? Yes they give interest by using peoples money for a week before they are allowed to use their OWN money. I highly recommend that you do not bank with them, if any one has any ideas of who I can complain to in order to stop Presidential Bank from ripping people off, please let me know.
I think Presidential is an excellent bank. Many banks have a hold policy. Plus if you do an ACH they don’t put it on hold. I do that all the time and my funds are available right away. If I send a paper check, yes the hold it. I don’t blame them. It’s good business practice. That’s why this bank is in great shape during these tough financial times. Excellent bank. Sorry you don’t agree.