March 2024 by david chase
What do you call a place where you loan them money and they won't give it back ?We have banked with the Camden bank partners for over 50 years !!The service has been spotty , but recently it has been disturbingly careless and disrespectable to long time clients, like us.We had several CDs that were coming due, but Camden National couldn't tell us the new rate until they came due - upping the chance that they would "roll over" at a rate of their choosing. Sensing this unfriendly move we quickly moved them to NorthEast bank at very favorable rates. Camden didn't seem to care.Shortly after, we again visited the bank to move a relatively small savings account into our checking account - we were gob smacked when informed that 50% of the funds had been absconded "because it had become inactive" and Camden was in the silently (without notifying us) process of draining the remaining funds with monthly fees !It immediately became clear that this bank was taking full advantage of us by assuming that we didn't know that they were loaning out our money for profit and suggesting that this would allow them to simply take the funds and not return them.Not having a legal team at my disposal to take them to task, they felt quite comfortable in assuming this is "standard practice " . Thankfully today we have online opportunities to tell others about these disservices.I feel confident I will be getting the friendly monthly email telling me why we should continue banking with them and that they have all sorts of new maneuvers (aka services) where they can find ways to get funds to loan out to others at staggering rates , all the while rewarding us with the most minimum of interest.Count us among the VERY DISSATISFIED former customers of Camden National !
