Complaints

This profile includes complaints for CBI Bank & Trust's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  CBI Bank & Trust

  301 Iowa Ave Muscatine, IA 52761

• 

  CBI Bank & Trust

  2400 2nd Ave Muscatine, IA 52761-5260

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:11/23/2022

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  When I applied for and received our PPP loan from CBI they told us we had to open a free checking account. They Knew we wouldn't be writing checks out of this account. Later when inquiring about the checking account balance we found out it had been closed. The banker that I spoke with (*******************) looked it up and finally found out that it had been closed. **** told us there were fees for a dormant account. The same bank sent us 6 different pieces of paper trying to get us to pay a loan off for $13.92 even finally putting a $100 service charge on one of the threatening letters. They never once sent us a letter about charging our account a dormant fee or closing it. I did inform him the last time we spoke that this was just a higher form of theft. **** was the one who told us we were required to open the account and said we didn't have to write checks out of it.

  Business Response

  Date: 12/08/2022

  We researched the issues brought up in ****************** complaint.  Our documentation indicates that **************** made a payment, which fell short of paying his loan off by $13.92.  He received two notices when the next payment became past due.  At the time of the second notice, he was charged a late payment charge according to the terms of the note he signed.  When **************** paid the remaining balance 17 days later, the late charge was refunded.  Because the loan did not go over 30 days past due, it was not reported to the credit bureau, so there is nothing to correct. 

   

  Regarding the second concern, many of our clients opened separate deposit accounts to receive *** loan funds and to help in tracking the usage of the funds for the *** programs intended purpose.  When **************** stopped using the account, he received a courtesy notice to sign and return to keep the account from going dormant.  He also had the option of running a transaction through the account or closing it.  One month later, **************** received a dormant account notice stating that his account was now dormant and asking him to contact the bank.  At the end of that month and each subsequent month, the account was charged a $5 dormant account fee, until December 2021, when it was reduced to a zero balance.  As with the fee charged on his loan, these fees were part of the account agreement signed by **************** and disclosed to him at the time of account opening.  **************** was sent monthly account statements reflecting the dormant status and the $5 fee.  He could have closed the account or returned it to an active status at any time during this period.  Given the small amount of fees involved, and in good faith, it is our intent to refund the dormant account fees to *****************  At this time, both of the accounts in question are closed and the bank will soon have refunded **************** all of the fees he was charged.

   

  Thank you.

  ***

  Customer Answer

  Date: 12/08/2022

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  

  I never once received a dormant account notification.  When I first checked on the balance of the loan the officer at the ********* said she could find no such account in my name. I asked her to check on it and get back to me. On the second notice I left a voicemail to the loan officer for my business loan. He never replied I finally reached him and he explained the dormant fees. I then sent the amount owed. 
  
  Sincerely,
  
  ***********************