Complaints

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

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  Devon Bank

  6445 N Western Ave Chicago, IL 60645-5590

  
• 

  Devon Bank

  561 N Milwaukee Ave Wheeling, IL 60090-3021

  
• 

  Devon Bank

  950 Milwaukee Ave Glenview, IL 60025-3710

  
• 

  Devon Bank

  1811 W Katella Ave Ste 143 Anaheim, CA 92804-6683

  

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:05/13/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore 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.

  Here are the details I have mortgage with Devon Bank. And insurance for the home was with AAA at time of the issue, that is during May/June of 2024, auto payment for AAA home insurance was dropped and I did not have insurance for couple of months. I moved the insurance to ******** and share the details with Devon immediately.What Devon did was to get a insurance coverage from the market that was 10X than what I was paying and what I'm planning. They are charging me for $2056 per month (for the gap) that cost me for a year from my insurance company. This is scam and they are taking undue advantage of the situation. I called them few times, they are not very responsive. Here are some the details of the person I talked to Phone : ********** Name : ****** Insurance Services ******************************** I'm ready to pay for the gap but a nominal insurance rate that I pay.

  

  Business Response

  Date: 05/23/2025

  May 23, 2025

  
  Dear BBB,

  Thank you for the opportunity to respond to this complaint (********). Devon Bank takes customer concerns seriously and remains committed to providing clear communication and fair resolution.
  We understand the borrowers frustration regarding the cost of force-placed insurance and appreciate the chance to clarify the situation.

  Background on Insurance Requirement
  As stated in the mortgage agreement provided to *********** ****, homeowners must maintain continuous hazard insurance and provide timely proof of coverage. When coverage lapses and no proof of replacement is received, we are required to obtain temporary insurance to protect the property. This type of policyreferred to as force-placed insuranceis typically more expensive and limited in scope.
  

  Communication Timeline
  Devon Bank sent two formal notices to the borrower requesting proof of active coverage:
  

  on May 7, 2024, and
  on June 6, 2024.
  

  Each notice clearly warned that, without acceptable proof of insurance, we would be required to purchase coverage at a significantly higher cost. Copies of the letters sent on these dates are attached hereto.  The attached letters clearly state:  "The insurance we buy:
  - May be significantly more expensive than the insurance you can buy yourself.
  - May not provide as much coverage as an insurance policy you buy yourself.

  Once proof of the Allstate policy was received, the force-placed policy was promptly canceled with no further charges beyond the gap period.

  Force-Placed Insurance Details
  - The prior homeowner's policy was canceled effective April 20, 2024.
  - The borrowers new policy with ******** became effective June 13, 2024.
  - Devon Bank secured temporary force-placed coverage for the 53-day gap.

  Clarifying Costs and Next Steps
  We understand the borrowers concern about the cost of the force-placed coverage. Unfortunately, these policies are priced differently than standard policies and are not underwritten in the same way. Devon Bank does not profit from the placement of these policies.

  We hope this helps clarify the situation, and would be happy to answer any further questions.

  Kindly,
  Devon Bank

• Initial Complaint

  Date:04/25/2023

  Type:Product Issues
  Status:

  AnsweredMore 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.

  Hello,I'm contacting you because of over $500 worth of unauthorized charges to my bank account. I contacted ********************** regarding this and presented proof of these unauthorized charges. Then I was reimbursed the amounts back to my bank account (so I thought everything was fine).Then suddenly they reversed the charge. I was confused because I was in communication with one team member via email (who was slow to respond). And he was assisting me. But then I get home from the holidays and there's a letter in the mail saying I need to provide more information. But I was under the impression that I didn't need to provide more information.Then Devon Bank reversed the credit to my account. And when I asked why, they said they needed more information about the charges. And when I tried to provide it, they said I could not anymore and that I couldn't appeal this decision.I want my money back. I did not authorize those charges. People can literally just steal from you hundreds of dollars and the bank is doing nothing to help me. They must really hate their customers. :(

  

  Business Response

  Date: 04/27/2023

  ******************,

  We at Devon Bank strive to provide excellent customer **********************. It is our understanding that you authorized this transaction; however, you were not satisfied with the service provided by the merchant. Due to the authorized status, we verbally requested additional information for Devon Bank to assist in your claim. When we did not receive the requested information, we sent you the letter you mentioned in your complaint. Unfortunately, we cannot continue our investigation into your claim because we still did not receive the necessary information. At this time, we recommend you work directly with the merchant for further assistance. 

  Kindly,
  Devon Bank

  Customer Answer

  Date: 05/08/2023

   
  Complaint: 19982272
  
  I am rejecting this response because:

  
  

  The response from the business is unacceptable. There's no reason why they can't reopen an investigation, especially since I received mixed communication from them during the whole process initially.

  
  

  
  
  Sincerely,
  
  *************************

  

  Business Response

  Date: 05/12/2023

  ******************,
  
  We at Devon Bank strive to provide excellent customer **********************.  Unfortunately, we cannot reopen this investigation into your merchant dispute due to time limitations.  MasterCard network requires detailed documentation, which was previously communicated to you, but which you never provided to **.   Additionally, the MasterCard network has a time limitation for arbitration of 120 days from the transaction date, which has now passed.
  
  We also feel that your comment that you received mixedcommunication from the bank is unfounded.  We received your initial claim for the merchant dispute on November 10, 2022. We communicated to you that we needed supporting documentation in order to submit your claim through the MasterCard network.  These details were also outlined in the provisional credit letter, dated November 25, 2022, which was sent to you, and which you acknowledged receiving.  That letter also stated that you needed to provide ** with supporting evidence for your claim by December 12, 2022.  None of the documentation we requested from you was provided to **.  On December 28, 2022, the claim was closed, and a letter noting the closure was mailed to the address we had on file.
  
  Since the time limitations have passed, your dispute is with the merchant, not with Devon Bank, and must be handled with them directly outside of the MasterCard network.

  Kindly,

  Devon Bank

  
  

  Customer Answer

  Date: 05/17/2023

   
  Complaint: 19982272
  
  I am rejecting this response. I have attached a screenshot that indicates that I emailed you on December 7 stating that I received your letter in the mail. I had previously submitted evidence, and I emailed you on December 7 to inquire if there was anything else you would like for me to submit, to which I did not receive a timely reply back.
  
  Sincerely,
  
  *************************