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Business Profile

Bank

Brookline Bank

This business is NOT BBB Accredited.

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Reviews

This profile includes reviews for Brookline Bank's headquarters and its corporate-owned locations. To view all corporate locations, see

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    Customer Review Ratings

    1

    Average of 1 Customer Review

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    Review Details

    • Wendy D

      Date: 08/10/2023

      Approaching the date that my Brookline Bank CD came due , I received a note in the mail telling me that my certificate would mature on August 9, 2023. The note indicated that the CD would automatically renew at the rate offered at maturity and for the same term.The morning of August 9, I decided to call and find out what the current interest rates on CDs were and was told it was 4.5%. I hung up and thought about it and than decided to renew. I called a second time to verify that was indeed the current CD rate. This bank representative told me that it was. I fortunately thought to confirm that MY CD would indeed be renewing at that rate. Then this bank representative said oh, if you want to this rate, it's a special rate, we can renew it at this rate but otherwise, it would have automatically renewed at their standard rate which was ****%. In other words, if I hadn't specified renewing my CD and just called to find out the rates, I would not get that rate. I think people need to be aware of this deceptive practice. I'm sure many people call to find out what the rates are and assume that their CDs are going to renew at that rate. But no, one needs to specify this rate. The automatic renewal is that a much lower interest rate.Should you have any questions, I'd be pleased to explain further. I just feel Brookline Bank customers could easily be confused and be locked into a very low CD rate.

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