Complaints

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

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SWBC Investment Services has 2 locations, listed below.

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  SWBC Investment Services

  9311 San Pedro Ave San Antonio, TX 78216

• 

  SWBC Investment Services

  9311 San Pedro Ave Ste 600 San Antonio, TX 78216-4459

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:01/25/2023

  Type:Customer Service 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.

  My bank Common ******************* provided me with insurance for my car. I had a accident 1/8/2023. I called SWBC on 1/10/2023. They provided it will be 7 to 10 business days to receive a claim number. I called close to after 5 days to just check the stats on where was the claim number. I was this provided a didn't story. Call back next week we should have something. Fast forward to next week I called 1/23/2023 and I talk to a agent by the name of **** he provided I will have a claim number in 24hrs to call back then. From there someone will come look at my car within 48hrs. I called 1/24/2023 provided no claim number as of today try again next week. I then ask to speak to a manager. Manager get on and over talk me. Provided it more like ***** days and it was a whole different process that it take. Which none of this was provided to me from the initial called. I then ask for a call pulling to see why will they agent provided false information from day one. This company does not train none of the employee well at all. No one story stay the same. I have storage fee that racking up out my pocket due to the lack of communion from this company.

  Business Response

  Date: 01/30/2023

  A claim number has been issued and the claim is currently in process of review.  The Complainant has been notified of said status.  Please see attached response letter.  Thank you.

  Customer Answer

  Date: 01/31/2023

  Complaint: 18888969
  
  I am rejecting this response because: It took for me to call my credit union to jump in and get a claim number process. After the company stated they was waiting for insurance information from me. Which i told to begin with in the first initial call I had no insurance and I wanted to use the the insurance place on my car which added fees to my loan balance. I will like for all calls to be listen to and tell me if Im in tje wrong. The last agent stated we was waiting on your insurance and I told her how when I dont have any. She also stated this kind of push the process back. Like I stated in the official complaint the lack of communication and the lack of listening to the customer trying to rush them off the phone is where this company slip through the cracks. In no shape or form I should of waited almost 10 business days to get a claim number. It took me calling my bank to complain to get the ball rolling. 
  
  Regards,
  
  ***************************

  Business Response

  Date: 02/08/2023

  The initial information provided to the Complainant was conveying the standard processing time, as the representative was not aware at the time of said call that a higher-than-average number of claim submissions caused the processing time to extend.  The claim was immediately assigned to a processor when management became aware of the discrepancy in processing time told to the Complainant.
  
  The insurance coverage referenced in the complaint is issued under a collateral protection insurance (***) policy.  The named insured on the *** is the lienholder on the Complainants vehicle.  The claim proceeds have been processed and sent to lienholder as the insured on the insurance policy.

• Initial Complaint

  Date:11/17/2022

  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.

  SWBC handles homeowners insurance for my mortgage lender. I have my own homeowners insurance through Farmers. I have had the same policy number and coverage, with no gaps, since I bought my property in 2015. SWBC/********** Mortgage Lender somehow lost proof of my insurance, so without my consent they enrolled me into their own insanely expensive insurance. Without notifying me they added 440$ more into my monthly mortgage payments. This whole ordeal is too long and complicated to type into this box. After hours of getting put on hold, multiple transfers of calls, and ambiguous responses, they finally found the declaration page they said was missing. I thought i was all set. Next day I get the same email from them (imcovered.com) saying they were unable to obtain the needed information. I soent over 2 hours in total on the phone with them. It took me all of 5 minutes to obtain the declaration and upload/fax to them (which i have timestamped proof of). Finally i got a hold of a supervisor, emailed her the *** directly and I am praying this is the end of it. They extorted 440$ from us, almost cost me a missed mortgage payment, hurt credit etc. This was a mistake in their end and I had to jump through all kinds of hoops to get the situation resolved (which is still pending). This whole thing reeks of a scam. I can't imagone elderly folks or the technologically challenged being able to successfully navigate through this process.

  Business Response

  Date: 11/29/2022

  SWBC provides insurance tracking services for mortgage servicers to ensure hazard insurance is maintained on mortgaged properties.  Upon expiration of the homeowners insurance policy in November 2021,SWBC spoke to the agent who could not locate a policy and advised that the insured would need to verify the policy number.  SWBC relayed this information to the borrower.  SWBC did not receive the renewal policy and a lender placed policy was issued to protect the lenders interest.  A replacement homeowner policy was received in October 2022.  SWBC made several calls to the carrier and sent fax requests to obtain the policy for 2021 2022.  The borrower emailed the policy directly to SWBC and a full refund was processed on November 17, 2022.