Monarch Mortgage

Write a Review757-222-2100

I do not reccomend this bank. I had been a customer for over 5 years and have had continous problems with overdraft fees. When i questioned how they came to the conclusion about my overdrafts, i was told you need to deduct your funds as you use the account to get an accurate balance. However they deduct money not at the time you have used it but at the time they were open to run the transaction. This bank has cost me over $200.00 in unneccesary fees. I do not receive notification by mail about going into negative balances and had based my balance on what my check registry was showing and continued using my debit card. One overdraft that i was incorrectly overcharged caused 5 other transactions (transactions that were less than $4.00 each) to go into overdraft and they would not work with me or refund the initial overdraft fee i was incorrectly charged. As a long time customer, you would think i would have good things to say but in the past year this banking instution has become one you have to contantly check for hidden fees. They also recently changed their fees and how they are assessed for using your atm card. You are now charged by both the ATM you use and by Monarch for any transaction, including inqueries. BUT they do not charge as you go. They wait until the middle of the month and take out 1 big deduction for the fees you would have been charged the entire month. This was a change that customers were not notified about, and you can imagine my surprise when i check my account online and see that i have been charged $22.00 in ATM fees that were only Monarch's charges. $22.00 dollars less than my check registry showed, so i question wether this bank is truely running your transactions as you are aware of them or are they holding up transactions on their side to hit you with extra fees? IF you like keeping your money in your pocket, do not use this banking institution. I'd rather give money to a charity not to a bank.