Anchor Bank

★★☆☆☆
  • 6 5th St W

    Saint Paul, MN 55102

    Map & Directions
  • 651-222-5551

About Anchor Bank

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Finance

Finance
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I have been a customer of Anchor Bank and Signal Bank for 27 years. The bank we started with, Signal Bank, had many bankers move to Anchor Bank and our company and several employees of our company moved our personal and business accounts to Anchor Bank when they moved from Signal to Anchor. And now in spite of this long relationship, in spite of never missing a payment, in spite of running several million dollars through their bank, in spite of a direct request to the banker that we originally had 27 years ago, they have given me an ultimatum to find another place to lend me money because they are severing our relationship with the statement, "Unfortunately there is nothing I can do." I would not recommend this bank to anyone and find another bank that is willing to work with you instead of finding ways to make your life miserable. Thanks for NOTHING Anchor bank. Screw all the bankers and attorneys!

1
★☆☆☆☆

I have been a customer of Anchor Bank and Signal Bank for 27 years. The bank we started with, Signal Bank, had many bankers move to Anchor Bank and our company and several employees of our company moved our personal and business accounts to Anchor Bank when they moved from Signal to Anchor. And now in spite of this long relationship, in spite of never missing a payment, in spite of running several million dollars through their bank, in spite of a direct request to the banker that we originally had 27 years ago, they have given me an ultimatum to find another place to lend me money because they are severing our relationship with the statement, "Unfortunately there is nothing I can do." I would not recommend this bank to anyone and find another bank that is willing to work with you instead of finding ways to make your life miserable. Thanks for NOTHING Anchor bank. Screw all the bankers and attorneys!

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The Anchor Bank branch in Wayzata attepmted to facilitate the purchase of a house on short sale for us. The sale was approved by all partied involved in late Sept '09. As of the end of Jan '10 they still haven't figured out how to get the closing completed. We have been promised over 10 closing dates at this point that have been missed. Some canceled by phone the day of and some where we showed up at the title company only to find the bank didn't have the right documentation or had scheduled the closing for a different day.

On top of the closing mess Anchor Bank has also frozen the account the down payment is coming from locking up a substatial portion of our cash since last Aug. We finally had to get a lawyer to try and get on the other side of this mess.

Our lawyer has managed to straighten the mess out and pulled together everything needed by the title company to close. The last piece was the assessment on the property that had previosuly been wrong. When that finally came and our lawyer went to make a closing appoint good old Anchor Bank stepped in and said they wouldn't allow the closing to happen until they reviewd all the final paper work and it would be at least another week until they could complete it. We had to file a petition with the court to ensure we could get our closing date prior to the one Anchor Bank decided was convienient for them. Thanks for trying to delay us one more time after all these months of hell Anchor Bank! By far the most incomepetent group of people have ever dealt with.

Needless to say when this process is done we are done with Anchor Bank. We will also be filing a complaint with the Better Business Bureau when this mess is behind us.

1
★☆☆☆☆

The Anchor Bank branch in Wayzata attepmted to facilitate the purchase of a house on short sale for us. The sale was approved by all partied involved in late Sept '09. As of the end of Jan '10 they still haven't figured out how to get the closing completed. We have been promised over 10 closing dates at this point that have been missed. Some canceled by phone the day of and some where we showed up at the title company only to find the bank didn't have the right documentation or had scheduled the closing for a different day.

On top of the closing mess Anchor Bank has also frozen the account the down payment is coming from locking up a substatial portion of our cash since last Aug. We finally had to get a lawyer to try and get on the other side of this mess.

Our lawyer has managed to straighten the mess out and pulled together everything needed by the title company to close. The last piece was the assessment on the property that had previosuly been wrong. When that finally came and our lawyer went to make a closing appoint good old Anchor Bank stepped in and said they wouldn't allow the closing to happen until they reviewd all the final paper work and it would be at least another week until they could complete it. We had to file a petition with the court to ensure we could get our closing date prior to the one Anchor Bank decided was convienient for them. Thanks for trying to delay us one more time after all these months of hell Anchor Bank! By far the most incomepetent group of people have ever dealt with.

Needless to say when this process is done we are done with Anchor Bank. We will also be filing a complaint with the Better Business Bureau when this mess is behind us.

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Good transaction processing policies but poor system management, poor customer service hours (it's not the 1950s guys, come on), signficant competence problems. In the month my personal and business accounts have been open I've seen:

1. False positive on fraud detection for my business account while traveling. I was declined for a hotel stay and they have no weekend customer service.

2. They double charged for all transactions for all customers on 8/17/09

3. They set up my account with overdraft protection despite my explicit request to opt out at the time of account set up.

4. Major lag on their web site in terms of account balance status.

2
★★☆☆☆

Good transaction processing policies but poor system management, poor customer service hours (it's not the 1950s guys, come on), signficant competence problems. In the month my personal and business accounts have been open I've seen:

1. False positive on fraud detection for my business account while traveling. I was declined for a hotel stay and they have no weekend customer service.

2. They double charged for all transactions for all customers on 8/17/09

3. They set up my account with overdraft protection despite my explicit request to opt out at the time of account set up.

4. Major lag on their web site in terms of account balance status.

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I was made the trustee of a 9 year old girl who suffered a server spinal injuries via a car accident in a high profile case here in the Twin Cities. The accident happen in '06 the courts finalized the petition for me to be trustee (late 09/07) and before I got all the final documents and check from the courts the 9 year old girl past away due to her injuries (late 10/07).

I finally got the court and lawyers papers (early 11/07) and the court said I still needed to setup a trust account at a bank to then pay for funeral expenses. Then the trust would need to be shut down due to death of the beneficiary which would take about two months.

Well I have had my business account w/ Anchor bank for close to 10 years. I know my contact (Ann) on a first name basis. I showed a great deal of trust and integrity by sending her the court approved Ramsey county legal documents with all the lawyers information about me be approved as the trustee in hopes to get the account setup to start paying their funeral expense.
Ann called back after about 40 minutes and said that the people who allow trust accounts would not approve the account unless they talked to the lawyers. Well I could not understand that since I had given her all the legally stamped documents.
1. I felt my truthfulness and integrity was being called in question, and made to feel that my long standing business account backed by courts approved documents meant nothing.
2. They wanted to have me have the lawyers call them for their word that I was legit? This would have cost me another hour or so in lawyer??s fees. Plus try to get a hold of a lawyer on a Friday this would have delayed me in getting the account setup to start paying funeral expenses and providing some relief to the grief stricken family members.

So I went to US Bank who understood my reasoning and had the account setup in 20 minutes and printed several starter checks and told me to go ahead a start paying off the funeral expenses.

I'm unsure at this point if I want to continue to do business with a bank that does not value my customer loyalty and official documents from a judge in the state of Minnesota. I do not feel like Anchor bank cares that much any more about people in its community.

1
★☆☆☆☆

I was made the trustee of a 9 year old girl who suffered a server spinal injuries via a car accident in a high profile case here in the Twin Cities. The accident happen in '06 the courts finalized the petition for me to be trustee (late 09/07) and before I got all the final documents and check from the courts the 9 year old girl past away due to her injuries (late 10/07).

I finally got the court and lawyers papers (early 11/07) and the court said I still needed to setup a trust account at a bank to then pay for funeral expenses. Then the trust would need to be shut down due to death of the beneficiary which would take about two months.

Well I have had my business account w/ Anchor bank for close to 10 years. I know my contact (Ann) on a first name basis. I showed a great deal of trust and integrity by sending her the court approved Ramsey county legal documents with all the lawyers information about me be approved as the trustee in hopes to get the account setup to start paying their funeral expense.
Ann called back after about 40 minutes and said that the people who allow trust accounts would not approve the account unless they talked to the lawyers. Well I could not understand that since I had given her all the legally stamped documents.
1. I felt my truthfulness and integrity was being called in question, and made to feel that my long standing business account backed by courts approved documents meant nothing.
2. They wanted to have me have the lawyers call them for their word that I was legit? This would have cost me another hour or so in lawyer??s fees. Plus try to get a hold of a lawyer on a Friday this would have delayed me in getting the account setup to start paying funeral expenses and providing some relief to the grief stricken family members.

So I went to US Bank who understood my reasoning and had the account setup in 20 minutes and printed several starter checks and told me to go ahead a start paying off the funeral expenses.

I'm unsure at this point if I want to continue to do business with a bank that does not value my customer loyalty and official documents from a judge in the state of Minnesota. I do not feel like Anchor bank cares that much any more about people in its community.

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I have been at this local bank for many years and it is such a nice little place!When you walk in,they are gald to see you and take that extra minute to tak to you! Very happy and no problems at all! They have now moved to a new location and have a drive thru!!! It is a much bigger location and easier to park!

4
★★★★☆

I have been at this local bank for many years and it is such a nice little place!When you walk in,they are gald to see you and take that extra minute to tak to you! Very happy and no problems at all! They have now moved to a new location and have a drive thru!!! It is a much bigger location and easier to park!

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In this business oriented world there are very few banks which really believe in good customer service. This bank is one of them. Their staff is really caring and treat you with respect and seemed genuinely happy to see you when you came in. They go an extra mile to help with all of your banking needs. They send a birthday card to kids in their birthday month. They also send a gift certificate for DQ! They also serve popcorn on Fridays and doughnuts on Sat mornings. If you want friendly service then Anchor bank is the Bank for you!

PROS: Short lines at the drive through, very friendly staff
CONS:

4
★★★★☆

In this business oriented world there are very few banks which really believe in good customer service. This bank is one of them. Their staff is really caring and treat you with respect and seemed genuinely happy to see you when you came in. They go an extra mile to help with all of your banking needs. They send a birthday card to kids in their birthday month. They also send a gift certificate for DQ! They also serve popcorn on Fridays and doughnuts on Sat mornings. If you want friendly service then Anchor bank is the Bank for you!

PROS: Short lines at the drive through, very friendly staff
CONS:

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