Grades are also broken down by the financial products offered be each institution. FirstMerit Bank is rated "A-" in Mortgages, "B" in Credit Cards, "C" in Bank Account Services, and "A" in Consumer Loans. Click on any of the financial products to see how FirstMerit Bank compares.
FirstMerit Bank has received 186 consumer complaints since December, 2011 – more than 95% of other banks.
Of those complaints, 99.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' FirstMerit Bank meets the 60-day response deadline more frequently than 57.9% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 21.5% of customers dispute FirstMerit Bank's response to complaints — worse than 64.5% of other companies.
Most of FirstMerit Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."
FirstMerit Bank is primarily a commercial bank with a commercial lending specialization. FirstMerit Bank is based in Akron, Ohio and is the 41st largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, FirstMerit Bank receives far more complaints than most other banks. FirstMerit Bank recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Bank account or service||Checking account||Account opening, closing, or management||35|
|2||Bank account or service||Checking account||Problems caused by my funds being low||27|
|3||Bank account or service||Checking account||Deposits and withdrawals||26|
|4||Mortgage||Other mortgage||Loan modification,collection,foreclosure||13|
|5||Bank account or service||Other bank product/service||Account opening, closing, or management||11|
|6||Mortgage||Other mortgage||Loan servicing, payments, escrow account||11|
|7||Bank account or service||Checking account||Using a debit or ATM card||8|
|8||Consumer loan||Vehicle loan||Managing the loan or lease||8|
|9||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||7|
|10||Mortgage||Home equity loan or line of credit||Loan modification,collection,foreclosure||6|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||163||162 (99.4%)||42 (25.8%)|
|2||Closed with monetary relief||35||35 (100%)||4 (11.4%)|
|3||Closed||5||5 (100%)||1 (20%)|
|4||Closed without relief||4||4 (100%)||1 (25%)|
|5||Closed with relief||4||4 (100%)||0 (0%)|
|6||In progress||3||3 (100%)||0 (0%)|
|7||Closed with non-monetary relief||1||1 (100%)||0 (0%)|