Grades are also broken down by the financial products offered be each institution. Investors Bank is rated "A" in Mortgages, and "C+" in Bank Account Services. Click on any of the financial products to see how Investors Bank compares.
Investors Bank has received 32 consumer complaints since February, 2012 – more than 82% of other banks.
Of those complaints, 93.8% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Investors Bank meets the 60-day response deadline less frequently than 72.1% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.8% of customers dispute Investors Bank's response to complaints — worse than 50.6% of other companies.
Most of Investors Bank's customers complain about bank account or services with the primary issue being "deposits and withdrawals."
Investors Bank is primarily a savings institution with a commercial lending specialization. Investors Bank is based in Short Hills, New Jersey and is the 56th 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, Investors Bank receives far more complaints than most other banks. Investors Bank recieves more complaints per customer than 97% 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||Deposits and withdrawals||6|
|2||Mortgage||Other mortgage||Loan servicing, payments, escrow account||5|
|3||Mortgage||Other mortgage||Loan modification,collection,foreclosure||5|
|4||Bank account or service||Checking account||Account opening, closing, or management||4|
|5||Bank account or service||Checking account||Problems caused by my funds being low||4|
|6||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||3|
|7||Bank account or service||Checking account||Using a debit or ATM card||2|
|8||Bank account or service||Other bank product/service||Account opening, closing, or management||2|
|9||Mortgage||Home equity loan or line of credit||Credit decision / Underwriting||1|
|10||Bank account or service||Checking account||Making/receiving payments, sending money||1|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||31||30 (96.8%)||7 (22.6%)|
|2||Closed with monetary relief||5||4 (80%)||0 (0%)|
|3||Closed with non-monetary relief||4||4 (100%)||1 (25%)|