Grades are also broken down by the financial products offered be each institution. People's United Bank is rated "A-" in Mortgages, and "C" in Bank Account Services. Click on any of the financial products to see how People's United Bank compares.
People's United Bank has received 180 consumer complaints since March, 2012 – more than 94% of other banks.
Of those complaints, 96.1% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' People's United Bank meets the 60-day response deadline less frequently than 64.9% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 17.8% of customers dispute People's United Bank's response to complaints — better than 54.7% of other companies.
Most of People's United Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."
People's United Bank is primarily a savings institution with a commercial lending specialization. People's United Bank is based in Bridgeport, Connecticut and is the 35th 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, People's United Bank receives far more complaints than most other banks. People's United 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||Account opening, closing, or management||43|
|2||Bank account or service||Checking account||Deposits and withdrawals||30|
|3||Bank account or service||Checking account||Problems caused by my funds being low||27|
|4||Bank account or service||(CD) Certificate of deposit||Account opening, closing, or management||10|
|5||Bank account or service||Checking account||Making/receiving payments, sending money||9|
|6||Mortgage||Other mortgage||Loan modification,collection,foreclosure||7|
|7||Bank account or service||Other bank product/service||Account opening, closing, or management||6|
|8||Mortgage||Other mortgage||Loan servicing, payments, escrow account||6|
|9||Bank account or service||Checking account||Using a debit or ATM card||5|
|10||Mortgage||Other mortgage||Application, originator, mortgage broker||5|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||157||153 (97.5%)||34 (21.7%)|
|2||Closed with monetary relief||19||19 (100%)||4 (21.1%)|
|3||Closed||9||7 (77.8%)||2 (22.2%)|
|4||Closed with relief||7||7 (100%)||0 (0%)|
|5||Closed with non-monetary relief||4||4 (100%)||0 (0%)|
|6||Closed without relief||3||3 (100%)||0 (0%)|
|7||Untimely response||1||0 (0%)||0 (0%)|