Grades are also broken down by the financial products offered be each institution. Webster Bank is rated "A-" in Mortgages, and "C+" in Bank Account Services. Click on any of the financial products to see how Webster Bank compares.
Webster Bank has received 119 consumer complaints since February, 2012 – more than 93% of other banks.
Of those complaints, 99.2% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Webster Bank meets the 60-day response deadline more frequently than 55% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.5% of customers dispute Webster Bank's response to complaints — better than 50.1% of other companies.
Most of Webster Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."
Webster Bank is primarily a commercial bank with a commercial lending specialization. Webster Bank is based in Waterbury, Connecticut and is the 47th 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, Webster Bank receives far more complaints than most other banks. Webster 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||24|
|2||Bank account or service||Checking account||Deposits and withdrawals||22|
|3||Bank account or service||Checking account||Problems caused by my funds being low||18|
|4||Bank account or service||Other bank product/service||Account opening, closing, or management||13|
|5||Bank account or service||Savings account||Account opening, closing, or management||10|
|6||Mortgage||Other mortgage||Loan modification,collection,foreclosure||9|
|7||Mortgage||Conventional fixed mortgage||Loan servicing, payments, escrow account||8|
|8||Mortgage||Other mortgage||Loan servicing, payments, escrow account||4|
|9||Bank account or service||Checking account||Making/receiving payments, sending money||4|
|10||Bank account or service||Savings account||Deposits and withdrawals||3|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||105||104 (99%)||25 (23.8%)|
|2||Closed with monetary relief||31||31 (100%)||2 (6.5%)|
|3||Closed without relief||8||8 (100%)||2 (25%)|
|4||Closed with relief||3||3 (100%)||0 (0%)|
|5||Closed with non-monetary relief||2||2 (100%)||0 (0%)|
|6||In progress||1||1 (100%)||0 (0%)|