Silicon Valley Bank Reviews 12

SVB had great support before they were acquired. After the acquisition, some risk egotist claimed that my food tech business (which competes with DoorDash, etc) is a money transfer business, like a bank, and required extensive and expensive compliance requirements that they as a bank already need to have in place (since they are indeed transactional businesses). He asked me to get a legal opinion, I did and they agreed with me, but the bank is discontinuing my account anyway. I offered to have a conversation with their lawyers because there must be some miscommunication going on -- My company is nothing like a transactional money transfer business, and DoorDash is not regulated as one either and they're much closer than I am to one. They don't listen to the customer, they don't give a chance to explain. Now its going to cost me $60K to transfer this functionality to another provider, and SVB doesn't want to compensate me for their decision.

Wow, I'm so glad I came to Trustpilot and read all of the reviews here before applying for a startup card with SVB. Thank you to all of those who posted a review. I now know who NOT to do business with if I want mine to be successful.

I asked a general question around why the systems were down so that I could figure out how to move forward on my side with reconciliations and the woman on the phone was extremely rude, snippy, and unhelpful. It was shocking really.

Changing my company name with the state took me 2 days but changing it in my SVB account is taking an eternity. Granted, I'm a disgruntled customer but I've dealt with three different agents but the name change is still pending after a month!

Suggestion to the SVB management: Put customer-friendly people into customer-facing positions. And make sure the customers are able to provide feedback after each call with an agent.

I had trouble withdrawing my deposit during the recent bank run. While I understand that this was an unusual situation, it was still frustrating to experience delays and uncertainty around my funds. It would have been helpful if the bank had communicated more clearly and proactively about what was happening.

Their customer service is virtually non existant. I have 5 things that need addressing. Emails are rarely answered and there is no follow through, just "I will inform the team" but nothing happens. Even one of their VPs did not follow through and did not care. The branch in Seattle has a main number that connects to nobody. This has been going on for two weeks.

I had a great experience so far. Support can be reached real fast.

Negative -10 is a more appropriate review! Worst customer service I have ever dealt with! The old lady answering phone talks over you so you cannot even get out what you want to say! When the phone call ended I felt I had called a bank that is completely fraudulent! Customer service was completely unhelpful!

I am with SVB via my company as we got a business account there. Their customer service is super fast and friendly (always answered within 24 hrs, sending along needed forms to be filled & signed as well).

Applying for the PPP back in April was a bit of a nightmare, but I guess it's hardly their fault ;)

Call them to get my card unblocked and they just play ads down the phone disguised as "special offers".

"Just for calling in today, you are eligible to save money on blah blah blah". Need to listen to the ads to speak to somebody to undo their mistake. Pathetic.

SVB is the worst bank to do business with. It took them so long to open a bank account for our startup and I had to constantly follow up for updates. Since I have an Iranian background (I am British Iranian), they asked so many questions about my travel plans and asked me to write a letter confirming that I am not located in Iran; I do not intend on re-locating back to Iran; and I will not engage in business if and when travelling to Iran. The whole process was quite racist and made me feel like a criminal.

3 months after they opened the account, I received a call from SVB and found out that we were involved with an identity theft incident and someone purchased an item of jewellery for £6,600 from our account. SVB simply rejected our fraud claim and closed down our account.

Your closed our account for no reason, a day after Stripe closed our account (which was clearly related).

You have zero ethics or care for your customer. Stripe did us in and then you did. We held considerable amount of money in the account and managed it properly, so you had no valid reason to do so.

Hopefully you won't be around for long.