Beware of regions bank and their overdraft scams. Over many years I have been hit with outrageous overdraft fees. Only recently I have discovered regions extremely well documented tactics used to push my accounts into overdraft. All the while I was being told the mistake was mine by regions customer service.
I discovered what was going on by setting up an overdraft and seeing transactions reordered to to maximize the damage. Transactions that were paid and accounted for the previous day where charged as overdraft. A check that was drafted on my account 3 weeks prior finally registered only when it would overdraft. Checks that would normally post at midnight would post midday to cause overdrafts. Deposits that should cover any transaction are inexplicably held or simply don't with bogus reasons given.
There are other examples. Suffice it to say regions bank has definitely violated the public trust.
About midnight July 31, 2014 I was checking my Regions account on line. I had a balance of about $18.00, with three transactions already approved and paid 24 or so hours earlier. At midnight, two pension payments were added to my acount, about $900.00. sometime between midnight and 8 AM on August 1, they processed a $20.00 check, and bounced it.
They then took the $4.40 ebay payment made 24 hours earlier, and moved the money to cover the check they just bounced, then bounced the ebay payment, which was already approved and paid! Each transaction cost me $36.00 For the $3.00 shortfall which they claim, they charged me 2400% interest! Now, to make matters worse, on Tuesday, the 5th, I had about $560 in my accoount, and three payments being processed, 1 for $70.00, 1 or $100.00 and 1 for $390.00.
They chose to bounce all three, but evntually only charged for 1, another $36.00 because I fell about $10.00 short! This interest amounts to 360%! In a matter of 5 days, they steal $108.00 from me! The initial $72.00 I could have used to buy my desperately needed asthma medication, which I have been out of for 10 to 12 days now!
Needless to say, I am not doing very well at all. Regions claims the check was processed earlier in the evening of July 31. If this is so, why did it take them until nearly 8 AM the followiing morning (Aug 1) to post it on line? This is a phony, lying smoke screen, because any electronic transaction is posted immediately. I have never seen any of my transactions not posted within seconds of them occurring.
Regions stole from me again, pure and simple! They scammed me, they cheated me, they used highly immoral, unscrupulous sleight of hand accounting to steal and rob me. These people make Bernie Madoff look like a Sunday School child! They must have studied the book, " A Million and One Ways To Steal From Customers" by Madoff!
Their business practices are unethical, and should be illegal, if they aren't already. They have no shame. I would like to see a complete accounting of my account since Regions took over AMSouth several years ago. They have a very bad habit of taking a large payment and processing it first, using all the funds in one's account, then processing all the smaller ones that would have and shoul,d have been paid first sothey would not bounce! Say, you have $100, with outstanding and pending transactions of $101.00, $10.00, $20.00, $30.00, they will deliberately bounce the first by using the entire $100 balance to cove much of it, then deliberately bounce the 3 smaller payments, and then charge the customer $36.00 per failed transaction.
They have done this to me for years and years. There is regular accounting, then there is Regions devious accounting. This company muct be stopped from doing business in this manner. It is wrong, it is illegal, it is theft, stealing, embezzlement, what ever one chooses to label it.
I have contacted Regions Bank 10 times in the attempt to close an old bank account they have promised to send me the $1161.98 that is in the old savings account on 5 occasions stating that it takes 5-7 business days. upon the 3rd attempt they told me that I needed to send them a notarized letter and copy of my drivers license which I did and then waited. nothing after 2 weeks. I then called and again and they said they had what they needed and would release the cashiers check and I waited for 2 more weeks, nothing, I called again and they told me that they needed another copy of my drivers license because they couldn't read it, and I did, this time I asked for them to call em and verify it was received, no returned call so I called again and got the run around again and then was transferred to a person how said they couldn't read my drivers license so please send it again. It has been over 2 months that I have been trying to close this account and it appears they have no desire to accommodate me and provide me my money. I feel that I have no other option at this point but to file this compliant!!!
I've been banking with regions for a little over a year. I've encountered a couple issues that are making me rethink banking with Regions. The first issue was an overdraft fee. I incurred an overdraft fee even though I opted out of overdraft protection. When I incurred the fee I called Regions to dispute the matter. I clearly explained that the fee was in violation of the federal law, which prohibits an overdraft fee when the customer has not opted for overdraft protection. I was given a runaround response that it was legal because it was an ACH debit instead of a check. I responded that if it was so legal then there would be no issue with me filing a complaint with the FDIC as well as a possible small claims suit against Regions. After making this threat, then, and only then did the attitude change from them being in the right to them "making a one time exception" to the fee.
The fact of the matter is that even though the representative would not admit to any wrongdoing I knew better. I knew that they did not have the legal right to charge an overdraft fee when I opted out of overdraft protection. What should have occurred was when their system received the request for an ACH debit it should have denied the request. Very simple. Instead, they chose to accept and process the request. Then illegally charge me a $35 overdraft fee. I wonder how many Regions customers have been ripped off in this manner.
The next issue was when my father wanted to borrow money from me. I wrote him a check for $100. The next day I went pick him up at work. He wanted to cash his check. Since it was on his lunch break I told him we could go by my bank instead of his since mine was closer. He came out the bank and told me he was charged a fee to cash the check. I was shocked, to say the least. Regions rips off customers by charging them a fee to cash a check issued by their own account holders. If a bank wants to charge non-account holders to cash a check that's not issued by their customer then that's their choice. But to charge a non-account holder a fee to cash a check issued through their own bank is a complete ripoff. A clear example of banks finding more ways to rip off people and make more money.
Since then I've started to look for another bank. Banks that are not greedy and are ethical are becoming more and more difficult to find.
I was fraudulently told mis-information by Regions banking customer service, numerous times over a number of days. The CS people will not admit to the truth of their actions and statements. The bank purposely ignored my payments and intent on resolving an issue. Then proceeded to arbitrarily debit my account for amounts not due and falsely accumulate $154.00 in NSF fees. Instead of having my right balance of $104.00, my account is debited for over $400.00. This is fraud and malfeasance of the greatest magnatude. I have filed complaints with the CFPB, Comptroller of the Currency-U.S. Treasury, and the Federal Reserve. Banksters.
Regions Financial Corporation Reviews
Beware of regions bank and their overdraft scams. Over many years I have been hit with outrageous overdraft fees. Only recently I have discovered regions extremely well documented tactics used to push my accounts into overdraft. All the while I was being told the mistake was mine by regions customer service.
I discovered what was going on by setting up an overdraft and seeing transactions reordered to to maximize the damage. Transactions that were paid and accounted for the previous day where charged as overdraft. A check that was drafted on my account 3 weeks prior finally registered only when it would overdraft. Checks that would normally post at midnight would post midday to cause overdrafts. Deposits that should cover any transaction are inexplicably held or simply don't with bogus reasons given.
There are other examples. Suffice it to say regions bank has definitely violated the public trust.
DO NOT BANK AT REGIONS.
About midnight July 31, 2014 I was checking my Regions account on line. I had a balance of about $18.00, with three transactions already approved and paid 24 or so hours earlier. At midnight, two pension payments were added to my acount, about $900.00. sometime between midnight and 8 AM on August 1, they processed a $20.00 check, and bounced it.
They then took the $4.40 ebay payment made 24 hours earlier, and moved the money to cover the check they just bounced, then bounced the ebay payment, which was already approved and paid! Each transaction cost me $36.00 For the $3.00 shortfall which they claim, they charged me 2400% interest! Now, to make matters worse, on Tuesday, the 5th, I had about $560 in my accoount, and three payments being processed, 1 for $70.00, 1 or $100.00 and 1 for $390.00.
They chose to bounce all three, but evntually only charged for 1, another $36.00 because I fell about $10.00 short! This interest amounts to 360%! In a matter of 5 days, they steal $108.00 from me! The initial $72.00 I could have used to buy my desperately needed asthma medication, which I have been out of for 10 to 12 days now!
Needless to say, I am not doing very well at all. Regions claims the check was processed earlier in the evening of July 31. If this is so, why did it take them until nearly 8 AM the followiing morning (Aug 1) to post it on line? This is a phony, lying smoke screen, because any electronic transaction is posted immediately. I have never seen any of my transactions not posted within seconds of them occurring.
Regions stole from me again, pure and simple! They scammed me, they cheated me, they used highly immoral, unscrupulous sleight of hand accounting to steal and rob me. These people make Bernie Madoff look like a Sunday School child! They must have studied the book, " A Million and One Ways To Steal From Customers" by Madoff!
Their business practices are unethical, and should be illegal, if they aren't already. They have no shame. I would like to see a complete accounting of my account since Regions took over AMSouth several years ago. They have a very bad habit of taking a large payment and processing it first, using all the funds in one's account, then processing all the smaller ones that would have and shoul,d have been paid first sothey would not bounce! Say, you have $100, with outstanding and pending transactions of $101.00, $10.00, $20.00, $30.00, they will deliberately bounce the first by using the entire $100 balance to cove much of it, then deliberately bounce the 3 smaller payments, and then charge the customer $36.00 per failed transaction.
They have done this to me for years and years. There is regular accounting, then there is Regions devious accounting. This company muct be stopped from doing business in this manner. It is wrong, it is illegal, it is theft, stealing, embezzlement, what ever one chooses to label it.
I have contacted Regions Bank 10 times in the attempt to close an old bank account they have promised to send me the $1161.98 that is in the old savings account on 5 occasions stating that it takes 5-7 business days. upon the 3rd attempt they told me that I needed to send them a notarized letter and copy of my drivers license which I did and then waited. nothing after 2 weeks. I then called and again and they said they had what they needed and would release the cashiers check and I waited for 2 more weeks, nothing, I called again and they told me that they needed another copy of my drivers license because they couldn't read it, and I did, this time I asked for them to call em and verify it was received, no returned call so I called again and got the run around again and then was transferred to a person how said they couldn't read my drivers license so please send it again. It has been over 2 months that I have been trying to close this account and it appears they have no desire to accommodate me and provide me my money. I feel that I have no other option at this point but to file this compliant!!!
I've been banking with regions for a little over a year. I've encountered a couple issues that are making me rethink banking with Regions. The first issue was an overdraft fee. I incurred an overdraft fee even though I opted out of overdraft protection. When I incurred the fee I called Regions to dispute the matter. I clearly explained that the fee was in violation of the federal law, which prohibits an overdraft fee when the customer has not opted for overdraft protection. I was given a runaround response that it was legal because it was an ACH debit instead of a check. I responded that if it was so legal then there would be no issue with me filing a complaint with the FDIC as well as a possible small claims suit against Regions. After making this threat, then, and only then did the attitude change from them being in the right to them "making a one time exception" to the fee.
The fact of the matter is that even though the representative would not admit to any wrongdoing I knew better. I knew that they did not have the legal right to charge an overdraft fee when I opted out of overdraft protection. What should have occurred was when their system received the request for an ACH debit it should have denied the request. Very simple. Instead, they chose to accept and process the request. Then illegally charge me a $35 overdraft fee. I wonder how many Regions customers have been ripped off in this manner.
The next issue was when my father wanted to borrow money from me. I wrote him a check for $100. The next day I went pick him up at work. He wanted to cash his check. Since it was on his lunch break I told him we could go by my bank instead of his since mine was closer. He came out the bank and told me he was charged a fee to cash the check. I was shocked, to say the least. Regions rips off customers by charging them a fee to cash a check issued by their own account holders. If a bank wants to charge non-account holders to cash a check that's not issued by their customer then that's their choice. But to charge a non-account holder a fee to cash a check issued through their own bank is a complete ripoff. A clear example of banks finding more ways to rip off people and make more money.
Since then I've started to look for another bank. Banks that are not greedy and are ethical are becoming more and more difficult to find.
I was fraudulently told mis-information by Regions banking customer service, numerous times over a number of days. The CS people will not admit to the truth of their actions and statements. The bank purposely ignored my payments and intent on resolving an issue. Then proceeded to arbitrarily debit my account for amounts not due and falsely accumulate $154.00 in NSF fees. Instead of having my right balance of $104.00, my account is debited for over $400.00. This is fraud and malfeasance of the greatest magnatude. I have filed complaints with the CFPB, Comptroller of the Currency-U.S. Treasury, and the Federal Reserve. Banksters.
When did a community bank become a Member's Only Club
I went to a local bank for change......change people
I requested a roll of Quarters for my $10 Bill and 5 $20's for change for a $100 Bill
And was refused because I did not have an account, and when I asked in total disbelief,
that this was a bank Correct? another teller spoke up and said all banks do that now unless
you have an account, which is a lie.
Any financial institution that will not give you change is the most stupid, idiotic, thing I have ever heard
of, I can understand check cashing and so forth to an extent, But Change.......Really
So I had to drive 5 miles to my bank First Tennessee to get a roll of quarters and change for my measley hundred
dollar bill......stay away from Regions Everybody, you will be made to feel like a fool and look like one too when you
show your butt about it,,, beacuse that's exactly what I did.