• Report: #1083905

Complaint Review: Centennial Bank of Conway, Arkansas

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  • Submitted: Thu, September 12, 2013
  • Updated: Thu, September 12, 2013

  • Reported By: T. H. — Tallahassee Florida
Centennial Bank of Conway, Arkansas
Conway , Arkansas USA

Centennial Bank of Conway, Arkansas aka Centennial Bancorp, Home BancShares, Inc. and Liberty Bancshares, Inc. Fee Grabbing, Replacing Policies Conway Arkansas

*Author of original report: Start the Investigation of Centennial Then

*General Comment: Once again....

*Consumer Comment: The Cause Is VERY Obvious

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The bank I'd used for years in Tallahassee, FL was bought out this year (2013) by a bank called Centennial Bank out of Conway, Arkansas.  Immediately, our free checking account began having a $10 new bank fee taken out every month.  The ATM where we always had free checking withdrawals began charging $2 for each transaction.  Yesterday and today, I have learned that the local branch managers have no power to refund more than ONE overdraft fee according to the new Centennial policies.

What happens is whenever you make a deposit or debit card purchase, the bank can delay it to their benefit, so the bank taps into your overdraft "protection" (really a fee grabbing mechanism for Centennial Bank and BOA types) Multiple Times by manipulating the timing on what cleared and what they hold back.  

Centennial is manipulating my overdraft into SEVEN (7) overdraft fees at $30 each. [continued below]....

.....  The policies Centennial Bank implemented upon takeover are the same as another nasty bank (BOA), who "Snowball" fee grabbing as a way to feed corporate greed.  Their "customer care center" is a call center that just writes down messages.  Centennial Bank of Conway, Arkansas is a VERY BAD BANK.  Avoid, Avoid, Avoid!!!  If they take your bank over, get out before they grab your money.  Be ProActive on removing bad policies in banking and government regulations.

This report was posted on Ripoff Report on 09/12/2013 08:39 AM and is a permanent record located here: http://www.ripoffreport.com/r/Centennial-Bank-of-Conway-Arkansas/Conway-Arkansas/Centennial-Bank-of-Conway-Arkansas-aka-Centennial-Bancorp-Home-BancShares-Inc-and-Lib-1083905. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Author of original report

Start the Investigation of Centennial Then

AUTHOR: T. Hix - ()

You assume that banks follow the letter of the law.  You assume wrong.  I know what cleared and I know when it cleared and when it was presented and when the bank acknowledged it.  

I am not a conspiracy theorist.  You are a greedy person tho.  How dare you take up for a big fat institution that manipulates the numbers at will, legal or not.  Are you so bought and paid for that you take up for illegal banking practices?  Really?  

Nice for your reputation.  Getting the same reputation as BOA.  

A lot of people helped with the bad banking practices that revealed today and I am very grateful.  Someone has to speak out, otherwise, you'll just keep saying you're lily white innocent (who has my money now?) and try to paint me as delusional.  Shame on you big bad boys.  Behave and care for others or lose what you came into the world with.  (your self respect)

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#2 General Comment

Once again....

AUTHOR: Tyg - ()

 Once again the consumer is incorrect in thier assumptions. It is illegal for ANY bank to reorder thier incoming transactions. There was a massive lawsuit last year so every bank is on the watch for those behavours. You maybe confusing the WHEN a transaction is presented to the bank. See sometimes when you swipe your card, it only verifies that there is a active and open account. Once that confermation is recieved then your purchase is concluded, for you. That purchase request doesnt IMMEDIATLY leave and hit your bank.

I know from my own experiences that some businesses only do debit requests once a week. I had purchased a few meals from Dennys, come to find out that they dont immediatly submit debit transactions. SO a few meals at Dennys ended up costing me over $500 in over draft fees. They put through ALL of my transactions for a week at once. SO I know it happends. If you dont believe me go ask both your bank and the ppl you do business with.

SOmetimes its a daily send sometimes once every 72hrs. Its all up to the business and the company that they use to process card transactions. Theres a lot of businesses that your debit request has to go through before it hits your bank. That can hold up a transaction as well. And lets not even get into the $100+ hold your bank puts on your funds if you swipe your card at the gas pump. As for the fees you have to pay. New owner, New rules. You have the option of removing your money from that bank at any time.

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#3 Consumer Comment

The Cause Is VERY Obvious

AUTHOR: Jim - ()

Sorry, there's no grand conspiracy to "get" you.  YOU generate the overdraft fees because YOU don't keep a written record of YOUR card usage and because YOU don't keep a running balance.  It is YOU who continues to use the card without YOU knowing how much money YOU have in YOUR account. 

No, I don't work for them!

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