• Report: #600802

Complaint Review: Regions Bank

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  • Submitted: Thu, May 06, 2010
  • Updated: Fri, May 07, 2010

  • Reported By: Brad127 — Ashdown Arkansas U.S.A.
Regions Bank
620 South Constitution Avenue Ashdown, Arkansas United States of America

Regions Bank Rediculous Fees, Poor Service Ashdown, Arkansas

*Consumer Comment: Robert..lets see how much "better" your suggestions are...

*Consumer Comment: A better suggestion..

*Consumer Comment: Suggestion..

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Regions is by far the worst bank I've ever had. At first it started all wrong, they took copies of my drivers license, social security card and still managed to get all my information wrong. Then upon activating my card (which took forever because I didn't know my own information, or how they put it in) it was right before thanksgiving. On the night before Thanksgiving someone tried to use my card in some other state (meerley an hour after activating it) and put my card on a one dollar hold. And of course the bank was closed the whole weekend, so I had money but no way to use it. Ruined our whole weekend. Then for two months they failed to get my information right, they promised it would all get sorted out. So they finally got it right.


Heres the good part. I try to stay on top of bank account, I work two jobs, go to college, and have a family. Sometimes I cut it close. Well just recently I went 0.83 in the red, or thats what my bank account showed me. I had made a deposit, well it convienently hit after a couple transactions. And for all you nay sayers, who say I should keep better track of my money, this is true, but I was given the gift of a nice wage. hence forth the college, sometimes we scrape by. Anyway, now I'm staring at a negative $160 for a couple transactions less than $15. But this isn't the first time, I knew I was going into the hole because I had to, I just didn't know it was going to hurt that bad.


THE BIG RIP OFF! Automatic transfers: most of my bills are automatic transfers, and I have tested this out. An automatic transfer will not post on your account until you make a deposit, then it retrodates back to the original payment date. For example I have $100 withdrawal every Monday. If I make a deposit on Monday, it will show on my account on Monday. If there is no deposit made until my direct deposit is made on Friday, that $100 will not show on my account (although its already paid) until Friday. So if i have $99.99 thursday night, according to Regions I've been in the hole since Monday and there fees will show as such. I've argued this until I've been blue in the face. The big one was when the withdrawal came out on monday, and a deposit hit that night but by some magic for about 30 secs I was in the hole enough to accumulate $140 in fees although my account never reflected it, until i called and the *glitch* was fixed. I am working on getting  a new bank, but with two direct deposits, and a bunch of automatic bills its taking time. My advice is to stay away from this bank.


This report was posted on Ripoff Report on 05/06/2010 05:44 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/Ashdown-Arkansas-71822/Regions-Bank-Rediculous-Fees-Poor-Service-Ashdown-Arkansas-600802. 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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0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Robert..lets see how much "better" your suggestions are...

AUTHOR: Ronny g - (USA)

Robert, the title of your reply is "a better suggestion". Let's see how much "better" it is...

"Yes we have Ronny telling you to opt out of overdraft protection.  Which is probably a good idea.  But let us remember in this case you WANTED them to cover the transactions.  And since this is a case where you "had to", you probably would have been upset if the bank did block you from overdrafting."


Robert, it is still about "choice" either way. Which is why I state later in my reply..and I quote myself...

"They also have overdraft coverage for the debit card if you so choose, they can not do it automatically or undisclosed any longer but i see no reason to ever overdraft with a debit card unless you like fees,,so why do it? But if you do..they now allow kind of a "float" if you will. In other words if you overspend by intent or error, but catch it in time, they allow you to make a deposit before closing of that business day, and they will not charge a fee"

So explain Robert...how is your suggestion "better"?

Roberts next profound "better" suggestion is this..

A better suggestion would be to manage your account, and in your case your spending.  How many of those transactions that you make did you "need" to?  I would be willing to bet that at least one of those transactions under $15 was not a necessity.  If you then backtracked and didn't do those transactions your OD of even $0.83 would not have happened.  The changing of the mindset of "need" vs. "want" is probably what would help you the most.  That is everytime you swipe your debit card or write a check you should automatically ask yourself "is this really needed".

Lets compare it to my "worse" suggestions..

"You need to keep track to the penny and even if this means to go without something..it will save you from the fees."

"They thrive on customer error, and customers who do not understand how these policies create the domino effect of fees"


"..so you still need to be on top of things either way. You can't expect the bank to do this for you as they are predatory and will take all they can if given the opportunity"

Hmm..seems to me I was able to give the SAME exact advice..just not in such a condesending and belittleing way. But..the SAME advice nonetherless. I guess Robert feels his advice is "better" only because it insults the victims intelligence. Nice.

Next Roberts "better" advice consists of..

"As for the Automatic Debits if you constantly run close to zero, cancel them.  This way you can submit them on YOUR schedule.  Yes it takes time, but it is YOUR money.  I can just about guarantee you that you have spent more time worrying about overdrafts, trying to prove something that is not really happening than you ever would have by just managing these automatic debits and your account in the first place."

What Robert is suggesting here..is that you are so stupid, that you won't be able to figure out how much your auto debit payments are and keep enough in your account to cover it. The problem with this logic is..that either way if you don't have enough money..you will be late with your payments and get a fee on the other end. This suggestion does not get to the core of the problem..it is just moving it somewhere else. Much "better" suggestion there Robert.

"If you are worried about not remembering then get some home accounting software where you can enter in reminders as well as able to keep a register.  You can find some pretty good ones for under $50, and for a personal account they work just fine.  Then the first time they save you 1 or 2 overdraft fees it has paid for itself."

Or...instead of wasting money on software..when all you really need to manage is one or two auto pays...why not change to a bank that has better policies to protect you from error, and opt out of OD coverage on the debit card as a backup measure? Problem solved. No more OD fees possible.

"Then of course we have Ronny promoting the bank he thinks is the greatest thing in the world and can do no wrong.  After all they are giving away $100 if you open an account with them, and he is recomending his friends to them."

Why do you have a problem with that? Have I stated ONE single untrue statement about Chases new policies? Do you really feel their policies are not "better" for a debit card user like this? What "Better" suggestion have you been "promoting"?

"While they are changing some of their terms, so are other banks.  But he again leaves out some little things.  In this case he is promoting their "free checking".  Well it is free only in certain cases.  For the basic account, if you don't have Direct Deposit(and not all people do) or don't use your Debit Card at least 5 times a month you get charged a monthly fee of $6.  In fact if you read a few reports on them you will find that this was quite a shock to some people that their "free" checking all of the sudden had a service fee.  Now that was in their terms, which is again why it is important to always read them.  But just in case you miss it hopefully this keeps people from being "mis-informed".

The "little" thing Robert is leaving out..is that when you sign up for Chase now...they don't just hand you a terms booklet with 6000 pages of tiny writing , legal terms and federal rules. They hand you a nice big single page, that CLEARLY explains all these policies so you can read it all on the spot, understand it without needing a contract attorney, and sign if you agree. You don't need myself or Robert to tell you this here..the bank is supposed to do that. 


"So if you do switch banks, you need to read and understand ALL of their terms before you open the account.  If the bank you go to does not meet your needs then continue looking until you find one."

Wow..who would have figured that? The difference between this "better" suggestion, and my "worse" suggestion, is I actually suggested the ONLY major bank I know of, that actually has "better" policies for this type of consumer right now.

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#2 Consumer Comment

A better suggestion..

AUTHOR: Robert - (U.S.A.)

Even when the OP admits that they went into overdraft INTENTIONALLY we have one of our favorite people still tell them why the bank is still wrong..again just amazing.

I knew I was going into the hole because I had to, I just didn't know it was going to hurt that bad.

- Oh really and just how did you would be allowed to go "into the hole"?  Did the thought that the bank would let you spend more money than you had and cover your overdraft just magically pop into your head?  Or by chance did you actually read in your terms that says they will do this.  If you happen to have read that section just how did you miss the part that says how they post transactions?

Yes we have Ronny telling you to opt out of overdraft protection.  Which is probably a good idea.  But let us remember in this case you WANTED them to cover the transactions.  And since this is a case where you "had to", you probably would have been upset if the bank did block you from overdrafting.

A better suggestion would be to manage your account, and in your case your spending.  How many of those transactions that you make did you "need" to?  I would be willing to bet that at least one of those transactions under $15 was not a necessity.  If you then backtracked and didn't do those transactions your OD of even $0.83 would not have happened.  The changing of the mindset of "need" vs. "want" is probably what would help you the most.  That is everytime you swipe your debit card or write a check you should automatically ask yourself "is this really needed".

As for the Automatic Debits if you constantly run close to zero, cancel them.  This way you can submit them on YOUR schedule.  Yes it takes time, but it is YOUR money.  I can just about guarantee you that you have spent more time worrying about overdrafts, trying to prove something that is not really happening than you ever would have by just managing these automatic debits and your account in the first place.

If you are worried about not remembering then get some home accounting software where you can enter in reminders as well as able to keep a register.  You can find some pretty good ones for under $50, and for a personal account they work just fine.  Then the first time they save you 1 or 2 overdraft fees it has paid for itself.

Then of course we have Ronny promoting the bank he thinks is the greatest thing in the world and can do no wrong.  After all they are giving away $100 if you open an account with them, and he is recomending his friends to them.

While they are changing some of their terms, so are other banks.  But he again leaves out some little things.  In this case he is promoting their "free checking".  Well it is free only in certain cases.  For the basic account, if you don't have Direct Deposit(and not all people do) or don't use your Debit Card at least 5 times a month you get charged a monthly fee of $6.  In fact if you read a few reports on them you will find that this was quite a shock to some people that their "free" checking all of the sudden had a service fee.  Now that was in their terms, which is again why it is important to always read them.  But just in case you miss it hopefully this keeps people from being "mis-informed". 

So if you do switch banks, you need to read and understand ALL of their terms before you open the account.  If the bank you go to does not meet your needs then continue looking until you find one.

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#3 Consumer Comment

Suggestion..

AUTHOR: Ronny g - (USA)

First off..some may reply to this report and bash you for overspending..even by a penny. Now granted..you did go over, and were expecting a fee.  You live like many these days and other students who cut it close. You are playing russian roulette by doing this. You need to keep track to the penny and even if this means to go without something..it will save you from the fees.

That said, it doesn't excuse any bank polices or manipulations that compounded and maximized fees, it is a dirty trick and many banks are defendants in lawsuits due to this. They thrive on customer error, and customers who do not understand how these policies create the domino effect of fees. There are also some law changes going into effect due to all the complaints.

I have nothing to lose or gain by giving you this advice, but I joined Chase bank because they have made a few policy changes that are more fair to the debit card users.

one is, they will no longer re-sequence the events of transactions..they are posted as they come in..less confusion if you use the online statements, and no chance of ever having to pay a fee on any transaction that did have the funds at the time.

Two, they will give you a contract and request if you would like to be enrolled in overdraft coverage on the debit card or not. Just decline it..and if the account is overdrawn lets say because an autopay came in early or you messed up and overlooked it..at least the card will be declined and you will avoid that fee. Also..if there are funds in the account but a debit card point of sale or ATM transaction will bring it into overdraft..it will be declined..and no fee. They also have overdraft coverage for the debit card if you so choose, they can not do it automatically or undisclosed any longer but i see no reason to ever overdraft with a debit card unless you like fees,,so why do it? But if you do..they now allow kind of a "float" if you will. In other words if you overspend by intent or error, but catch it in time, they allow you to make a deposit before closing of that business day, and they will not charge a fee. If you go over by 5 dollars max, they will forgive it so no more 140 fee for going over by 82 cents. They limit the number of fees they can charge to 3 a day max.

My friend just joined also because I recommended it, and they gave her $100.00 for using direct deposit. The other day she got a text letting her know there was only 20 bucks in the account. Even though she chose not to have overdraft coverage on the card..it was a nice gesture. This is totally free checking BTW, they don't even charge for the checks..very customer friendly for many who keep a low balance and use the debit card a lot.

Bear in mind...autopay and check transactions fall under ACH and the regulations are different. Those kind of transactions are more of a commitment like cash, and if the account can not cover it, you will be NSF..meaning the bank may choose to cover it and charge a fee, or not cover it and charge a fee..and you bounced a payment. Not good, so you still need to be on top of things either way. You can't expect the bank to do this for you as they are predatory and will take all they can if given the opportunity..


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