- Report: #821763
Report - Rebuttal - Arbitrate
Complaint Review: Regions Bank
Regions Bank1900 Fifth Avenue North Birmingham, Alabama United States of America
Regions Bank Regions Financial Corporation Regions Manipulated Transaction Order to Trigger $216 in Overdraft Fees Birmingham, Alabama
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Now, I'm not arguing that they should order the transactions from least to most; clearly, the most honest and fair practice would be to simply maintain the original order of the transactions. This business of rearranging the order of purchases to intentionally trigger a series of fees should be illegal. It is clearly a predatory practice.
I spoke with customer service and was advised that a fee will be charged when you use your debit card without the funds to cover the purchase. Well, yes, that's obvious enough. The problem is that I did have the funds to cover almost all of the purchases...if the bank had cleared them in the order they posted, rather than in the order they chose. I spoke with someone in management who was equally condescending and unyielding.
Mind you, my account is generally in good standing, and I've been a customer for almost fifteen years. I do not habitually overdraw my account; it's a very rare issue. I would be okay with having been charged one fee, but six is ridiculous. Unless the bank reverses this decision and refunds my money, I will close my account and go to a credit union. Bank of America just settled a $400 million dollar class-action lawsuit over this very issue, and countless other banks are currently under investigation for the same.
It's time to expect more, Regions. I expect more.
This report was posted on Ripoff Report on 01/12/2012 12:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/Birmingham-Alabama-35203/Regions-Bank-Regions-Financial-Corporation-Regions-Manipulated-Transaction-Order-to-Trigge-821763. 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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