• Report: #427278

Complaint Review: Regions Bank

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  • Submitted: Sun, February 22, 2009
  • Updated: Sun, May 23, 2010

  • Reported By:miami Florida
Regions Bank
Ft. Lauderdale, Florida U.S.A.
  • Phone: 800-regions
  • Web:
  • Category: Banks

Regions Bank This Bank Is Designed to Overdraft Acct: It fixes so the fees are More Ft. Lauderdale Florida

*Consumer Comment: REGIONS BANK is a RIP OFF & not customer friendly!

*Consumer Suggestion: Unavailable funds fees....

*Consumer Comment: Not possible..

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This is to warn anyone who is thinking about using this bank...your money will not work for you it will be used to pay fees like you have never seen before! I am not the only victim, I have talked with others who are encountering the same experience. This bank designs its policies to rip you off royally with overdraft fees. I have had other bank accounts in the past and NEVER have I had an issue like I have with this bank.

First and foremost, it automatically overdraw your account even on weekends which if you should make a deposit during this time or call the bank is closed. I have had overdraft fees in the hundreds and when I look at my statement, all the funds clear the bank and never went into the negative until the overdraft fees are tacked on. The most recent was when I looked on my account last week and was trying to close it. The customer service rep told me it could not close because it had pending transactions, however, I had funds remaining in the bank.

To my dismay, something came in which should not because I had cancelled that debit. But instead of charging me one overdraft fee, they conveniently place the larger charge first, which came in the latest, so that the account can go into negative, then they charge me more than one overdraft fee, tacked in on to my account, and all over a weekend date. The larger charge was not on the account when I try to close it on Friday, but by Sunday, it had this charge plus overdraft fees! They put the bigger charge in so that all the other charges that were there first, slips in afterwards so that they had a domino effect of charges.

And talk about depositing money. They are quick to remove money from you balance but try to deposit. Your money do not hit the account unless you deposit before 2pm, otherwise you are really unlucky.

This bank practices to rip off its customers and charge them fees that are not really true. Their practice is unethical and there should be a consumer law against this type of actions.

No more
miami, Florida
U.S.A.

This report was posted on Ripoff Report on 02/22/2009 08:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/Ft-Lauderdale-Florida-33324/Regions-Bank-This-Bank-Is-Designed-to-Overdraft-Acct-It-fixes-so-the-fees-are-More-Ft-L-427278. 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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REBUTTALS & REPLIES:
0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

REGIONS BANK is a RIP OFF & not customer friendly!

AUTHOR: From the South - (United States of America)

Regions bank COOKS THEIR BOOKS!!!!  I read on one site of complaints that they felt like dealing with REGIONS was like dealing with the Mafia, and that may be true.


I had a mistake with Sears charging me twice for the same item.  Sears bent over backwards to fix the problem, they did and it was not easy.  People make mistakes, but SEARS "helps" its customers...NOT REGIONS!


I had 2 over drafts due to the error and my branch manager at Regions was as helpful as much as the banks "policies" would allow.  I had 2 ODs, becuase we all know how they put the largest check in first against your account NO MATTER when it was posted.


Well the GREED of Regions Bank has gotten so bold they changed the DAY on THEIR ledger when the mistaken SEARS charge went through and backed it one day so they could charge more fees!!!! NO KIDDING and I have copies of my account to prove it!


I made printouts of all the post and one of them is right off the records of the branch managers system that PROVERS they changed the date of when the SEARS debit was posted.  I thought it was illegal to "cook the book?" 


The greed with REGIONS bank has gotten so addictive that they are addicts for their customer's money.  Why doesn't ANY ONE do something??!!  I know it is not easy becuase I have tried.  It is like no one in authority really cares!

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#2 Consumer Suggestion

Unavailable funds fees....

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

Although it is a little difficult to decipher some of your comments, it appears that you were charged 'unavailable funds fees'. These may well show on your statement even if your 'posted balance' (prior to the fee) is positive.

The fees you were charged probably related to the amount of 'authorized holds' (debit card purchases) placed on your account.

Example;

Let's say you have $100 in your account, and you have purchased items from a store totalling $50, however the store hasn't collected this money yet, merely got an authorization that the funds are available. The $50 purchase is logged at the bank and those funds are placed 'on hold'.

So, now your 'available balance' is only $50 but your 'posted balance' is still showing $100. That night a check comes through and 'posts' to your account for $60. However, the store didn't 'post' your $50 purchase, it remains 'on hold' still.

The next morning your 'posted balance' shows you still have $40 left, but your 'available balance' would show that you are actually negative $10. Hence you will be assessed an 'unavailable funds fee'.

Holds placed against your account will reduce your balance, even if the merchant doesn't collect the funds for 3 days.

The only way to avoid fees is to keep an accurate ledger and ensure you know the policy on cut-off times and how fees are assessed.

I work for a larger national bank and we have the same type of fees on checking accounts.
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#3 Consumer Comment

Not possible..

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

"First and foremost, it automatically overdraw your account even on weekends which if you should make a deposit during this time or call the bank is closed."

- NOPE..The only way to overdraw your account is if YOU spend more than was available in your account. If you don't spend more than you have in your account it does not matter how they post transactions.
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