• Report: #358215

Complaint Review: Regions Bank

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  • Submitted: Fri, August 01, 2008
  • Updated: Tue, September 23, 2008

  • Reported By:jasonville Indiana
Regions Bank
1600 N St . Linton, Indiana U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Regions Bank Social Security deposits can be protected from NSF charges. Linton Indiana

*Consumer Comment: LOL

*Consumer Comment: About NSF on checking accounts with direct deposit.

*Consumer Comment: Nice try...

*Consumer Suggestion: Interesting twist of law...

*Consumer Suggestion: Interesting twist of law...

*Consumer Suggestion: Interesting twist of law...

*Consumer Suggestion: Interesting twist of law...

*Consumer Comment: Wait a second...

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SOCIAL SECURITY DEPOSIT CAN BE NSF PROOF!
I have had Regions delay my S.S. direct deposit by up to 5 days causing my account to CASH the debit/checks but add $35.00 per debit/check to pay for extra per transaction.

There is Federal law that protects you if you have direct deposit for your disability income. I have had to use it and makes your account bullet proof from NSF fees. You will have to write them a certified letter with the same information as I pasted below that I sent. It includes the Federal laws quoted. Here is the web page to see the .GOV page your self.
***************************************************
http://www.socialsecurity.gov/OP_Home/ssact/title02/0207.htm
Section 207 of the Social Security Act (42 U.S.C. 407)
***************************************************
THIS IS A COPY OF WHAT I wrote to Regions:
TO: Regions Bank Aug 1 2008
P.O. Box 123
Linton IN. 47441

From: John Q Public


RE: Social Security Checking
Federal Law 207 42 U.S.C. 407
Section 207 of the Social Security Act (42 U.S.C. 407) protects Social Security benefits from assignment.


Sear Sirs.
I am sending this letter Via Certified Mail concerning my checking account routing# 1234567890 account# 12 34 56 7890 . Please be advised that as of to day Aug 01 2008 this checking account monies is at current 100% deposited money from Social Security Disability funds and will remain so and is protected from the unfair NSF fees recently imposed on this account from the delayed credit posted to this account from Social Security.

Section 207 of the Social Security Act (42 U.S.C. 407 ) protects Social Security benefits from assignment of any kind and is not subject to over draft fees.

Section 207 of the Social Security Act 42 U.S.C. 407 provides:
"The right of any person to any future payment under this subchapter shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this subchapter shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law."

Sincerely
John Q Public

: http://www.socialsecurity.gov/OP_Home/ssact/title02/0207.htm
Section 207 of the Social Security Act (42 U.S.C. 407) protects Social Security benefits from assignment, levy, or garnishment.



Micky
jasonville, Indiana
U.S.A.

This report was posted on Ripoff Report on 08/01/2008 02:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/Linton-Indiana-47441/Regions-Bank-Social-Security-deposits-can-be-protected-from-NSF-charges-Linton-Indiana-358215. 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 8Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

LOL

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

Boy, it's interesting how it becomes amateur hour with people thinking they're Clarence Darrow and think SS funds are not subject to NSF fees.

If you overdraw your account after the funds are deposited, the money in your account is NOT anything except money. It is not SS money. It is not gambling money. It is just money and will be subject to NSF fees if you overdraw.
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#2 Consumer Comment

About NSF on checking accounts with direct deposit.

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

Am I correct, this law applies to the collection of fees due to delay of funds into checking account?
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#3 Consumer Comment

Nice try...

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

but it doesn't work that way. the law you quoted states that your SS disability can not be garnished, levied, etc. Doesn't mean that the bank can not charge legitimate fees based on you spending money before it is available in your account. Hope you don't cause a lot of people receiving SS benefits to start getting fees. This is like the 'federal income tax is illegal' jokes.
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#4 Consumer Suggestion

Interesting twist of law...

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

Here's what the law ACTUALLY states:

""Sec. 207. [42 U.S.C. 407] (a) The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.""

Please note a very important phrase: OR OTHER LEGAL PROCESS.

The assessment of a service fee (NSF) on a bank account is NOT a legal process (judicial proceeding.) However, taking you to court to pay a debt is.

Either way, the bank may simply close your account for your refusal to pay the NSF fees you are assessed because you are writing checks for money you don't have (yet.) If this happens, you will have difficulty opening another bank account and might find yourself using those neighborhood "check cashing" joints because direct deposit will no longer be available to you.

The intent of the law was to protect SS benifits from garnishments and such (except IRS taxes, child support, student loans- debt to the government.) It was not intended to allow folks as you to "float" checks and avoid bank fees.
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#5 Consumer Suggestion

Interesting twist of law...

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

Here's what the law ACTUALLY states:

""Sec. 207. [42 U.S.C. 407] (a) The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.""

Please note a very important phrase: OR OTHER LEGAL PROCESS.

The assessment of a service fee (NSF) on a bank account is NOT a legal process (judicial proceeding.) However, taking you to court to pay a debt is.

Either way, the bank may simply close your account for your refusal to pay the NSF fees you are assessed because you are writing checks for money you don't have (yet.) If this happens, you will have difficulty opening another bank account and might find yourself using those neighborhood "check cashing" joints because direct deposit will no longer be available to you.

The intent of the law was to protect SS benifits from garnishments and such (except IRS taxes, child support, student loans- debt to the government.) It was not intended to allow folks as you to "float" checks and avoid bank fees.
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#6 Consumer Suggestion

Interesting twist of law...

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

Here's what the law ACTUALLY states:

""Sec. 207. [42 U.S.C. 407] (a) The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.""

Please note a very important phrase: OR OTHER LEGAL PROCESS.

The assessment of a service fee (NSF) on a bank account is NOT a legal process (judicial proceeding.) However, taking you to court to pay a debt is.

Either way, the bank may simply close your account for your refusal to pay the NSF fees you are assessed because you are writing checks for money you don't have (yet.) If this happens, you will have difficulty opening another bank account and might find yourself using those neighborhood "check cashing" joints because direct deposit will no longer be available to you.

The intent of the law was to protect SS benifits from garnishments and such (except IRS taxes, child support, student loans- debt to the government.) It was not intended to allow folks as you to "float" checks and avoid bank fees.
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#7 Consumer Suggestion

Interesting twist of law...

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

Here's what the law ACTUALLY states:

""Sec. 207. [42 U.S.C. 407] (a) The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.""

Please note a very important phrase: OR OTHER LEGAL PROCESS.

The assessment of a service fee (NSF) on a bank account is NOT a legal process (judicial proceeding.) However, taking you to court to pay a debt is.

Either way, the bank may simply close your account for your refusal to pay the NSF fees you are assessed because you are writing checks for money you don't have (yet.) If this happens, you will have difficulty opening another bank account and might find yourself using those neighborhood "check cashing" joints because direct deposit will no longer be available to you.

The intent of the law was to protect SS benifits from garnishments and such (except IRS taxes, child support, student loans- debt to the government.) It was not intended to allow folks as you to "float" checks and avoid bank fees.
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#8 Consumer Comment

Wait a second...

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

How are the checks getting out before the funds are available? You wouldn't happen to be writing checks without enough funds to cover them, would you?

If that is the case, how are the NSF fees unfair?
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