• Report: #435700

Complaint Review: Regions Bank

  • Submitted: Thu, March 19, 2009
  • Updated: Thu, March 19, 2009

  • Reported By:Cordova Tennessee
Regions Bank
Germantown Parkway Memphis, Tennessee U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Regions Bank Regions takes parent's money owed from adult children's account Memphis Tennessee

*Consumer Comment: Right to offset...

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I too had a problem of Regions taking money out of our personal account for a business flexline payment. We owed the money but my husband and I are both unemployed and told them we could not pay them right now. We were doing our best to get jobs so we could get back on track. My in-laws gave us some money to pay utilities and buy groceries. As soon as the deposit was made Regions took it back out to pay the flexline account without authorization. We tried to fight it to no avail.

In the mean time, they also allowed a draft to come through that we paid a stop payment fee on. Even though we had proof of the stop payment request they still allowed it to come through two more times. The second one put us in a negative position so we cannot close the account. We also told them we cannot pay it and they have added even more fees.

Our adult son also has an account with Regions. They took money out of his account to pay our flexline. That seems illegal but they will not budge.
HELP!!!

Workingmom
Cordova, Tennessee
U.S.A.

This report was posted on Ripoff Report on 03/19/2009 01:40 PM and is a permanent record located here: http://www.ripoffreport.com/r/Regions-Bank/Memphis-Tennessee/Regions-Bank-Regions-takes-parents-money-owed-from-adult-childrens-account-Memphis-Tenne-435700. 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 Consumer Comment

Right to offset...

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

Hello,

I'm sorry to see that you're having difficulties and having your money seized is adding further stress and aggravation. I hope things pick up for you.

As for the money being taken out of accounts, it will be in your account agreement under "right to offset" or some similar wording. Put briefly, the bank will not be left holding the bag and reserves the right to withdraw money from a customer's accounts to satisfy their debts elsewhere. Someone with a negative balance in their business account may find that the funds have been withdraw from a personal account or from a spouse's account or even their parent's account.
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