• Report: #551209

Complaint Review: REGIONS BANK OF FLORIDA

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  • Submitted: Fri, January 08, 2010
  • Updated: Sun, August 08, 2010

  • Reported By: Joe — Tallahassee Florida United States of America
REGIONS BANK OF FLORIDA
201 S Monroe St Tallahassee, Florida United States of America

REGIONS BANK OF FLORIDA Regions Bank Cash In on Overdraft Fees Tallahassee, Florida

*Consumer Comment: What a Joke!

*Consumer Comment: Thanks for this information...

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REVENUE FROM OVERDRAFT FEE IS WHY BANKS NOTORIOUSLY REFUSE TO INFORM CUSTOMERS OF THE "OPT OUT" OPTION WHEN OPENING A NEW ACCOUNT FOR A NEW CUSTOMER!  WHEN A CUSTOMER OPENS A NEW ACCOUNT, THE CUSTOMER CAN "OPT OUT" OF THE AUTOMATIC PAYMENT OF DEBIT TRANSACTIONS WHEN THE ACCOUNT IS INSUFFICIENT TO COVER THE CHARGE.  FAILURE TO "OPT OUT" WILL ALLOW THE BANK TO PAY FOR THE CHARGE AND CHARGE AN OVERDRAFT FEE.

 

I am disputing $335.00 in overdraft fees that resulted from several "debit card" transactions.  My account went in the negative when the rental car company placed an additional $100.00 hold (on my account) because I entered an extra day when I returned the rented vehicle a day late.  I was not aware that the rental car company had placed an additional hold on the rental.  After 10 days of using my debit card, I reviewed my account and then realized that all of my debit transactions were overdrafts.  Even though I was making deposits to cover the charges, the account remained in the negative because the deposits were only enough to cover the amount of the (small) charges.

 

After three (3) months of challenging the ($335.00) overdraft fees, talking to several individuals from (Jeremy) the person who opened the account, to the Asst. Branch Manger (Cathy Hopkins), and to the collections department, I was finally told on 01/07/10, by Mr. Pittman, Branch Manager for Regions Bank, that the bank will only refund $66.00.

 

BECAUSE I KNOW MY DAILY ROUTINE AND BANKING HABITS/PRACTICES, I WOULD HAVE UNQUESTIONABLY "OPT'D OUT," AND THE OVERDRAFT FEES THAT I'M DISPUTING WOULD NOT HAVE OCCURRED!

 

I'm arguing that it was a "banking error" NOT to inform me that the bank WILL PAY debit transactions even when the account is insufficient, unless I "opt out."  Previously, before facing this situation, it has always been my understanding that a "debit" transaction is different from a "check" and a "credit" transaction.  If the funds are not available, then the debit transaction will be "DECLINED."  If my debit card had been declined, this would have prompted me to investigate my account earlier.

 

Thank you for this service,


This report was posted on Ripoff Report on 01/08/2010 03:44 AM and is a permanent record located here: http://www.ripoffreport.com/r/REGIONS-BANK-OF-FLORIDA/Tallahassee-Florida-32301/REGIONS-BANK-OF-FLORIDA-Regions-Bank-Cash-In-on-Overdraft-Fees-Tallahassee-Florida-551209. 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 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

What a Joke!

AUTHOR: Jim - (USA)

Oh I see, the bank is supposed to tell you when you don't have enough money in the account, I guess they are also supposed to send somebody to your door to tell you in person about any and all terms of the account holder's agreement because you are too damned lazy to read your paperwork!  Not only that, you fully admitted and I quote you directly..."After 10 days of using my debit card, I reviewed my account and then realized that all my debit transactions were overdrafts."  Why didn't you keep a written record?  Too lazy to do that, too.


In typical fahion, you keep on using a card without keeping any written records and when you run up O/D charges, oh yes, its the big bad bank's fault!  You are a joke!


Now, if any members of the Bank's management are eavesdropping...


Great work!  We need strong financial institutions in our country!  You did fantastic profiting on still another sub-prime thinker who can't or won't keep records!  Don't feel sorry for your profit!  Why not continue to cash in on such "responsible thinking".  Better yet, why not raise the O/D fee to $100 a pop?  There's millions to be made off these types!  Once again, GREAT WORK!  Keep it up!!!


 

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#2 Consumer Comment

Thanks for this information...

AUTHOR: Sally Jones - (USA)

I would like to say how much I appreciate this information, and how helpful I found it to be...  Thanks
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