Complaint Review: Fifth Third Bank - Columbus Ohio
- Fifth Third Bank 450 West Tenth Avenue Columbus, Ohio U.S.A.
- Phone: 614-293-2155
- Web:
- Category: Banks
Fifth Third Bank Predatory Banking Fees ripoff Columbus Ohio
*Consumer Comment: I think maybe this one is your fault....
*Consumer Suggestion: Call the VP office
*Author of original report: response
*Consumer Comment: Question???
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On Friday 3/17 @ about 0600 before going to work, I checked the online balance, then wrote checks. Having recently overdrawn my account, on the morning of Friday, March 17, 2006, when I went to direct 5th3rd Bank to pay my bills via on-line banking.
When I logged on to pay bills before going to work at 6:00 AM, I paid close attention to my balances. 5th3rd refects the deposit of my Friday paycheck in my on-line balance, but does not show the actual deposit amount as a tranaction until Saturday.
As I started to pay bills the Account Summary screen showed a balance of $1,216.85, and a check for $350.00.
I proceeded to write a check for $580.00 for rent, leaving a balance of $636.85,
Next check for $26.29, leaving a balance of $610.16,
Next check for $50.00, leaving a balance of $560.16,
Next check for $25.00, leaving a balance of $535.16,
Next check for $219.66, leaving a balance of $315.90,
Next check for $43.93, leaving a balance of $271.97.
When I checked my balance after work on Friday the on-line balance showed (-$78.03)!
Saturday (3/18), I called Customer Service, spoke with Lisa D., explained the above situation. At first I was told there was nothing she could do. I asked to speak to a supervisor. I was placed on hold for about 15 minutes. When she returned to the telephone, Lisa told me that if I deposited $78.03 before 2PM on Monday (3/20), I would not be charged a fee.
Monday, after I borrowed $80.00, as I was standing in line at the bank to make my deposit, I received a courtesy call from 5th3rd informing me that I was over drawn $78.03, and I was going to receive a fee. When I informed the caller about Lisa's promise. I was told I needed to talk to Lisa.
On Monday (3/20), I called and spoke to another customer representative (I misplaced her name) and related the above. I was told that Tuesday, after the charges had posted, she would reverse the charge.
On Wednesday (3/22/2006), I checked the balance. The charges were not reversed! A call to customer service referred me my branch.
On Wednesday (3/22/2006), I called my bank branch. I spoke to Anne Eckerman. After I related the whole sequence of events, Ms. Eckerman offered to reverse one $33 charge. When I objected that the bank balance on line was $271.97 when I finished entering on line payments, Ms. Eckerman responded, "You should have looked at the total and realized that the $350 was not included in the on-line balance."
When I checked my savings account a hour later, my meager savings had been seized and my savings account closed.
On Friday (3/24/2006), Fifth Third Bank seized my entire direct deposited pay check. I no longer have access to my checking account.
I have been daily receiving harassing phone calls ever since.
This experience has caused me to realize how predatory Fifth Third Bank's fee structure is. If several items come into the bank on the same day the largest items are paid first. A Fifth Third Bank representative explained that the larger items were more likely to be the rent/mortgage or car payments, therefore would cause the customer more problems if those items were returned.
This makes sense if it were the habit of Fifth Third Bank to return over draft items. At least with me, it was the predatory habit of Fifth Third Bank to pay those items and charge multiple over draft fees. Since the Fifth Third Bank was covering the over draft, the customer friendly practice would be to cover the smaller items first, thus causing fewer over draft fees. It is the poor, not the well off who pay these fees.
However such a customer friendly policy would not help the rich get richer while causing the poor to get poorer.
Erik
Columbus, Ohio
U.S.A.
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This report was posted on Ripoff Report on 04/02/2006 01:40 PM and is a permanent record located here: https://www.ripoffreport.com/reports/fifth-third-bank/columbus-ohio-43210/fifth-third-bank-predatory-banking-fees-ripoff-columbus-ohio-184565. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#4 Consumer Comment
I think maybe this one is your fault....
AUTHOR: Lori - (U.S.A.)
SUBMITTED: Tuesday, June 13, 2006
Our financial institution does the same thing....you see your balance and a 'hold'. You then have to take your balance, and minus the 'hold' for the correct current information. In this case, you failed to do this.
Sorry my friend, but the overdrafts were your own fault, since you didn't correctly balance your own checkbook. There are times when an oversight happens, which sounds like the case here. As much as it pains me, I can't see where 5th 3rd is to blame.
If you don't understand how to use the online features that are amde available to you, then either ask for an explanation or don't use them, but this time, it's not a ripoff.
#3 Consumer Suggestion
Call the VP office
AUTHOR: Thomas - (U.S.A.)
SUBMITTED: Tuesday, June 13, 2006
The tellers and bank managers can't do anything to fix the problems that are created by Fifth Thirds anti-customer policies. Call the VP office at (513) 358-1323 or you will just get the run-around.
And pay no attention to Ken he's just mad 'caus Barbie left him for GI Joe.
#2 Author of original report
response
AUTHOR: Erik - (U.S.A.)
SUBMITTED: Saturday, April 15, 2006
Note: The response by Ken did not respond to the specifics of this customer's complaint. Nor did he dispute any of the facts set forth in the complaint
On the date and time the bills were being paid, the only source of information was Fifth Third's on-line balance. The Paycheck had not arrived at my (the complaining customer) home.
On payday Friday, Fifth Third reflected the direct deposit of the paycheck in the on-line balance. Fifth third does not reflect the amount of the deposit until the following day.
My check register could not reflect the deposit because I had not yet been informed of the deposit amount (which varies with each paycheck).
Should I have waited until Monday to pay my bills? In retrospect, yes. I was a fool to trust that Fifth Third would give me a trustworthy balance while not revealing the deposit amount. A deposit amount they were already reflecting in the on-line balance.
I still maintain that it is deliberately deceptive on the part of Fifth Third Bank to behave as described in my complaint.
#1 Consumer Comment
Question???
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Monday, April 03, 2006
When you were online checking your balance, how did it compare to the running balance you keep in your check register?
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