Report: #726767

Complaint Review: Regions Bank

  • Submitted: Sat, May 07, 2011
  • Updated: Thu, July 28, 2011
  • Reported By: Jeff — Knoxville Tennessee United States of America
  • Regions Bank
    Clinton Hwy. Knoxville, TN
    Knoxville, Tennessee
    United States of America

Regions Bank $10.00 fee to cash $150.00 - Region Bank Claims: Federal Reserve charges $10.00 per check cashed over $150.00 Knoxville, Tennessee

*Consumer Comment: see

*Consumer Comment: Nope.

*Consumer Comment: Bank Fees

*Consumer Comment: Well

Show customers why they should trust your business over your competitors...

5-5-2010  Entered Regions Bank on Clinton Hwy. Knoxville, TN (New Branch 6000 Block)

I was cashing a Regions Bank check written to me by a Regions Bank customer.

Check amount = $170.00   Told me $10.00 will be deducted from the check amount due to Federal Reserve fees incurred by Regions bank.  Regions Bank claims the federal reserve Charges $10.00 per check cashed over $150.00 for non Regions Bank customers.

I tore up the check, went back to the person who wrote the check, and requested a new check for $180.00.  $10.00 more than the original check to cover the federal reserve fees.  She (Regions Customer) was not a happy.

Next week she's withdrawing over $200,00.00 from various Regions Bank accounts and moving a 40k loan from Regions to 1st Tennessee.

The $10.00 is not the issue, it's the corrupt values of a corrupt bank fleecing those who can least afford to pay unfair and ridiculous fees.   

Per check Federal Reserve Fee $10.00?  I don't think so.  Anyone know?

Jeff

Knoxville, TN

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This report was posted on Ripoff Report on 05/07/2011 08:44 AM and is a permanent record located here: http://www.ripoffreport.com/reports/regions-bank/knoxville-tennessee-37918/regions-bank-1000-fee-to-cash-15000-region-bank-claims-federal-reserve-charges-10-726767. 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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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#1 Consumer Comment

see

AUTHOR: smackdown - (USA)

ror #756027
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#2 Consumer Comment

Nope.

AUTHOR: Flynrider - (USA)

"There should be no fee and any reputable bank will not charge such a fee. Regions is just ripping people off with those charges."

  Not sure what you consider a "reputable bank", but charging a fee to a non-customer for cashing a check is common at most major banks and many smaller ones.   Most of the larger multi-state banks have been doing it for years.

  The fee can be avoided by cashing the check at a bank where you have an account.

  The explanation about the Federal Reserve charge is bogus.   Sounds like the typical BS you get from a bank teller when they don't know the real answer to the question.
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#3 Consumer Comment

Bank Fees

AUTHOR: Mark - (USA)

Most banks will charge a fee to cash a check for a non customer if the check is not written on their bank. However, if the check was written on a customer's account, then it should  not matter if the person cashing the check has an account there or not. There should be no fee and any reputable bank will not charge such a fee. Regions is just ripping people off with those charges.
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#4 Consumer Comment

Well

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

You are not their customer. Now you can avoid this fee by opening up an account with them or cashing it at YOUR bank.

As for the person who gave you a $170 check. Why not just have her give you the cash? It also seems odd that a person with over 200k needs a 40k loan. But if she does transfer her accounts I hope she checks their policies as well on this. She may have a problem finding a bank that doesn't charge fees to non-customers.

The Federal Reserve requirement is a new one. So I think you mis heard it. But if you didn't and they gave you something in writing I hope you scan and post it here.

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