Complaint Review: Fifth Third Bank - FORT THOMAS Kentucky
- Fifth Third Bank 131 N. FORT THOMAS FORT THOMAS, Kentucky U.S.A.
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- Category: Banks
Fifth Third Bank Fifth Third Mortgage refuses to process EFT payments in a timely fashion. FORT THOMAS Kentucky
*Consumer Comment: Grace Period
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Like a lot of people, I pay electronically all my utilities bills, I transfer money between multiple accounts all the time. Everyone processes the transfers without difficulty, for free, including Fifth Thirds checking, and Fifth Thirds credit card.
But Fifth Third mortgage company, does not.
The reason they do not, I imagine, is that they want to generate extra fees, both for EFT, and for the almost inevitable penalties if you do not use thier "service." The mortgage holders are a captive audience, if 5th3rd tried to pull this with thier credit card, or thier checking account, people would just leave. Ah, but the mortgage, hard to leave, so they take advantage. I can imagine how much fees/penalties they make off this doing this to thousands of people. If I could leave them, I would in a heartbeat, but interest rates are not low enough.
All I want to do is simply pay my mortgage as I pay all my other bills, including my 5th Third credit card bill, via timely free EFT. No dice.
In this age of forclosures, the fact that Fifth Third will not process EFT for free in a timely manner seems to be very bad faith. I have asked several of thier representatives why they do not process EFT in a timely fashion. No one was able to give any answer.
I got one. Fifth Third is out to rip you off. Avoid this bank.
LH
fort thomas, Kentucky
U.S.A.
This report was posted on Ripoff Report on 06/17/2008 01:44 AM and is a permanent record located here: https://www.ripoffreport.com/reports/fifth-third-bank/fort-thomas-kentucky-41075/fifth-third-bank-fifth-third-mortgage-refuses-to-process-eft-payments-in-a-timely-fashion-340930. 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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#1 Consumer Comment
Grace Period
AUTHOR: Timdier - (U.S.A.)
SUBMITTED: Friday, June 20, 2008
Any residential first mortgage loan has a 15 day grace period prior to any late fee being applied. Isn't 15 days enough to get your EFT set up?


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