First Midwest Bank MONEY STOLEN OUT MY KIDS' ACCOUNTS!! ripoff Tinley Park Illinois
Don't trust your money to First Midwest Bank! I found out the hard way.
I've been a customer of First Midwest for over 10 years and have had checking accounts, savings accounts and loans with them. I even opened up bank accounts for both of my kids. And to protect them and their money, and because they were minors, specified two signatures needed for withdrawal. I didn't want my kids to get the money out, nor have their father, my ex-husband, get the money out.
So naturally, I was surprised when their father marched into the bank, unbeknownst to me, and withdrew $1,800 for the two accounts. He wanted the kids to bank at his bank, and plus have some control over their spending. I was really angry, but was afraid to "start trouble" at the bank where I knew everyone and (I foolishly thought) was "friendly."
Now I found out just how "friendly" the bank was when, on Thursday, I deposited a check for $800. I had checked the account that day and everything was fine with it, it wasn't overdrawn. But on Friday, when I checked the online banking, I saw that they had charged me $90 in fees for three checks that cleared after the bank had closed.
Apparently, they post the checks after the bank closes but can't post the deposits until the next day. They refused to waive the fees, in fact the people in the "customer service" call center (not even in the bank) were more interested in lecturing me on how to handle my checking account because I had an overdraft last October (I had signed up for an automatic transfer from my savings account prior to that but was told "it didn't go through") and they had "generously" waived the fees (all they did was save me the trouble of going up to the bank with my paperwork about the savings account transfer feature, which I had).
When I asked to talk to someone in charge, I was put on hold for 10 minutes before being told they weren't there. On top of that, they REFUSED to connect me to my branch, where I could talk to a personal banker. Instead, I had to call back, pretend I wanted a loan and then, of course, they were only too glad to connect me to the branch.
The first person I talked to at the branch lied and told me the manager wasn't in - he'd be back Monday. I happen to know a financial guy at the bank, so I called back and talked to him. He told me the manager was sitting at his desk!!! I finally got to talk to this dufus who told me he'd "look into things." When he called me back, he told me that he was unwilling to do anything to help me.
Well, I work for a law firm downtown and know a lot of lawyers and I talked to one about the situation with my kids' accounts and he tells me that I have a claim against the bank for the missing money - I'm within the statute of limitations and it doesn't matter who took out the money or where it went, the point is that I DIDN'T TAKE IT OUT AND I WAS THE ONLY ONE AUTHORIZED TO DO SO!.
So I call their legal department and get the voicemail of their lawyer. (That was a real issue in itself to get this goofy customer call center to give me that information) And, of course, I get lied to again by a receptionist who tells me the guy is at lunch. I call back a half hour later and "he's gone for the day." But I'm in the wrong department, anyway. I have to talk to their fraud division. An hour later, I'm REDIRECTED back to the branch BUT NO ONE WANTS TO GIVE ME THE NUMBER.
Fortunately, I wrote the numbers down that I called previously. Apparently, the branch manager was made aware of the situation with my kids' accounts by the woman in the fraud department and he promised to "look into it" with the personal banker with whom I opened up the accounts.
So I go into the bank tonight after work and talk to the banker and he tells me that it will take several days to find out if my story is correct (of course, since I'm such a deadbeat, I MUST be lying and trying to rip-off the bank)but IF I'm telling the truth, then I can FILE A POLICE REPORT!!!
WRONG! It's the bank's responsibility NOT THE POLICE to make sure that money withdrawn from the bank goes to whomever is entitled to withdraw it. This is a civil matter, they're trying to make it into a criminal matter. He asked me why I waited so long, I told him DOESN'T MATTER. I'm within the statute of limitations on it. He wanted to know what happened to the money I said DOESN'T MATTER. It could have gone into a trust account for the kids or spent on hookers in Vegas, the point is that they gave the money to someone who wasn't authorized to withdraw it.
Now I want the $1800 plus the interest on those accounts. And as for my checking account - it will stay there. But I won't incur anymore overdraft fees. And I won't order my checks from the bank either. Banks don't make money on checking accounts, they make money on the astronomical fees they charge businesses and customers for things like "internet banking" overdrafts, check charges, etc. And, of course, LOANS. Because they're demand deposit accounts, they can't use the funds in their reserves.
So keep your checking account at your rude bank, order your checks through a third party dealer, and get your auto loans and savings accounts at a bank that's been in business for more than, say, a year. And has people working in the bank that don't look like they've been recruited from a homeless shelter.
My bank didn't care about me at all - even though I cared about them and was a loyal customer for such a long time. They could have waived the fees and I would have been a happy customer. Now they have an angry, dissatisfied customer who wants her $1800.
Michelle
Tinley Park, Illinois
U.S.A.
9 Updates & Rebuttals
Michelle
Tinley Park,Illinois,
U.S.A.
I'm out of luck
#10Consumer Comment
Wed, August 17, 2005
Thank you, Mike for your suggestion. Unfortunately, I believe I'm out of luck in this matter as the statute of limitations is only for a year (the snotty attorney smugly informed me of the statute and I looked it up). To get an attorney to take a case like this would be pretty much impossible; I work at a law firm and one of our attorneys handles these type of cases. He pretty much said I have no legal recourse at this point.
However, if I can warn other people about the shenanigans going on at this bank, maybe someone else can avoid having this happen to them.
1. Make sure your signature card is completely filled out before you sign. First Midwest made me sign a blank card because "they were too busy" to complete the card at the time. Although my originial paperwork states that two signatures are needed for withdrawal, the signature card (which I think was completed when this came to light) states "1" signature needed.
2. Make sure you OPEN and keep track of your bank accounts. Part of my problem was that I ASSumed the money was safe and simply filed the unopened statements. My ex was clever enough not to close the accounts completely and I was dumb enough to assume the money couldn't be removed. It wasn't until I got a dormant account notice that there was only $5 in the account that I knew anything was up, and by then it was too late.
3. Keep your money somewhere other than a predatory bank like First Midwest, TCF, etc. These banks are the whores of the banking world; most of the banks that actively recruit checking accounts are. No money is made off of checking accounts - except in charging astronomical fees. Check out banks that have been around for a while instead of the fly by night newcomers with a different name every week.
4. Put your name on the "do not call" list and if you get a telemarketing call from your bank, report them. Banks are now GIVING OUT YOUR PERSONAL FINANCIAL INFORMATION to outside telemarketers who call you to get business for the bank. These telemarketing companies, in turn, also use that information for their other clients. So beware of banks (like First Midwest) that call you for business.
5. Again - order your checks from an outside company. You are paying 4 times as much ordering from the bank. When you open your account, your intitial check order should be free. If not, ask for free temporary checks.
Mark
Philadelphia,Pennsylvania,
U.S.A.
Your doing this wrong
#10Consumer Suggestion
Wed, August 17, 2005
Contact the OCC and the Federal Reserve department for fraud. These are the two organizations that oversee banks in the USA. Second, lawyer up. You are at a disadvantage as they are better armed then you. Next, you may want to sue your ex. He is a thief. Put his feet to the fire as well.
Michelle
Tinley Park,Illinois,
U.S.A.
More information
#10Consumer Suggestion
Tue, August 16, 2005
Hi, I am the original poster. I don't know who posted the "rebuttal" but it wasn't me. However, it is interesting that I did speak to the bank's attorney, Mr. Paul Simpson, who very arrogantly told me that there was nothing I could do about this problem as the statute of limitations are up. He also told me that the signatures on the withdrawal slip matched up, but refused to send them to me. He said he had been doing this for 30 years and there was no one I could complain to. I obtained the copies of the withdrawal slips from Kevin, my "personal banker" (who didn't even offer an apology about this). They are clearly forged! I did write a letter to the bank president & sent him copies of the information; but I doubt it will do any good. I am a nobody, the bank doesn't need me - no matter how long I've been banking there.
Because of the branch banking laws that have been effective in Illinois for the past 20 years, banks are no longer about getting customers. Instead, they are about getting fees. The "free checking" you get isn't really free. They are actually delaying deposits, encouraging internet banking and telephone banking (which gives misleading information about which checks are cleared) and posting checks after the bank closes (although, for some reason, the deposits have to wait until the next day). Worst of all, they are actually using tellers as TELEMARKETERS, giving them "bonuses" for signing people up for direct deposit, bill payment, and other things, all designed to make sure you keep your checking account with them.
Fees for check reorders are outrageous. Do yourself a favor and order your checks online at a private company. Instead of paying over $30 a box, pay $7.
I don't mind following rules IF they apply to everyone. But when I'm charged $90 for one overdraft (when the money was there) and a "good business account" is allowed to be overdrawn repeatedly, it's not right.
And as far as this theft from my childrens' accounts by their father, yes, it's true and those are the facts. Anyone who wants to see the copies can feel free to contact me.
M
C City,Indiana,
U.S.A.
Apology
#10Consumer Comment
Mon, August 15, 2005
I would like to apologize. I misunderstood Michelle's comment of "This is a joke." I think that it is terrible that you would use this forum to mislead people who may be on your side! It is one thing to post your complaint, but to intentionally try to make someone belive what they are reading is from a bank employee...you are something else! I'm on your side if the facts are what you say they are, you should have left it at that!
I should have read the second post better, so the fault lies here as far as that is concerned.
M
C City,Indiana,
U.S.A.
You are the Joke!
#10Consumer Comment
Mon, August 15, 2005
Regardless of the fact of whether she bounced checks, the fact of the matter remains! Your bank allowed a non-account holder to withdraw funds from an account he should not have had access to. This SHOULD be a criminal matter! But the criminal should be the bank employee who allowed the father to withdrawal funds from the childrens' accounts. The teller should have told him he was unauthorized and not given him the money. Great public relations this bank has!
M
C City,Indiana,
U.S.A.
You are the Joke!
#10Consumer Comment
Mon, August 15, 2005
Regardless of the fact of whether she bounced checks, the fact of the matter remains! Your bank allowed a non-account holder to withdraw funds from an account he should not have had access to. This SHOULD be a criminal matter! But the criminal should be the bank employee who allowed the father to withdrawal funds from the childrens' accounts. The teller should have told him he was unauthorized and not given him the money. Great public relations this bank has!
M
C City,Indiana,
U.S.A.
You are the Joke!
#10Consumer Comment
Mon, August 15, 2005
Regardless of the fact of whether she bounced checks, the fact of the matter remains! Your bank allowed a non-account holder to withdraw funds from an account he should not have had access to. This SHOULD be a criminal matter! But the criminal should be the bank employee who allowed the father to withdrawal funds from the childrens' accounts. The teller should have told him he was unauthorized and not given him the money. Great public relations this bank has!
M
C City,Indiana,
U.S.A.
You are the Joke!
#10Consumer Comment
Mon, August 15, 2005
Regardless of the fact of whether she bounced checks, the fact of the matter remains! Your bank allowed a non-account holder to withdraw funds from an account he should not have had access to. This SHOULD be a criminal matter! But the criminal should be the bank employee who allowed the father to withdrawal funds from the childrens' accounts. The teller should have told him he was unauthorized and not given him the money. Great public relations this bank has!
Michelle
Tinley Park,Illinois,
U.S.A.
Too Bad
#10UPDATE Employee
Mon, August 15, 2005
This person lost money at our bank - too bad! She should have filed a report a year ago, before the statute of limitations was up! I have no use for people who whine and complain about trivial matters such as these!
She acts like $1800 is a lot of money! Big deal - I'm an employee of the bank in the legal department and I make that in a week. When this broad called me and complained, I had to stifle a laugh. Imagine - complaining about what doesn't even amount to a week's pay!
And she threatened to go to the president of the bank, Mr. O'Meara, with a letter! Like he's going to bother reading his mail!
This is a joke.