- Report: #153671
Complaint Review: BB&T Branch Banking And Trust Bluefield VA - Bluefield Virginia
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BB&T Branch Banking And Trust Bluefield VA
502 Commerce Drive Bluefield, 24605 Virginia, U.S.A.
Phone:
276-322-5626
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BB&T Branch Banking And Trust Bluefield VA ripoff Horrible service, Long hold times on checks, lying about bank policies Bluefield Virginia
*Consumer Comment: What don't you understand?
*Consumer Comment: What don't you understand?
*Consumer Comment: What don't you understand?
*Author of original report: What did I expect
*Consumer Comment: How is this a rip off?
*UPDATE EX-employee responds: To Stacey and Others
*Consumer Suggestion: Outrageous
I opened an account with BB&T in Bluefield, VA using checks from my previous employer, seperation pay. Then I decided to transfer $17,000 using my personal check from another bank (Huntington Banks). I go in to deposit the check, the teller processes the deposit (a check for $17,000, and a couple for like $100 a piece.)
After finishing the whole transaction, the teller places the checks in her holding tray, and when I am about to walk off, decides to tell me that there will by a hold on almost the whole of my deposit. She informed me that the next day I would have $245 for 5 days, at which time they would release $5000, then the rest at 11 days. I transferred this money for investment purposes, I wanted it as soon as possible.
I then said, "You have to be joking me." She went and got the branch manager, who told me that it was Federal Law that FORCED them to do the 11-day hold. Now, I'm not a banker, but I know the law ALLOWS them to hold the check, but does not force them. Bingo, lie #1.
So immediately, I ask for my $17,000 check back (now endorsed.) They reverse the deposit and I get it. I go talk to a "Personal Banker," and again get the "Federal Law Forces us," speech, and "You'll not find a bank that will do any different." I leave.
I send my deposit to my other bank, USAA. It is credited 3 days after I send it, meaning immediately when they recieved it. No 11-day hold, no lying.
Well, doesn't end there. My girlfriend's dad got a early distribution from his 401K from the Prudential (A supposedly very reputable financial institution.) Now mind you, it isn't from someone, it's actually from the company Prudential. He tries to deposit the money in his account, and what is he told??? Yep, 11-day hold. From a financial institution like the Prudential, who probably has as much or more assets than BB&T. They told them that they have to put 11-day holds on insurance checks, and would not listen to him tell them it's not insurance. So I called up USAA again, and yep, no hold.
Armed with that, he called BB&T and they reversed the 11-day hold standing, and agreed to a 5-day hold."
My last experience with BB&T happened the other day. I went there to cash a Federal Income Tax Refund check for an ammended return, and a personal check for $30. I needed some pocket change and really needed to process both of those checks.
Well, they cashed the $111 Federal check, but wanted to put a 5-day hold on the $30 personal check. 5-days for $30??? By this time, my account was down to about $7, and they let me know that I had to have enough money to cover the check if it bounced. Now, isn't that the bank's job and how they make money?
I immediately came out of the drive through and went in the branch, throughly fed up now. I immediately asked for a "personal banker." I explained the situation, and she again said, "You only have $7.32 in your account." I then explained that I would have had over $17,000 in my account had you all not decided to put a 11-day hold on my check. Again I received, "That is the standard policy at all banks, and that I wouldn't find a bank that would do any different."
I then told her to close the account, feeling much better now. Also, I told her that USAA credited the whole $17,000 to my account the same day they got it.
I think it is funny about this bank. They were very fast to embrace the Check 21 Act, speeding up the time it takes for checks to clear, but then they put on extremely long hold times on checks. A good way for banks to maximize profits on NSFs. TOO BAD they didn't get a dime out of me.
The only purpose of this account was honestly a one time transfer to get money to my USAA account, which is who I use, and I am 100% glad to be rid of BB&T
Jeremy
St. Albans, West Virginia
U.S.A.
Click here to read other Rip Off Reports on BB&T Branch Banking and Trust Co.
After finishing the whole transaction, the teller places the checks in her holding tray, and when I am about to walk off, decides to tell me that there will by a hold on almost the whole of my deposit. She informed me that the next day I would have $245 for 5 days, at which time they would release $5000, then the rest at 11 days. I transferred this money for investment purposes, I wanted it as soon as possible.
I then said, "You have to be joking me." She went and got the branch manager, who told me that it was Federal Law that FORCED them to do the 11-day hold. Now, I'm not a banker, but I know the law ALLOWS them to hold the check, but does not force them. Bingo, lie #1.
So immediately, I ask for my $17,000 check back (now endorsed.) They reverse the deposit and I get it. I go talk to a "Personal Banker," and again get the "Federal Law Forces us," speech, and "You'll not find a bank that will do any different." I leave.
I send my deposit to my other bank, USAA. It is credited 3 days after I send it, meaning immediately when they recieved it. No 11-day hold, no lying.
Well, doesn't end there. My girlfriend's dad got a early distribution from his 401K from the Prudential (A supposedly very reputable financial institution.) Now mind you, it isn't from someone, it's actually from the company Prudential. He tries to deposit the money in his account, and what is he told??? Yep, 11-day hold. From a financial institution like the Prudential, who probably has as much or more assets than BB&T. They told them that they have to put 11-day holds on insurance checks, and would not listen to him tell them it's not insurance. So I called up USAA again, and yep, no hold.
Armed with that, he called BB&T and they reversed the 11-day hold standing, and agreed to a 5-day hold."
My last experience with BB&T happened the other day. I went there to cash a Federal Income Tax Refund check for an ammended return, and a personal check for $30. I needed some pocket change and really needed to process both of those checks.
Well, they cashed the $111 Federal check, but wanted to put a 5-day hold on the $30 personal check. 5-days for $30??? By this time, my account was down to about $7, and they let me know that I had to have enough money to cover the check if it bounced. Now, isn't that the bank's job and how they make money?
I immediately came out of the drive through and went in the branch, throughly fed up now. I immediately asked for a "personal banker." I explained the situation, and she again said, "You only have $7.32 in your account." I then explained that I would have had over $17,000 in my account had you all not decided to put a 11-day hold on my check. Again I received, "That is the standard policy at all banks, and that I wouldn't find a bank that would do any different."
I then told her to close the account, feeling much better now. Also, I told her that USAA credited the whole $17,000 to my account the same day they got it.
I think it is funny about this bank. They were very fast to embrace the Check 21 Act, speeding up the time it takes for checks to clear, but then they put on extremely long hold times on checks. A good way for banks to maximize profits on NSFs. TOO BAD they didn't get a dime out of me.
The only purpose of this account was honestly a one time transfer to get money to my USAA account, which is who I use, and I am 100% glad to be rid of BB&T
Jeremy
St. Albans, West Virginia
U.S.A.
Click here to read other Rip Off Reports on BB&T Branch Banking and Trust Co.
7 Updates & Rebuttals
Nighthawk
Cincinnati,Ohio,
U.S.A.
Outrageous
#2Consumer Suggestion
Wed, August 01, 2007
Under Reg-CC the bank can place a hold for up to 11 days -- but this is very rare for most institutions. New accounts are also typically regarded as 'suspicious' for the first 90 days they are opened. The only way to avoid this is to deposit a cashiers or certified check, and ask for the special Reg-CC deposit ticket. This flags the deposit and will nornally result in next day availability. Your only other option is to wire the money into the account. That'll cost about $20 but at least you'll have access to your money.
Sarah
Henderson,Nevada,
U.S.A.
To Stacey and Others
#3UPDATE EX-employee responds
Tue, July 17, 2007
I worked for BB&T bank for 3 years, and if your parents didn't have a problem with them, then they are lucky! I worked in collections and in the branch area to put myself through college and it was a hard job. I was not treated well by the customers, and for good reason. I would never bank with BB&T, because I've seen how they treat their customers. The employees are not informed. The reason the writer of this was told the same speach about the hold on the check is because that is all they know. While I was employed there, I was not informed. I was told what to say and if I was asked a question that I didn't have the answer for, I was told to make it up. Unfortunately, that is standard. It is not the employees fault as much as it is the lack of knowledge, and training. My advice to everyone is to find a different bank!
Stacey
Front Royal,Virginia,
U.S.A.
How is this a rip off?
#4Consumer Comment
Thu, June 07, 2007
I don't see how you have gotten ripped off AT ALL! My parents have been banking with BB&T for years and they have never had a problem. So, if nothing else, you shouldn't put down ALL BB&T banks. How did you expect the bank to cash a $30 check from your $7 available funds? That would put you in the negative for $23. They would be dumb to do that. The check holding situation is common in almost all accredited banks. You lost no money here from your report. Next time you should thoroughly read the terms and conditions that come with your new account. Never assume that you know how things are going to happen in a business you know little of, afterall it is the bank associate's expertise. I seriously think that it is extreme to say that the bank ripped you off just because you didn't like their check cashing policy, afterall they did return to you all of your money!
Jeremy
St. Albans,West Virginia,
U.S.A.
What did I expect
#5Author of original report
Sat, September 17, 2005
What did I expect, I expected to have access to MY MONEY, and as for the one time transfer, that is because my bank, USAA is in San Antonio, and I needed access to MY MONEY in days, not weeks. ANYWAY, USAA has all of that money now, in an investment account, and I no longer bank with BB&T, closed both my business and personal account, they are both with USAA now. What about the $30 check??? How much risk did that put the bank in??? Virtually none... I understood the $17000, but not the $30 one. GO BANK SOMEWHERE ELSE, because BB&T SUCKS!!! And I did read the agreement, and it did not prohibit, nor do I think federal/state/local laws prohibit opening an account (maybe you should do research for yourself) for a one time transfer, but for your information, I really had the account open already to save me from ATM fees, because BB&T crooks are the majority of ATMS, although USAA does pay back BB&Ts fees.
Robert
Wallingford,Connecticut,
U.S.A.
What don't you understand?
#6Consumer Comment
Mon, August 15, 2005
You are a new account holder. All banks hold checks longer for account holders with recently opened accounts. You would have known that had you read the terms and conditions you received when you opened your account. It's to protect the bank against fraud. And with a check of 17,000, what were you expecting. I dunno. Opening an account for a one time transfer sounds like fraudulent activity to me.
Robert
Wallingford,Connecticut,
U.S.A.
What don't you understand?
#7Consumer Comment
Mon, August 15, 2005
You are a new account holder. All banks hold checks longer for account holders with recently opened accounts. You would have known that had you read the terms and conditions you received when you opened your account. It's to protect the bank against fraud. And with a check of 17,000, what were you expecting. I dunno. Opening an account for a one time transfer sounds like fraudulent activity to me.
Robert
Wallingford,Connecticut,
U.S.A.
What don't you understand?
#8Consumer Comment
Mon, August 15, 2005
You are a new account holder. All banks hold checks longer for account holders with recently opened accounts. You would have known that had you read the terms and conditions you received when you opened your account. It's to protect the bank against fraud. And with a check of 17,000, what were you expecting. I dunno. Opening an account for a one time transfer sounds like fraudulent activity to me.
