- Report: #1117032
Complaint Review: Regions Bank - Birmingham Alabama
Reported By:
Tickedoffconsumer -
Montgomery , Alabama,
Submitted:
Updated:
-
Author Not Confirmed
Why?
Regions Bank
Birmingham, Alabama, USA
Web:
www.regions.com
Categories:
Business Rating:
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Regions Bank Without customer's knowledge Regions add overdraft coverage to accounts that have opted out of coverage Birmingham Alabama
Regions has unscrupulous and downright fraudulent practices. I went in to my bank well over a year ago and asked to opt out of overdraft coverage. I knew that overdraft coverage is generally in the interest of the bank and not the consumer and did not want the bank capitalizing on my misfortune should have I ever mistakenly overdraft. They assured me that all overdraft coverage had been removed and I noted that my online account now stated "opted out." That was all well and good until I actually did overdraw my accounts. (Now to you bonehead shills being paid by the big banks to counter these reports - yes I KNOW that the overdraft was my fault- I accept that so be quiet m-kay?)
Here is the scneario. I had several items come through but I was a few dollars short- my fault yes. However the items were resequenced so instead of one overdraft I had six. I scratched my head becuase I had opted out and the first item put through for 129. was a check which should have been denied due to my opt out status. I went into the bank and they told me that I had opted out of coverage but that they readded overdraft coverage of 500.00 to accounts in good standing. WHAT???? I was incredulous! What on earth is the point of opting out when they add coverage to accounts without your permission even when you have opted out? Instead of answering my questions the manager became very abusive towards me and told me she would talke to her superior. This of course is just a way of deflecting because from what I have read they NEVER give back fees.
So there are two issues here.
1. The resequencing of checks to maximize the amount of overdrafts they can charge
2. Adding overdraft coverage without permission to customer's accounts who have opted OUT of coverage!
I do not mind giving any business or bank funds which they have legitimately earned. I SHOULD have recieved one NSF charge had the bank been above board. I could have then gone to the retailer, paid the account and given them the 20 dollars bounced check fee. It would have been a whole lot cheaper than $216.00. From studying the complaints about this bank I believe they specifically target accounts that run close to the wire and take advantage of those who can lest afford it. I have also been aware of them holding deposits until the credit posts. I watch my online account and there is some creative book-keeping that goes on behind the scenes.
2 Updates & Rebuttals
Ayame
Fultondale,Alabama,
For Anyone Reading This Now - Consumer
#2Consumer Comment
Mon, October 13, 2014
I've been a Regions customer about 15 years, and I can't count the times they have screwed me over. I have learned a few thing about how they work.
ONE: No one who works for Regions knows much about their services. You get as many different answers as they have people working for them.
TWO: Overdraft protection doesn't include checks, or automatic debits. And here's the important part: If a check comes through and the bank decides to deny it, you have to pay the bank to do so, and then pay the Payee of the check. If they cover it, you pay the overdraft fee to the bank. They will charge you to send a check back unpaid. And stop payments cost near 30 dollars as well. Even if you have the money to cover a check or debit, if something else is pending (that you may or may not see as pending) that is over your available balance or not, it may reserve your money for that, and end up bouncing not only it but anything else pending, meaning you'll be charged two or more overdraft fees.
THREE: Overdraft Protection isn't free. If you use another account for overdraft protection you have to pay a fee for them to use your reserved money. It could cost up to 30 dollars each paid overdraft anyway.
FOUR: Currently as of October 2014, you can overdraw your account up to 5.00 with out penalty.
FIVE: Finding another bank is the best option. And read all the fine print!!!
-Ayame
Stacey
Texas,What a load of crap
#3Consumer Comment
Tue, January 21, 2014
Online, atm and phone balances are not accurate. Keeping an accurate CHECK REGISTER and RECONCILING YOUR BANK ACCOUNT are the only way you can ensure your bank account will not overdraft. YOUR FAULT not the bank's fault. Grow up or keep your money under your mattress.
And NO I do not work for this bank, am not paid by any bank nor do I have any interest in anything doing with banks. YOU need to learn to take responsibility for your own actions.
