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Fifth Third Bank / overdraft and other fees

1 United States Review updated:

My Paypal is set up so that when there is not enough money in my checking account, they will take the money off my credit card. My bank, however, thinks it’s funny to accept the bill from Paypal instead of deferring it to my card. This way, I overdraft my account. Then they charge me with anywhere between $37 and $99 in fees. This happens because someone will call me and tell me my account is in the red. Then I will go online and transfer money from my credit card to bring it above zero. (This time I had to max out my card to cover all of their fees.) Once it is above zero, and I’ve paid the cash advance fees for transferring from my credit card, the bank will charge me a “daily overdraft fee” which has been anything from $6 to $27. This will usually overdraft my account, starting the process all over again.

I went into the bank the other day and forced them to change my account so when there is no money in it, THE TRANSACTION IS DECLINED. This is how a checking account should work. He said he could set that up but I would have to come in every month and do it again. Excuse me?

I woke up today with another overdraft. A Paypal transaction that was from January (when I had money) was charged to my account. I went back to see how the ### this was possible and saw that my bank had rejected ONE of the Paypal transactions and overdrafted me in the amount of the rest. This is their idea of one last joke. I have been trying to close my account but can’t until all of the fees are paid off. The longer it stays open, the more fees they charge.

I HAVEN’T MADE ANY PURCHASES WITH MY DEBIT CARD IN OVER TWO MONTHS. And yet I get the “Overdraft Phone Call” every morning. Surprise!! Fifth Third Bank hates you even more today than they did yesterday.

Ra
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Comments

  • Sh
      4th of Aug, 2009
    0 Votes

    I agree with you and everything that you say. I think that there are a whole lot of unhappy fifth third customers.

    I began really analyzing my account which has been opened for 2 1/2 months and this bank has charged me $1800.00 in fees.

    Here is one example - on May 28, 2009 I had a balance of $791.00 in my account. I had a business utility check that I wrote for the amount of $672.00 that the bank cleared "highest to lowest" - then I had 3 ach withdrawals go through and the last one put my account in the negative $121.00. Here is the kicker. They withdraw the funds for the check - posting it to my account as paid. They then process the ach debits at a pop of $37 each for nsf fees and after all is said and done, they change their minds and bounce the check for $672.00, along with all of the other transactions for that day.

    Long story short - I had 791.00 in the account - the only things that were paid were 2 ach debits for $100 each - and another for $40.00 that is a total of $240 that was paid - and when they were through with my account for that day I was in the negative $325. The entire activity for that day was $912.00 - I had 791 in the account - that is a difference of 121 that I was short, however with there completely unethical way of doing things only $240 were paid and the rest was in fees and return checks.

    How in the world do they get away with this? They think that because they hand you a 45 page policy booklet that is smaller than a postcard and nearly impossible to read with out a magnifying glass that basically they can get away with anything because their policy basically states - sorry about your luck but we can find any angle we deem fit that best benefits our pocketbook and leaves your account in the red and there isn't a darn thing you can do about it, they shrug their shoulders and continue to rip off other unsuspecting fifth third account holders.

    Shirley

    drsandco@yahoo.com

  • Em
      5th of Feb, 2010
    0 Votes

    Oh yes 53 Bank (Fifth Third Bank) pimps their customers to line their pockets. Rather than deducting payments as they come in- by the time of purchase, for example, they take the highest amount out first and then the kids lunch money out last- by their prioroty.

    As a result of their policy they returned 3 $10 dollar or less purchases and hit us for over $100 and then added daily hits and when you want help with your account before a cancelled purchase hits they make you let it go through before you are allowed to dispute it and as mentioned many other manipulations e.g. paypal related issues of not giving paypal their authorized deduction... Thus racking up hundreds a month for unsuspecting customers. If they are the 2nd largest bank in the entire midwest with HQ in Ohio is is not difficult to wonder how much of their 233 billion 'under management' has been stolen through unethical practices. It really makes you wonder how the state od Ohio has let them rape and pillage their own citizens and fleece the midwest.

    The question is how to take the CEO to task as they are currently doing at Bank of America.

    Before you open an account be sure to ask the order of processing checks.

    TCF is another ### dog but does not hit a person 10 times but makes it miserable to use your own money with long waits for checks to clear and handcuffed manager. Some banks pay commissions or bonuses on ODs.

    When will the government get the gumption to file lawsuits against 53? when enough of us complain. SEE LINK BELOW TO OTHER COMPLAINTS ABOUT FIFTH THIRD BANK
    A CLASS ACTION LAWSUIT IS DUE BACK WITH AN ATTORNEY WITH NOT GHOSTS IN THE CLOSET THAT WON'T SELL OUT SINCE THE SETTLEMENT COULD BE IN THE BILLIONS AND THE LAWYER COULD GET PAID REAL WELL ON THAT. OR A WANNABE UP AND COMING POLITICIAN - ATTORNEY GENERAL COULD BE THE UNDISPUTABLE BULLET NEEDED TO WIN BIG.

    Below is an excerpt from Wikipedia (encyclopedia of almost everything in the world... http://en.wikipedia.org/wiki/Fifth_Third_Bank#Community_Outreach

    Please read #4 below. Can you tell me what’s up with that? And all the other MAJOR Crap.

    References
    1. ^ a b c Fortune 500 2008: Fifth Third Bancorp - FITB
    2. ^ "Fifth Third Bancorp Annual Report 2006 (PDF)". Fifth Third Bank. 2006. http://www.53.com/wps/wcm/connect/resources/file/eb7f630e1270811/About53_IR_annualreport_2006.pdf?MOD=AJPERES. Retrieved 2007-06-22.
    3. ^ Press release
    4. ^ a b c "Fifth Third Bank History and Expansion. Fifth Third bank is known for manipulating customer's bank account to maximise the possibility of collecting overdraft fees. They have been known to hold on to deposits to insure that these deposits cannot be used to cover expenditures. Even though you could withdraw the money immediately Fifth Third bank will keep the deposit pending allowing expenditures made with ATM, Checks, or Debit purchases to apply to the account well before the deposit in order to collect overdraft fees. (PDF)". Fifth Third Bank. 2005. http://www.53.com/wps/wcm/connect/resources/file/eb2ff20d63e2cbb/About53_History.pdf?MOD=AJPERES. Retrieved 2006-09-01.
    5. ^ Adams, Cecil (2002-01-18). "The Straight Dope: What gives with Fifth Third Bank?". Chicago Reader. http://www.straightdope.com/columns/020118.html. Retrieved 2006-09-02.
    6. ^ Dash, Eric (2007-01-19). "Data Breach Could Affect Millions". New York Times. http://www.nytimes.com/2007/01/19/business/19data.html?ex=1326862800&en=30c7d334eeb8f966&ei=5088&partner=rssnyt&emc=rss. Retrieved 2007-04-24.
    7. ^ "T.J. Maxx data theft worse than first reported". Associated Press. 2007-03-29. http://www.msnbc.msn.com/id/17853440/. Retrieved 2007-04-24.
    8. ^ "Top 10 Phish Scams". McAfee. 2006-09-01. http://www.mcafee.com/us/threat_center/anti_phishing/phishing_top10.html. Retrieved 2006-09-01.
    9. ^ "Fifth Third Bancorp Buys R-G Crown Bank". Associated Press. 2007-05-21. http://biz.yahoo.com/ap/070521/fifth_third_acquisition.html?.v=3. Retrieved 2007-08-16.
    10. ^ "Fifth Third still committed to First Charter purchase". bizjournals.com. 2008-01-25. http://www.bizjournals.com/charlotte/stories/2008/01/28/story5.html?ana=from_rss. Retrieved 2008-04-03.
    11. ^ "Fed Approves Fifth Third's First Charter Buyout". bizjournals.com. 2008-04-16. http://dayton.bizjournals.com/dayton/stories/2008/04/14/daily23.html?ana=yfcpc. Retrieved 2008-04-16.
    12. ^ "Fifth Third Bancorp acquires First Charter". Banking Business Review. 2008-06-09. http://www.banking-business-review.com/news/fifth_third_bancorp_acquires_first_charter/. Retrieved 2008-06-30.
    13. ^ "Fifth Third to Expand Presence in Atlanta with Branch Purchase from First Horizon". Fifth Third Bank. 2007-09-25. https://www.53.com/wps/portal/news/?New_WCM_Context=http://www.53.com/wps/wcm/connect/FifthThirdSite/About+53/In+the+News/Press+Releases/2007/Press+Releases+092507. Retrieved 2007-10-10.
    14. ^ "Fifth Third Issues Statement Regarding Cancellation of First Horizon Branch Sale in Atlanta". Fifth Third Bank. 2008-02-08. https://www.53.com/wps/portal/news/?New_WCM_Context=/wps/wcm/connect/FifthThirdSite/About+53/In+the+News/Press+Releases/2007/Press+Releases+020808. Retrieved 2008-02-08.
    15. ^ http://www.fdic.gov/news/news/press/2008/pr08109.html
    16. ^ http://www.post-gazette.com/pg/09080/957219-28.stm
    http://www.foxbusiness.com/story/markets/industries/finance/fifth-bancorp-advent-international-announce-fifth-processing-solutions-joint/

  • Th
      17th of Jul, 2011
    0 Votes

    Check out this video of a recorded call I made to Fifth Third Bank. It's animated and the story text may be a little fast, so just pause if you must, but it explains the story.
    http://www.youtube.com/watch?v=epkw-OLxKYw&feature=channel_video_title

  • Th
      20th of Sep, 2011
    0 Votes

    Hello, Hello and Hell at 5/3 Bank. A new system was put in to service for automatic payments. This is the worst system that I have ever seen. Now I have to do 3 times as much work to transfer moneys than before. Now they cheked on when my bills are due to be payed and they will pay it automaticly five days ahead of time. So Iwill not be late. O. K. but changing my schedual of payment? Whos money is it? It is mine. So, change back your system to be more friendly and let me decide when I want to pay it. My dear friend who is an officer at 5/3 told me, she has trouble with this new system and the transactions. If she has problems what do you think I have? I'm computer iliterate, very, very slow. I was in construction before my retirement. I built ### houses and now I feel like I'm they are ### on me. All I see is ### holes. They all tell me how much they like this new system and everyone else also. I think they are trying to feed me more??????. Please get it together and leave the old system alone. Us seniors don't realy care about the new crap you installed. Besides I feel you are confusing us so you can make more moneys on the late or over drafts. I have been banking with this same bank for 35 years here in Island Lake, Ill. The employees are nice but the upper management suck. My picture just for you ### holes.
    Thanks but no thamks.
    Thomas T. Bors.
    thomasbors@aol.com

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