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Fifth Third Bank / predatory fees

1 United States Review updated:

We would advise consumers to avoid 5/3 Bank like the Plague! My husband and I were assessed $640 in overdraft fees from 2/24/09 - 3/11/09, which 5/3 removed from our account. Here's the story: admittedly, we weren't keeping as close an eye on our account balance as we should have, since we were out of town. 5/3 assessed a fee between $25 and $37 each time our account was overdrawn (a few times, the account was overdrawn by $2 and 5/3 assessed a $37 fee each time). When we returned from our trip, my husband deposited several hundred dollars into our account to cover the overdraft. Since the exorbitant overdraft fees from 5/3 were unexpected ($330 in one day), he did not take those into account. Thus, when 5/3 removed the fees from our account, THEY CAUSED OUR ACCOUNT TO BE OVERDRAWN AGAIN. My husband deposited more money to cover the overdrafts, and 5/3 continued to assess fees which they would remove from our account, CAUSING THE ACCOUNT TO BE PERPETUALLY OVERDRAWN. Furthermore, we were not notified of the charges for several days, which led to being overdrawn again. My husband considers this LEGALIZED EXTORTION. We have been 5/3 customers since 2000, but are closing ALL of our 5/3 accounts and taking our money to Chase Bank instead.

Da
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Comments

  • Me
      16th of Jan, 2009
    0 Votes

    Agree with everyone. This bank will change the rulese mid-game, slap you with fees, and then treat you like a piece of human garbage when you call. Their customer service reps might as well be robots programmed to demean you and refuse your every request. I've been dealing with one stinkin' "over limit" fee for over two months now... long story short, this fee is a result of some super predatory and unethical business practices on the part of Fifth Third... and I for one am totally fed up. My question is, what does it take to bring a class-action lawsuit against a firm for unethical practices? Or, if that's not possible, what type of lawyer should I look for to at least help me get my individual matter settled?

  • Mr
      11th of Mar, 2009
    0 Votes

    How's this...we closed our account because 5/3rd was gouging us and causing our account to go negative through fees that they did not tell us about until it was too late. Then, after closing our account, a once-a-year automatic direct withdrawal, that I had totally forgotten about, came through (what are the odds!) and 5/3rd of course, charged us a fee on a closed account! They had called to ask if we wanted them to pay the auto withdrawal. I said no, we just closed the account. The woman said OK and hung up. Then 4 days later, we get a call from the bank saying we were overdrawn!!! I called and said " huh!" She said the act of asking them not to pay the auto withdrawal was a charge-able action. They now were charging me a daily, ever growing, late fee even though my account was no longer at the bank. As a courtesy, they said they would waive most of it, but we still owe them $12 for nothing. Someone has to start a Class-Action lawsuit against these thieves. I call it a reverse bank robbery.

  • Mr
      11th of Mar, 2009
    0 Votes

    Yeah

  • Li
      12th of Mar, 2009
    0 Votes

    You need to bring your acct to a positive balance before you can close it, otherwise it will be charged off and then reported against your credit...

  • Su
      25th of Apr, 2009
    0 Votes

    I have lawyers interested in filing a class action lawsuit against Fifth Third Bank for Predatory Overdraft Fees and Unethical business practices. Please send your story along with and proof you may have to Sue53Now@GMX.com

  • Pi
      9th of Oct, 2009
    0 Votes

    Fifth Third Bank does not care about the customer.

    They do accounting backwards Highest to lowest clearing your account so they can maximize the fees to the customer. I had 32.00 in very small transactions clear - if they did accounting normal lowest to highest I would have had a 35.00 fee. Just one. But because they do it opposite it cost me over 400.00 in fees... plus 8.00 a day - for 20 days... I was unaware of the account going negatvie so that was another 160.00 - They would not refund ANYTHING. The Customer Service Person said - if you dont like it - Bank somewhere else.

    I contacted an attorney - they are preparing a lawsuit - if you also feel they are Predatory, and do unfair business practices you should also call...

    Lieff, Cabraser, Heimann & Bernstein, LLP
    One Nashville Place
    150 Fourth Avenue, N., Suite 1650
    Nashville, TN 37219
    (615) 313-9000

  • La
      26th of Nov, 2009
    0 Votes

    I'm not surprised at all and believe 95% off the horror stories about this "Free Checking" Crap that this 53rd bank claims they have! They are the most incompetent "Professional Bunch" of people I've come across in my 50 years of living! I started a bank account with them in July of this year because the company I work for has their business and payrole there, and was switching to Direct deposit. That was the beginning of the most disfunctional bunch of people I've ever met, customer service, local branch, etc. It started when I was charged 7 over draft fees on a debit card only, in the "pending status" when we all know that the funds are taking from the available balance immediately, but because they were in the pending status and one overdraft accured I was charged $198.00, and was told with a giggle that I was being charged another $132.00 at the end of the day and didn't know what for and wasn't even giving the opportunity to make it right!?!!??? After three months of arguing that the funds were there in (black and white) one of the overtures ($33.00) was put back with a note attached by one of the only people in the Cincy customer service center that obviously knew that something wasn't right. This person also E-mail her supervisor about this and I'm waiting for a responce. Also, I'm just getting started, Recently I wrote a check for $125.00 to a meat vendor on the 27th of October and the check was electronically withdrawn from my account 3 days later...O.K. no big deal...? Wrong the bank paid the check again 16 days later! I brought this to their attention...(thats funny) and showed that it was the same check number and the name on the check with the same date it was wrote (keep that in mind), of coarse my account was $3.98 over by of the day because of this and guess what...Yep, overdraft fees out the yeng-yang! I keep the minimun in this account because of their borderline illegal, and unethical business tactics. Of coarse I had to take off work, another $250.00 down the drain, to try to get this reversed and was told we'll (local bank) investigate it(?) and monitor your account and call you back each day and let you know what we can do for you...waiting, waiting, waiting. of coarse no reply! So I called the customer disrespect service and was actually help by the formentioned person I spoke about earlier and the fees were reversed along with one that was applied in July. Suddenly while at work I strangely get a call form my local bank in Huber Heights, Ohio, who said that they would monitor my account and call me everyday saying "well I got the overdrafts taking off because of the double cashed check, I was told by this person at the local bank that because it was longer than 30 days on the incident in July that nothing could be done about that?" not true...well needless to say I let her have it and she was actually left speechless. I in fact took care of it myself with the forementioned person, Her name is Vicki, and called her on it! She didn't know what to say and my next adventure is dealing with the check that was cashed twice...it was probably my fault for sending the same check # twice (what the @!#*)according to the last customer disrespect service non-english person I taked to ????? Keep ya posted ! (Is this the good stuff you go through with the great free checking bank they claim to be ?????) My wife and I can't purchase a damn turkey or I can't buy a new pair of work boots because we are so gun-shy to spend a dollar...! Anyone got a good attorney or a class action law suit I can jump on????? Any suggestions would be greatly appreciated...?

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