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Fifth Third Bank / overdrafts

1 7210 Tryon RoadCary, NC, United States Review updated:
Contact information:
Phone: 9197932540

I can not even believe my present situation.

I loved First Charter. In 6 years, it was financial bliss and nothing ever bounced or caused issues. The service was always fantastic, and I could NOT complain. In fact, I bragged ALL THE TIME. Then we get a letter that they have been purchased by this so called "bank."

Everything seemed fine until our funds were a little low. That's when the anguish began.

They bounced my rent check (first time in 3 years of renting) BECAUSE their policy is to process DEBITS first, deposits second! A deposit well over the amount was made MINUTES LATER. How is this fair? They rejected the check then proceeded to charge me $132 in NSF fees. I went to the bank branch (crying may I add) and demanded an explanation. They could not even tell me how any of it made sense, so they refunded me $99 of my money. I then had to take a certified check to my rental company tacked on with $80 in fees.

After that, I was paranoid. On Wednesday the online account was positive. The next day it was negative $138 due to overdraft fees DERIVED FROM A PENDING TRANSACTION. But because of how they process, again I was charged $165 in fees. I had my mom bail me out and deposit $180. She is 62 years old and should not be dealing with my stress. The teller told her since it was 11am, and cash, it would post immediately. So we pull up my account online and it's positive $43. A sigh of relief because THIS BANK CHARGES YOU $6 PER DAY YOU ARE NEGATIVE. Not so. They processed it the next day but it was EATEN UP WITH FEES by that point. So it was negative 88 dollars and now I owe my mom 180 on top of that.

I go to the local branch hysterically crying and no one can help me. They said because they credited me $99 back last week, that was all they could do. So I closed my savings and 2nd checking account on the spot. If our checks weren't being deposited in 5 days, You can BET I would have closed it RIGHT THEN.
So Thursday, mom deposits $100 to fix the account- AGAIN BEFORE 2PM. The account was positive.

This morning, we're negative $28. Why? A pending transaction from 12pm Wednesday (Today is Saturday) that has sat for days.There was MONEY IN THE ACCOUNT TO PAY FOR THIS. But AGAIN... they processed my debits first and obviously mom's deposit did NOTHING again.

I have been on the phone with this so called bank and what an unsympathetic group. I begged for someone in a suit with some clout, she said they didn't have access to that person. Basically their attitude was S.O.L. I couldn't believe it.

So now we're in the hole $26- and this group of idiots have cost us somewhere around $450 - not to mention I took 2 days off from work to open a new account with a bank. I have never been treated so unfairly in my life, and I have already left voice mails with a few consumer protection lawyers. This bank has ONLY been here in NC since June 9th.
My statement makes absolutely no sense and I'm not taking this lying down. If you LIKE to have money, You had BETTER NOT BANK HERE.

Sh
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Comments

  • Ch
      23rd of Aug, 2008
    0 Votes

    I am interested in starting a class action law suit against fifth third bank. I think their policy on overdrafts are very unfair. I was burned by them in a similar situation. My email address is charles.jones@techtn.com. If anyone else you know is interested in getting involved please feel free to have them contact me.
    Thanks
    Charles

  • Ke
      23rd of Oct, 2008
    0 Votes

    This same thing has happened to me just recently. I am on board to support you and anyone else with going forward with a class action lawsuit. Someone has to put a stop to their bad and unethical practices. Bank of America had a class action lawsuit against them for the same thing that Fifth Third has done. The consumers won that lawsuit. I am on board to support whats right.

  • Ly
      13th of Jan, 2009
    0 Votes

    I would gladly join in with a class action suit against Fifth Third - like you I was a First Charter customer - and no one ever told me about the charges they would put on the account and they didn't bother to give me the overdraft protection - and like you I deposited cash which should have been immediate -then made a payment online that night but they clobbered me anyway - with overdraft fees - then when I complained they put the overdraft back on - I paid the over draft fees, and they didn't show up for days so i overpaid - they then charged me for the 'overpayment' and it took many calls before someone fixed that -they took out payments for what I overpaid them - they are horrible and I am moving everything to a credit union - no more banks for me - they got enough of my tax money now they want to bleed me to death with hidden fees -which I understand they need to tell you about up front -

  • Le
      20th of Jan, 2009
    -1 Votes

    BELOW IS A RESPONSE TO A COMPLAINT I FILED WITH BBB IN WHICH MS RICH FROM FIFTH THIRD RESPONDED TO MY INQUIRY ON WHY PENDING TRANSACTIONS WOULD BE BASED OFF OF THE LARGER AMOUNT AND NOT THE DATE AND TIME OF THE TRANSACTIONS. OBVIOUSLY IT'S TO REAP AS MUCH OVERDRAFT FEES POSSIBLE. PLEASE SEE MY RESPONSES ALSO. I HOPE THIS PROVIDES A CLEAR CONTACT WITH PHONE NUMBER TO THE FIFTH THIRD REPRESENTATIVE WE CAN ALL USE FOR OUR COMPLAINTS:

    Dear Mr. ####,
    We received a copy of the complaint you filed with the Better Business Bureau, regarding the overdraft fees assessed to your checking account. We appreciate the time you have taken to document your thoughts and concerns regarding this matter.
    When you initiate a transaction using your debit card, the merchant sends the transaction to us for authorization. If the transaction is approved the authorized funds are placed on hold and appear as a pending transaction, ensuring the funds remain available until the transaction is finalized. Once the transaction is complete, the actual amount will post to the account.
    We do not assess overdraft fees on pending transactions. However, pending transactions and posted transactions will reduce your available balance. If your available balance is not sufficient to cover the transactions, which post to your account, they may be subject to overdraft fees. Effective August 8, 2008, the per item overdraft fee is based on the number of occurrences in the last twelve (12) months. For the first occurrence, you will be charged $25.00 per item. For the second through fourth, the fee is $33.00. The fifth occurrence and higher is $37.00 per item.
    Items will post to your account in the following order: we process deposits first, followed by debits, from highest to lowest to ensure that larger items are given higher priority. I have enclosed a copy of our Rules and Regulations handbook that you received when opening the account. Page 4, section 12, provides additional information regarding the order in which items may be paid.
    You have several options available if you wish to review your account balance and pending items including the Internet at www.53.com, or by calling our Customer Service Department at (800) 972-3030. Should the account become overdrawn, we also mail an overdraft notice to inform you of the occurrence, which includes a detailed breakdown of the days transactions.
    On December 23rd, your available balance was $456.21. An item for $24.96 was authorized and pending on your account. Eight (8) items totaling $468.62 posted to your account. Therefore, your account was negative ($37.37). Due to insufficient funds, four (4) overdraft fees totaling $132.00 were assessed to your account and posted the following day.
    I can assure you it was not our intention to cause you any undue hardship and we sympathize with the difficulties you have encountered. However, the fees assessed to your account were not the result of a Bank error. It is ultimately your responsibility to ensure your account has sufficient funds to cover the transactions you have authorized. As a valued customer, we have reversed fees totaling $198.00 in the past twelve (12) months. Therefore, at this time we are unable to waive additional fees.
    You may want to consider adding overdraft protection to your account. We offer several types of overdraft protection. We can connect a second existing account such as a savings account, or you can apply for a credit card or equity line, which can be connected to your checking account in order to transfer from in an overdraft situation. If you would like to explore one of these options please contact our Customer Service Department at (800) 972-3030. They will be more than happy to assist you.
    On behalf of the Bank, please accept my sincere apologies for any inconvenience this matter may have caused you. We strive to provide professional and accurate information to our customers and I regret you feel the need to close your account. Mr. Omar, you are a valued customer and we sincerely hope you will continue using Fifth Third Bank for your financial needs in the future. If I can be of further assistance to you please contact me at (513) 358-9158, or toll free at (866) 360-5353.

    Sincerely,
    Kathleen Rich
    Consumer Resolution Specialist
    Office of the President

    I RESPONDED:

    Better Business Bureau:
    I have reviewed the response made by the business in reference to complaint ID 7402645, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
    Although I understand the process implemented by Fifth Third Bank, I feel the best practice process is not being followed therefore contradicting their concern for their customer. As indicated in the response, the transactions are covered by larger amounts first which in my situation prompted a better result for the institution in assessing a maximum amount of fees. If the transactions were posted per the date and time of the usage, the larger amount may not have been paid, however, the result would have been less overdraft fees than the amount assessed. In additon, the referenced reversal of overdraft fees were not primarily the fault of myself or my spouse and as a result, the Regional Manager, through the Branch Manager, made a determination to reverse the charges. At that time, I requested that my accOunt was documented that this reversal would not impact my account negatively in the future due to the misleading information posted on the ATM machine and communication from their own personal bankers (which the personal banker that assisted us was no longer with the branch/or company). Therefore, for this past incident to be taken into consideration on determining if these current fees would be reversed is not a valid argument. Unless my request and confirmation from the Branch Manager was not followed through upon, the documented notes should be accessible. In addition to Ms. Rich's sincere concern for losing a valued customer, this may be a point of view from her perspective, but not from the location in which handled my situation and account. It was decided by my spouse and me to close this account when this last interaction occurred and my decision remains today. The account will be closed this weekend, since all pending transactions have cleared, but in now way should this indicate that this matter has been resolved from my perspective. This should be a concern for Fifth Third's Corporate office if they truly value their customers.

    Regards,
    Leonard

    BELOW IS THE RESPONSE:

    Dear Mr. ####,
    We received a copy of the complaint you filed with the Better Business Bureau, regarding the overdraft fees assessed to your checking account. We appreciate the time you have taken to document your thoughts and concerns regarding this matter.
    On behalf of the Bank, I would like to offer my sincere apologies for any inconvenience this matter may have caused you. We strive to provide professional and accurate service to our customers, and I regret if all the service you received did not meet the same high standard. However, we stand by the response conveyed to you in the previous letter sent on January 7, 2009. Our position on this matter has not changed.
    We confirmed that the fees assessed to your account were not the result of a Bank error. It is ultimately your responsibility to ensure your account has sufficient funds to cover the transactions you have authorized. Therefore, we are not willing to waive additional fees at this time.

    Mr. Omar, you are a valued customer and we regret you feel the need to close your account. If I can be of further assistance to you please contact me at (513) 358-9158, or toll free at (866) 360-5353.

    Sincerely,
    Kathleen Rich
    Consumer Resolution Specialist
    Office of the President

    BELOW IS MY RESPONSE TONIGHT:


    Better Business Bureau:
    I have reviewed the response made by the business in reference to complaint ID 7402645, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.
    Good evening,
    Although Ms. Rich makes a valiant effort on providing a concerning demeanor, her financial institution does not reflect her views of the customer service she portrays.
    I've reviewed Page 4, Section 11 (not section 12 as she stated on her first "final" response) of the Rules and regulations handbook provided. In the first paragraph it clearly states what I have stated and what Ms. Rich has stated. It does also state that the "Bank has the right to decide the order of the items that will be paid..." However, the very next sentence starts out "Bank may select any payment order at any time, which may include paying the largest items first..." If a financial institution values their customers, why would they decide on the most detrimental solution when they may select an alternative. In addition, the ambiguity of the contract is apparent therefore holds the contract as subjective.
    Ms. Rich has represented herself and the corporation as expected, however, she is obviously unaware of the actions of the branch in which handled my situation.
    I have paid for these absurd fees as soon as it was recognized, but in no way should it be a confirmation of my agreement to this institution's actions.
    I am requesting that this complaint be reviewed further and during the review, the ambiguity of the contract be addressed.
    I look forward to your response.

    Regards,
    Leonard

  • Me
      2nd of Feb, 2009
    +1 Votes

    5/3 Mt.Pleasant MI. bouncing checks that cleared two days prior, causing a domino effect on other checks not clearing. In office scam I believe. Changing the bank statements, I printed off daily and they will change when they are scamming you. Turning them in to the FDIC. BANK FRAUD!!!

  • Ja
      19th of Feb, 2009
    +1 Votes

    53 is the worst bank I have ever delt with they would not even go over my account they said it was my fault and would not waive any of the over draft fees which most other banks would do...

  • Ja
      19th of Feb, 2009
    +1 Votes

    53 does not want to help its clients so i am done with 53

  • Kr
      6th of Apr, 2009
    +1 Votes

    They did the EXACT same thing to me. It all started at Christmas while I was on vacation I ended up in the hospital. The day I returned I deposited $1450 into the bank. The next day the account was already negative and after 1 week I became negative $864 in CHARGES ONLY! Nina.birtolo@53.com is the one you can blame if you live in Florida!

    They will be the next bank to sink, and they obviously have no idea. Obviously by the dates of all the complaints online, its becoming more frequent and more obsurd by the day. Good Luck Fifth Third, Its companies like this that killed the Economy to begin with!

  • Cl
      31st of Aug, 2009
    +1 Votes

    Do something about it here...

    They have stolen over 35Billion dollars of our money in the last year and it has to stop. Read on...

    I am looking to start a class action law suit but need your story http://closeyourbankaccount.blogspot.com/

  • Cl
      31st of Aug, 2009
    0 Votes

    By the way they are trying to hike up the 33.00 to 35.00 and 37.00 per insufficient funds. This has to stop there is no reason this should be even close to 10.00 let along 33-37.00 plus daily over draft fees.

  • Ia
      11th of Dec, 2009
    0 Votes

    There is a law suit pending...potential for a class action suit against Fifth Third...See this link for more details

    http://www.citybeat.com/cincinnati/article-16707-mr-waynei-would-like-to-join-this-class-acti.html

    Also, I would highly suggest that ever individual that has experienced these problems with Fifth Third contact your states Attorney General.

    They have and are currently doing the EXACT same thing to me and I am attempting to get in touch with the attorney that filed the suit. Keep the information coming.

  • Ia
      11th of Dec, 2009
    0 Votes

    This firm is looking for individuals to file a class action suit against Fifth Third

    http://www.lieffcabraser.com/contact/contact-fifth-third.htm

    When you click the link it will state
    "Please use this form to contact an attorney at Lieff Cabraser regarding our investigation into customer complaints about RBS. Lieff Cabraser agrees to protect your name and all confidential information you submit against disclosure, publication or unauthorized use to the full extent under the law."

  • A5
      7th of May, 2010
    0 Votes

    I also was a First Charter customer and never had any problems with them. Now Fifth-Third has charged me $390 in overdraft fees from 5/3-5/6 because a check for $200 cleared that they allowed to clear and then reversed the next day! When I asked about lowering the fees, they practically treated me like I was a dead-beat and told me they could talk to the regional manager, but didn't think it would be adjusted. Nice customer service, huh?!!!

  • Mi
      28th of Dec, 2010
    0 Votes

    I have one that takes the cake with these people. Someone at the banking center gave someone my saving account info when they called. these people then put money into my account. It was a nigeria based scam. So they put 12k in my account but the Merchant services took the money back then some. When I got her Merch services all taken care of and I closed that savings account " Bank Protection" Reopened the account I closed and put a 500k hold on it and my other 2 accounts. Then they Closed the other 2 accounts while these scam artist took money from my savings. I have not been able to use my accounts in over a month. I called and the Branch Manger told me that he was able to get my money back ( I am in Texas and my branch is in bay city Michigan.) so he had hopped to have the money to me last friday ( chrismas Eve) I called today and he is on vacation till the 30th meanwhile the Cashier was totally rude with me and told me I have to be present for a official Check to be issued to me since they have closed my Accounts. Mind you Bank Protection tells me that the banking center closed the account the banking center says Bank Protection and I had no access to any of my money for the holidays.


    On a note I did receive a notice in the mail about a class action law Suit in regards to 5/3 over draft but here is what takes the cake.


    I had an account that was Charged off of 5/3 back in may when I took ill. So when I got this mysterious deposited ( the 12K was broken up into 4 payments) I called the depositor ( info they gave the bank) and they said it was authorized so I payed off the charged off account. When it came up a week later that the money was put in they illegally I had to pay the Merchant company every penny of it back. so the Charged off account that I had planned on paying off was paid out of the account that had the fraud money put into it. So 5/3 told me that since that account had fraud active they are not going to show the charge off as paid. Even though I have in writing from the Merchant company that all money owed to them are paid and 5/3 has not returned the money to my accounts or attempted to pay the Merchant company this money. Yet no one will answer me what has happend to this money. I got its not your money to pay bills with and when I explained that I had to barrow money from my family to pay this company the money I used. They said they dont know but they are not going to show the account paid.


    and still they have not answered my question if the company says its mine why does 5/3 think they have the right to keep it?

  • Su
      22nd of Oct, 2013
    0 Votes

    Fifth Third Bank has been a nightmare even making us so sick with stress. My husband is a liver transplant survivor and Fifth Third Bank has made him ill. i WOULD BE VERY INTERESTED IN A LAWSUIT. HELP! SUSAN IN SARASOTA, FL. MICHAELSFL5@AOL.COM

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