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Fifth Third Bank / predatory charges!

1 P.O. BOX 630900Cincinnati, OH, United States Review updated:
Contact information:

My gripe is that on the 04-04-08 my wife and I had the sum of $392 in our checking account, last weekend we done things and went places the same as any Kentucky resident would do, well on Sunday night we were left with a balance of $165 in our account and I was the lucky bidder on eBay to the amount of $131. Being straight up I paid the amount owed realizing that we'd have $35 left in the account and with payday being on Wednesday this seemed ok. Well to my shock and horror and an ear bashing from the wife she'd checked the account on Monday morning and our Vonage bill had come out also leaving us with the grand total of $4 in the account. Meanwhile our KY Utilities bill was due also and this is where the nightmare begins. As there were insufficient sums in the account it was not paid and we were charged $33. I can live with that yet the Fifth Third Bank has charged us overdraft fees on an additional 11 items with charges totaling $396!

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Comments

  • Ma
      7th of May, 2008
    0 Votes

    This happened to me also, Although I had much more in my account when I deposited $4, 000.00 in my account on Monday Morning. 5-05-08. The deposit is held until the next morning. meanwhile I had about 2, 300.00 in incoming debits all in varing amounts. The bank "Batched them all and now I was overdrawn. They charged me 264.00 in fees and did not even touch my overdraft protection. Some of the debits could have cleared, but they just lumped them all together and screwed me. Well, I am pulling my personal accounts, my IRA, my business accounts, and whatever else I have with them.

    Bye bye Fifth Third.

  • Di
      12th of Sep, 2017
    0 Votes

    Whereas you ought to have been more careful regarding automatic bill-payment withdrawals, I sympathize with your having been charged multiple (lumped) fees for what ought to have been regarded as a single overdraft event. My complaint is similar, but related, in that Fifth Third Bank charges very high interest, relative to prime, to credit card customers (13.99 / 24.99% to me currently), uses customers' deposited funds at no cost to them, then charges multiple service fees within debit card accounts: $11.00 Monthly Service Charge; $3.95 World Debit Monthly Fee. And whereas the monthly service charge is waived if conditions are met ($500 per month in direct deposits, for example), I still doubt the equity between fees and cost of service, virtually all of which is done electronically. Or have electrons just become that expensive? Here's the (very rough) math: If I have on deposit, on average, $1, 000 (not a lot of money these days), and Fifth Third charges the lower credit card interest rate (13.99%; up from 12.99% a year ago), they make well over $1, 500.00 per year on my money, while charging me almost $50 per year just to use the debit card, not to mention the nearly $1, 500.00 or so per year they're charging me on credit card balance. Add to that the transaction fees they charge merchants (4% on $20, 000 of transactions = $800; that's $3, 800.00 per year for one customer's two stinkin' cards!!! I plan to pay off my 5/3 credit card asap; shop for a better provider and quit using credit / debit cards whenever possible. I'm fed up with feeling like this bank has me by the short hairs.

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