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Fifth Third Bank / rip off

1 Gallatin PikeMadison, TN, United States Review updated:
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I have read reports submitted against Fifth Third Bank Corp in regards to their methods of creative transaction alterations to unfairly create debits against member's accounts... I AGREE 100% and feel there should be a Class Action Lawsuit against Fifth Third Bank Corp.

Personal Incidents-

1. Fifth Third has withheld debit transactions for extended periods of time then strategically batch posted them while delaying deposits to overdraw the account. They then proceeded to initiate overdraft frees per line item.

2. Direct Deposit- Payroll Direct Deposit is to be posted and available for transaction the day of the posting. On Aug.30, over $4, 000 from payroll was direct deposited into my account. On that day, resulting from their creative transaction management methods, one of their batch postings of debits took the account negative and was overdrawn by approx. $200. Fifth Third did not credit my account of the direct deposit payroll. As oppose to crediting the account, they placed the funds that should be available from my direct deposit on hold.

It forced me to visit the branch office on Saturday morning to discuss the issues. I was told by the acting lead officer that the reason for the direct deposit being place on hold was because she personally placed the account on hold because of the overdrawn status several days earlier. During that discussion with her, I later understood, thru her own admission, that if I hadn't physically visited the office to resolve the issue, my account would still have been on hold status with no funds available.

I then asked a simple question and attained an answer that clearly points to Fifth Third Bank Corp. practicing unethical transactions at the cost of their members: My question was, 'when an account is place on hold, is it done manually, as in by a person and not systematically'; her response was 'yes'. I then asked, when an account is overdrawn, are overdraft fees debited from account thru automation, as in automatic thru their so called 'robust' system, her answer was 'yes'.

Finally my ending question to her and my point- In this day of technological marvels, why and how, from an ethical standpoint, can Fifth Third, or any other banking institution get away with running two systems (manual and automated) that clearly preys on members funds to benefit their organization.

Va
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Comments

  • 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.

  • Jg
      11th of Mar, 2009
    0 Votes

    I too have fell victim to Fifth Third's dishonest and unethical way of, what they call, business. I would love nothing more than to see that this institution gets what they deserve. If there is a class action against Fifth Third, please count me in.

  • Jp
      18th of Mar, 2009
    0 Votes

    I have posted severasl complaints and would like to file a personal complaint against them for losses and damages as well as a punative suit for unethical banking practices. Currently I just don't pay the fees and let them attempt to take me to collections, then dispute.

  • Pa
      24th of Apr, 2009
    0 Votes

    I argee with you . I have a problem with 5/3 Th charging overdraft fee for an account which I closed in Sept. 2008. They have put my name on ChexSystems. There wasn't any money owed at the time this account was closed. They also took money out my other accounts to put into this account. If you decied to take them to court count me in . They have bad customer service and over charge there customers. Someone needs to do something . I owe 1, 400 for an account in which I closed.They gave me no explaination how this could happen. Patricia A Luster

  • Na
      30th of Apr, 2009
    0 Votes

    I actually have had Fifth Third Bank overdraft my account for the second time from what I consider unethical practices. I overdrew $1.11 and was charged $465 in overdraft fees. This is how they do...I had debit charges on my account from THE DAY BEFORE a check for $50 came through which caused me to overdraw $1.11 (my mistake, but I had more than enough money to deposit the next morning to cover it, besides my direct deposit). I would have understood a normal $36 overdraft fee for that one item, but they said the check was 'pending' on the previous day, so in turn they tacked a $36 overdraft fee ON EVERY ITEM that day which total hundreds. How can they do this? This is the second time they've done this to me. They rearrange the debit items from most to least somehow, not the actual time they come onto the account. I work in billing at a very large corporation and we would be fired for rearranging anything on a ledger! From what I can see this is down right FRAUD.

  • Su
      1st of Jul, 2009
    0 Votes

    I've had about $700 stolen form me by this bank in a little over a year. I have a lawyer interested in bringing a class action suit against them feel free to contact me at sue53now@gmx.com for more information. Also to help join sueeasy.com and join the "fifth third bank - predatory..." case. It's a way to help get the class actionc ase against them moving and can help you to get your money back.

  • Ck
      3rd of Aug, 2010
    0 Votes

    this bank is a scam. i had several transaction made that shoul have been covered. they charged my last which the most first enabling me to overraft 4 small item which should have been paid. on top of that my account it -36.48 i was going to pay to off et the balance but they sai i would still have to pay overdraft. my account is set up to decline payment if there are not enough funds but yet they allowed charges to go thru... i will no longer use this bank. everrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

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