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Fifth Third Bank

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Overdraw Fees or Legalized Loan Sharking
Posted by Ba1337ed on 03/19/2008
MICHIGAN -- It no secret that many people get themselves buried in credit card debt. Hidden fees and secret rules make it easy to charge just that little bit too much that keeps you in debt for the rest of your life. Its not quite like being pushed off a cliff, but more like the scoot you dangerously close and grease your feet.

I decided to go what I thought was a safer route getting one of Fifth Third's debit cards. Debit cards were supposed to just draw from my account, so I wouldn't end up destroying my life with it right? Before signing up, I agonized over it and asked if there was any way I could end up getting in trouble with the card and she smiling told me that I couldn't- at least, thats what it seemed like. Misleading language must be in the training manual.

Well, my math slipped and I overdrew my account by $16 dollars on the 10th of March, 2008. Not four days later, and I find it has grown to $79 dollars, with an increase of 6 dollars of additional debt each day! Not to mention, I was not made fully aware of these repercussions until the 19th. Apparently, this was not the safe card I had been told I was getting.

Maybe I should've seen it coming, since something similar had happened to a relative of mine, but I thought that it was different situation. To summarize, Fifth Third has policies in place made to punish and strip money from those of low income. Going beneath $50 in savings allows them to begin drawing funds from your account due to it being 'insufficient' while overdrawing not only puts you in debt, but they don't even stop the debit card from functioning, allowing you to go DEEP into debt and charge you a great deal more than you borrowed.

I recommend avoiding these crooks and their war on the poor.

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Posted by Suusan B. on 2008-03-19:
There are no "hidden fees or secret rules" with a debit card. You are using it in place of checks to withdraw money from your checking account. If you withdraw more than you have available, then you will be charge an overdraft fee. It doesn't matter what you were told - - the answers to all of your issues are contained in the account holder agreement you received when you opened the account.

I, for one, am really getting tired of letters from people who overdraw their accounts and are in an uproar over the fees they are charged. If you are unable to maintain an accurate check register then you should not have a checking account.
Posted by Anonymous on 2008-03-19:
Amen Suusan!
Posted by Anonymous on 2008-03-19:
I, for one am getting really tired of people complaining about people complaining about over draft fees. If you don't want to read these complaints then don't. Nobody is sticking a gun to your head. I myself enjoy them immensely... almost as much as somebody complaining about Target's return policy.
Posted by bargod on 2008-03-19:
lol, Stew
Posted by madconsumer on 2008-03-19:
over draft fees are in place to teach us a lesson. sometimes people donot learn. and like some people, they must place blame on someone else, after all we owe them everything.

like wise stew, if our comments upset you, read on......
Posted by Suusan B. on 2008-03-19:
Speaking of Target - - did they revise their return policy? I'm curious because we didn't get one single complaint today!
Posted by Nohandle on 2008-03-19:
I'm sorry you are having problems with your account at Fifth Third Banking but I disagree with your statement:
Fifth Third has policies in place made to punish and strip money from those of low income. Banks will punish anyone for withdrawing more money than he has in his account. Banks are not charitable institutions and never have been. With enough reviews like yours people will finally get the idea..I guess.
Posted by Anonymous on 2008-03-19:
touche madconsumer...touche.
Posted by jktshff1 on 2008-03-19:
NoH...On the money!
Posted by Starlord on 2008-03-19:
Posted by Starlord on 2008-03-19:
What do you mean, I'm overdrawn? I can't be! I still have checks!
Posted by Anonymous on 2008-03-19:
I gotta admit that was a good one starlord.
Posted by Not fooled by you on 2008-03-20:
All of you Fifth Third employees can back off. I deposited my paycheck early one Saturday. Sunday afternoon I used my debit card while grocery shopping. Monday night (a holiday) I made an online payment. Tuesday morning, the thieves put thru the online payment and overdrew my account and returned the payment, then they put thru the debit card purchase and charged me for that overdraft, then they deposited my check. Racketeering at your finest.
Posted by GothicSmurf on 2008-03-20:
Deposits that are NOT cash usually take between 3-5 days to clear. Meaning that the money isn't in your account for a few days. It's that way with all banks.
Posted by Not for the narrow minded on 2008-04-21:
I hope you all don't really think that the overdraft fee "is a punishment by the bank." You are obviously not as smart as you think you are when it comes to money. The bank doesn't give a rat's a$$ about you or anyone else for that matter. 10.1 billion dollars a year in overdraft fees is far from a punishment.
And why should the bank reap the rewards of billions? Because ignorant people just don't listen. I just don't see how you guys can think that what they are doing to people is right. You want to charge me fees? Sure ONCE is FAIR. Heck, you can even charge me $100 for that ONE TIME.

But don't authorize transactions when the funds aren't available. We all know you have the ability to DECLINE the transaction SO WHY DON'T YOU DO IT WHEN IT'S APPROPRIATE?
Why do you think your debit card has a daily limit? Because that is all the bank wants to dish out in order to pay transactions they can put overdrafts on.

I meann, enough is enough. Really, it makes me sick how they allow this so they can profit in the billions.
Posted by Patch24680 on 2009-01-30:
I don't mind the initial overdraft fee. It's the daily $6.00 fee they keep charging until your fees are all paid up!!!! FIFTH THIRD BANK ARE CROOKS!!!!!
Posted by Patch24680 on 2009-01-30:
I don't mind the initial overdraft fee. It's the daily $6.00 fee they keep charging until your fees are all paid up!!!! IT CONTINUES TO SNOWBALL!!!! FIFTH THIRD BANK ARE CROOKS!!!!!
Posted by BokiBean on 2009-01-30:
Going under $50 allows them to begin drawing funds from your savings account as being insufficient? Wha????? If that's true, that's a bank to avoid just based on that alone.

People don't remember the days when banks were institutions that were in place to PROTECT your money and not think of ways to dip their theiving little fingers into it.
Posted by Cee Graves on 2009-05-06:
These banks want to take our government tax money to get them out of THEIR debt and then again TAKE the taxpayers money whom they hold in accounts in unfair fees. A slap in the face of Americans. How can the meltdown of the American financial system be stopped if banks keep taking consumers money? Fifth Third Bank has proven to me, my family and friends to be one of the worst banking institution to trust with our hard earned cash.
Posted by Anonymous on 2009-09-17:
Any bank if going to charge you if you overdraw. Blame yourself for your negligence.
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Credit Card Application Security
Posted by JasonZ on 09/14/2010
I received a credit card application that offered a 0% APR on balance transfers and mailed it to 5th/3rd in the enclosed postage paid envelope on August 20, 2010. Having not heard anything from 5th/3rd, I became increasingly concerned, considering it has my social security number as well as other personal information and today is September 14, 2010.

I called today only to be treated as though I had done something wrong. The customer service person told me if the offer period expired, the application would be shredded and I would not receive any notification. I then told her I was extremely worried about my personal information being in the wrong hands and she told me, "You should have applied online if you are concerned".

I then explained that the website was down on the night before it was mailed (as it still is www.apply53.com) and I was of the impression that a postage paid preprinted envelope would make it to its destination.

She responded with "You should have called, we are open until 8PM Eastern Time". There was absolutely no concern as to the security of my personal information, contrary to what the website states. Furthermore, when I asked her advice as to what I should do next, I was told I could call back everyday until it comes in.

In twenty-five days I would think an envelope could make it to Australia and back. I am thoroughly displeased with 5th/3rd, will NEVER do business with them, and will ALWAYS recommend another financial institution over 5th/3rd.
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Posted by FlShopper on 2010-09-14:
It's not the bank's fault that the envelope hasn't arrived; take it up with the post office. Those postage paid envelopes are notoriously slow; they don't get treated like first class mail.
I agree you should've done the application online if you were concerned about sending your personal information through the mail. It could just have been bad timing that it was down every time you tried to log on(I just tried that website and there seemed to be no problem with it), but
if they did give you an option to do it over the phone, maybe that would've worked better for you.
Posted by rockfishing on 2010-09-15:
What shopper said, the credit card company has no control on how fast the mail moves. If it is going overseas than that is a longer delay.
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Rip Off Check Cashing Fees
Posted by Gusladders73 on 12/12/2011
FT MITCHELL, KENTUCKY -- Today I went to 5/3 bank to cash a $60 check I received from a friend. I was informed by the clerk that since I did not have an account, although my friend did, there would be a $4 fee deducted. even the manager declined my request to fore go this fee on such a small amount. I argue that since it was written on a 5/3 account that they should honor the full amount. or perhaps charge the account holder the fee. my bank does not penalize a person for cashing checks I write when cashed at my bank. 5/3 sucks.
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Posted by DebtorBasher on 2011-12-12:
I don't know of any bank that will cash a check for someone without having an account with them. It doesn't matter what back the check is written from.
You mentioned you have a bank account at another bank, why didn't you take it your bank to cash? The reason you have to have an account with the bank cashing your check, is because they hand you the cash and if the check bounces, the bank takes it from your account, since you are the one that got the money. If they didn't, they'd be out the cash. I'm surprised they were willing to cash if for the small fee of $4.00.
Posted by madconsumer on 2011-12-12:
it would seem they would cash a check written on their bank. the days of friendly banking are long gone!! i too agree the account holder should be charged the fee.

very helpful.
Posted by Churro on 2011-12-12:
I totally agree that any redemption fee should be paid by the account holder since they are the customer of 5/3's service or lack thereof. It should be illegal for a bank to charge the person cashing a check a fee for a check drawn against one of its own depositor's account.. That's total lunacy.
Posted by clutzycook on 2011-12-12:
OP, I don't know what bank you use, but most of the big banks went to this method a long time ago. If you have an account with another bank, why aren't you cashing the check there? Maybe I'm wrong, but that would be the obvious choice to me.
Posted by trmn8r on 2011-12-13:
The account holder shouldn't be charged a fee - that would be an bad policy. That would mean anytime you handed someone a check, they could walk into your bank and you get penalized because they don't have an account.

The onus is on the person hawking the check. The OP needs to realize that these days banks are charging for this whereas in the past they did not. I know BoA does it, and one of my local banks does too.
Posted by Churro on 2011-12-13:
I sell somebody something for a hundred dollars. They give me a piece of paper instructing thier bank to give me a 100 dollars from their account. I go to their bank to redeem their paper for the money owed to me only to find out their bank expects me to pay a service charge for the redemption of that paper. The redemption of that paper is a service provided solely for the benefit of their customer the check writer and not me. Why the heck should I pay it. It makes no sense.
Posted by Anonymous on 2011-12-13:
DebtorBasher> I respectfully disagree. I know several banks that will cash a check for you, even if you don't have an account with them. Nearly every bank will do so, as long as the check is drawn from their institution. Some banks will charge you extra for not having an account, while others do not. But nearly everyone will cash it regardless.
Posted by CowboyFan on 2011-12-13:
If the $4.00 is so important, ask for it from your friend or have them give you the $60.00 in cash.

Even this bank does not charge when it pays the check recipient, as long as it pays through the normal banking channels: receives the check from another bank or as part of a deposit. The fee is for teller and related costs, so that a person can walk into a bank, talk with a teller, and have cash handed to them. If the op does not want to pay that fee, the op is free to deposit the check anywhere in the world and receive the full $60.00.
Posted by traceylynn on 2011-12-13:
Fifth Third has always been good to me but I am low maintenance. If there is any banks left that do not charge this type of fee it is a very low list. Banks are absolutely out to make as much money as they can, in fact their stock holders demand it. Banks are a business and cannot give away service for free, if you do not want to deposit the check into your bank account unfortunately you do have to pay a fee for that service they are rendering you ( aka cashing the check).
Posted by 5/3 does suck on 2011-12-29:
I have a savings account with them and was told today that I would be charged a 1% fee now because it wasn't a checking account. I asked for my check back and told them to close my account.
Posted by Dan on 2013-10-30:
These fee's are preposterous. The account holder whose money is in the bank is probably paying the bank a fee to bank there, but more importantly, they provide the money by which the bank can invest and actually do banking things. Charging to cash a check, when that's the basis of their business is criminal! Do they charge other banks to cash checks? No! Just consumers.
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Overdraft Fees
Posted by Eversoletristen51 on 11/28/2011
OHIO -- I have bee a 5/3 customer for years. 5/3 recently changed their online bill pay and instead of the items coming out on the date that you select 5/3 sends them when they want to that results in overdraft charges if you don't have the money in your account days in advance. I made a mistake of depositing money in anothe checking account on a Monday. The accounts are all together and connected. They sent out bills out the account that had no money in it(despite there being no available funds in that account and over the course of three days charged me $856 in overdraft fees. I went in to explain that I had made a mistake but that also that the bills were not to be paid till that Friday and they refunded $111. Which is laughable. I was ready to get over it an move on when I noticed they then charged me another $90 in overdraft fees after meeting with them and after I transferred money that made my account poaitive again. Bottom line not a forgiving institution and looking for anyway to get money. Why would you send out bills on an account with no money in it?

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Posted by trmn8r on 2011-11-28:

The bottom line is banks aren't forgiving. I've never heard of them sending out payments "when they want," and would like more details of how you allege this took place. If you cue a payment for November 1, and the bank sends it on October 29th, this is something the bank can be held accountable for.

Automatic bill-pay and checks aren't covered by the "Opt-In" law, so if the money isn't in the account the bank will send it and charge you an overdraft fee. Most all banks do this.
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Policy of Evil
Posted by Charlene27 on 10/03/2011
I work at a used car dealership that has been in business for 29 years. A customer traded in his vehicle to us and it had a payoff at Fifth Third Bank.
We wanted the title as soon as possible, and the customer had the 10 day payoff amount, so I sent a CASHIER'S CHECK overnight via UPS to their national headquarters at 5050 Kingsley Drive in Ohio 45263. I included a PRE-PAID return UPS envelope to send us the title back, along with a signed release form from the customer. UPS verified that they received the check on September 28th.
On October 3rd, I called the 800-972-3030 and waited on hold for 30 minutes before a hurried woman answered. She looked up the customer's information and told me she'd need to contact the title department and put me on hold for another 20 minutes. Then another woman answered and told me she refused to help me unless I had the customer's SSN or account number and that the woman before shouldn't have helped me at all.
I called the customer, got his SSN, and called Fifth Third back. I waited on hold another 20 minutes before I got through again. Once I gave the customer's SSN, I was told I was calling the wrong number and the wrong department. They gave me another number to call: 877-812-0490.
I called them and waited on hold for a brief 10 minutes before another woman answered, Ethel. She told me it was their policy to hold the title for 10 business days before releasing it and that she couldn't tell me anything more unless I faxed her a signed authorization release from the customer.
Lucky for me, I had one, and I faxed it right away. I called back and waited another 10 minutes before I reached Ethel again, who told she didn't actually get the fax I sent, it went somewhere else, and I would have to wait till tomorrow to call her to get any information.
I work with banks, credit unions, and finance companies from across the county. I have never been so mistreated and witnessed such unprofessional and rude behavior in my life. Does Fifth Third just have a general policy of evil or what?
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Posted by trmn8r on 2011-10-03:
I witnessed an auction here in PA last week that included several vehicles.

The auctioneer stated that unless cash was being used to purchase the vehicles, there would be a 10-day waiting period to obtain the title. It was not 5th Third Bank.
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Posted by Pmapage7 on 06/21/2011
Recently had a situation where damage to my vehicle resulted in reimbursement from my insurance company made out, unfortunately, to the lien holder and me. Employees at Fifth Third Bank instructed me to endorse the check before sending it to them because that was policy (they could not endorse it without my endorsement first) and that their claims department would then sign and return the check to me. I was told this was the only way they would even handle the check; there was no other option (besides driving 100 miles to the nearest branch of the bank). In good faith, I did as instructed. I received a phone call today letting me know the check had been applied to my loan. Obviously, it is not the worst thing to have a chunck taken off the balance of my loan. However, in my average American paycheck-to-paycheck household, I was looking forward to being able to pay off a bill or two and give my son a nice birthday present. Now his birthday is next week, and I have to that long to replan it. It is a big inconvenience that could have been avoided with a little bit of honesty on behalf of Fifth Third Bank employees. You could say perhaps the person giving me the information made a mistake, except that, according to her, she had the "handbook" so to speak, reading to me the instructions on how to handle this particular situation. Therefore, whether it be she that I spoke with or the authors of their policy and procedure guidelines, someone is intentionally misleading customers of Fifth Third Bank. My loan payment was not behind, by the way, so that had nothing to do with it.
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Posted by clutzycook on 2011-06-21:
I think I would have asked the insurance company to only make the check out to you. Usually that's what they do because that insurance payout could typically go toward the repair of the car. The only time I've heard of a check written out to the lein holder is when the car is a total loss, which is what happened to me 4 years ago. What happened then was that the insurance company wrote a check out to my lien holder for the remaing amount owed on the car, and then sent a check to me for the balance.
Posted by saj80 on 2011-06-22:
clutzy, you are wrong. Insurance proceeds, regardless of damage amount, are made payable to both the lienholder and owner. If repairs are made, most banks will hold the check until these repairs are verified, and then release the check to the repair facility. However, if a lienholder is omitted on a check, the damage reduces the value of the collateral, and many people use the proceeds for reasons other than repair of the vehicle. If an insurance company omits the lienholder on the proceeds check, and the repairs are not made, then the insurance company can be held liable in the event of loss of value to the lending institution.
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5th 3rd Auto Loan payoff .. RIP OFF ! ! !
Posted by KathyPissedOff on 05/17/2011
CINCINNATI, OHIO -- OK.. So get to the LAST page in my Car payment book... It says to call this number at 5th 3rd to get the final payment amount... I did.. Payment was slightly lower than my monthly car payment. :) ... I send in that payment and assumed BINGO... Car is paid off. ... Fast forward 1 1/2 months and I get a letter in the mail saying I owe almost $1100 for the final payment and its due in two weeks or I will get charged extra late fees!... What a bunch of BULL! ... Why is the final payment OVER TWICE what the normal monthly payment is? ... Why did THEIR AUTOMATED SYSTEM give me the amount it did, then want more later... Its a bunch of shlt... I called them to try to sort it out.. Big surprise.. They say say that I owe this $1100 and they have no record or proof that the other amount was given to me. And there is NOTHING they can do and that the amount owed. ... 5th 3rd SUCKS! ... If you have a car payment with them and your near your final payment... Call the automated number they give you.. AND RECORD THE CALL! Otherwise they will pull the same BS with you as they did me. ... I WILL NEVER EVER EVER DO ANY BUSINESS WITH THEM EVER AGAIN! ... I will steer EVERYONE I KNOW AWAY FROM THEM ! ... And I LOVE the fact that this P. Brian Moore whos name is on this crap letter can not be gotten a hold of... No email address anywhere... No one will connect you to him... EVERYONE STAY AS FAR AWAY FROM 5TH 3RD BANK NO MATER WHY!... DO NOT get a Credit Card from them, don't do a car loan with them, do not get a house loan with them, Don't even get a checking or savings account with them. ... If this is how they treat someone who has ALWAYS paid they payment on time... Think how they treat others! ... 5th 3rd YOU SUCK A$$!
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Beware, Merchants!
Posted by PapaKen on 04/04/2011
Please, if you’re a merchant, do yourself a favor and NEVER use Fifth Third for your credit card processing. It cost us thousands when their Merchant Services gave us voice authorization and pre-approved some sales that later proved fraudulent.

They will lie and deny that they gave you the six-digit approvals and then take back the money!

Stay well away from their processing!

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Posted by spiderman2 on 2011-04-04:
Did you have a signed credit card receipt for those transactions? If they approved the transaction and you have a signed slip, they cannot reverse the transaction.
Posted by nadia on 2013-12-26:
We are going through the same thing they are holding 14k of our moneys what did you do about it. Please reply thank you ,and, God Bless.
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Automotive Loan-Simple to Understand
Posted by Clinkman on 03/15/2011
I had excellent credit when I went to a dealership to purchase a vehicle for my wife. Due to my credit, I received a very favorable interest rate. Due to the terms of the loan, I kept my responsibility and made the payments on the vehicle and never received threatening letters, harassing phone calls, or rude employees. In fact, the few times I have had to call, I have experienced nothing but knowledgeable, helpful employees. Since this is my second loan with this company, I believe that this positive experience is the norm rather than the exception.

A loan is pretty simple to understand-you borrow the money and you pay it back.
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Great Customer Service
Posted by Trueakitalover on 12/09/2010
CHARLOTTE, NORTH CAROLINA -- I have been going to this bank for the last several months and sat down with the personal banker at this one branch who is amazing. He has helped me to get on the right track with my finances. Improving my savings, my credit score and has made suggestions for things that need to be done to help improve my score. Every time I went in the people have gotten to know me by name. If you sit down with the personal bankers and let them explain things they will get you on the right track in dealing with your finances.

I am a very happy customer of Fifth Third Bank and would recommend them to anyone I know.
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Posted by Alain on 2010-12-10:
Nice to see a bank compliment here. It doesn't happen very often.
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