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Fifth Third Bank - Page 3


46 Reviews & Complaints

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Nothing But GOOOOOOOOOD!!!!!
Posted by Theresa5807 on 04/10/2010
LITHIA, FLORIDA -- I switched from Chase (after they bought out Washington Mutual) to 5/3 Bank. I LOVE the personal service that they have given to my entire family, including my youngest daughter. I have seen all the negative reviews and think maybe those people should switch over to this bank. The employee's know how to treat customers. Also, I am a very bad spender (and we are not rich and don't have a collective amount together in the bank that exceeds more than $150.00), Even still, 5/3 Associates treat us as though we have a million dollars in their bank. They understand today's economy and try to suggest ways to cut cost, Phillip sat down with me for over an hour, we talked about my spending habits, and how some of them are causing our lack of money. I appreciated Phillip for being blunt and honest with me and what my poor choices in spending was doing to my family. He made me think "this bank really does care about us"-Thank you, you have changed the way I buy stuff now, as a result I am able to take that money I would have blown and stick it back into savings. 5/3 Bank set me up with saving plans that actually work for my family, like depositing even as little as $1 or $5 as long as it is being done every week, I know we will get ahead soon.
Had I not switched to 5/3 Bank I don't believe we would be getting the attention and help that we need. Hopefully in a year or two we will be able to apply for a home loan. All 4(one is a baby- and soon to be a 5/3 customer as well) of my family members are VERY satisfied with this branch here in Lithia. I have never walked into a more friendly, caring bank before. I highly recommend this bank to any family or person who is looking for a bank that truly cares. This page is not long enough to tell of how GREAT 5/3 Bank FishHawk, Lithia branch really is! You ought to go in- sit down and just "talk" to them. Get to know ALL of the associates- I've met Donna, Gina, Nick, & Phillip;they are all great. Soon I will be meeting with the investment gentleman about an IRA.

     
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Had 3 accounts for 24 hours what a nightmare!!!
Posted by Jleetw1 on 03/16/2010
KANNAPOLIS, NORTH CAROLINA -- Saturday,
I opened 3 accounts checking, savings and a checking business account at 606 S Main St Kannopolis, NC a [snip] her title on her card was Assistant VP did the opening of the accounts. After checking my paperwork about 1230 I tried to call the branch because, I found errors. I let the phone ring for 25 times no answer. No voice mail nothing ! I switched to 5th 3rd because, of customer service and availability and I am getting neither. I emailed Ms Sargent at 1230 and I have not gotten a reply.

I called customer service and a person answers and did not even say 5th 3rd Bank I did not catch her name. She said what" Is the problem you are having ?" After that there was not a word but, I was transferred to a another person I asked the next person "who" that was and they did not have a clue.

I asked to speak with a supervisor and was on hold for I am not sure how long and I hung up. I will be in the Branch this week I need a bank to give me service and Availability and I need to know who I am talking to when I call about banking matters not someone that " I have not idea " nor the person that the call was transferred to. I have not had these accounts for 24 hours.

And this seems not the Bank I need !!!!! AND I DO NOT SEE THE BUSINESS ACCOUNT I OPENED when I check online. I should have known something was wrong when I asked if she had completed the deposit and she said" no" then I changed the Deposit amount and it was off by $500.00 Dollars.

This is Customer Service?Attention to detail? Taking care of the customers needs? And when I listened to my voicemail that VP that opened my account said " Here is my number I will try and catch your call I have a Lobby full of people" You know I could care less about your Staff issues!!!I can not believe this!!!!
     
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Posted by Anonymous on 2010-03-16:
Names of individuals are not allowed on this site. Sorry you're having problems. Close the accounts, tell all your friends and family not to do business there.
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Credit Card Rip Off
Posted by Jackfrost on 01/01/2010
My bank in Florida was purchased by 5/3 bank 4 years ago, I had two Visa cards with 1st National Bank. Credit Limits of $5000 & $7000. My APR was Fixed 8.5%, 5/3 changed the APR to 10.99 Var. In the last month, they reduced the credit limits by $2000 and raised the APR to 12.99, what a bunch of pricks, and when I send an email all I get is a standard reply, I'm thinking about moving all my accounts.
     
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Posted by Anonymous on 2010-01-02:
Move em. However, be aware that everyone is tightening their belts.
Posted by Anonymous on 2010-01-02:
Join the club. All banks are doing that to everybody.
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Theft in the form of overdraft fee
Posted by Sgersch on 12/22/2009
I had an unexpected check come through today on my 5/3 account. Honest mistake. I'm approx. $100 overdrawn. To my dismay, I am being charged $370 in fees. Debit tranactions from last week are showing as overdrafts. This is a scam. I had a positive balance yesterday and made had no tranactions until an autodebit came through I wasn't expecting. 5/3 convienently (for them) posted my last 14 debit tranactions at the same time as the overdraft and paid them in sequence from largest to smallest thus maximizing the overdraft fees. I put money into my account 1st thing this morning. How do charges I made last week show up after an autodebit that posted today. 5/3 rearranges your debit tranactions to maximize fees. I take responsibility for the mistake, but not $370 worth. I overdrafted once, not 10 times. I think they list debits as pending for a few days just in case they get an oppurtunity to nail a customer with overdraft fees. This is unbelieveable. I am sick. How can a bank possibly get away with such blatant manipulation.

     
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Posted by Anonymous on 2009-12-22:
Oh boy this OP is gonna get it...
Posted by jktshff1 on 2009-12-22:
Yep, and tnboy and I ain't gonna be a part of it!
I would highly recommend the op erase the post and look at the related reviews section.
Posted by PepperElf on 2009-12-22:
but you're part of it now.

you've posted here so you've entered the thread that never ends. yes it goes on and on my friends. some people started posting here not knowing what it was and they'll continue posting here forever just because this is the thread that never ends. yes it goes on and on my friends...


>;-)
Posted by Ytropious on 2009-12-22:
The autodebit may have gone through before you made your purchases. When I pay a bill online it doesn't show up online until it has been sent and cleared, sometimes 2 days or so. In the mean time I have to REMEMBER that I made that payment. I suspect you made a payment. It didn't show up right away, you spent money, and then overdrafted because you didn't have enough money to cover the autodebit and your purchases. I don't think you understand how it works.
Posted by Anonymous on 2009-12-22:
They're not on your side and manipulate transactions to maximize on their fees.
Posted by Anonymous on 2009-12-22:
I think it was pepper who said 'When a customer does it it is an honest mistake. When a company does it is is unacceptable".

Honest mistake or not, YOU were overdrawn. NOW you owe the fees. YOUR fault no matter how you slice it.
Posted by PepperElf on 2009-12-22:
yep that's my quote =)
i'm thinking of putting it on my blog page
Posted by Anonymous on 2009-12-22:
Pepper, do. It is so true.
Posted by Inat on 2009-12-23:
just dont use a bank if you dont want to be subject to fees based on your mistake and mismanagment
Posted by Anonymous on 2009-12-23:
"How do charges I made last week show up after an auto-debit that posted today."

It's possible... if you spend your debit card like a credit card (you don't punch your pin code in). It could take up to 6 days to post and doesn't always show up as pending online.
All it takes is one mistake, one thing to forget and that's where the snowball of overdraft fees comes to play. Especially, if you bank with banks that arrange your debits from highest to smallest.
Only *you* know what you've spent, what auto-debits come out, and what checks you've written. Check registers are your friend... shouldn't matter how they arrange it; in your book, it's already gone.
Posted by CrazyRedHead on 2009-12-23:
I take it you don't keep a check register. If you were to keep an accurate one and write the autodebit/check down it wouldn't have been unexpected. The money would have been gone and your other transactions that you made last week would have cleared just fine no matter how they would have posted. When you write down your check/autodebit transactions then that money is gone immediately, regardless if it shows online/phone or not.
Posted by sgersch on 2009-12-23:
It is amazing that folks would agree that it is okay for a bank to charge a family $370 for one overdraft manipulated into 10. You self-righteous bank apologists. Every debit charge I made showed up as pending online. I had charges that were pending since last Thursday that posted right after the unexpected auto debit. The auto debit was a misunderstanding between myself and Chase bank. They sent me a letter stating that my request to halt auto debits had taken affect. I was expecting a bill in the mail, but instead it auto debited when I was a little low in the checking account. I made one mistake and charges were clearly manipulated to increase fees. I guess my incompetence in not maintaining an accurate ledger should allow the bank to rape my account by arranging transactions to their liking. Give me a break. You people don't have anything better to do than telling people they shouldn't be venting because they made a mistake and got taken to the cleaners for it. Good lord, one financial mishap shouldn't cost a family on a tight budget $370. How on earth can you people balance yourselves on your sky high pedestals.
Posted by Ytropious on 2009-12-23:
"I made one mistake and charges were clearly manipulated to increase fees." No, not manipulated, done in order. Just because you overdraft once doesn't mean you are exempt from any other overdrafts made in the same time period.
Posted by Anonymous on 2009-12-23:
Sqersch, Most reasonable people waling the streets of America agree that these overdraft fee's have gotten way out of hand. Most reasonable people walking the streets of America would agree with your complaint and would be outraged by the actions of this bank. Don't let these comments get you down for they're not representative of most reasonable Americans.

Good luck!

Posted by sgersch on 2009-12-23:
Okay, let me get this straight. Debit card transactions on 12-17 show online as pending same day. Unexpected auto debit from Chase comes through on 21st. All transactions were covered until the Chase went through. I still get nailed for the debit card transactions on the 17th. Again, I over drafted once. Ytropious, what bank do you work for? Or are you a professional "Devils Advocate."
Posted by sgersch on 2009-12-23:
Thanks Stew.
Posted by Ytropious on 2009-12-23:
Oh god, not this "you must work for the company you're defending" crap again. Pending means just that, pending. You think the autodebit was made the same day? When I bill pay online from my checking account it does not show up until it has cleared a few days after the fact, meaning the autodebit was likely made a few days before 12-17 meaning all purchases made after the autodebit was made are now overdrafted. Just because the autodebit showed up after the purchases were made does not mean it didn't EXIST as a draw before you made the 12-17 purchases. Get it?
Posted by Anonymous on 2009-12-23:
Ytropious, Do you think its reasonable to charge $370 for a one day loan of a $100?
Posted by Ytropious on 2009-12-23:
I'm not disputing the fact that the overdraft fee is a lot, I'm disputing the fact that the OP thinks the bank manipulated things. I use bill pay with my 5/3 checking account online so I know how they draft. They DO NOT show up on your account right away, not even as pending or anything, they show up when they are taken out even if I initiated the draw days ago. I have to physically remind myself that I made that draw. I'm saying the OP thinks the draw was initiated on the 21s, I'm saying it was likely initiated by chase before the 17th, meaning that draw was FIRST and any draws made after are now overdrafts.
Posted by goduke on 2009-12-23:
Again. Banks should stop covering overdrafts, and send the transactions back.
Posted by sgersch on 2009-12-23:
Chase told me the draw was initiated on the 21st. The Chase draw was after the other transactions, PERIOD. They posted the other transactions on the same day and reordered them from highest to smallest to maximize fees. Are you going to say that's reasonable. Congress is actually investigating these practices. Banks are expected to make 48.5 billion dollars in overdraft fees this year. I suppose congress just doesn't understand big bank policies......
Posted by Inat on 2009-12-23:
first, congress has proven that they know NOTHING about any industry let alone banking industry (there is a reason we are not a facist gov't...yet.
You were inconvenienced by the way they order the trasnactions. Some other person may complain that they paid the smaller, "less important" transactions frist which caused them to default on their mortgage. I 'spose banks could be like burger king and "make it your way" but that would simply make everyone's fees increase due to the increased overhead. YOU made a mistake, not the bank.
Posted by Anonymous on 2009-12-23:
Inat, As usually is the case all the transactions were paid. Ordering from lowest to highest wouldn't cause the mortgage not to be paid it would only result in 5/3 getting paid a lot less.

Again even if the OP made the mistake should that mistake result in a short term loan with an APR of over 135,000%? Hell even the mafia isn't that brazen.
Posted by sgersch on 2009-12-23:
I agree goduke, banks should send overdrafts back. From a banks perspective, then they wouldn't be able to rape the accounts of honest hard working people like me. I am cutting up our debit cards and will operate with only cash from here on out. I will never put myself into this situation again. It still blows my mind that a bank could use 10 small debit transactions that were easily covered at the time of the transactions to nail you with $370 in fees because one charge was overdrawn days later. I hope one of the many class action lawsuits that have been filed against bank's overdraw fee practices create some justice for consumers. I wonder how much of the 48.5 billion banks will make this year off overdraft fees will be manipulated like my fees were. I bet at least half of the fees are unjustified.
Posted by Inat on 2009-12-23:
so what is a reasonable fee? should you just have ot pay ONE fee? Should someone be there clearing the OD accounts to find the most beneficial way to process the transactions so there is less impact on the customer? If you over draft your account, there is a fee. If you OD more than once, you pay a fee each time - why is that the bank's fault? In the oldie days if you wrote a bad check, the bank charged you AND the merchant charged you. How is this any different today?
Posted by Anonymous on 2009-12-23:
sqersch, There are good banks out there. You need to avoid the big national corporate banks in favor of locally owned and operated banks and credit unions.

My bank for example is locally owned. Doing business in the community since before I was born. They have fair and honest policies. On any given day you'll see the owner of the bank sitting in his office at the main branch. Heck, he even makes it a point to do walk arounds in order to greet the customers.

These banks exist in all of our communities and they are desperate to reclaim customers lost to the corporate banks. Give it a try you'll be glad you did.
Posted by sgersch on 2009-12-23:
All the transactions will be paid regardless. The bank wants the overdraft fees. Again, I made one mistake and was charged for 10 mistakes. The bank reorders transactions to make money. They paid them all so Inat's comments regarding a default are way off base. Charges that are made days before a auto debit have no business processing after an auto debit. It is clearly bank manipulation. How can some of you people be so pro-bank policy. Congress knows enough that they are aware that banks are taking advantage of folks by manipulating transactions to create over draft fees. I don't have much confidence in congress either, but they are certainly capable of stopping crooked banks from ripping folks off.
Posted by sgersch on 2009-12-23:
Inat, how about processing in chronological order. They paid everything and processed them to their advantage. The bank is at fault because I only over drafted ONCE and was charged for 10 overdrafts. If I make 10 small purchases that I have funds for on a Thursday and have a over draw on the next Monday, did I over draft on the 10 small debit purchases? NO, NO, NO!!!
Posted by Skye on 2009-12-23:
I don't understand what is so hard about managing a checking account. Always make sure you have the funds, check everyday to see what checks have come through, so you can keep track of your balance. This way a check that comes through isn't a surprise. When you write checks you are supposed to have the funds in the account at that moment.

Very simple.
Posted by Anonymous on 2009-12-23:
It doesn't matter when you made the debits, what counts is when they are presented by the merchants. You had adequate funds when you debited, then the check came in and ate up the funds, then the items came in from the merchants and the funds weren't there. They can't post them until they come in. So in fact, they are processing in chronological order in as much as it is the order they arrive at the bank.

Debit transactions arrive at the bank in one huge batch file. The file is posted in one fell swoop, if your pending items are in it they post. If not, they remain pending until a timer has run out, then the pending item drops. It will still be paid if the merchant remits it after that point, but you no longer see the item as pending. This is the reason that you cannot rely (I don't mean OP, I mean in general) on online balances to determine what you can spend.

I appreciate that it sucks, and isn't a great time of year for it. Did you try going into your branch and explaining to them what happened and see if they can work with you on the fees?
Posted by CrazyRedHead on 2009-12-23:
Yeah Skye, I don't know what's so hard either. I have been dealing with BOA for 20 years and have had autodraft, checks and debit card transactions and haven't overdrawn in 10 years, mainly cause I learned how to keep a checking register. The 10 years before that I used to be like one of the many that are having overdraft fee problems, although they put them through from highest to lowest them, they just sent them all back. I think next summer they will stop reordering them and just send them all back after the biggest one goes through.

Along time ago when you would present a transaction when you didn't have enough in the account they would charge you a OD fee and still send it back and then the merchant would hit you with an even higher fee, some places are at $50.00 now. The complaints here won't increase they will just change content.
Posted by Anonymous on 2009-12-24:
sgersch, if you or someone you know were ever raped, I highly doubt this is the word you would use to describe the bank charging you for your mistake. I would appreciate you using another word.

Now, if you had enough money in your account, you would not have over drafted. Yes, I agree with Duke. Banks should stop paying the debits and start prosecuting you for overdrawing, like they did in the good old days.

Then the OP can come back and tell us which they prefer, the fees or the time in the pokey.
Posted by sgersch on 2009-12-24:
Time in the pokey for one small overdraft? Get real. You all are missing the point here. $370 in overdraft fees is extremely excessive. I agree I made one mistake managing my money. This morning I have another $259 in overdraft fees. I deposited money immediately after overdrafting. Now they claim that the $370 overdraft fee posted immediately (despite it not showing up online until the next day) which caused 4 more small debit transactions from last week, and 3 small checks to go into overdraft. This is a snowball effect that I don't feel is justified. So basically, I'm being charged overdrafts because of a $370 overdraft fee. You guys are probably right though, Fifth Third should take over $600 from me because one check came through that I didn't have funds for. Merry Christmas to you all as you sit on your pedistals with your meticulous ledgers.
Posted by Ponie on 2009-12-24:
Although I don't sit on a 'pedistal,' I do try to keep a meticulous ledger. However, if I mess up that ledger--it's MY fault. I'd have to pay that fee I was made aware of when I opened an account at my bank(s). After all, I'm to blame, not the bank. I'd certainly welcome the day banks went back to returning NSF checks and possibly declining debit card transactions. That way we can pay double fees--one from the bank and one from the place we sent the check.
Posted by CrazyRedHead on 2009-12-24:
Right now I'm sitting on a beat up old chair that is very low to the ground. A long time ago I nearly went to jail over one overdraft that cascaded into many, many, many more. We are not missing the point, some of us are speaking from experience here and have found keeping an accurate register is a good way to avoid such problems. Until you stop using your checking account and get these fees under control and put in a deposit to cover everything this will continue. You are being charged OD's because of that one forgotten transaction that came in.

I know it's hard to see right now, but I hope you can have a Happy Holiday and New Year, despite the bank.
Posted by Ponie on 2009-12-24:
Wow! Red, you really got hit. Since you've experienced what happens when you overdraft, I think you're a good educator in these matters. Glad to see all is OK now.
Posted by Anonymous on 2009-12-24:
CRH...don't worry, I'll bake you a cake with a saw in it!
Posted by sgersch on 2009-12-24:
The point is that these fees are excessive. I've deposited $900 in the bank and am still in the red over a single transaction $100 overdraft. I have not purchased anything else. 13 of the overdrafts were for charges less that $15. In this economy, charging a struggling family this kind of money is taking advantage of people. Immediately depositing $900 didn't cut it. Are some of you saying it is fair for a bank to charge this kind of money for one oversight that allowed the bank to rearrange my charges for the maximum amount of fees adding up to over $600? They delayed my deposit to let the next batch of debits post, which coupled with the immediately posted $370 in fees created more fees, which now have me in the red again. There was no possible way to avoid the 2nd batch of overdrafts. The $370 in fees wasn't on my online account Tuesday, but the deposit was. The overdraft report has the $370 in fees posting before the deposit, which is the opposite of the way it showed online. I have a serious issue with that. This is insanity. My debit cards are history. I can't even afford milk, bread, or X-mas dinner now. The $900 I deposited was everything I have left. For the record, I am aware of how to use a register. I am not questioning the benifits of a register. I am furious that a bank can wipe a families savings out over what should have been one overdraft.
Posted by Anonymous on 2009-12-24:
"They delayed my deposit to let the next batch of debits post, which coupled with the immediately posted $370 in fees created more fees, which now have me in the red again."

That brings up a question. When did you make the deposit? Banks have cut off times. In my state, it's 4pm. So, if you made a cash deposit after cut off time, that deposit wouldn't cover anything that posts that night because "technically" you made the deposit the next business day.
Posted by Anonymous on 2009-12-24:
"I agree I made one mistake managing my money"

Just like Pepper said. When customers make a mistake, it is a 'small mistake'. When a company does it, or expects payment, it is unforgivable.

Use this as an expensive lesson. And stop blaming the bank for YOUR mistake.
Posted by sgersch on 2009-12-24:
I'm done with this. You people obviously aren't capable of seeing the injustice here. OVER $600 in charges for one overdraft and then made it impossible to correct before the next batch of charges (from last week) posted. Do I need to say more. I don't give a S*^T about comments regarding cut off times, bank policy, or ledgers! These are excessive fees and 5/3 is taking advantage of struggling families! Obviously I now understand the reasoning behind leaving me dead broke during the holidays because I though an autodebit come through that was supposed to be cancelled. My ledger was actaully perfect except for I added back in the autodebit that I cancelled in favor of sending a check after I got paid so I could do some X-mas shopping.

LadyScot, regarding your comments on my choice of wording, rape can mean multiple things. From encarta dictionary - rape - the violent, destructive, or abusive treatment of something. In this case, the violent, destructive, or abusive treatment of my banking funds. It can have a non-sexual meaning. I apologize if you were offended and will not use the word in that context again.
Posted by Ponie on 2009-12-24:
'My ledger was actaully perfect except for I added back...' How can it be 'actaully perfect' when you toss in the 'except' portion? Just admit it--you goofed. We all do. Go on living without expecting to have the violins played for you. The bank was within their right to charge the OD fees. I somehow have the feeling you won't mismanage your perfect ledger again.
Posted by Ytropious on 2009-12-24:
Right back atcha, sqersch, right back atcha.
Posted by Anonymous on 2009-12-24:
"Ponie, I bet you're fat and alone right now."

Squersch, once you start the playground name calling, you lose all credibility. I still disagree with the word rape. Your bank has not treated you violently, abusive or destructive. They charged you for your overdrafts.
Posted by Sparticus on 2009-12-25:
The name calling is not appropriate. Some folks here disagree. Some agree. No need to call people names. This is Christmas! ;-)

I agree with the poster. There is some pretty shady overdraft practices that seem to go on at banks. I have always felt banks manipulate the order transactions post on a given day to maximize fee collection. That is their main income source. Why not maximize it and scrape a few extra bucks from us careless check book balancers.

Yes we can all avoid it. But mistakes happen. And banks will make you pay for it.

If you have been a long standing customer, go in person to talk to a manager. See if they will remove some of the charges. I bet they will help you out a little if you go in person and apologize for the error.
Posted by Eloise on 2009-12-25:
Sgresch, you are your own best advocate, so talk to the bank they might be willing to refund some of the overdraft fees. (especially if you have never done this before). Hopefully from now on you'll be more aware of 5/3's policies and procedures.
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Fifth Third Bank holds checks
Posted by Katcha on 11/11/2009
TOLEDO, OHIO -- Fifth Third Bank was chosen by the dealership to finance my auto loan last year. The payment is due the 1st of every month with a 7 day grace period. Every month since July 2008 I have sent in the payment via us mail sometime before the 1st (anywhere from 3-10 days before the 1st of the month. I have received a phone call from their collections dept nearly every month between the 10th adn the 15th telling me they have not received payment. I let them know the date sent and they tell me they didtn get it. It have taken up to 4 weeks to post a payment with this bank. I have written them a complaint letter asking why it takes them so long to post payments and they didn't reply. the reps are rude and try to take a payment over the phone which they in return charge $17 for. I have asked that they look for the payment before they call me becasue even us mail doesn't take 10 days, I have tracked a fed ex payment to them that also took over a week to post. I believe they are hodling checks to collect late fees and am filing a BB complaint as well as a complaint to the attourney generals office. they don't offer on line payments unless you have a checking account with them -- I LIVE IN MN !!!!
     
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Posted by redmx3racer on 2009-11-11:
You had the right idea by sending stuff delivery confirmation. While I guess they could argue all it does is shows you sent them a package, not neccessarily a check-at least you have proof of sending/receiving.
Posted by Anonymous on 2009-11-11:
Is there a way you can pay online?
Posted by Anonymous on 2009-11-11:
Send the payment electronically from your own bank's web site. You will control when it is sent, and you'll have proof that they received it.
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Thieves in banking
Posted by Nick 51 on 10/19/2009
CINCINNATI, OKLAHOMA -- I have a 12 0% interest offer from them. I transferred a balance and made payments regularly. I noticed interest charges showing up on the statement and when I inquired was told they had revoked the 0% offer because I missed a payment (which was not correct). In reviewing the account more closely duplicate payments had been taken and not applied correctly. They refused to give me back the 0% interest offer and customer service was extremely RUDE. A complaint letter I sent to the CEO office in Cincinnati was never answered.

I will never use this bank again and DO NOT RECOMMEND this bank to anyone who values good and honest business practices and friendly customer service.
     
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Posted by saj80 on 2009-10-19:
Were the duplicate payments in regards to multiple payments made at the same time, or were only the monthly payments due made each month and the bank missed one? If you send extra monies in with your normal monthly payment, they will not be credited toward future payments, only toward principal reduction. Many people make this mistake, but financial institutions will not give any additional funds credit toward future payments. If the bank misapplied a normal monthly payment, and you have the proper documentation to show the payment was made and processed in time, then a polite visit or letter to the bank should get this resolved.
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Fifth Third Complaint
Posted by Dbekkering on 10/01/2009
I had been a customer of Fifth Third Bank for approximately 8 years. The problem started when they froze my home equity loan. I had access to $50K in cash until and was ready to make an real estate purchase. I spoke with the lender at Firth Third and they things were set but then I got a letter in the mail saying my account had been frozen. Not such a big deal because a lot of banks were doing it at that time and I could simply switch to a new bank. However, they would not refund the $65 annual fee associated with the account I had just paid on the account. They would not even pro rate it or anything.

Subsequently, I bounced a check inside an account where my home equity loan was the back up funds. Normally, if this would have happened it would have cost me $9.00 in a one time per transaction. Well I forgot that the account was closed and they ended up charging me $350+ dollars in fees. I verbally agreed to pay the two $39 charges and the two $9.00 overdraft charges and asked them to reconsider the remaining $260 in fees. I thought this was a reasonable request but the branch manager just let me know they would give me a $66 refund on the fees but that is all they could do.

I told him to keep his $66. I was going to close my account and inform as many people as I could about the situation.

If you stay with this bank or join this bank be prepared to be treated in a similar manner.
     
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Posted by JR in Orlando on 2009-10-01:
I agree with you that banks should give you a refund of fees where they have terminated or frozen your home equity loan. After all you paid the price for them to set the account up for the year. They certainly have a right to terminate it, but a refund of a prorata share should be given.

As to the rest, that is your fault. You knew your over-draft protection account was frozen, but did nothing. You had a lot of transactions (no check register, hmmm)without money in the account to have this amount of nsf fees. It makes me wonder if the bank was correct in freezing your equity line and not lending you more.
Posted by dbekkering on 2009-10-01:
I appreciate you comment.

However, the mistake I made was not having a check register. Let me assure you I am not a credit or financial risk. I am on step four of Dave's Ramsey's plan. Only debt is my 15 year mortgage on my house.

The other problem was having forgetting the over-draft protection covered this account. They froze it. They should see some culpability in this matter.

Please do not think that I am without fault. However, a fair minded person should see that they are at fault also but they have not helped at all.
Posted by JR in Orlando on 2009-10-01:
I am glad that you are getting your financial affairs in order. It is such a learning process. It took me about 20 years of hard knocks to learn how vigilent I have to be over my money and bills. Sounds like you are making great progress. The great thing is that this will be a minor matter a short time from now. Good Luck.
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5/3 Thieves
Posted by F 53 on 09/26/2009
This bank is in the business to charge and get as many fees as possible from tneir customers. It starts with something as simple as online banking.. we use online banking with our other accounts and it is very accurate. Not with fifth third, they state that their online banking is not realtime and no updates are made on the weekends. For instance, I have a distribution deposited on Friday but can not access it until Monday when they update their system. Its my money but they tell me I can't access it?! Another example...... our running balance was $589 and there were $66 pending transactions which was subtracted from the $589. Once all the other transactions posted the balance was negative 2 transactions. Then the disaster started. The account was negative $21 and I put enough money to cover it before it we would be charged fees. Didn't work I was charged $74. Since that day last week we have paid over $300 in fees for a $10 transaction and have put over $400 to cover the expenses but as soon as I put money in the account they charge me more fees. So I went to close the account and not surprised at all they will charge MORE FEES $25 for each account that I close and I can't close it until Monday when they update the account

     
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Posted by Anonymous on 2009-09-26:
Direct deposit or check? You realize anything that is deposited on Friday (check wise) before the cut off time for your bank will be available the next morning. However, if it is after the cutoff time, then it is available after midnight on Monday. Read the disclosure you signed when you opened the account.

If it is direct deposit, it should be available the morning after it goes in.

As for overdrafts. Don't spend more than you have, and you won't get them.
Posted by Anonymous on 2009-09-26:
"I have a distribution deposited on Friday but can not access it until Monday when they update their system."

That sounds like you made the deposit after cut over. Cut over = meaning, when the bank cuts over to the next business day. Check with your bank to see when that is and if you want your money to post Friday at midnight, you want to deposit it before cutover. Since weekends aren't business days, after cutover, anything you deposit won't post until Monday at midnight.
Posted by Ytropious on 2009-09-26:
5/3 is my bank and I've never had a problem with the online banking, it's always been correct for me. And as for the holding funds, don't all banks do that if you make a deposit after like 2 or 5pm? They're open on Saturdays so you could easily go in and deposit before close on Saturday or simply cash your check if you really need the money now. I really don't understand the point of this complaint.
Posted by Anonymous on 2009-09-26:
Banks are open on Saturdays, yes, but the check still won't post until Monday at midnight for weekends aren't business days.
The OP *could* cash the check. But, if he/she is overdrawn, then cashing the check wouldn't be possible. There has to be funds in the account to cash the check off of. In the case of that, the OP has the choice of taking the check to the bank it was drawn off of and cash it there, take it to a check cashing place or deposit it and wait for it to clear.
Posted by Eloise on 2009-09-26:
The OP's math just didn't add up in his review. No wonder he's having account problems.
Posted by Anonymous on 2009-09-26:
You still put in the money to cover the charges after your transactions that would put you in the negative. If you think the bank is going to do you a favor and post it first, you are sadly mistaken. They want those fees and those posting transactions are manipulating them so as to maximize the fees. Don't ever think they're on your side.
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Overdraft Fees & Lies Lies Lies
Posted by Tabs on 09/17/2009
SAGINAW, MICHIGAN -- Just like many others here, I agree that 5/3 bank does everything they can to screw their customers. Our business got lured to 5/3 because of they had better credit card processing than we currently had and if it is deposited into a 5/3 account, its available the next day (vs the 3 days were were currently waiting). Well, first we were denied overdraft protections, after the representative said she could get it for us. We should have ran away then. Since then, they have repeatedly send through the highest check before the smaller items and we've been hit with overdraft fees in excess of $300 per day. The lady at the bank said they pay the highest first because thats what they view as the most important. Well then why, if there are 5 items going through and all 5 are going to be paid by the bank, and the account is going to go negative regardless, WHY do you do the highest one first when it was the last charge I did. Oh wait, I know the answer... to screw over the customers that are the only reason you are in business. So rather than getting one overdraft charge (which would have been legitimate, I admit) I got 5!. Absolutely absurd.

The other problem I've been having on a regular basis is my card being declined when there is money in the account. The bank says it's user error, but I'm confident that the people who are running my card are doing it right. Anyway, it's happed WAY to much to be user error.

Thirdly, our cc processing is supposed to have the funds available the next day. Well imagine my humiliation when I was buying diapers & formula with a line behind me and my card was declined at 7pm when we had processed and batched a payment for over $1000 the day before. I came home and checked the account and it wasn't in there yet, but I guess sometime between then and the next morning it hit the account. I'm sorry, but that hardly qualifies as "available the next business day". It can't be considered available if I can't use it.
     
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Posted by JR in Orlando on 2009-09-17:
If you are supposed to have all this cash running through your account, why are you so close to nothing? If you are having credit card payments processed through this account, then isn't this accounnt for business? Why are you buying diapers out of a business account?

If you know the rules and continue to overdraft, why are you surprised. My financial life did not get better until I realized what the rules are, realized rules applied to me, and acknowledged my limitations, e.g. I have no debit card because I could not manage it.
Posted by Anonymous on 2009-09-17:
JR...I was wondering that too....
Posted by Skye on 2009-09-17:
Why do so many people think they are entitled to, and need overdraft protection?

How hard is it to spend money you have, and not spend money you do not have.

I have never had overdraft protection. What the heck for?
Posted by Anonymous on 2009-09-17:
I've never heard of anyone being actually denied overdraft protection. Most financial institutions push for it.
Posted by MaggieMcT on 2009-09-17:
bkk -- you & me both. I thought they liked it because it's a moneymaker.
Tabs, it won't matter how they order the debits if you don't overdraft in the first place. Do you keep a register, or are you relying on the online information?
Posted by skelly39 on 2009-09-17:
I totally agree that it's up to the individual account holder to make sure there is enough money in the account to cover their purchases. But I have to say, the OP makes a good point-banks always say they post largest to smallest so the "important" things get covered. Then they end up covering them anyway, so why do the big things go first?
Anyway, you don't have to pay the bank if you don't overdraft. Don't make it easy for them to take your money.
Posted by yoke on 2009-09-17:
I have never heard of a bank denying OD protection, but then after reading the post I can see why the bank denied it. The OP is a huge risk and seems to want to blame the bank on all of their problems. Take responsibility for your accounts and you will not need to ask for OD protection.
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CROOKS...PURE AND SIMPLE
Posted by PurpleMax on 09/04/2009
Two years ago I obtained an auto loan with 5th 3rd bank. I live in Texas. There are no local branches. I fell a couple of weeks behind and I called them to setup a payment arrangement. They made an arrangement for that payment and my next payment that was coming due within the next two weeks. They handed me off to their "Collection Agency". When my first payment cleared and my account was current, 5/3 pulled my account back from their collection agency. When they did this the collection agency had no choice but to delete the 2nd payment I'd made with them for an automatic EFT to hit my account for the upcoming payment.

5/3 called me and the man on the phone was awful to me. He was making rude remarks and would not allow me to explain my side of the situation. I hung up on him because he would not let me talk. I promptly called back and got a supervisor. He argued that I owed an extra payment. I insisted that payment had been paid. By this time the payment was 30 days late and 5/3 was reporting it to the credit bureau.

5/3 is a TERRIBLE bank and I use that term "Bank" loosely. I am going to consult with an attorney to have them correct my credit bureau as this is their fault. I am considering surrendering my vehicle to get these people out of my life and if I do, I am going to make sure I have a good attorney to keep them off my back. We need to come together for a class action lawsuit.
     
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Posted by Anonymous on 2009-09-04:
File a chargeback (if cc or debit card was used) with the collection agency and send the payment to Fifth Third.
Posted by saj80 on 2009-09-04:
justthefaxx, I don't believe a customer can arbitrarily fild a chargeback. The bank would have to do this, and since they are saying no funds have been received, what are they going to charge back? This poster needs to obtain an account history for this loan, and find out exactly where the missing payment is. However, when someone makes arrangements to extend or delay payments, if it's not in writing, proof of the intension is often very difficult.
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