Fifth Third Bank Complaint - Misrepresentation - Misinformation given by employees in the loans/claims departments
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.