Regions Bank Informative - High Fees with Terrible Customer Service
HUNTSVILLE, ALABAMA -- I am about to close out my Regions Bank, not because of those fees, but the combination of excessive fees, failure to update online bank information in a timely manner, poor customer service e-mail response, long delays when calling customer service, long wait when waiting to talk to branch employees and my pet peeve; unable to answer questions and failing to follow up with phone calls.
The most frustrating problem was manipulation of daily deposits and withdrawals so that the maximum fine could be charged. Not once did Regions try to work with me and whether it was a weekly unemployment check back in 2010 or this year with a direct deposit of $1750/week they always charged a "just in time" fee. For instance, I would check my Thursday night balance and see I have maybe $400, but Friday morning even with $1750 posted they would fine me $70 for an Thursday night overdraft. When I called them they would claim, "Our online service does not guarantee the amount posted is available, and you agreed to this when signing up for online banking". The other excuse was, "We do our last batch processing at MIDNIGHT". So at midnight a $12 overdraft includes a $36 fine and then at 6 AM Friday morning (6 hours later) the direct deposit is posted and available. Whatever way they can legally and unethically take money from you they went out of their way to exploit this. I recall going to a Title Loan/Payday Loan and telling them, "The difference between you guys and Regions Bank is you tell me up front what the fee will cost". When I can trust and turn to the local Title Loan/Payday Loan company as opposed to Regions Bank that makes my point. I am tired of them and as they claim to "be listening to their customers" and this was a lie. The reason Regions ended Debit Card Fees is because Bank of America and Wells Fargo had already announced they cancelled their debit card fees. I do not believe Regions would have cancelled any fee if these other banks didn't do it first. As for Wells Fargo, they may charge fees, but their customer service and their branch staff always addressed my concerns in less than 10 minutes