Regions Bank Complaint - Bank Fees Are Killers
C -- Well after a day like the one I have had I now have joined a blog sight like this...
Where to begin Regions has just charged me over $350.00 in NSF fees for a $1.00 mistake YES $1.00
It seems that due to computer programing, and the desire to make money off of you the customer Regions operates in the following manner. All transactions that occur after 2pm are held in a PENDING status until the next Business day (No not Saturday) Monday and all transactions are deducted from your account, EVEN IF it doesn't show on your web account or ATM balance. Now here's where it gets fun, ALL transactions that happened after 2 pm Friday go into the computer after business hours on MONDAY, and if your account balance does not equal or is greater then the drawn out balance you pay over draft fees... Banking 101 right. RIGHT!!! BUT and this is the fun part if the previously stated occurs (balance does not equal or is greater then the drawn out balance) YOU PAY overdraft fees on EVERY single TRANSACTION!!!!!!!!!!
It seems that Regions computer system is not set up to take transactions in the order that they occur in stead it compiles all transactions and deducts them as one, but separate transactions taking the highest dollar amount first. So even if the $29.00 you spent ordering pizza on Friday night, is higher then your credit card payment of $25.00 you made online Friday at 4 pm guess what gets paid first (thats right wouldn't want your credit report ruined over pizza)and by the way if you had $53.00 in the account now your 70.00 negative in your account cause Regions charged you for both transactions as NSF even though you had enough money to cover at least one transaction so again you pay $35.00 for each transaction.
It would seem to me that a company as large as this should be able to afford a computer program that can organize transactions by the Date and Time they occur, just like the ATM machine automatically shows you your new balance once you take out $20.00 from the ATM.
And Yes someone will write and tell me that this is how all banks do it and I should be better at math, DUHHHHH!!!! So yes I didn't do proper Subtraction and missed a buck somewhere, but if Regions would simply configure the system to identify date and time of transactions, and deduct from your account as actions happen then maybe I would have seen I was getting close to over drawing and would have put the fishing lure or the bananas back and saved my self a whole lot of money. Regions decides instead to shotgun blasting the deductions and pay for all the new branches going up everywhere.
So long Regions bank, Hope you go bankrupt and all your banks get robbed, Just like you robbed me......