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5th/3rd Bank Complaint - Find Another Bank, 5th/3rd Is A Dinosaur That Needs To Die

Review by bojingo on 2009-01-04
A retched archaic company that doesn't care one bit about the customer. They don't provide any ability to receive automated notifications (except by snail mail) of when there is a problem on your account so you end up going days and days accumulating their $6 overdraft fees until you notice there is a problem. Who the hell doesn't provide those services these days? This is the information age - put the information at the hands of the customers so they can effectively manage their own finances!!!

In the end they made out with $176 of charges for a simple oversight on my part that shouldn't have cost more than $33. I even tried to resolve the problem (after already being charged nearly $100) but the very same day my transfer to the account from my other bank went through they hit me with an additional round of fees that put me back in the negative!

They are incredibly slow at updating the account information. Either they are completely incompetent in developing their systems, they just don't care, or, worse, they intentionally delay posting information to further abuse their customers and get that much more in fees out of them. There are plenty of banks out there that are pretty much instantaneous at posting transactions and can be personalized so you can receive any type of notification you want for any number of things.

Oh, and don't even get me started about their endless marketing spam. Don't bother telling them you aren't ever interested in any of their offers, they will tell you they will take care of it, but it's all lies. This company is a dinosaur that needs to die.
Comments:7 Replies - Latest reply on 2009-01-04
Posted by Anonymous on 2009-01-04:
They're a dinosaur? I've never even heard of them.
Posted by spiderman2 on 2009-01-04:
$6 overdraft fee? I have never had to pay one of those but aren't most overdraft fees in the $30 range?
Posted by Anonymous on 2009-01-04:
The $6 fee is a daily fee charged for every day that you are overdrawn. The first thing you should do (after getting a spell checker) is to get a check register and begin managing your account like a responsible adult. You'll find it's a whole lot cheaper than trying to keep track of your balance online.
Posted by Ben There on 2009-01-04:
This is the same as a lot of small banks that just don't have the money or people to invest in fancy online banking and text message services. They actually expect you to keep up with your own money like we did for all of the 20th century. Many people still like the personal service and sometimes better rates that these local outfits offer, and they don't need a text message everytime they get low on money cause they know exactly how much they have anyway. These smaller banks tend to be in better finacial shape currently as well so it can be easier to get a loan cause they didn't get involved in sub primes.

It is a personal choice... If you want lots of bells and whistles, go to Chase, BofA, etc... As I am on the road a lot I like having a much bigger bank and the online stuff myself but that does not mean there is not a place for small banks.
Posted by old fart on 2009-01-04:
I was a customer of 5/3 for a number of years and had not ONE problem with them... the only reason I changed is to go to a credit union more convenient to my home...
Posted by old fart on 2009-01-04:
Somehow I have never been able to muster up any real amount of sympathy for someone who overdraws their account, especially when they complain about the "unfair " fees the bank charges for the overdrafts..

Here's a bit of advice for you...STOP WRITING NO ACCOUNT CHECKS!!!
Posted by Ponie on 2009-01-04:
'... put the information at the hands of the customers so they can effectively manage their own finances!!!' This information was already 'at' your hands. You provided it--now make use of it. Every bank will give you a personalized notification. 5th/3rd gave you your first one when they issued a check register when opening your account. It's not the bank's fault that you don't know how to use it.

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