Regions Bank Complaint - Regions Bank - Inept Again!
BIRMINGHAM, ALABAMA -- Update #3 - 02/04/11 has been added at the end
Update #2 - 01/24/11 has been added at the end
Update #1 - 01/20/11 has been added at the end
This time they have shown my son how inept they are.
Several months ago my son used his Regions Bank debit card to pay his Geico insurance premium.
About Nov. 3, 2010 he closed his account with Regions Bank. No items were outstanding at the time of the closure.
A change was made to his insurance policy which resulted in a $26.49 refund due from Geico. He instructed Geico send a check via the US Mail. On Nov. 18, 2010 Geico refunded the money to the closed account. So, at this point Geico has initiated the problem.
Now enter Regions Bank to compound the problem. Regions cannot post this money to a closed account. They do not return it to Geico. They hold it and wait for my son to contact Regions. (This is according to a Regions CSR) My son would have had no reason to call Regions - the account was supposed to be closed!
A month passes - no check from Geico. He calls Geico. Geico spends an hour trying to find out what has happened. Now he finds out that Geico has mistakenly sent the refund to Regions. Geico says they will retrieve the money from Regions and send him the check.
Now, here is where Regions really screws things up. Geico requests the return of the money that could not be posted to a closed account. What does Regions do? You guessed it! They debit the closed account on Dec 23, 2010 for $26.49. (Regions CSR states they do not officially close an account for 30 days in case there are outstanding items that have not cleared.) Problem: This account has already been closed for 50 days!
The only way he finds out about this disaster is Regions sends him an overdraft notice. So, he calls Regions and appears to get a solution figured out. They found the money but they cannot just erase the overdraft condition. They state they will send a check and then he can go to a local branch and deposit the check to clear the overdraft. Well, two weeks and no check.
Update will follow.
Update #1 - 01/20/11
Went to the local branch. The story is now they will honor ACH debit card transactions for an indeterminate amount of time after an account has been closed. That's right, at some point they will refuse them but not to any time frame they will disclose to the customer.
As it stands now the account will not allow any posts of any kind. Not even to clear this overdraft condition. The branch manager says they should have this straighten out within a couple of days. My confidence level is about 75%.
Stay tuned for more details as they become available.
Update #2 - 1/24/11
The check Regions stated they would send was finally received. It was taken to the local Regions branch in an attempt to clear the account once and for all. The Regions cashiers check was signed and accepted for deposit. I presented the manager with a letter stating that the depositing of this check would clear the account and result in a complete closure. She refused to sign the letter.
The reason is they must be certain there are no other outstanding transactions that might need to clear. Two times I was asked if I was sure there were no more outstanding checks to clear. I could never get her to understand that only Regions had done anything with the account since it had been closed. At this point they absolutely refuse to acknowledge the closure of this account.
I don't think this is over yet. I will keep this updated.
Update #3 - 2/4/11
Four emails have been since Jan 25th in an attempt to get written confirmation that the account is, in fact, 100% closed and no other transactions can possibly take place. The last one was sent today and finally received this response:
"Your account is closed and nothing else will come through it unless you've authorized it."
As you can see Regions leaving the door open for anything to happen and CLAIM he authorized it. They refuse to acknowledge that the last transaction after the account was supposed to be closed was NOT authorized.
Regions Bank has proven complete incompetence through this entire process and steadfastly refuses to confirm the absolute closure of this account.