I have been a customer of Fifth Third Bank and former customer of Cabarrus Bank and Trust. I chose to stay with your bank I believed in this company, I would be treated fairly and kept informed. Being a customer of 5th 3rd and using the online service I have never had any issues except with the exception of the time Bill Payer failed to let me know the due date they would be withdrawing payments from my account.
Before the bank decided to change the operation of their online bill pay site, I could pay out my bills and within a 24 hour period the money was withdrawn from my account. Prior to 8-12-11, I checked my balances and I saw there was money in the account, and then on 7-30/7-31st I checked the account because my paycheck came in and I paid out the bills for the month of August.
On 8-13-11, my pay day I went into the account and was horrified to what I encountered. Until 2 months ago I have used their online bill pay service without any problems, and subsequently when 53rd bank redesigned their online bill pay is when the trouble started. Before the modification, the customer could make a payment and 24 hours later it show the payment deducted from your account balance.
Before Friday the 12th, I checked my balance and it was fine, then on Friday the 12th I checked my balance and I saw where the bank drafted just about all my bills on the 8th of August from the weekend of 30/ 31st. putting me in over drafts and fees of in excess of 500.00.
I was hysterical, irate and in distress when I made this discovery. To further distress me I made at least 4-6 calls to the 800 on the back of my card; where I was transferred at least 6 others times and the last person spoken to (in the retail department) stated he would call Shawn at the Kannapolis branch and I was to meet him about 4:00 pm, of course Shawn stated he never got that call and was handed off to another CSR.
Within this time frame I was not contacted about the over drafts nor fees. The CSR stated she couldn't help me because I had opened my account in Concord, which is a lie, I started my continued checking business that I was with Cabarrus Bank and Bank and Trust and I presently still use their checks.
On Saturday August 13th I did get 2 letters after the fact. While being a long time customer holding 3 checking accounts and a CD, I was never told or warned about the preventive measures (linking accounts or get over draft coverage protection). I will say the last person (the man in the retail department of 5th 3rd) did say a lot of customers had over drafts that normal. I feel that my bank failed to explain how the new system worked, the preventive measures and a phone call letting me know what was going on with my account. Since then I have tried to schedule a payment 4 times and it would not let me schedule it for the next business day. Fifth Third Bank debts my account not as I want it scheduled; but when they want to.
They failed to educate the new system to the old customers and failed to educate us with information on prevention of over drafting. Since this happened I have closed my CD account so I would have money to pay my bills with because of this amount of money taken for fees.
The public needs to know that taking money at there discretion and not posting it immediately created excessive fees which is against the law. With this posting it will alert other customers to what your banking practices are and this may end up as a class action suit.
I have seen online that this is not the first time this bank has had problems and I will be contacting FDIC, BBB, Banking commissioner and Action 9 News. If you return my fees, I will withdrawal funds and go to another bank that I can trust.
Review about: Fifth Third Bank Banking Service.
Monetary Loss: $515.