Consumer complaint received 2023-11-08
Company: REGIONS FINANCIAL CORPORATION
State: AZ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem accessing account

Complaint:
I contacted Regions Bank ( headquarters XXXX, Alabama ) on XX/XX/ to add a beneficiary designation to my account.. I've maintained my checking account with the bank for more than 41 years. I was told that in order to add a beneficiary designation to the account I would need to go into a branch office. I told the representative this was impossible, I live in Arizona, the closest branch office to me is in XXXX, Texas, over 900 miles away. They were very sorry, but there was " nothing they could do. '' Their answer is that in order to do this necessary thing, necessary according to my estate attorney, I would have to spend the money on an airline ticket, fly to Texas, take care of my business, and fly home. To be blunt, their answer is the thing that is easiest for the bank, not the thing that actually serves the customer. 

They insisted they have no other alternative. I find this impossible to believe in today 's fluid banking environment. I can take money from that account and wire it overseas, I can establish bank accounts in XXXX and never step foot in the country. Money flows through the economic system like water from a pipe and anyone paying the least amount of attention knows it. If Regions is truly this far behind in being able to do business in the modern economy then they have a problem. 

I spoke with XXXX account representatives, the intake rep and his supposed supervisor. The first account rep was named XXXX, the second, XXXX. When XXXX could not provide any additional information or relief for this issue - other than my flying to Texas I asked to speak to her supervisor. After being on hold for some XXXX minutes she came back and told me she couldn't find anybody above her who could " give me the same information. '' Those are her exact words and they pretty much told me everything I needed to know. At that point I told XXXX that I didn't need someone who would regurgitate the same useless answer, I needed somebody with authority to step outside of the script and help me with my problem. She put me back on hold. 

After XXXX minutes the call was ended with XXXX asking me for my phone number, ( information already in my account paperwork, so, whatever ) and she would " have someone call me back. '' Frankly, I am wondering if that will ever happen particularly since during our conversation XXXX told me that " no one in our higher leadership knows anything about these policies. '' As you might imagine I found that confusing. So I ask her, " are you telling me that the senior leadership of your bank doesn't know your bank policies well enough to understand or provide an alternate solution for this? Does that answer make sense to you XXXX? '' She put me on hold, again. 

I am sitting here seriously considering closing my account ( after 41 years ) and moving my business elsewhere. Which would certainly be easier and cheaper than flying to Texas to go to a branch office. But, mostly I'm thinking about moving my account because if senior leadership at Regions is indeed in capable of commenting on policies established by the bank that's sort of frightening and greatly erodes my confidence in their ability to continue to handle my money. 

To be clear, I didn't deliberately get myself in this situation. 41 years ago when I established this account it was not with Regions Bank, but a smaller chain in XXXX to which I had personal ties. That small bank was bought out multiple times until it became Regions. You would think that a financial chain with an appetite for eating smaller banks would have better procedures since they are buying banks with customers all over the United States. Many of who now live in places Regions doesn't have branches. You see, that small bank I originally had my account with is in a military town with XXXX of the largest military installations in the United States, a good number of their customers are people in the military. 


Thank you for your time and attention.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation