Consumer complaint received 2023-07-28
Company: SIMMONS FIRST NATIONAL CORPORATION
State: AR
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I recently received a letter in the mail from my bank that I have banked with for the past 24 years stating that they were closing my mother 's account for their small business and her person account that she has her XXXX check deposited into each month due to a review of the activity of the accounts. My parents started a small business about 25 years ago and have always Simmons Bank also. My mother had a XXXX in 2019 so I have been helping with the business because she is no longer able to walk , drive and her memory is affected. I take care of all of their personal bills and everything with the business. I was added to both accounts at that time. My dad was taking his checks he received each week to the bank to cash them and deposit what he needed to cover the amount of bills that he owed and payroll. The bank stopped being able to cash the checks due to lack of funds. We discussed that direct deposit would be a great option but he was very hesitant that he could not withdraw his money when he needed to. We did end up proceeding that rout and for the last several years, he has withdrew what he needed weekly without any issues in the small town bank that we have always used. Near the pandemic, there was a threat that the bank would close and we were devastated. We loved the bank and all of the workers. Thankfully they were able to keep the doors open but they were not allotted much money each week so they were unable to left my dad withdraw much. They told him he would need to get it out of the main branch in XXXX XXXX. The main bank is about 25-30 min away from my parent and my dad doesn't leave work till 4 so the bank would be closed by the time he could get there so I told him I could go by after work and withdraw the money for him since I am on the account also. I have had several issues withdrawing the money each week. My mother inherited a large sum of money and it took me about 2 moths to be able to withdraw all of that money. The sum was more than what the FDIC insures for so we decided it was better that we just keep it safe elsewhere. Every time I withdraw more than XXXX they ask why I am withdrawing that amount. I think it is ridiculous because someone could just lie about if they wanted to. I do not see how that is securing anything. After opening the letters, I called and discussed the situation with my dad and he agreed that we would just find another bank and start trying to swap all of our deposits and automatic drafts over soon. He and I spoke with the branch manager in our small town and she assured us that she tried to stop this but basically they sent her the paperwork and she was told to sign it and send it. They also spoke with the President of Simmons Bank in XXXX XXXX. The both told my dad that it come from the " back office '' and there was nothing they could do about it. I understand what is done, is done but I still do not have an answer as to why. I stopped by to close one of my personal accounts ( I have about 8 accounts with this bank ) and asked to speak with XXXX XXXX, I was told he just stepped out. I told the lady I would come back later and that I just really needed to speak with him about some letters I recived in the mail. I assured her I would be in again soon because I would be closing about 7 accounts and before I made it out the door, he became available. I walked into his office and he was very cold to start. I explained the situation and asked if there was something I should be concerned about because the only activity on our account was ours and I did not understand why that would cause them to close the accounts He got very defensive so I in turn did also. He kept referring to the " back office '' and it was their decision and they have that right. I told him that I totally understand that but I just needed to know who I could talk to that could give me answers if someone was messing in out account. He finally told me that it was what we were doing. We were withdrawing, depositing money, checks were going out and that was the activity they were talking about after repeatedly telling me he did not know why. I thought that was what banks were for. I reminded him that it was a business account. He would not give me a name or number of anyone to speak to, he just said he would " try '' to get some information for me. He asked for my name and number and told me that he he would get back to me if he could. I was upset for some of the meeting and fought back tears because I just can't image treating someone like that. I am a XXXX  and if a Doctor diagnosed a patient with something and they did not understand what it was, I could never look at that patient and tell them, oh well, the doctor should have explained it but I won't go get him so you can ask or I won't try my best to help explain it to you.

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