Consumer complaint received 2019-01-22
Company: REGIONS FINANCIAL CORPORATION
State: NC
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have an account with Regions Bank which is a fairly new account, I have considered closing the account due to the fact that there are limited Regions banks conveniently located throughout XXXX, NC. As a result, the only way in which I am able to fund the account is through Direct Deposit or electronic bank to bank transfers or through transfer services like XXXX XXXX or XXXX. The initial problem began XX/XX/2019, Regions charged a service fee of {$8.00}, I noticed that the fee was causing my account to reflect a negative balance so I immediately made a transfer on that same date of {$10.00} via XXXX XXXX to the account. After transferring the funds, Regions updated the account to reflect the transfer and my account showed a positive balance. A few days after that, on XX/XX/2019, I made two other transfers using XXXX XXXX to fund my Regions account because I needed to go to the grocery store, I went to XXXX XXXX and XXXX XXXX on that date and checked my balance prior to shopping. The account was reflecting a positive balance. However, I see an NSF Fee of {$36.00} was charged on XX/XX/2019, and when I checked my account on last week, I noticed that Regions actually posted the transaction on Monday, XX/XX/2019, instead. On XX/XX/2019, I made another transfer into the account using XXXX XXXX of approximately {$440.00}, these funds were used to pay bills. I paid {$89.00} to a payee ( XXXX XXXX ) as well as made a few other transactions. Again, I budget my funds to the penny, I knew exactly how much money I had and was carefully monitoring the account to ensure that I would not " go over '' my available balance. However, I see that my payment was returned and I was not notified via e-mail notification or any type of notice that the payment was returned until today, XX/XX/2019, when I received a notification from the company, XXXX XXXX advising that the payment was returned and I was charged a {$15.00} fee. In addition, I received MORE fees from Regions for a returned payment but the funds were there so my question is why am I being charged all of these fees when I am making transfers and depositing to the account? I contacted the branch where I opened the account and spoke with XXXX who stated that Regions processing time is delayed and therefore transactions sent after XXXX XXXX is posted the next day. I explained that I was never given this information upfront and was disturbed by the fact that it does not warn you of that prior to completing any type of transaction or anywhere in the bank 's Online portal but, he did not attempt to offer any courtesy refund for the inconvenience and the fact that the bank does not have ATMs within 2-5 miles of my area. I am just getting back to work, as the bank can see based on my deposits and I do not have money to pay in fees. As of date, I have paid {$100.00} in fees that should not have occurred. I have proof of the dates in which the funds were transferred according to my XXXX History. There is no reason as to why there should have been such a significant lag in processing times, especially when it was an electronic transfer. XXXX suggested that I use XXXX, but XXXX is just the same as services like XXXX XXXX, XXXX XXXX and XXXX. So technically, had I used XXXX, there would have been a possibility of the same issue. A fair resolution would involve Regions reversing the {$100.00} in fees. Also, when you call to speak with someone regarding this issue, it seems as if no one can help. There are extensive hold times and you are told that a ticket is being entered but it takes almost 2-3 weeks for the ticket to be resolved. Regions may not be the worst bank but their processes need updating.

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