Consumer complaint received 2023-10-11
Company: FIFTH THIRD FINANCIAL CORPORATION
State: OH
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Can't stop withdrawals from your account

Complaint:
For the last year, XXXX XXXX has been wothdrawing {$570.00} from my account on a monthly basis. The withdraws were supposed to end on XX/XX/2023. They informed me they would continue ot deduct money from my account, in which I informed them they did not have approval to. 

On XX/XX/2023, I contacted Fifth Third bank concerning this and requested a stop payment be placed on my account for any future withdraws from XXXX XXXX. Fifth Third Bank then charged my account {$33.00} for the stop payment fee. 

On XX/XX/2023, the withdraw from XXXX XXXX for {$570.00} showed pending in my bank account. I immediately contacted Fifth Third Bank asking how this could be because I had placed the stop payment on the account. I spoke with a supervisor who informed me that it would show pending for up to 3 business days while XXXX XXXX continued to try to force the money from my account. She informed me that under no circumstances would my money be given to XXXX XXXX and that this was just their process. I complained to her that she had charged me {$33.00} for the stop payment and that it was unfair that my money was on hold in a pending status so i couldnt withdraw it. She again assured me this was thier process and that the stop ayment was in place and my money would not be given to XXXX XXXX. 

On XX/XX/2023, the withdraw of {$570.00} was taken from my acocunt and given to XXXX XXXX. I contacted Fifth Third Bank as soon as I realized this on XX/XX/XXXX. 2023. First I was told that I had waited too late for the stop payment because XXXX XXXX had already submitted it to my bank. I refuted that informing them that XXXX XXXX did not submit it to my bank until XX/XX/XXXX. I placed the stop payment on XX/XX/XXXX, more than XXXX business days ahead of the time that it was submitted to my bank. 

I was then transferred to their dispute department. The dispute department told me that they would initiate a dispute and that it could be 8-14 days before it was settled and my funds returned to me. I refuted that. This was a mistake on Fifth Third Banks behalf, not mine. They told me they needed to contact the other bank to try to get the money back and I would have to wait and see. They charged me {$33.00} for a service they did not live up to. I also demanded that money be refunded to me immediately. I told them the issue with the other bank was not my issue, it was thiers. It was their responsibility to enforce the stop payment and they failed miserably. I should not be punished and have to wait to have access to my funds until they get thier stuff together. I have bills to pay and who's going to buy the grocieries for my family with almost {$600.00} missing from my account? 

Fifth Third bank has failed miserably in their responsibilites to obide by the regulation and supervision primarily by the Federal Reserve, the Consumer Financial Protection Bureau and the Ohio Division of Financial Institutions and additionally by certain other functional regulators and self-regulatory organizations. 

They made the mistake. I did not. I need my money returned to me asap. As soon as it is returned to my account, I will be moving my banking to a better institution.

Company response to consumer: Closed with monetary relief