Consumer complaint received 2021-11-04
Company: FIFTH THIRD FINANCIAL CORPORATION
State: KY
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On XXXX, I discovered ten fraudulent charges that had posted to my checking account. I called the phone number listed in the transaction ( XXXX ) the representative stated that these were international charges for the purchase of online gaming. There were nine charges of {$82.00} and one charge of {$66.00} for a total of {$810.00}. I informed the XXXX rep that I did not make these purchases and that they were fraudulent. Through my credit card number, she was able to discover that someone had created a bogus account using my credit card. The card was blocked and she advised me to contact my bank ASAP to shut down the card and advise them of the fraudulent charges. I called 5/3 Bank Dispute Department and spoke to XXXX. I told her that these charges were fraudulent and that I need to dispute them. She stated that she could not start a dispute until all the charges posted to my account. This would not only put me in a serious overdraft situation, but I would also incur hundreds of dollars in overdraft fees. She stated that it would take at least 8 days to resolve this dispute. I told her it does not make sense for XXXX to let fraudulent charges post to a customer 's account and cause the customer to be out that amount of money PLUS overdraft fees just because some criminal stole my money! In the past when I have filed a dispute for fraudulent charges, XXXX would immediately credit the amount back into my account, THEN start an investigation into the charges. They would send a letter to me stating that they are investigating the disputed amount but that if it is found that the charges were not fraudulent, 5/3 would take the money back that they had previously credited to me. I don't know when or why they changed this policy. I have bills to pay NOW and 5/3 is holding my money hostage and is not giving me a choice but to be at their mercy They are not protecting me as a customer or my money. $ XXXX may not be a lot of money to some, but it is MY money that I worked hard for and I need it to pay bills. I am a XXXX XXXX but I am off work due to Covid so I am already struggling financially. If I don't pay my bills, I will have late fees on top of everything else. If I DO pay my bills, my checking account will overdraft and I will get charged fees. 5/3 has put me in a lose-lose situation and is essentially saying " too bad-you have to play by OUR rules ''. I even spoke to a supervisor named XXXX who told me the same thing that XXXX did. She said I could file a complaint but it would not change their way of doing things. Regarding any overdraft fees, she said I would just have to call 5/3 AFTER the dispute is resolved and have those reversed.

What??? I should not even be put in a position to overdraft and wouldn't be if someone hadn't stolen my money and if 5/3 would not let the fraudulent charges post to my account!! I am being penalized for someone stealing my money. This way of business is unacceptable. I know if they are doing this to me, they are doing to a million other people too. Someone needs to put a stop to this.

Company response to consumer: Closed with explanation