Consumer complaint received 2022-11-17
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: REGIONS FINANCIAL CORPORATION (FL)

This Concerns Regions Bank on both a personal and business account. 
On XX/XX/XXXX at XXXXXXXX XXXX XXXX I received a text notice from Regions bank of possible fraud a wire transfer via XXXX XXXX to an unknown account was requesting wires of {$300.00}, {$300.00}, {$300.00} dollars. I logged into my region 's account to verify the fraud and saw them listed as pending. I then received confirmation codes to approve the wire I did not approve the wire or share the codes with anyone else. I then called and spoke with Regions fraud department and instructed them to freeze my account. I was told the account was locked however the wire transfers still went through. At XXXX XXXX  I could not login to my account to check what was going on as the fraud department had locked out my access but did not lock the account from sending out funds. Friday, XX/XX/2022 I learned that more funds had disappeared from my business account associated with my personal account at Regions. Someone had wired {$61000.00} to a XXXX  account. I further discovered at XXXXXXXX XXXX XXXX that my wife could still get into our account and I saw the wire transfers were sent even though I called and said they were fraud even though my account was supposed to be flagged and closed due to fraud. I then called electronic banking at Regions and told them what had happened and they said they froze my account they then transferred me to the fraud department and I again explained what had happened and asked the XXXX wires be listed as fraud and file a fraud report. Then the fraud department said my account was not frozen and did I want to freeze the account. I told them yes, I was mad because I had called and now spoken with XXXX  representatives and my funds were still not safe. I was told to go to my local branch to close the account and open a new account. I said I would do that. On XX/XX/XXXX I had to go open an account at a separate bank and scrounge up whatever cash I had to pay bills that would now bounce due to the fraud it took me all day. On XX/XX/2022 at XXXX XXXX I went into Regions Branch and spoke with the representative and found out that my account was frozen however the wire transfers still went through I requested a copy of who authorized the transfers and she could not tell me. I filed complaints with her about all that had happened to that date. I then requested the balance of my funds to be able to pay my bills she said she could not as the account had been frozen and even the assistant manager came over and explained they had to submit a request for my funds and it could take days. I told them this was crazy that the person committing fraud could get to my funds and perform a wire transfer even though I had not ever set up wire transfer options or authorized the transfer. But I the rightful owner of my funds could not get to my funds when I requested them after providing all required proof of ID. 
Due to the holiday of XXXXXXXX XXXX  the XXXX  was closed Friday. On XX/XX/2022 at XXXX XXXX  I received a call saying that regions had released my funds. I then drove to retrieve my account balance. At XXXX XXXX  I met with the region representative at the bank and requested my funds I asked if there was any update on my reports of fraud and the wire transfers with XXXX XXXX. She check online and told me that there were no Fraud reports showing on my personal account about the wire transfers. I then instructed her to please do so. I then asked her to file a complaint against the fraud department for having done so when I requested it back on XX/XX/XXXX. At this point, the level of incompetency with Region 's fraud prevention and service departments has not returned any of the funds they have not done as I the client and owner of the funds have requested on numerous times. I have not had any of my funds returned even though the business funds were found at XXXX XXXX by the XXXX XXXX. My personal fund have not been returned even though I confirmed they were fraud back on the XXXX, the XXXX, the XXXX, and the XXXX. I have late bills causing late fees totaling {$1200.00} so far. My business has no funds and I feel violated and that my rights are being overlooked for the bank 's own gain. If I did not authorize the transfer who did period? I have sat with the Regions bank staff and they can go onto my account and see I never established the ability to send funds via XXXX XXXX. To date, I have not received a copy of the authorization for any of the wire transfers even though I have requested them for both accounts. I was never contacted about the business funds being wired even though I have 2-point verification security on all my accounts And I was never charged the wire charge to transfer the funds. I believe Regions bank was hacked and they are not disclosing this to their clients. I am in insurance and financial services I can say further, the actions taken are not professional and in the client 's best interest.