Consumer complaint received 2016-02-09
Product: Bank account or service — Checking account
Issue: Problems caused by my funds being low — 
Company: FIFTH THIRD FINANCIAL CORPORATION (IL)

I would like to file a formal complaint against Fifth Third Bank for unethical business practices and abuse of power. My account is often over drafted. In accordance with Fifth Third business practices, they have habitually and consistently paid my overdrafts and assessed my account fees accordingly. Within the past 5 months, approximately, their business practices have noticeably changed. Not only was I not notified of any changes to my particular account but it has cost me substantially more fees and distress. Of the fees assessed in XX/XX/XXXX, approximately XXXX % were assessed XX/XX/XXXX. There are XXXX particular sets of circumstances that cause me to file this complaint. First, Fifth Third Bank has returned payments and charged me a fee ; the same merchants have re-presented the same payment, Fifth Third has then paid the merchant and charged me another fee. Between the times the merchants presented the transactions, nothing has changed on my account. When I asked the question of how this determination is made to pay or not pay a transaction, I was told that my overdraft protection changes on a day-to-day basis. Hence, the unethical business practice. 

I was later told that my overdraft protection was {$2500.00}. Payments were returned and fees were assessed when I was below this limit. This not only falls under unethical business practice but abuse of power of a large corporation over a consumer as I have absolutely no way to get my money back or to stop them from continuing this atrocious business practice. My initial communication regarding this situation was directly to the Office of the President via e-mail on XXXX XXXX, XXXX. I received a letter dated XXXX XXXX, XXXX indicating that as a courtesy, XXXX fees were reversed and enclosures included a copy of the Fifth Third overdraft solutions and Early Access terms and conditions, not answering any of the questions I had which included, what is the exact amount of my overdraft protection? And what had changed in my account within the past 5 months to create this new problem of even more and inconsistent application of overdraft fees? Upon receiving this letter of XXXX XXXX, I sent another email to the Office of the President on XXXX XXXX asking these questions again and requesting complete answers. When I had not received a response, I sent another request on XXXX XXXX, XXXX, not knowing that Fifth Third does not reply to e-mails directly, rather by US Mail due to privacy concerns. At this time, I received a response via telephone saying that the request has been received and they would review my concerns and respond. 
I then received a letter dated XXXX XXXX, XXXX indicating that my overdraft coverage was {$2500.00}, XXXX XXXX was no longer with the company, there are no plans to discontinue Early Access, there was no record of my phone call to customer service, and no additional fee reversals would be forthcoming. 
On Thursday, XXXX XXXX, XXXX I contacted XXXX . XXXX XXXX in the Office of the President via telephone and asked to escalate this situation to her supervisor. I was transferred to XXXX XXXX XXXX who was aware of my situation and agreed to review the file again. Today, XXXX XXXX, XXXX, XXXX XXXX called me to advise that there would be no further fee reversals on my account. She said that the overdraft protection was n't meant for the manner in which I 'm using it, rather, for such instances such as travel emergencies. My contention is that may be their intention but they have implicitly agreed to my use by honoring the drafts historically. Hence my letter to discuss the unethical business practices of Fifth Third Bank.