Consumer complaint received 2024-04-23
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: FIRST HORIZON BANK (TN)

Four Unauthorized Withdrawals/Debits from First Horizon Share Account # XXXX  My wife and I opened two joint accounts with First Horizon in XX/XX/XXXX [ Checking Acct # XXXX and Money Market Savings Acct. # XXXX  ]. Each month since XX/XX/XXXX we made in-person deposits around the first of each month. The Money Market Savings account was set up to pay significant household expenses. Since opening the accounts, less than ten withdrawals/transfers were made from the money market savings to our joint checking account. I am providing this summary of our account activity as a contrast to the unauthorized debits allowed by First Horizon on XX/XX/XXXX and XXXX, XXXX. 

We did not regularly access our First Horizon Joint accounts as our transactions were mostly in person. In XX/XX/XXXX when attempting to login to the joint accounts without success, I contacted the First Horizon customer service line and was told to go to a local branch to get assistance. On XX/XX/XXXX my wife and I went into the First Horizon office at XXXX XXXX XXXX, XXXX, TN XXXX and were assisted by XXXX XXXX, Relationship Banker. XXXX XXXX contacted IT/Customer Service to have our online password reset by emailing me a password reset notification. The attempts to send me reset notifications were not successful and XXXX XXXX was told by IT/Customer Service that the account email on record since XXXX XXXX  was different than the email I provided to her. The IT/Customer Service representative then changed the email back to XXXX from XXXX. I stated that I had never had the XXXX  email and had not changed my email to a XXXX email account. 

I asked XXXX XXXX to print out our account statements for the third and fourth quarters of XXXX, since neither me or my wife had received email notification of the availability of account statements. XXXX XXXX provided a printout of our joint checking and money market accounts. We immediately identified that our joint Money Market Savings Account statement information showed four debit withdrawals totaling {$4000.00} dollars ; XXXX {$1000.00} dollar debits on XX/XX/XXXX and XXXX {$1000.00} dollar debits on XX/XX/XXXX. I informed XXXX XXXX immediately that neither I nor my wife authorized those four debits of {$1000.00} dollars each. XXXX XXXX informed the manager on duty for that day. I was told an investigation would take place and I would receive a copy of the investigation in the mail. The account statement copy provided to us on XX/XX/XXXX by XXXX XXXX shows that four debits were made by xxx. However, those debits were not made by me, authorized by me or benefited me. On XX/XX/XXXX IT/Customer Service contacted me to assist in my effort to access our online account. I attempted to access our account with the temporary password provided without success. I was informed by the IT/Customer Service representative that the account login ID had been changed and that I would need to use the revised login ID to gain access to my account. I refused to use a login ID that I had not changed. At that time the IT/Customer Service representative stated that the account email address, contact mobile phone number, and the login ID had all been changed in XX/XX/XXXX. 

I did not receive any contact or correspondence from First Horizons XXXX XXXX or the fraud investigation group as promised on XX/XX/XXXX. Therefore, I contacted the XXXX Police Department and completed Incident Report Number XXXX. I provided the Police Incident Report Number to XXXX XXXX, Asst. V.P. & Banking Center Manager First Horizon XXXX, TN Main Office at XXXX XXXX. 

On XX/XX/XXXX at XXXX PM, First Horizon GR, Customer Solutions Representative, left a voicemail related to my complaint requesting a call back in reference to Case Number : XXXX. I returned the call and was told to go into a First Horizon branch and complete a fraud complaint. On XX/XX/XXXX my wife and I went into the First Horizon Branch on XXXX XXXX and completed the bank fraud form and provided a letter including extenuating circumstances related to the unauthorized debit. ( attached ) XXXX XXXX accepted my letter and completed XXXX bank fraud forms and stated XXXX XXXX would submit internally. 

On XX/XX/XXXX I received a letter dated XX/XX/XXXX from XXXX, First Horizon. In the letter First Horizon stated I had been advised in XX/XX/XXXX to visit a First Horizon banking center at your earliest convenience to submit a Written Statement of Unauthorized Debit to dispute charges on your account. ( attached ) I unequivocally dispute the description of communication and events and conclusion by First Horizon that I did not visit a First Horizon banking center and that the 60-day window to dispute charges is applicable. I believe the regulation 12 CFR 1005.6 ( b ) ( 4 ) Extension of time limits due to extenuating circumstances is applicable to our case.

The extenuating circumstances include inaccurate communication by First Horizon, failure to maintain customer login credentials, First Horizon inadequate monitoring of customer accounts for unusual activity, First Horizon allowing withdrawals after inadequate communication on account affected and freezing of account. During the period of XX/XX/XXXX thru XX/XX/XXXX my wife and I were in Washington State and Alaska. I received a call on XX/XX/XXXX at XXXX XXXX  about possible fraudulent activity on an account with xxx as the owner. I informed the First Horizon representative that I had a business account with just my name and a joint account owned by my wife and I. I was told the fraud involved the account with only my name listed on it. I told the First Horizon representative I would follow up when I returned home and agreed to having a freeze on the account in question. There were two unauthorized {$1000.00} dollar debits permitted by First Horizon at the same time that I was being notified on XX/XX/XXXX of possible fraudulent activity that occurred on XX/XX/XXXX. 

Note : Since XXXX, I was the sole owner of a business account that included a First Horizon Business Checking Account # XXXX  and Business Savings Account # XXXX. The business accounts were in my name only, XXXX XXXX XXXX. 

I was suspicious that this might also be a fraudulent call seeking information on our accounts. After returning home in XX/XX/XXXX, I stopped into the First Horizon Bank Center located on XXXX XXXX XXXX in XXXX, TN and discussed the phone notification related to my business account potentially having unauthorized debits with a customer representative. The representative looked on her system informed me that she did not see any notes on unauthorized debits. At that time, I requested the closure of both my XXXXst Horizon business account number XXXX  and First Horizon business savings account # XXXX Since the phone call on XX/XX/XXXX identified potential unauthorized debits on an account with only xxx listed as the owner and no written notifications or emails had identified otherwise, I believed this issue had been resolved. 

Neither my wife nor I are wealthy or forgiving enough to allow unauthorized debits to our joint accounts without following every process necessary to have that theft corrected. The representatives call from First Horizon did not correctly identify the account that was at risk in that XX/XX/XXXX phone call. No further written or verbal notifications were received related to our on-line accounts login ID, password, and contact information being changed in XX/XX/XXXX. 

The first opportunity to identify fraudulent activity was on XX/XX/XXXX when the First Horizon representative printed out the statements. Therefore, timely notice was not provided for the joint accounts in question to allow us to report unauthorized activity on a statement within 60 days. We provided verbal notice to First Horizon on XX/XX/XXXX, written notice and a copy of the XXXX Police XXXX Report on XX/XX/XXXX. We submit that we have provided timely notification to First Horizon of the unauthorized withdrawals/debits and that we should be made whole by restoring the {$4000.00} that was fraudulently taken from our account.