Consumer complaint received 2024-12-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Non-sufficient funds and associated fees
Company: REGIONS FINANCIAL CORPORATION
State: TN

Complaint narrative:
During the week ending on XX/XX/year>, Regions Bank, had charged me overdraft fees totaling {$210.00}, in accordance with their overdraft fee policy, whereby, you have until the next day to cover charges by the close of business at XXXX cst. {$72.00} of which I was erroneously charged on Saturday for what they claim was a negative balance on Wednesday by the allotted time. That is correct, they retro-charged me from 3 days back after I had cured and brought my balance current both on Wednesday and Thursday, from automatic debit charges that had come in after receiving my paycheck on Wednesday, XX/XX/year>, which they typically 99.9 % of the time process two days ahead of Friday. At least that's what I was told the 3rd and 4th times I called, the first and second times I was told the fees were for two separate charges for {$58.00} and {$50.00} that posted on Friday, whereas I argued that this was not in accordance with their policy to allow me to cover charges by XXXX on Saturday. However, after describing all of this my account was not reflecting a negative balance by the close of business on XXXX, XXXX, or XXXX After speaking about this with the initial representative, she agreed that I was correct and that I would have to wait until Monday XX/XX/year>, 'til the nsf fee debit of {$72.00} posted in order to speak with a supervisor to have the fees removed. I argued that the charges had already affected my account as a deficit, and I still would have to cover those fees along with the automatic debit that had posted before then in order to not receive additional fees. I called back within the next XXXX mins. ( for obvious reasons ) to verify that this was true, the second rep. reassured that all of which was true. Called Monday, still hadn't posted and was told that the fees were for two different transactions on the Wednesday in question, as other automatic drafts were coming in, was told to call back on Tuesday. On Tuesday, XX/XX/year>, spoke with a representative who reiterated that the charges were from the two latest debits spoken of on the 3rd phone call for Wednesday XX/XX/year> whereas, after receiving funds from my paycheck that covered the total negative balance of over {$600.00}, there were two separate charges from a payday advance, XXXX, of {$160.00} that supposedly left my account negative on Wednesday as she explained. The only thing is, is that XXXX debits on Thursdays, I made sure of that because as I stated I'm typically paid on Wednesdays, and I was able to borrow that right back. After being escalated to a supervisor on the same call, the supervisor then stated that the fees were indeed from XXXX, even though I borrowed the money right back, she stated that because it was an electronic ( instantaneous ) transaction, they didn't receive the funds from XXXX 'til 2 days later. None of which reflected on my mobile banking app which is supposed to be the most up to date information. I then stated to her that the problem seems to be an internal processing issue as is always the case with Regions, as I had done this numerous times with no issues. Cut to Wednesday, XX/XX/year>, as I stated previously Regions always process my paycheck two days ahead of Friday when they receive the electronic verification ( funny how that works in this case but not in others ), but on this past Wednesday, because they were slow processing my transactions that debited on Tuesday XX/XX/year>, as I am running out of money by paying all of the fees, giving me 'til the close of business on Wednesday, XX/XX/year> and having received electronic verification from my company to issue my check as they typically do... They went ahead and charged me {$100.00} in nsf fees first and the processed my paycheck leaving me with a deficit again, of {$110.00} dollars!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation