Consumer complaint received 2024-01-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Overdrafts and overdraft fees
Company: REGIONS FINANCIAL CORPORATION
State: GA

Complaint narrative:
Ive been banking with regions since XXXX. And this is the second time this has happened to me. I buy a lot of stuff on behalf of my Job and they write me reimbursement checks regularly. Usually they are to the tune of a couple XXXX dollars but we are doing some larger renovations so there were a couple that were a good deal higher than that. The first one they cleared right away with no issue. The second one though .... My employer wrote me a check for XXXX and I used mobile deposit the same way I always do. However I did forget to endorse the check, but they accepted it anyways and the money was reflected in my balance. So I started ordering things on my employers behalf. I checked my account to see where I was at only to find that they had pulled the XXXX back out resulting in a negative balance which they began charging overdraft fees for. Support told me that they had placed a hold on the check. It took me a couple of hours and asking for the supervisor before I was finally told why. Because I had not endorsed the check. I asked why they had accepted an unendorsed check in the first place .... never did receive a decent answer. One person told me that the computer couldn't tell whether there was a signature on the back or not .... really? My phone can... another said that it's an actual person making the decision... idk ... either way if I had gone into the bank any teller would not have accepted the check unendorsed. Why should it be any different using mobile deposit? And why now, when I'm here with check in hand ID in hand can we not resolve the situation which should be as simple as me signing the check, right? When I went into the branch the branch manager would not even speak to me in person. First I was told he was out to lunch, then that he was with a client... How that was so when I had been waiting for close to two hours I couldn't tell you. Even the staff made comments like " XXXX ( branch manager ) knows he has someone waiting, right? '' Now this is XXXX on a Friday and I'm already late getting back to work. I could hear their conversation through the door. It was not business. I see the man stand up through the glass and stood myself and then see XXXX have him sit back down... I was furious. It was very clear I was being blown off here. Just keeping me waiting till the clock strikes XXXX. I'm now at a staggering XXXX dollars in overdraft fees and on my mobile app my account doesn't even show me being negative. The hold is set to be released tomorrow on the check and I will be back to the branch then to ask XXXX XXXX a battery of questions after having read the information on this site. It seems to me that Regions saw an opportunity where a " mistake '' on my part and policy on theirs would allow them to take anywhere between a third to a half of my XXXX dollar deposit. The whole thing seems highly suspect and predatory. Remember that this check was one from my employer. I have two years financial history between their account and mine. I was at the branch with the check ( which I was told not to sign ) and my ID, and the only person who could release the hold would not even speak with me. I was told by the assistant manager that they would not be removing any overdraft fees because it was not a banking error. She said it was on me for not signing the check. I say it's on them for accepting it. We'll see. Regardless though, after this is over it's needless to say I will be switching banks.

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 monetary relief