Consumer complaint received 2025-10-30 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: FIFTH THIRD FINANCIAL CORPORATION
State: MN

Complaint narrative:
On XX/XX/year> my loan balance with 53 Bank was {$7500.00}. 

On XX/XX/year> I submitted an online payment from my checking account for {$7500.00}. 

On XX/XX/year> I logged into my 53 Bank account to check the status of my payment. My payment did not show up in my transaction history nor did it show up as a pending payment. Thinking I had made an error, I submitted another payment for {$7500.00}. 

On XX/XX/year> both payments of {$7500.00} were debited from my checking account ( {$15000.00} total ). My loan balance with 53 Bank showed as {$0.00} even though I had paid double the outstanding balance. I contacted both 53 Bank about this issue immediately. 53 Bank assured me that the duplicate payment would be returned to me in full once my account had fully closed.

After my 53 Bank account was closed, I was able to see an overpayment refund of {$1.00} appear in my online 53 Bank account on XX/XX/XXXX. I never received this {$1.00} overpayment refund and there was never any record of an overpayment refund for the duplicate {$7500.00} payment. 

On XX/XX/year> after making no progress with 53 Bank regarding my overpayment refund, I contacted my personal bank to see if they could reconcile with XXXX Bank directly. 

On XX/XX/year> a payment reversal of {$7500.00} was credited to my personal bank account. At this point my loan balance with 53 Bank was {$0.00} and my account should have remained closed. 

On XX/XX/year> a payment reversal of {$7500.00} appeared on my 53 Bank account and my loan balance went back to {$7500.00}. 53 Bank had reversed my legitimate payment, but the duplicate payment amount had not been reversed nor applied to my loan balance. At this point, XXXX Bank still has my duplicate {$7500.00} payment and is showing that I still owe {$7500.00} plus interest. 

On XX/XX/year> I was able to submit a ticket with 53 Bank to have this duplicate payment issue resolved. The ticket number was XXXX. I was told that the duplicate payment should be applied to my account balance within XXXX business days which would have been between XX/XX/year> and XX/XX/year>. 

After XX/XX/year> I continued to call 53 Bank regarding this issue since my account still showed an outstanding balance and my ticket had not been resolved. 

On XX/XX/year> I called 53 Bank again and this time was told that the duplicate payment would be posted retroactively within 5 business days to clear my loan balance and any interest that had accrued since the payment was made. The confirmation number I was given was XXXX. 

On XX/XX/year> I called 53 Bank again as my duplicate payment had still not posted yet. The representative told me that my duplicate payment was still " under investigation '' and that the loan support team only has visibility into the status of the investigation which was still at " pending ''. They told me that the investigation was being taken care of by their " back office team '' and that they have no way of communicating with this team. I asked for a phone number to call this " back office team '' and was told that they do not have a phone number to call. I was instructed to wait until the investigation was completed which they again told me " can take up to 5 business days ''. The representative told me their was nothing further they could do at this point and that my payment was still considered " missing ''. The initial payment I made was on XX/XX/year> and on XX/XX/year> I was told that the payment was still " missing '' in their system. Both payments for {$7500.00} show up for me in my online 53 Bank account under my transaction history. A third transaction appears on XX/XX/XXXX in this transaction history section even though I never made a third payment. 
At this point, after 87 days, I have not received an overpayment refund from 53 Bank, my overpayment of {$7500.00} has not been posted to my account, and nobody at 53 Bank is able to provide the contact information for who is overseeing their investigation into my duplicate payment.

Company response to consumer: Closed with explanation