Checking or savings account -- Problem caused by your funds being low -- Complaint #4543640
Complaint Overview
Complaint ID: 4543640
Company: Regions Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: Missouri
ZIP Code: 630XX
Date Received: 2021-07-14T12:00:00-05:00
Date Sent to Company: 2021-07-14T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The processing order in which Regions Bank chooses to process transactions causes the members excessive overdraft fees. I was charged six XXXX overdraft fees for one transaction that put my account in the negative. Regions is stating that there were 5 transactions pending when the actual transaction was completed that caused the account to go into the negative. I am not disputing one XXXX fee however I am disputing the five additional NSF fees, as my account did not truly have NSF, as all of the transactions had already cleared my account at the time of the one XXXX XXXX XXXX that caused my account to be overdrawn. Regionsprocessing order of transactions is not timely and there systems do not reflect pending transactions causing excessive overdraft fees. This is a known problem with Regions and I was informed that a new process was being put in place due to customer complaints. My account is over dra wn XXXX in NSF fees when only one trans action was made to cause the account to be with drawn. The total in my account today is negative XXXX. I made a XXXX XXXX XXXX on XX/XX/21 causing the acc ount to be negative XXXX. At the time of the XXXX the other 5 transactions that Regions is claiming caused additional NSF fees, were already clear in my account and paid out of my own balance. And that is reflected in the screenshots. All 5 transaction the bank is claiming were pending on XX/XX/21 already showed posted to my account. Furthermore the amounts of those transactions are not reflecting in the XXXX balance I owe outside of the XXXXs in overdraft fees. Meaning the bank never covered those charges due to my account being non sufficient. I dont not understand how I can be charged 5 nsf fees when the account was not non sufficient. Please help. I can not afford these fees and I do not owe the additional five fees.
Frequently Asked Questions
What is Complaint #4543640 about?
Complaint #4543640 was filed against Regions Financial Corporation regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2021-07-14T12:00:00-05:00.
How did Regions Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Regions Financial Corporation?
Yes, visit the Regions Financial Corporation company profile at readthecomplaint.com/company/regions-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.