Checking or savings account -- Opening an account -- Complaint #5894937
Complaint Overview
Complaint ID: 5894937
Company: Regions Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Opening an account
Sub-Issue: Didn't receive terms that were advertised
State: Iowa
ZIP Code: 503XX
Date Received: 2022-08-18T12:00:00-05:00
Date Sent to Company: 2022-08-18T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I received a promotional flyer from Regions Financial Corporation in XX/XX/2021 stating I could open a new checking account and receive a {$500.00} bonus if I met the qualifying criteria, including a ) enrolling in online banking and b ) making 10 or more purchases with the account debit card, both within 30 days of account opening. I opened the account and then waited approximately 3 weeks to receive the debit card. From there I made 10 purchases, but the last 3 transactions were held in 'Pending ' status for a number of days, and only processed once the 30 day deadline was past. According to Regions this meant I did not meet the qualifying criteria and the bonus was denied. This feels intentionally unfair and deceptive - by not a ) providing the debit card in a timely fashion and b ) seemingly manipulating the processing date of transactions ( to Regions benefit ) it seems impossible to actually qualify for and receive the promised bonus. I made a complaint to Regions that this practice seemed purposefully unfair and deceptive and have received no response. I also closed my account to avoid receiving further fees associated with the product.
Frequently Asked Questions
What is Complaint #5894937 about?
Complaint #5894937 was filed against Regions Financial Corporation regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2022-08-18T12:00:00-05:00.
How did Regions Financial Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". 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.