Checking or savings account -- Problem caused by your funds being low -- Complaint #9653096
Complaint Overview
Complaint ID: 9653096
Company: Firstbank
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Non-sufficient funds and associated fees
State: Colorado
ZIP Code: 803XX
Date Received: 2024-07-29T12:00:00-05:00
Date Sent to Company: 2024-08-07T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have been an account holder with FirstBank XXXX ( XXXX ) for several years. Today I received an account change letter. I believe this new change is designed to punch down at poor people, with an outrageous charge directed at people who have less than {$500.00} in liquid cash or {$5000.00} in assets. I believe this is a violation of the terms of the account I originally opened about XXXX years ago. I also feel like this is targeted discrimination at poor people ; a {$12.00} punishment to someone who has less than {$500.00} is far more painful than a similar charge to someone with higher income. I will be closing my account regardless, but this demands regulatory overview. -- -- -- -- -- -- - FirstBank is making changes to your XXXX Account. Starting XX/XX/year>2024, you may be subject to a XXXX Account XXXX XXXX. Your accounts affected by this change are : What this means for you : No debit card fee : The {$10.00} FirstBank XXXX XXXX XXXX XXXX has been eliminated. You will no longer pay an annual card fee per cardholder for this account. No XXXX XXXX XXXX Fee if requirements are met : There will be no XXXX XXXX XXXX Fee when you meet XXXX of the below requirements. The XXXX Account XXXX XXXX will be waived if at least XXXX account party is under the age of XXXX, however, the fee will no longer be waived once all account parties reach the age of XXXX. Other ways to waive the XXXX XXXX XXXX Fee include : Receive at least {$500.00} per statement cycle in qualifying direct deposits OR Maintain a minimum daily starting balance of $ XXXX OR Maintain a combined average monthly balance across personal accounts of {$5000.00} A XXXX XXXX XXXX XXXX XXXX Fee if none of the above requirements are met : If you're unable to meet any of the previously mentioned requirements, the account is subject to a XXXX XXXX XXXX XXXX XXXX Fee.
Frequently Asked Questions
What is Complaint #9653096 about?
Complaint #9653096 was filed against Firstbank regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2024-07-29T12:00:00-05:00.
How did Firstbank 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 Firstbank?
Yes, visit the Firstbank company profile at readthecomplaint.com/company/firstbank 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.