Customers irate with local bank for increasing fees

[Sherman A1]

ST. LOUIS (KMOV) – A News 4 viewer says she is upset after learning her bank is charging her a $10 fee for having less than $1,500 in her checking account.

Tracy Clinton says she had no idea there was a new fee until she went to use her debit card and it was declined. Twenty dollars was deducted from her account because of a new monthly fee that was instated just last month.

A spokesperson for Regions Bank says that previously, it was $8 a month for customers who could not keep at least $1,000 in their checking account. When asked why the increase, the bank released the following statement:

More at

http://www.kmov.com/news/local/Customers-irate-with-local-bank-for-increasing-fees-134289983.html


It seems that Regions Bank may have missed the Bank of America & Netflix customer service debacles of the last few months. One wonders if an investment by the bank in a newspaper subscription for it's management might be a worthwhile use of their funds.

[Quartermass]

1. Okay, I'd be more than pissed off.

I wouldn't be part of a bank that said you had to have more than a thousand dollars or more minimum in our bank account or be penalized.

That sounds like a scam to me.

Some people in this country barley make $1800 a month after taxes. There's bills to pay to which some people wouldn't be able to keep a minimum $1000 in their account. Bills such as $450 dollars to fill a kerosene fuel tank for a monitor heater. Sometimes electrical bills can be $165 a month and food bills $400 a month, depending upon where you shop. This doesn't count rent and other utilities.

It sounds like they're being penalized for using their own money to live on and pay the bills.

Just so the CEOs can pocket the money.

[ellenfl]

4. banks used to have a minimum balance that would trigger a fee.

it's only in the last 10-20 years that they started phasing out those fees. they began making their money the old fashioned way . . . they stole it.

ellen fl

[tabbycat31]

2. local does not always mean good

I worked for a local bank and they had a similar fee when I worked there. You had to maintain a $2500 balance to be considered in good standing with them.

[demosincebirth]

6. Banks are like leopards they can't change their...

[Sherman A1]

8. Agreed

Local does not always mean good, you are absolutely correct. The piece does note that the folks received a mailing on the fee, yet one wonders if this fee increase by the bank(s) was a good idea. Will it not just push more people out of their doors and into Credit Unions? I understand that these may be marginal (profit) customers and the bank may want to be shed of them, however those marginal customers if treated right and their economic situation improves can become loyal profit generating customers.

I guess we will see.

[ellenfl]

3. your 'local bank' is a local branch of a national bank.

regions is an alabama-based bank. a true local bank would probably be a state chartered bank . . . if they even exist anymore. check individual bank websites or your state corporate website. btw, any bank whose corporate name ends in 'n.a.' is a national bank.

ellen fl

[demosincebirth]

5. There are always other banks. Better yet, Credit Unions

[Sherman A1]

11. Agreed

and I would be exploring those options.

[The Genealogist]

7. My stepmother won't use a debit card

She had one once. Regions Bank pulled some shenanigans on her with the debit card. Other Regions Bank shenanigans resulted in her not trusting direct deposit. Both cases were the bank's "errors." So, she gets a paper check from work, and deposits it herself, gets what cash she needs, and for the rest of her bills and purchases, she writes checks.

[Sherman A1]

9. I am no fan of debit cards and will not have one

I watched a young co-worker leave one day in tears as she learned that her husband had been careless with his debit card and losing it, found their bank account being tapped rather enthusiastically. The bank was in no hurry to help or to restore their balance. It took several weeks for things to get straightened out.

[ProdigalJunkMail]

10. regions is hardly what i would call a local bank

we have them here in GA AND they are in MO??? Semi-Regional...maybe. And their customer service sucks...

http://www.customerservicescoreboard.com/Regions+Bank

sP