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Message
re: PSA - Regions Bank
Posted on 12/16/24 at 1:41 pm to Da #1 Stunna
Posted on 12/16/24 at 1:41 pm to Da #1 Stunna
Exactly why I transfer funds from savings to checking as needed.
0
Posted on 12/16/24 at 1:43 pm to Da #1 Stunna
quote:
The withdrawal took place in 2 amounts.
$16k and change and the second on was $13k and change.
How were they made? ACH? Cash? Debit card? You can't just withdraw $16,000 easily. For one, there's forms that have to be filled out.
If it happened once and you were notified why wasn't the account locked?
Posted on 12/16/24 at 1:52 pm to K Baw
quote:
You had 30K in an account with a debit card attached to it?
Well he's not da #2 Stunna, bruh.
Posted on 12/16/24 at 2:00 pm to Da #1 Stunna
Yeah frick them. I opened a Lifegreen account with them about 18 months ago to get a bonus. They were putting 15-day holds on my account for check deposits as little as like $400. I couldn't close that damn account fast enough when my bonus was validated after 6 months or so. Regions somehow turned a simple checking account into a non-liquid account with their bullshite.
Posted on 12/16/24 at 2:19 pm to Da #1 Stunna
I keep 2-3k in checking. The rest goes in savings so it is not tied to a card.
Posted on 12/16/24 at 2:41 pm to Da #1 Stunna
I'm about to be headed to regions here in a minute to open up a new account because some guy somehow got ahold of one of my companies checks and tried to cash a $49,50 check.
Odd thing is they called me when the guy was trying to cash it and I told them no it wasn't one of my employees. Only to later see $4950 taken out of my account. It was refunded the next day. But that put a hold on my business account.
I don't really like Regions, but this is the first time in 7 years we've had any fraud and they caught it, so I can't be too upset. Although it's going to take me forever to get all these automatic withdrawals switched over to new account number.
Odd thing is they called me when the guy was trying to cash it and I told them no it wasn't one of my employees. Only to later see $4950 taken out of my account. It was refunded the next day. But that put a hold on my business account.
I don't really like Regions, but this is the first time in 7 years we've had any fraud and they caught it, so I can't be too upset. Although it's going to take me forever to get all these automatic withdrawals switched over to new account number.
This post was edited on 12/16/24 at 2:43 pm
Posted on 12/16/24 at 2:51 pm to deeprig9
quote:
OP is lucky to have recovered the money. The law does not require the bank to do that for debit accounts.
Yeah. Seems like OP was more of the problem than Regions was.
Posted on 12/16/24 at 3:09 pm to Evolved Simian
Federal law
The Electronic Fund Transfer Act (EFTA) limits liability for unauthorized debit card purchases to $50 if the cardholder reports the fraud within two business days. If the cardholder reports the fraud after two business days but before receiving their account statement, they could be liable for up to $500. If the cardholder doesn't report the fraud within 60 days of receiving their statement, they could be liable for the full amount of any unauthorized transactions
Card networks like Visa and Mastercard have zero liability policies that protect cardholders from fraudulent charges. To be eligible for this protection, cardholders must take reasonable care of their card and notify their bank or card company immediately if they suspect fraud
now, I guess the question is, if the "card" was not used to access the account, how was it accessed? that's more worrisome to me.
The Electronic Fund Transfer Act (EFTA) limits liability for unauthorized debit card purchases to $50 if the cardholder reports the fraud within two business days. If the cardholder reports the fraud after two business days but before receiving their account statement, they could be liable for up to $500. If the cardholder doesn't report the fraud within 60 days of receiving their statement, they could be liable for the full amount of any unauthorized transactions
Card networks like Visa and Mastercard have zero liability policies that protect cardholders from fraudulent charges. To be eligible for this protection, cardholders must take reasonable care of their card and notify their bank or card company immediately if they suspect fraud
now, I guess the question is, if the "card" was not used to access the account, how was it accessed? that's more worrisome to me.
Posted on 12/16/24 at 4:04 pm to Da #1 Stunna
IIRC Regions also holds a ton of office loans and are sitting on a lot of unrecognized treasury bond losses.
Posted on 12/16/24 at 4:53 pm to Da #1 Stunna
We've had issues with Regions in the past and switched everything away from them almost 10 years ago.
Guess they still suck.
Wonder who will pick up all their office space after they fold.
Guess they still suck.
Wonder who will pick up all their office space after they fold.
Posted on 12/16/24 at 4:53 pm to Da #1 Stunna
quote:
They don't allow anyone to speak with the Fraud Dept including the branch managers at their locations. It is all done by the ticket system.
quote:
These people were clueless the entire time. No help whatsoever. No communication with the home office to tell my story or for them to ask me questions about the voracity of the claim. Nothing.
I had a similar experience with Chase. Someone opened an account in my wife’s name (allegedly using a fake passport), somehow transferred like $5k into it from our joint account, and withdrew the $5k as cash all at one branch in another state.
Luckily Chase did not dispute that it was fraud, and they refunded the money fairly quickly. They gave us new account numbers & new cards. But they had zero interest in sharing any information.
What documentation did the criminal use to open the new account, other than a fake passport? They can’t say. Did they have her SSN? Can’t say. License #? Can’t say. Did they have our joint account # to transfer the funds? Can’t say. We just wanted to know what specific information was compromised. They were not willing to share anything. I asked if we would be able to get any insight into what happened once they finished their investigation and was flat out told “no.”
Very frustrating, to say the least.
Posted on 12/16/24 at 4:56 pm to goofball
quote:
Business First (Baton Rouge HQ)
Red River Bank (Alexandria HQ)
Gulf Coast (New Orleans HQ)
Guaranty (New Roads HQ)
Cottonport (Cottonport HQ)
Capitol One (Baton Rouge regional HQ)
Hancock (Mississippi)
I have friends that work at like 3 of these. We always appreciate businesses that are either based locally or hire local workers.
I think all of them are a better option than Regions if you are in the Baton Rouge metro area. Some of them don't have branch locations in New Orleans or Lafayette though.
Posted on 12/16/24 at 4:59 pm to lostinbr
quote:
Luckily Chase did not dispute that it was fraud, and they refunded the money fairly quickly. They gave us new account numbers & new cards. But they had zero interest in sharing any information.
What documentation did the criminal use to open the new account, other than a fake passport? They can’t say. Did they have her SSN? Can’t say. License #? Can’t say. Did they have our joint account # to transfer the funds? Can’t say. We just wanted to know what specific information was compromised. They were not willing to share anything. I asked if we would be able to get any insight into what happened once they finished their investigation and was flat out told “no.”
That's sketchy AF.
I'm gonna continue to bank local until they sell out. Then I'll find another local bank.
Posted on 12/16/24 at 5:43 pm to frequent flyer
Definitely find a community bank that you can get to know the employees or know someone who works there. The big banks don’t provide much customer service if any is needed
Posted on 12/16/24 at 5:50 pm to Da #1 Stunna
Why keep so much cash in a debit card type account? I keep roughly one months expenses in checking. Everything else is in a brokerage account or IRA's, etc. Once a month or so I'll shift cash from brokerage to checking to pay bills. My monthly expenses are usually around 5K/mo. So I pay the bills and then move money over for the next month.
Posted on 12/16/24 at 5:51 pm to Da #1 Stunna
Sounds like possibly an inside job.
PSA: New Orleans area has a problem with bank fraud (shocking I know).
And usually the banks do not press charges.
**DON'T SEND CHECKS VIA MAIL THEY STEAL THEM AND WRITE
IT TO THEMSELVES.
PSA: New Orleans area has a problem with bank fraud (shocking I know).
And usually the banks do not press charges.
**DON'T SEND CHECKS VIA MAIL THEY STEAL THEM AND WRITE
IT TO THEMSELVES.
Posted on 12/16/24 at 6:01 pm to Da #1 Stunna
JP Morgan Chase doesn’t have these issues. Frick small banks.
Posted on 12/17/24 at 5:31 am to Da #1 Stunna
quote:
The purpose of the post was to inform people to think twice about banking with an incompetent bank, run by idiots with shitty systems in place.
That’s most banks nowadays. Glad you got your money back.
Posted on 12/17/24 at 7:45 am to Da #1 Stunna
quote:
They don't allow anyone to speak with the Fraud Dept including the branch managers at their locations. It is all done by the ticket system
This is the new norm apparently and you can bet your arse it is done by design to deliberately obfuscate and keep people at arms length while they figure out how to handle things behind closed doors. It also delays, deters, and exhausts those looking for answers.
I had this exact experience with Chevrolet and Capital One for separate issues.
It allows the corporate entity to send you denials with very minimal explanation and forces you to only speak to low level customer service representatives (often from foreign call centers) who cannot answer your questions and placate you by saying they understand as they tell you to use the online claims system. You never get to speak with anyone accountable and they never have to actually answer your questions.
This post was edited on 12/17/24 at 7:46 am
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