Date Received: 2019-03-01
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: On Thursday, XX/XX/XXXX I entered 5th/3rd Bank, at XXXX XXXX XXXX, XXXX Florida, with the purpose of depositing {$1000.00} in cash ( ten {$100.00} bills ). I walked up to the teller ( I believe her name is XXXX ). I handed the teller the {$1000.00} along with a slip that I believed was a deposit slip, and I told her that I wanted to deposit the cash amount of {$1000.00}. The teller informed me that the slip I handed her was a withdrawal slip and she would fill out the appropriate slip for me, which she did and I signed the slip. The teller did not give me a deposit receipt. We chatted a bit ; I told her that my wife and I were leaving for XXXX the next day and I wanted to deposit the money because I did not want to carry that much cash while travelling, after which I left the bank. The day after we got to XXXX, I went to the 5th/3rd bank at XXXX XXXX XXXX, XXXX XXXX, IL, near my home in XXXX. When I arrived at the bank I proceeded to the teller window and asked to withdraw the {$1000.00}. At that point I was told that there was no record of a deposit for {$1000.00} made at the XXXX branch on XX/XX/XXXX. I immediately called the XXXX branch, when I got home, and was told several conflicting stories about what happened to the cash, from the teller and other employees. This ensued for over a period of nine weeks and several frustrating phone calls. The employees have basically told me that I am crazy, I was never in the bank, and that I never made the deposit. I asked to view the security camera footage which will prove that I was in the bank and my request has been constantly denied. The bank manager, XXXX, told me that the security footage will not be clear and will not prove that I was in the bank. I find this hard to believe that the footage will not be clear as banks have cameras to record all activity. My wife and I returned to XXXX, FL on XX/XX/XXXX and after visiting the bank again, the result is that I am still out the {$1000.00} that I deposited on XX/XX/XXXX. Again, I asked to view the security camera footage which will prove that I was in the bank and my request was denied again. We were left with no choice, so we filed a police report, we also filed for a subpoena for the security tapes and, to date, we have not had any resolution to this matter. I went to another branch, located on XXXX XXXX, in XXXX, FL to see if I could speak to someone else regarding this issue ; as I did not receive any resolution at the XXXX XXXX XXXX. branch. At the XXXX XXXX branch, I met with Mr. XXXX XXXX and he expressed concern and wanted to assist us in resolving this issue. Mr. XXXX told me to contact the District Manager, XXXX XXXX. I contact Ms. XXXX and Ms. XXXX contact me back, vial letter, and stated that she reviewed the security tapes and that I was not in the bank. Help me understand, how does Ms. XXXX know what I look like? Ms. XXXX and I have never met. This situation has caused a lot of anguish for my wife and me. We are retirees and that money is our social security payment. We have been banking with 5th/3rd Bank since it opened and this is the first time anything like this has happened. It is my sincere hope that the {$1000.00} will be returned to me.
Company Response:
State: IL
Zip: 60016
Submitted Via: Web
Date Sent: 2019-03-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-03-01
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I bought my home in XXXX of XXXX utilizing Fifth Third Bank as my lender with a conventional loan. The home appraised for {$260000.00} and I purchased it for {$240000.00} but still had to have PMI because I put less than 20 % down. I have invested approximately {$75000.00} in the property since buying it and property values have steadily rose over the last three years. My PMI disclosure signed at closing by all parties is very clear about the PMI removal process. The PMI will automatically drop on XX/XX/XXXX. To remove it earlier than that date I will need to pay the loan down or, after 24 months and a good payment record, I can request the PMI to be removed on " the date the principal balance actually reaches 80 % of the original value of the property ''. The bank agrees the only way of showing/verifying the value is by requesting a new appraisal. The banks policy is you request the appraisal through them and pay for it but the bank arranges the actual appraisal company who handles it. The letter however, states getting a new appraisal is not a guarantee that the PMI will be dropped and now states the value is at 75 %. On XX/XX/XXXX I phoned Fifth Third Bank to question two issues I had with the letter : 1. I wanted clarification on why, if i have shown through the appraisal and upgrades that the value was in my home, would the PMI not automatically drop per Federal Law? 2. Why are they saying my value of the property now needs to be 75 % when our contract clearly states 80 %. I was advised that if I order a new appraisal then the value will be at 75 % if the new value of the home is used. I was advised that XXXX XXXX is an investor on my loan and they set the rules covering PMI even though its not a FHA loan. They went on to say that if my loan was sold and XXXX XXXX became and investor after closing that they could still implement rules. I challenged them on this and was met with confusing answers and could not site where they were getting their information from. I advised them we signed a contract and no matter how many times my loan was sold or what investors came on at what point, no one could change the terms of the loan and in my loan papers it is very clear what is needed to remove the PMI. I asked them if they even had my contract in front of them at which time they advised they did not. SO, I asked them if they are not looking at my contract and viewing the PMI disclosure page how can they even be intelligently talking to me about the rules governing my loan. I was placed on hold, they obtained my contract and at this point the person I was speaking to advised she was not sure why the letter I received said 75 %. During this time I also pointed out that apparently XXXX XXXX was an investor on my loan from its inception and if the investor dictates the terms of PMI, wouldn't it stand to reason that this WAS their terms. She believed at this point it was a mistake and put an order for the specific department to contact me within three days. On XX/XX/XXXX I received a call from Fifth Third Bank from the PMI specialist department. This person literally tried to tell me the same information as I just listed above. I asked if they had my papers in front of them, which they did not. I asked them to direct me to the legal authority they siting that dictated the information he was providing me and he literally said " we don't have those papers here ''. He advised me that when the homeowner asked for a new appraisal the value needed automatically goes to 75 % of the new home value. I stated by that logic, if I DID NOT ask for a new appraisal and requested the PMI to be dropped based on upgrades I completed in the home, I asked how would the bank determine my value was at 80 %. He did not have an answer and agreed the only way would be to obtain a new appraisal. So I clarified the only way to obtain a usable new home value number is through an appraisal but he is telling me that when I ask for a new appraisal my value then goes from 80 % to 75 %. After going over this a few more times I asked to speak to a manager and was advised none were available. I was told he did not know when one would be available. I obtained his name and operator number and reminded him that the call was being recorded ( by them ) and then he gave me the name of the manager and put me through to his voicemail. I left a detailed message. Later the same day ( XX/XX/XXXX ) I received a call from XXXX who advised she was the manager. XXXX proceeded to literally tell me the same exact information as above. She did not have my contract in front of her nor the papers or documents or authority that she was utilizing to advised the information she was telling me. XXXX, literally told me when my loan is sold and if there is an investor the terms covering my PMI can be changed. I advised her the letters I receive stating my loan was sold state the exact opposite of what she just told me. I stated those letter simply advise you who owns the loan and that Fifth Third Bank would still be servicing them and that the TERMS HAVE NOT AND CAN NOT BE CHANGED. All of this lead back to me advising XXXX the contract we signed ( Bank and myself ) is binding and can not be changed by anyone and that my contract states 80 % with no exceptions for ordering a new appraisal. At this point XXXX stated I signed a disclosure or waiver in my contract stating it could change. I advised him I did not sign anything remotely like that and have read my contract thoroughly multiple times. I further stated i did not believe it would be legal to have a document like that in closing papers unless it specifically addressed the terms of my PMI and I assured him I never would have signed a document like that and would have found another lender. I advised him I am sure because I made an informed decision about obtaining the PMI because I was either going to put approximately XXXX into upgrading the home or put it as part of my down payment to eliminate the PMI and lower my monthly mortgage cost. I thoroughly went over the rules governing PMI with my Fifth Third Bank loan officer and had a full understanding of how long it would take and what criteria would need to be met to remove the PMI. At this point XXXX asked me to be placed on hold so he could locate the disclosure he was referring to. I was on hold for approximately 15 minutes and he came back on the line and stated he was having a hard time locating it and asked if he could call me back. XXXX, never called back. I know its lengthy but I had to really break down the experience I am having with my attempts to remove my PMI. I have spared you the last year of craziness from when i initially started this process. The first letter I ever received was a denial to get a new appraisal because I have not reached 24 months on the loan yet but that letter stated when i did it would be at 80 %. The next request was made at the 25 month mark and it was then i was told i had to wait 5 years and it was 75 %. Long and extensive conversations with managers over that time went much like the ones described above with no one explaining where they are getting their information from and why they are not following our contract. Lastly, I have spoken to my loan officer ( who works for Fifth Third Bank ) and the attorney who closed on my loan ( who represented Fifth Third Bank ) and they have both stated that Fifth Third Bank is wrong and there is no other document in my loan papers that addresses what XXXX was stating. P.S. the difference between 75 % and 80 % is approximately {$20000.00} FL
Company Response:
State: GA
Zip: 30101
Submitted Via: Web
Date Sent: 2019-03-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-26
Issue: Problems at the end of the loan or lease
Subissue: Problem with paying off the loan
Consumer Complaint: Name of Bank : First Charter ( initially ) then Fifth Third Bank bought out XXXX XXXX XXXX XXXXt : XXXX XXXX XXXX and XXXX XXXX XXXX Account # XXXX Amount Financed : {$150000.00} APR : XXXX % ( {$61000.00} ) No. of pmts : XXXX ( originally XXXX XXXX XXXX XXXX with Fifth Third ( I was given no explanation for this added pmts. ) Total of pmts : XXXX Date of Loan : XX/XX/XXXX thru XX/XX/XXXX This loan was supposed to be paid off in XX/XX/XXXX. I was originally suppose to make XXXX pmts @ {$1100.00} and to be notified about the amount of the last payment. This should have been in XX/XX/XXXX. I continued to make monthly payments because I was not paying attention and did not pull the original loan papers. Fifth Third sent me a letter on XX/XX/XXXX. They notified me that I would owe a balloon payment of {$41000.00} due to the increase in the prime rate. I was never told about a balloon payment and Fifth Third never notified me of such. As of XX/XX/XXXX I have made XXXX payments even thou I was only supposed to have to pay XXXX. I have met with the bank manager but was not satisfied with the outcome. According to Fifth Third I will have to pay the balloon payment in XX/XX/XXXX. The tax value of the motorhome is only {$7800.00}. I feel that XXXX XXXX nor Fifth Third have informed me of a balloon payment, I would have never agreed to such a thing. There is a waiver in the note giving the bank the option to do the right thing, but they haven't shown the ability to do the right thing.
Company Response:
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-03-12
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-25
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: I have an account with fifth third bank, where students aren't supposed to have a monthly account fee, but I brought them proof I'm a student and they still charged me the fee, I called them up about it and they said they can't help me. Also when I opened the account I was offered {$250.00} for leaving {$500.00} in there for 60 days, but now that they charged me a fee my balance went under {$500.00} so I can no longer get the bonus ( because of a mistake they made ).
Company Response:
State: NC
Zip: 28211
Submitted Via: Web
Date Sent: 2019-02-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-25
Issue: Trouble during payment process
Subissue:
Consumer Complaint: RE : XXXX XXXX # XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, FL-XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX + XXXX, tax parcel # XXXX Dear Sir or Madam, I have purchased a lot at the above address in XXXX. I had planned to build a house and move there with my wife upon our retirement. However, XXXX XXXX refused to advance payments against the mortgage for the construction. XXXX bought this loan from XXXX, out of bankcruptcy. We had originally taken out a construction to permanent loan with the now defunct XXXX. The loan was saddled with very high fees and closing costs. Also, the interest rate was initially high at 7 %, despite my, at that time, very high credit rating. XXXX issued payments to the mortgage broker ( commissions ), the real estate agent who sold us the lot as well as an initial draw to the original contractor that was supposed to build the house. Those draws were issued against my loan with nothing in return to me, resulting in a much higher balance than if I had just bought the lot. The contractor never did any construction but pocketed the money advanced to him by XXXX. After XXXX went bankrupt in XXXX, XXXX Bank purchased the loan for XXXX cents on the dollar. Even though this was a construction to permanent loan, XXXX XXXX refused to pay for the construction of the house. At that point, I had already paid out several XXXX dollars out of pocket to the contractor for site preparation. So I got stuck with the sunk cost of not only XXXX of dollars in unnecessary loan costs, but also the sunk cost of the site preparation. Even though XXXX Bank reduced the interest on the loan, they have collected more in interest on this loan than what they had originally paid for the entire loan. Over the past 10 years, I had asked XXXX XXXX three times to reduce the outstanding principal or to take the property back ( deed in lieu ), but they had always refused. I am XXXX XXXX old and my wife and I only receive Social Security income and a few XXXX dollars in rental income per month. Our out of pocket medical expenses are mounting and in order to continue making payments on the above-mentioned loan, we will soon be forced to sell our home. Sincerely, XXXX XXXX
Company Response:
State: CA
Zip: 949XX
Submitted Via: Web
Date Sent: 2019-02-25
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-22
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We previously filed a complaint on this site requesting that Fifth Third Bank accept the short sale offer we had on our home. This was back in XX/XX/XXXX! Instead we have been caught in retention option XXXX. I have written emails to XXXX XXXX ( COO ) ; XXXX XXXX ( COB & CEO ) ; XXXX XXXX ( CFO ) and XXXX XXXX. The ONLY response I EVER received was from clerks who had no authority or power to make a REAL decision on our request. I was told this week by yet another clerk that my hardship application was discarded because the bank wants us to accept their retention proposal. We are NOT in the position to continue to pay this mortgage. Over this 10 year history we tried 8 times to refinance this mortgage. If they would have offered a serious retention option even 5 years ago we wouldnt be in this situation.
Company Response:
State: IL
Zip: 60068
Submitted Via: Web
Date Sent: 2019-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX of XXXX I purchased a property which has a mortgage that was sold to Fifth Third Bank. At that time, I purchased a homeowners insurance policy from XXXX XXXX for this property. On or around XX/XX/XXXX I switched insurance providers to XXXX. During this week in XXXX I contacted Fifth Third to ask what was required of me in order to change insurance providers. I was instructed to list Fifth Third on the policy and given a mortgagee clause / address. I forwarded this information to XXXX. I have attached a Proof of Insurance document from XXXX showing Fifth Third Bank listed under the mortgage clause. On XX/XX/XXXX I received a letter from XXXX stating they have tried contacting Fifth Third Bank multiple times regarding payment of the homeowners policy via the escrow account set up through my mortgage account. The letter from XXXX is requesting payment in the amount of {$2400.00} and indicates that if this is not resolved within 20 days then I will be billed personally for the homeowners insurance policy. This letter from XXXX is attached to this correspondence. Additionally, according to my most recent mortgage statement from Fifth Third dated XX/XX/XXXX, there is currently {$3400.00} in escrow. This should be more than enough to cover the homeowners insurance premium. This most recent mortgage statement has also been attached. On XX/XX/XXXX at XXXX XXXX I called Fifth Third Bank using the contact information provided on my statements. The first representative I spoke with informed me that the policy on record was XXXX XXXX. I stated that my insurance had changed to XXXX. The representative then directed me to their insurance department line ( XXXX ) to correct my information where I then spoke to a second representative. The second Fifth Third representative then told me that my listed insurance provider was already listed as XXXX. She then confirmed that Fifth Third Bank had in fact already received the bill and quoted me the exact amount ( {$2400.00} ) listed for the premium. Then she told me that the payment of the policy was caught up in processing and that Fifth Third would be contacting XXXX directly to figure out how to pay them. I waited 48 hours as a courtesy, and then contacted XXXX around XXXX XXXX the night of XX/XX/XXXX. I was told by XXXX that they had still not received payment, and that no one from Fifth Third had contacted them. I was also told that they have been sending invoices for payment since XXXX of XXXX. Afterwards, I asked for advice on how to proceed and was instructed to call XXXX the following week to set up a conference call between myself, XXXX, and Fifth Third Bank to get the matter straightened out. I contacted XXXX around XXXX XXXX the morning of XX/XX/XXXX. At this point, XXXX, a representative for XXXX, and I called the number ( XXXX ) for the insurance line at Fifth Third Bank. We sat on hold for over an hour with no answer before hanging up. XXXX then tried to call the main Fifth Third phone line. After sitting on hold for another long period someone finally answered and then directed him to the same number we had already tried for the insurance department. XXXX then took my number and told me he would continue trying, and that he would call me once he got someone on the line. XXXX updated me repeatedly throughout the day and was never able to get anyone from the insurance department to pick up the phone. Due to the time sensitivity of this matter, and the continued inaction on Fifth Thirds part, I have decided to file a complaint against Fifth Third Bank in hopes of expediting payment to XXXX and avoiding personal charges for insurance that I have already paid for through my escrow account.
Company Response:
State: LA
Zip: 70769
Submitted Via: Web
Date Sent: 2019-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-20
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: On XX/XX/19 deposited paycheck in the amount of {$2600.00} into checking account. This is the same deposit that is made twice monthly. Same amount, same account. There have been no issues for the past year with deposited paychecks. Bank now refuses to make funds available until XX/XX/19, which has compromised our jobs, due to childcare not getting paid, compromised our mortgage payment, and now we can not pay our electric which is due by XX/XX/19, before being shut off. We have attempted to contact the bank and were told by both our local location and the customer service line, that they were going to hold our paycheck for 10 days due to our account being negative before. Our account has {$.00} in it with no outstanding balances or purchases. This holding of our paycheck is in no way useful to the bank, other than keeping us from paying our bills and as a form of punishment.This is through Fifth Thirds Bank.
Company Response:
State: FL
Zip: 33914
Submitted Via: Web
Date Sent: 2019-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-15
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I deposited a check for {$1700.00} on Wednesday XX/XX/19 through the Fifth Third App. When I checked my account on Friday the funds were not available for me to use. When I called my Fifth Third Branch XXXX he advised that the check is placed on hold until XX/XX/19. He tried to escalate the issue and release the hold but he said it will not allow him to due to " reoccurring overages ''. Anytime I have over drafted I paid a fee of {$37.00} so I do not understand how they can punish me by charging me the overdraft fee, and then hold my funds without any communicated notice. I just do not understand how they are allowed to hold this transaction for nearly two weeks?! Any assistance with this would be appreciated.
Company Response:
State: MI
Zip: 48081
Submitted Via: Web
Date Sent: 2019-02-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-02-14
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: Fifth Third Bank is reporting incorrect information on my credit report to XXXX and XXXX, resulting in a negative impact on my credit scores. They are reporting an account as 30 days past due when I do not owe anything on this account and there is no past due balance. This is coded as if I am currently late when, in fact, I am not.
Company Response:
State: CO
Zip: 80204
Submitted Via: Web
Date Sent: 2019-02-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A