re: PSA - Regions Bank

quote:

---

I have 30k brag.

---

Had.

I kid, I kid. Glad he got his money back, sucks he had to go through this.

To the OP, if you really want to push them to change, try filing a complaint with the FDIC.

Most accounts have rules now that if you have to check the balances every 90 days.

If you suspect fraudulent activity, you better report it ASAP.

If you don't notice it, and you report it late, they can tell to eff off.

Da#1 Stunna is true OT Baller status 30K in his checking account

Big banks never seem to care. Local community banks are the best kept secret in banking. If you’re in Louisiana, Red River Bank is the best.

Regions is awful I would never recommend banking with them. I’ve heard horror stories

I had a similar situation but I my card was cloned and I bought 3500 in diesel in Miami at Walmart Sam’s 3 days later I got my dollars back

quote:

---

That’s unreal. I worry about this stuff as I get older and closer to retirement. What if my 401K gets hacked? Scary to think about.

---

You’d likely be fine. Keeping a significant amount of cash in a checking account is one of the most irresponsible things someone can do with their money outside of active mismanagement. Literally every other option will have better security and fraud protection.

Regions Bank was one of the first banks to charge a fee for "on us" check cashing. An employer would issue a paycheck drawn on Regions and the employee would get charged for cashing the check at the bank. This was a "wrongful dishonor" under negotiable instruments law. But, the feds had many state laws preempted by federal law so the banks were off and running.

I've had some employers tell the bank that holds the payroll account that they will close all of their accounts if they charge employees to cash their payroll checks.

Two months ago, a fairly large wire of fees was inadvertently sent to Navy Federal Credit Union. I don't have an account there. The wire listed my firm name as recipient but had an unknown account number (and I have no accounts at NFCU. The wire should have been rejected. It took a month to get "the wire back" but they failed to return all of it ($49k short).

Two more months have gone by and there is no explanation of the withheld funds. It is crazy. Emails to in house counsel are ignored. The assistant U.S. attorney called them, and got no answer. They simply don't care.

I stopped working with banks that suck. Even when Regions isn't doing stupid things....they are kind of expensive to do business with. Check your fee schedules next time you get a chance if you have accounts with Regions. Get a comp from pretty much any other bank and see what you are dealing with.

In south Louisiana, I could probably recommend at least a half dozen regional and national banks with branches all over the region that are better with service and more aggressive lending depending on the market including:

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)

The one that bought out Iberia is called First Horizon. They are based out of Memphis. Even they are better to deal with than Regions.

UMB's VP is out of LSU, and they are expanding into the area. I think their first regional branch will be in New Roads and Zachary. They are competent for ag and land loans. I'm sure they are better than Regions for retail banking too.

BBVA was bought out by PNC, so they'll probably be moving into Louisiana soon too. My guess is that they buy a regional bank like Business First or Hancock to get the charter and a bunch of branches.