Regions is by far the worst and most predacious banking corporation in existence.
I am a 60-year old direct deposit account holder for Social Security benefits, my sole source of income.
Without notice or my consent, Regions altered the structural limits on the account by increasing the limit on the checkcard attached to the account to $500 over any cash balance in the account.
Without knowing this, I made several nominal ($20 and under) transactions that went over my balance, and because I expected the card to be declined in any instances I am over my cash blance, I lost sight of the fact that I was overdrawn.
The amount I overdrew was $169 for which I was penalized $560 in OD fees.
Regions says it did ths as a courtesy. Who asked them to re-structure the legal relationship between us? Isn't this unlawful?l
I hate these smarmy under-handed practices. I was a customer of AmSouth; I did not choose Regions. Now, I will have no money to pay my bills this month because the fees will subsume all of my direct deposit.
C. Haliburton-Bryant
11/29/2008