Complaint Review: Fifth Third Bank - Cincinnati Ohio

Hey, I would love to know of any "non-shady" bank out there who would be cool with you moving and not giving them your new address. Then, once they track you down, eating the fees on it. Better yet, I want to sign up for their no-payments for 2 months plan. I mean is that honestly something you think any financial institution, bank or credit union in the country is going to be ok with? They are lending institutions and for-profit organizations. You went to them for help and agreed to timely payments. Don't be surprised when they expect you to live up to your end of the bargain. Wouldnt you be pissed if your employer was 2 months late with your paycheck? Is it different? Cause you don't work for free? Banks and lenders dont operate for free, either. That's important to remember.

I would dispute the statement from the 5/3 employee - while what was stated would be how 5/3 employees 'should' conduct business, the reality is somewhere else. Employees are not aware of their legal obligations in handling many account issues - only the requirements the bank management tell them to employ. This is well established and documented. The employees have very little empowerment to help on all but the most mundane issues, even middle management must defer to higher authorities for many out of the ordinary matters. They have recently been exposed as being grossly uninformed of simple legal requirements for reporting of account information to the credit reporting bureaus - I would strongly recommend the poster to closely track all 3 major credit reports for next 12 months to ensure that 5/3 are not being 'economical with the truth' in their reporting. In this case direct legal action was the only method of enforcing the Federal Credit Reporting Act on Fifth Third. At the end of the day, yes, the consumer has a contractual obligation to keep up with payments and inform the bank of any change of circumstances - HOWEVER, the bank also has a contractual and legal obligation to service the account competently and appropriately. The sooner the incompetent individuals that run these organizations realize that, the sooner we can see some truly loyalty earning companies receive the rewards they genuinely deserve....instead of this underhand 'justify our actions to ourselves and accountable to no one' abominable attitude.

Pay your bills on time and things like this wouldn't happen. Looks like you "forgot" to inform the bank that you moved. It is in your signed contractual agreement that the consumer is responsible for any changes to the account. As far as policy and repossession, when you talk to a representative of 5/3 Bank, they are very educated in how to handle each situation, and give the information from the account. We are here to inform you and give you the knowledge you need to fix YOUR account issues. It is not the bank's fault that you were 2 months behind on your payment. It was a courtesy for the bank to wait that long to repossess your vehicle. Technically, the bank is able to repossess your vehicle after one day of delinquency. Again, pay your bills on time and this sort of thing would not happen.