- Report: #189268
Complaint Review: First Citizens Bank - Columbia South Carolina
-
Author Confirmed
Why?
First Citizens Bank
1225 Lady Street Columbia, 29202-0029 South Carolina, U.S.A.
Phone:
888-612-4444
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
First Citizens Bank ripoff Columbia South Carolina
I am a small business owner and have been banking with First Citizens for six years. Constantly I noticed that my balance was signifigantly lower that it shold have been.
Recently, I got signed for online banking and noticed they have been charging insufficient fund charges when the account balance was in the positive and I cannot get a clear explanation as to why this has occurred. These fees are extremely high and seem to have no merit. Example this months fees were $914.00. I discovered that over the period I have banked with First Citizens,my total fees have exceeded $50,000.00! To me this is a clear case of Bank Fraud.
In addition, another business owner is correct when he stated that they hold credit card transactions for several days (seeming to attempt to place your account in the negative. Please be aware that they are now holding check deposits written to your business for 2 days before crediting your account (Example a deposit made on Monday of $3000.00, $1500.00 being checks, you only get credited for $1500.00.)
Please do not bank with First Citizens Bank as a business owner, because the more funds they seem to have access to the more that take.
D. Cheated
Cheated, South Carolina
U.S.A.
Recently, I got signed for online banking and noticed they have been charging insufficient fund charges when the account balance was in the positive and I cannot get a clear explanation as to why this has occurred. These fees are extremely high and seem to have no merit. Example this months fees were $914.00. I discovered that over the period I have banked with First Citizens,my total fees have exceeded $50,000.00! To me this is a clear case of Bank Fraud.
In addition, another business owner is correct when he stated that they hold credit card transactions for several days (seeming to attempt to place your account in the negative. Please be aware that they are now holding check deposits written to your business for 2 days before crediting your account (Example a deposit made on Monday of $3000.00, $1500.00 being checks, you only get credited for $1500.00.)
Please do not bank with First Citizens Bank as a business owner, because the more funds they seem to have access to the more that take.
D. Cheated
Cheated, South Carolina
U.S.A.
1 Updates & Rebuttals
Richard
Jacksonville,Florida,
U.S.A.
Uncollected Funds
#2UPDATE Employee
Fri, December 22, 2006
What you seem to be describing here is not Insufficient Funds--it's "Uncollected Funds." Because of the staggering amounts of fraudulent checks, many banks have been forced to institue an Uncollected Funds policy. Basically, that means that just because you deposit a check on Monday, although it may show in your balance, the funds are not yet collected from the bank that it was written on. Incidentally, if you have an interest bearing account, you have never been able to earn interest on funds until they have been collected from the other bank. Basically, this protects the bank from suffering losses from fake checks--a multi-billion dollar curse on the banking industry.
