Complaint / review text:
"As always, Fifth Third Bank checks and cash are available to pay items clearing your account the day of the deposit." Although this funds availability statement has a nice ring to it, proceed with caution... Because, it is not true!
On 11/27/2010, I walked into a Fifth Third branch and deposited $1,000.00 CASH. The teller handed me a receipt dated 11/27/2010 that reflected an available account balance of $1,165.96. I spend the day shopping, using my debit card for various transactions. No big deal, because according to Fifth Third's Fund availability statement, the cash was available to pay items clearing the account the day of the deposit, right? WRONG!
On 11/29/2010, I visited the branch near my home, and deposited $820.00 into my checking account, and went about my business for the week.
At the end of the week, I went to Fifth Third to deposit my paycheck. The teller informs me that my account was $670.00 overdrawn!!! How was this possible??? EASY... The cash I deposited on 11/27/2010 didn't post until 11/29/2010!!! Duh, everybody should know that banks routinely hold CASH for it to clear!
I spoke to the bank manager, he refunded $75.00 back to my account. Thanks! I wanted to speak to a Regional Manager, but the Mt Vernon, IN branch refused to provide me with a phone number!
So, as of now, I am still out $595.00 worth of overdraft fees because I spent money before my CASH deposit had a chance to clear.
My advice is to stay FAR away from Fifth Third Bank!!