I have been with Fifth Third (5/3) bank for 4.5
years and have a very negative experience since
day 1. (I wrote this review while I was on hold,
trying to reach customer service)
1. They make expensive mistakes ($1,200)- We got out mortgage from 5/3 bank when we bought out house. In our negotiation, the sellers were to cover $5,000 of closing costs. Just before loan closure, I got a call from the senior mortgage officer telling me that he wasn't sure that the $5,000 would be enough and he thought I should agree to increase my interest rate to cover the difference. If that was done, the difference would be less than $5,000 dollars. He assured me that I would be given the difference (I specifically asked.) However, the remaining $1,200 dollars was refunded to the sellers.
2. Don't complete work in a timely manner- We signed a contract for our house ~2 months before closing. We had been pre-approved and all documents were submitted in a timely manner. 5/3 bank demonstrated very poor service in completing the documents on their end. They were barely able to get the paperwork complete to wire the money for closing on our close date.
3. Unable to add spouse- 5/3 bank would not give my wife access to account. Multiple phone calls were made to add her to the account and I was assured that she would be added. Eventually I was told that I would have to go to the branch to fill out the appropriate paperwork. I went in on two occasions and filled out the paperwork, but they still wouldn't give her any information- not even a balance over the phone.
4. Unexpected fees- We tried to use our account as little as possible because of the fees and hassles of working with them. Despite rarely using checks, they would still periodically send us books of checks that we never asked for and bill us for them.
5. Difficulty getting through- We recently sold our house. We were so excited to finally close our account with 5/3 bank. As soon as they deposited our money we transferred it to an institution we trust. Weeks later they still haven't closed the account and they just charged us the monthly fee for the checking account that we don't use, that put us into overdraft. *This they actually just reversed over the phone when I asked to speak with a supervisor. I was on hold for ~20 minutes before the call was answered by customer service. She wanted to transfer me and told me to expect to be on hold for 11 more minutes. I wasn't too happy about that.
I conclusion, we are so happy to finally have this account closed. We have had a very negative experience with 5/3 bank. I cannot recommend that anyone go to them for a mortgage or for an account.… read more
Reviewed by: @erik_ostler