PUBLIC ALERT!!
Normally when I do business with a company and something negative happens I do not instantly go and give them a bad review because everyone has an off day. However, I am putting 5/3 Bank on blast for what I experienced this past two weeks.
I received a check from a family member and deposited it in the bank. 5/3 without due diligence automatically flagged it as fraudulent, blocked me from accessing my account and was told that my account will be closed within 30 days. I found this out after trying to access my account the following day. After spending 15 hours on the phone between the bank manager Harvey and the fraud department, they finally determined after finally doing there job that the check was not in fact fraudulent but that they were still keeping my account locked until said funds cleared. I learned that they had the funds from the issuing bank for days but that they were going to keep a hold on my bank account and all funds until the pre-determined block was expired.
1st, they had no right to hold my account hostage and second, no right to continue to hold my account hostage after they knew they had the funds. Today, I wake up after said hold was expired and tried to use my debit card and it would not work. After calling the bank, I was told they had closed out my debit card for not using it for six months! Really!?! I had just received a new card not even a month prior because the last had expired. I was told that the bank could do nothing about it because it came from the back office and that a new card would be issued expeditiously. However, expedited means 5-10 business days! Unbelievable!
I was with a credit union for 20+ years but due to moving away for a few years I had to change to a bank for easy access. I never had any issues with the credit union. If you value your money and not wanting it to be held hostage, please NEVER DO BUSINESS with 5/3 Bank. Needless to say I have already opened an account with a credit union. read more