Complaint / Review
Fifth Third Bank
Formerly known as First Charter Bank Failure to process direct deposits in order to rack up overdraft fees

My company has a business acount with Fifth Third Bank. We previously banked with First Charter bank, that was then purchased by Fifth Third Bank. As a floor covering store, we process $200,000. To $300,00.in credit card transactions per year. Our direct deposits from VISA, MC and AMEX were in our business banking account within 48 hours when we were with First Charter. Fifth Third appears to be using these deposits for days prior to crediting our account.
As a result, we are incurring massive od fees as we expect our money to be deposited and pay the vendors accordingly. We had no idea Fifth Third would intentionally withhold our direct deposits for their own gain, and to our financial detriment.