If you're looking for a bank, please look elsewhere than Union Planters. We made an accidental mistake which overdrawn our account and we were charged a late fee plus $5.00 per day for every day of the negative balance. Well, we didn't realize we were overdrawn and a WEEK passed before we were notified about our mistake, and by then an additional $57.00 had been added to our negative balance.
Unfortunate for us, we didn't get paid for another couple of weeks and so we immediately called representative to explained our situation but he offered no help. He could only tell us that he would pass along the message to one of his superiors. Days passed and nothing happened and we still continued to receive "Overdraft" letters. The final one stated that if we didn't deposit sufficient funds then our account "may be turned over to a collection and reporting agency" if not paid within fifteen days.
We talked to Union Planters again and were told us that they could settle this debt with them if we paid them half of the debt... $155.00. I think we're going to just go ahead and pay them since it seems since we foolishly accepted their terms; however, we will never use Planters Bank, and will try to discourage anyone else from doing the same.
~ major rip-off! ~
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