ComplaintsforBank OZK

• Initial Complaint

  04/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  4/14/23 I contact my local bank of Ozark branch located at 3*** **** ******** *** North Little Rock, AR 72118 about issues with my account. I noticed fraudlent ATM withdrawls over my/bank allowed daily limit. I was transferred to a female at the branch listed above who was extremely rude and stated that my account was not overdrawn but that was not the issue the issue was unauthorized withdraws and them being over the banks daily limit but the transaction was allowed. I was calling to get a better understanding/clarity. The female stated that I would have to come into the branch so I went to the location as advised but when I arrived (within 10 minutes of the call) I was advised the persons whom I spoke with on the phone ( spoke with 2 people at that particular branch) both were unavaillable. I have tried to make several attempts to get this issue investigated but am finding extremely difficult and time consuming to get assistance.

  Business response

  04/26/2023

  The customer exceeded his $500 daily ATM limit on March 3, 2023. A $400 withdrawal from an ATM was made after the cutoff time on March 2, 2023, and a $200 withdrawal was made on March 3, 2023, resulting in a total of $600 in ATM withdrawals to post to the account on that day. There were no fraudulent or unauthorized withdrawals, and the Bank did not allow more than $500 to be withdrawn in one day. There was no Bank error so a refund will not be provided. 

• Initial Complaint

  02/15/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Problem: Funds held by Bank OZK after verification of payment and legitimacy of payment from Hewlett Packard for ******** ******. Funds and assets frozen both my personal and my wife's joint account. History: Job change from ** contracted employee to ** direct employee. First payment a mailed check deposited via mobile application prior to 1/1/2023. Funds were available on 1/2/2023 and used to pay monthly bills and expenses. Next day, check placed on HOLD and all processing payments for bills and expenses were denied (multiple returned check fees and insufficient fund charges by billing companies). Contacted Bank OZK Rogers via phone requesting assistance. Advised that bank employee who placed HOLD on my check was no longer with bank. Later advised by Bank OZK Rogers issue was fraud alert due to deposit of paper check on mobile application. Unable to access funds and account placed on hold for 10 days. ** tried to send the check, but the payment was already processed by BANK OZK. Visited Bank OZK location in Fayetteville, AR to receive direct assist with issue. Advised Bank OZK manager *** *** of Bentonville placed a HOLD on my bank OZK accounts. They were unable to release HOLD. Called bank and *** *** directly. Spoke with staff of Bank OZK Bentonville about issue and requested to speak with *** *** (unavailable). January 12, 2023 my next payment from ** deposited into my other bank and still unable to resolve issue with my Bank OZK accounts. My wife and I also received notices in the mail on January 12, 2023, that our accounts were on HOLD for 10 days after notice was sent (dated January 4, 2023). Notice advised to contact *** ***. Wife's direct deposit received but now, all our assets are frozen. My wife and I went to bank 1/17/23 and after long wait, our funds were released by Bank OZK Fayetteville and $0 balanced our accounts pending a resolution from *** ***.. My wife and I have not been contacted by Bank Ozk since and want resolution for our remaining open accounts and fees owed.

  Business response

  02/22/2023

  The complainant's mobile deposit was flagged for review as the transaction activity was indicative of potential fraud. The check was dissimilar to items previously presented by the Maker and the endorsement verbiage was consistent with that commonly used in fraud schemes. Additionally, the complainant was previously involved in a similar fraud case, involving an attempt to deposit a fraudulent payroll check.  The account was placed in a restricted status, but the customer was allowed in-person transactions in which all remaining funds were withdrawn from two accounts.  No fees were assessed. The restriction was lifted on January 31, 2023. 

  Business response

  03/03/2023

  The customer's individual and joint (with wife) accounts were restricted to all transactions during the fraud review. This resulted in automated clearing house payments to ********** ***** ********** ***** ********* ***** ***** ****** *** ****** ********** being returned.  The Bank has no evidence that a payment from *** ******** was attempted. The Bank has agreed to refund fees upon receipt of documentation from the customer. 

  Customer response

  03/06/2023

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID 19408202, and find that this resolution is satisfactory to me.

  Bank OZK Northwest Arkansas MGR contacted me personally to resolve all issues. We have agreed to a resolution and I will continue to bank with BANK OZK.

  Please close this complaint.

  
  Sincerely,
  
  ******** ******

• Initial Complaint

  01/26/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I have had the worst customer service and been lied to about things concerning my bank account which is absolutely not ok. I am asking to speak with higher management for the online banking (Zelle) and who handles accounts. Not the regular customer service or even those right about them but a higher up so this can be explained and they can listen to the recordings I have and they should have them also. I have not disrespected or said anything rude to anyone helping me but I’m firm about my position and ask to speak with someone soon or I’ll be going public about the level of disrespect I’ve received and the lies I’ve been told to pacify me.

  Business response

  01/31/2023

  The customer has been assisted with numerous issues on his account and has previously spoken with a manager. The issue with the Zelle account is a result of multiple factors including being placed on hold twice due to attempts to transfer funds that are not hard posted to the account, changing telephone and email address without validation, telephone number not matching Zelle's records, and being placed in a higher risk bracket by Zelle due to adding and then deleting forty-eight (48) contacts within a few months' time. 

  Business response

  02/10/2023

  The customer requested to speak with a supervisor during a call on a Saturday and was advised that he should call back on the following Monday when a supervisor would be present to resolve his issue.  Following this call, a complaint was submitted on his behalf.  An employee working the complaint contacted the customer and resolved the issue, which led to the customer to believing he was speaking to a supervisor.  The staff will receive training to notify a supervisor when this is requested by the customer.  Notes are placed on a customer’s account for bank wide internal communication.   

  Customer response

  02/13/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID 18903084, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  Charlie Wimberly Jr

• Initial Complaint

  01/23/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  The bank has failed to honor a new account promotional bonus that I was offered by a mail advertisement. I received the promotional offer in the mail (attached) and followed all of the conditions. Prior to opening the account, I phoned the branch who verified they were a participating banking center. The bank agrees I followed all the conditions but claims I had to open the account in-person and not online (I opened the account online). In the promotion, there is nothing that specifically states that I needed to open the account in-person.

  Business response

  01/31/2023

  The promotional brochure states that the account must be opened at a participating banking center to qualify for the offer. The customer opened the accounts through the website, which is not a participating branch. 

• Initial Complaint

  12/12/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Bank OZK closed my six business accounts with balance of at least $39,667 combined and assigned a case number of ********** on 12/15/21. I have not received any communication from the bank. They didn't even provide me a chance to contest my customer's dispute which were around 4. I have served thousand of customers and it is a small fraction and they have held large amount to date. Furthermore, no BBB complaints or no attorney general complaints have been filed by my customers to date so this should support my business ethics. Also, when the first account had a dispute I deposited a cash amount of $5,449 back into *** ******* Inc though I had $3,571 balance and I could have only deposited the difference so this should further support my ethics. I wish that Bank OZK had given me a chance to work with my customers but they even didn't want to share their names and withdrew my balances under the above case number on 12/15/21.

  Business response

  12/22/2022

  Funds were distributed to the complainant.  Due to the confidential nature of the complaint and review of account activity, the Bank is unable to provide a comment on this case.

• Initial Complaint

  11/28/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I had been a ozk account user for several years however I moved to missouri and since there was not a ozk branch in that state. I closed my account and switched banks. I called and confirmed that ozk had closed my account, however months later I found out that the account was still open and was 109 dollars in the negative. This was regardless of the fact that I did not agree to having overdraft on my account. I never put any over draft on any of my accounts for this exact reason. However upon confronting the ozk bank teller with this discovery they told me they could not help me since the charge came through before they account was fully closed. They said since it had been in a state of closing that it was then able to ignore that i had not signed up for overdraft. So to summarize and ozk rep misled me by telling me my account was closed when it was not and then another rep told me it did not matter that I specifically had told the bank not to allow overdrafts on my account. This is now affecting my credit as it shows as a overdue charge. This was with the North 725, US-62, Harrison, AR 72601 location.

  Business response

  12/21/2022

  The Bank investigated the complaint and found the account was not closed promptly in response to the customer’s request.  The account is not being reported to the credit reporting agency.

• Initial Complaint

  09/27/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Bank OZK forced me to pay $10 monthly for an account for a year to get a free checking account. After I was no longer obligated to pay the fee, I used the account for a few months and the bank closed my account, sent me no notice, provided no reason, and refuse to talk to me since. This is wrong. I would like to reopen my account at the free tier, because I already paid for it.

  Business response

  10/06/2022

  The Truth in Savings Disclosure provided at account opening disclosed the $10.00 per month service charge and that the account would automatically be changed to a free checking account within 30 days of the 1-year anniversary date. The account was automatically closed due to maintaining a zero ($0) balance for a 45 calendar day period as disclosed in the Terms and Conditions Addendum that was provided at account opening.  

• Initial Complaint

  09/23/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Hi, this is an official grievance for BANK OZK operating in OZARK, AR. They've recently given invalid and also unverifiable info on my credit report to the credit agencies. They've refused to complete an actual investigation, and furthermore, what's really crazy is their team has yet to provide any validation of the discrepancies in which they're reporting. The specific info in dispute is: BANK OZK Account # ****************. Regardless of how often I make an effort to correct the erroneous entries on my credit file, this business consistently ignores my dispute letters which cause me a great deal of needless personal as well as emotional trauma. I'd like such inaccurate info eliminated from my credit document without delay. All of this has brought about some severe damage, not solely to my credit, but at the same time to my good name. Please help. Thanks.

  Business response

  09/28/2022

  The Bank has responded to each of the fifteen disputes the customer has filed since November 2021, and our investigation of the loan payment history has confirmed the accuracy of the information that has been reported to the credit agencies. 

• Initial Complaint

  10/21/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I've been doing business with this bank for over 10 years and my misunderstanding with them is what a "PENDING" transaction is. To mean pending means its waiting for approval. Although my funds has been well over exhausted from everything that has been going on, I try to catch up on money needed. Well I've had several overdraft fees, I will deposit funds in the account while the charges are pending, not actually posted. I don't understand how they post the payments, I'll see that a payment is posted and then when I check again it is not in the order that it showed a few days prior, so then it seems as if when you see the charge again it after several other charges now here is your NSF fee. I've been charged well over 200$ in NSF fees. So I'm thinking that if I'm depositing funds for pending charges then when they actually post to they account and the money is available why are there FEES. How cam you ***** fee when you really haven't paid the bill yet.

  Business response

  11/04/2021

  Business Response /* (1000, 5, 2021/10/29) */ The Bank reviewed your account and the Terms and Conditions Addendum disclosure given at account opening. The disclosure, which is available for review at ozk.com, provides information about Understanding and Avoiding Overdraft and Nonsufficient Fund Fees, including a section that details the order in which items are posted. Transactions are shown as pending until they are presented to the Bank for payment and are posted to the deposit account. Overdraft fees are assessed when there is not enough money in your account at the end of the day to pay for a transaction, but the Bank pays (or covers) the transaction anyway.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩