ComplaintsforCadence Bank

• Initial Complaint

  05/01/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I put thirty thousand dollars in a savings account and they are saying I never Put more than $50 in that account. I came to the bank with a 135000 I. Put 30? 1000 in the savings account because they said that's as much as I could put and earn the interest. Then come to find out my money disappeared. I have Fifty dollars I have paperwork but I'm not sure how to read it and I don't know what to do.

  Business response

  05/11/2023

  We are in receipt of case #******** filed by Fred Carroll regarding the customer's allegations of a missing deposit to his savings account with Cadence Bank.
   
  Our records indicate the customer opened a checking and savings account returning on the same afternoon to make a check deposit to the checking account. The customer made the deposit at the ITM and a new deposit hold was placed. Funds were made available to the customer. Account transaction history indicates there was never a transfer or deposit to the savings account for the amount the customer is alleging. The Bank mailed a response letter to the customer including statement copies for reference to detail all activity on both accounts.
   
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint. 

• Initial Complaint

  04/08/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Tornado hit in the state of Arkansas. I’ve called them multiple times throughout the day about my homeowners insurance . It’s been a week and no response for me to file my claim. No one has reached back out to me. They will not let me get a number to call the insurance myself to file my claim. I have to go through them but they have yet to return my call. This company has also taken 2000 dollars from me as well

  Business response

  04/17/2023

  We are in receipt of the BBB complaint case no. ******** submitted by *** *****. A Mortgage Servicing Supervisor discussed this matter with the customer directly who confirmed she was successful in reaching the claims department on 4.10.23. The Supervisor provided her direct line as well as the direct line to the claims department. A response letter was mailed to the customer on 4.14.23. 

   

  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

• Initial Complaint

  02/23/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On 1/21/2023 I visited the Vicksburg branch to make a deposit of $7,900 the teller took the cash and was out of my view as I was in the drive thru came back an told me I was short $1,000 I had counted the funds twice at home before coming straight to the bank. The teller's name is ******* ******** as long as I had been coming this was my first time seeing him. The second teller ****** ****** was present the 2 called the branch manager ****** ******* to come and help look for the misplaced cash. Ms. ******* was rude from the time she approached the window until I left. I spoke with **** **** the president to ask for assistance to check the cameras even asked if I could view the footage, he denied my request. I have no way of proving that I sent the funds into the drawer without the footage. Since the I have continued to make deposits on Saturdays like I have for almost 2 years and I have not seen either of the individuals since. Which only fuels my thought that the funds were taken from me. I help my son run his small business and while $1,000 may not seem like a lot to some it's huge for him. I would like to have the footage reviewed and the funds deposited into the account.

  Business response

  03/02/2023

  We are in receipt of complaint case ******** submitted by ***** ******* regarding a deposit made on January 1, 2023. A thorough investigation was conducted and we determined upon receipt the assisting teller ran the cash through the cash counter and the machine registered the amount at 6900.00. The customer contested this information prompting the Teller to run the cash a second time confirming the same amount. The Branch Manager was called in and supervised the balancing of the cash drawer which did not result in an overage. In conclusion, the amount presented for deposit on this date was 6900.00.

   

  A response letter was mailed to the customer on 3.1.23. 

   

  We hope this information serves to resolve the complaint case.

• Initial Complaint

  02/09/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I got a mortgage from Cadence bank in 2017. Until about Jun 2022, I had made half the monthly payment nearly every 2 weeks with no issues. In summer of 2022, Cadence Bank acquired BancorpSouth. I had no notification my mortgage was transferred to BancorpSouth. I continued paying manually via the online payment portal, but I started receiving erroneous monthly statements. After receiving each statement (Jun, Jul, and Aug), I called and the collections associates assured me my account was current and the statements were simply wrong. Based upon this, I ignored the incorrect Sep statement and continued paying as usual. By Oct, the issue appeared to be reconciled and both the Oct and Nov statements showed my account as current. My Dec statement again showed the account overdue. When I called on 12/12 and spoke with collections agent, *******, she noticed the November statement had my 11/11 payment incorrectly applied to the principal and not to the payment. She said it needed to be fixed and she was requesting an audit of my account. I continued to make my payments, and I reviewed my previous statements, noticing my 10/3 payment was never applied at all. I called 12/26 (no name), 1/3 (****) to check on the audit. Each time I was told my account is late, the problem lies with the way I am making my payments, the audit had not been done, and the associate would look into it. On 2/7, collections agent, *****, called about my late payment. When I explained the 11/11 and 10/3 errors, she accused me of not telling the bank timely and said updating the payments affects bank tax reporting, but that tax info is false anyway due to the bank errors. For 2 months, BancorpSouth has refused to audit the errors in my account as stated on 12/12. BancorpSouth has taken adverse actions to restrict my ability to pay, labeled my account as delinquent, and appear to be retaliating against me for not setting up automatic payments.

  Business response

  02/21/2023

  We are in receipt of case #******** filed by ******* ****** regarding payment application for her mortgage loan. An audit was performed on the account which found that on 6.24.22 a partial payment was misapplied as principal only as opposed to being applied as a partial payment for the month of July. Payments were reversed and reapplied effectively for the original dates received. The loan is now due for March 19, 2023. 

  
  A response letter was mailed to the customer on February 21, 2023 which explains the resolution presented as well as offers a biweekly payments option.

  
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

  Customer response

  03/01/2023

  Better Business Bureau:

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 

  Regards,

  ******* ******

   

• Initial Complaint

  01/25/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Yes I am 81 years old my social security check went into the cadence Bank in Batesville Mississippi on the 1st of January someone took every penny out of my account said that a debit card was sent to my house that I never got this is a new account I had opened it hadn't even been open 30 days and someone took every penny out of my account it is been 25 days now I have contacted the bank at cadence over 20 times they have been rude no help at all I never was notified about anybody in my account I never was called no text messages no nothing I do not understand any of this all they can do is give me a run around every time that I call that bank that is over $1,600 that is missing out of my bank account with no help at all I need some help getting this figured out at 81 years old I should not be going through this I just want my money and that's it.

  Business response

  01/30/2023

  We are in receipt of case #******** filed by **** ******* regarding fraud on her account and poor customer service.
  
  
  The account was opened 12.9.2022 at which time the customer deposited a check via the mobile app in the amount of 896.11. 1.3.2023 the customer withdrew the funds. On 1.4.2023 the mobile deposit was determined to be fraud and was returned. As a courtesy, the Branch elected to allow the account to remain open until the customer receives her next check on 2.3.2023 and it will be closed. An account closure letter was mailed to the customer on 1.27.2023.
  
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

• Initial Complaint

  01/24/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Cadence Bank is having big issues with Direct Deposit. I get a monthly pension retirement check from Army Nonappropriated Funds. In January 2023, the deposit did not appear in my checking account. I contacted the local Cadence Branch and they told me they had not received the deposit. I then contacted the Army NAF office, and according to NAF, the deposit was sent as normal. The NAF office also sent me the check stub verifying the deposit. The bank is not providing any information. In the mean time I have to pay bills. I believe Cadence Bank is not a reliable financial institution, therefore I would not recommend it to anyone.

  Business response

  02/01/2023

  RE: Better Business Bureau (BBB) Complaint # ********
  Dear Ms. ******, 
  This letter is in response to your complaint filed with Better Business Bureau (BBB) and received by Cadence Bank (“Cadence” or “Bank”) on January 25, 2023, regarding non receipt of your direct deposit from Army Nonappropriated Funds. 
  In review of your claims, it was determined that the originator was sending the funds to an old account number ending in 9106.  Previously, the system would correct and transfer the funds to the new account number, but as of November 2022, these changes are no longer in place.  As a result, a manual correction was made in November.
  On Thursday, January 26, 2023, the credit was placed into account ending in 1011 and a Notification of Change was submitted to the originator.  It is advised that you contact the originator and provide them with the correct account number to avoid further delay.
  We appreciate you bringing your concerns to our attention and apologize for any inconvenience this may have caused you. We value you as a customer and hope you will continue to look to Cadence Bank for your banking needs. 
  With this response, we consider this matter closed.
  
  
  

• Initial Complaint

  01/11/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I recently applied for an SBA loan with Cadence Bank in July 2022 to purchase an insurance agency. It still hasn't closed, but that's not the biggest issue. **** *******, VP, SBA Loan Packager/Closer with Cadence bank has been sharing my information, and information regarding my loan with the lady I am taking out the loan for to purchase her insurance agency.

  Business response

  01/18/2023

  We are in receipt of case #******** filed by ******* ****** regarding the status of the Mr. ******'s loan as well as concerns that private information may have been shared with a third party without the borrower's consent.
  
  
  We are unable to substantiate the borrower's claims that information was shared with a third party without the borrower's consent. Our records indicate that the information shared with the Seller was per the request of the borrower during a phone conversation with the borrower, Packager/Closer, and Seller on which the borrower requested a list to be forwarded to himself and the Seller that includes all outstanding items required to complete the loan process. Based on the email and text exchange, it appears the borrower was aware of the sharing of information. Additional forms are required to be provided by the borrower in order to move forward with closing the loan. A response letter was mailed to the customer on January 18, 2023.
  
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

  Customer response

  01/18/2023

   

   Complaint: ********

  I am rejecting this response because: I never gave anyone authorization to share anything. I provided screenshots to the president of this "bank" showing proof my confidential information was shared. I would like her to provide me the same courtesy and email me the phone conversation she is saying took place, where I gave **** authorization to share loan information, personal information, or any other information. What an unprofessional, and absolute joke of a response that is. 

  Regards,

  ******* ******

  Business response

  01/19/2023

  The Bank is now communicating with the customer directly to further address his concerns and provide resolution regarding the loan closing process.

   

  Thank you.

• Initial Complaint

  12/07/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  They have charged me 2 OD charges in the last two weeks when I am watching my account carefully to avoid spending more than I should. I was in the hole Monday, 11/28 by $120. I deposited brought to cover that, Tuesday, 11/29, I was in the hole by $60. I borrowed the money to cover that. Wednesday, 11/30, I was in the hole again by $40. And I did not make any purchases during this time. Last night, I had about $40 when I went to bed, this morning, I am $120 in the hole again! And nothing new is showing on there. Their banking app is horrible!! Their customer service team is mean and rude. I am the secretary for my job and my church! I handle money every single day! I KNOW HOW TO MANAGE MONEY!

  Business response

  12/22/2022

  We are in receipt of case ******** regarding the customer's dissatisfaction with overdraft fees and allegations of poor customer service.

   

  A thorough investigation was conducted and we were unable to substantiate the customer's claims of rude employee behavior by our customer service department staff. Additionally, we determined the referenced fees were not charged in error. 

  The Bank did elect to provide a one time courtesy refund of an overdraft fee. A response letter was mailed to the customer on December 22, 2022 which included instruction to avoid making transactions against insufficient funds in the future. 

   

  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.
  

• Initial Complaint

  08/12/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Bancorpsouth is apparently experiencing issues with direct deposits. I've been waiting for my payroll direct deposit for one week now. My next one is due on Monday. I have money coming out of my account but nothing being deposited. The company has offered very little information and no estimates as to when the issue will be resolved. The bank should be required to pay a penalty as would I if a payment was missed. I need to buy food, gas, and pay bills.

  Business response

  08/24/2022

  We are in receipt case # ******** filed by **** ***** regarding the processing delay of an electronic deposit experienced the week of August 9, 2022.

  
  The Bank experienced an internal bank error involving electronic transactions during the week of August 9th which resulted in the customer’s electronic deposit not occurring when scheduled. Upon discovering this error, the Bank took action to resolve the issue. The Bank has implemented measures to prevent this error from happening in the future. Therefore, going forward, we anticipate that transactions will process as they normally do.

  The customer’s account was credited the amount of the expected direct deposit on August 12th. The Branch Manager discussed this matter with the customer on August 17th. 

  
  A letter was mailed to the customer acknowledging receipt of this complaint and explaining the results of our review as stated above. We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.
  

  
  

• Initial Complaint

  07/30/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On 6/15/22 an Chexsystem credit history was ran by a Credit Union rep at my job and it was shown to me that on 1/6/20 BancorpSouth reported a charge off of $371.81; Closure Reason(s) : 1. ACCOUNT ABUSE, Category: ACCOUNT ABUSE; and ACCOUNT CLOSED BY: BANCORPSOUTH, CORPORATE ADMINISTRATIVE CODE, 2910 WEST JACKSON ST, TUPELO MS 38801 ON 7/1/22 I talked to a BancorpSouth rep in Aberdeen Ms about the billing dispute, (1st I had talked with an agent in Tupelo who referred me to Aberdeen where the account was opened)she told me there was not anything she could do about the false claims made by that branch.She gave me a copy of 3 checks the bank rejected payment on but charged me overdraft (OD)fees of $36 each and gave me a number to call and file a dispute I called 1-888-789-7711 to file a dispute and was only allowed to speak to customer service,who would only claim the account was old and they didn't have access to the account.I sent them a copy of bank statements showing this same information below. I was told I would get an email from them about the situation but I haven't On 11/20/19 a loan deposit of $1100 was deposited into then account #77632339. 11/26/19 a STOP ITEM was put on the loans by BancorpSouth & debited my account for $36 for a stop payment for six months 11/29/19 BancorpSouth paid 154.17 to the loaner inspite of the $36 they received from me for the 6 months Stop Item. I withdrew my remaining 153.81 (see 7/7 p2 this too was charged as an OD) I was written a check for 154.17 by the bank and gave a directive to close the account. The last direct deposit was 11/27/19 I had my job to send my direct deposits to another bank Inspite of the stopped direct deposits and requested closure of account BancorpSouth on the 12/2/19 $36 OD 12/6/19 NSF CHARGE 12/9/19 ON p. 7/7 shows the accumulation 4 ODs from 1-4 days apart On p.7/0 shows 3 ODs. This is an attempt at forcing me into fraudulent actions if I pay this bill which I dispute that I owe

  Business response

  08/05/2022

  We are in receipt of case #********  filed by ***** ***** regarding a charged off checking account balance reported to Chexsystems.
   
  Unfortunately, due to the amount of time elapsed, Customer Service is no longer capable of viewing or recovering the account and Stop Payment information to accurately determine if the charge off may have been the result of an error that occurred at account closure which caused the additional fees and eventual charge off. Therefore, we elected to submit a request to remove the negative item to TeleCheck and ChexSystems on August 4, 2022. 
  
  
  A response letter was mailed to the customer.
   
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

*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. ↩