Complaints

This profile includes complaints for Merchants National Bank's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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Merchants National Bank has 19 locations, listed below.

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  Merchants National Bank

  100 N High Street Hillsboro, OH 45133

  
• 

  Merchants National Bank

  117 S Washington Street Greenfield, OH 45123

  
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  Merchants National Bank

  145 W Beech St Hillsboro, OH 45133

  
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  Merchants National Bank

  2829 Rombach Ave Wilmington, OH 45177

  
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  Merchants National Bank

  188 W Main St Logan, OH 43138-1606

  

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:08/10/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Every single month we make lump sum payments towards our mortgage principal balance. We always have issues with them not applying the payment as "principal only", which causes us to pay more daily interest. When we phone the bank to have this solved the employees give us attitude and they are pretty rude towards me. I'm just trying to payoff my loan as fast as I can and I just wish they apply correctly my principal only payment. Today 08/10/2023 I made a $2900 principal only payment and was applied as regular payment.

  Business Response

  Date: 08/18/2023

  This is the first notice that I have seen sent to my e-mail, however I am only working on a part time basis due to surgery.

  I have printed the information and will transfer this to the appropriate person to respond.

   

  Thank you,

   

  Business Response

  Date: 08/25/2023

  Out of 85 principal only payments paid 3 payments were applied as a principal and interest payment versus principal only.  One misapplication of payment happened in February 2021 , another in May 2023 and again in August 2023. All three payments were corrected the next day.  The corrected payment was applied as a principal only payment on the date of the original payment, therefore, no additional interest was charged.
  The issue is being addressed with the appropriate parties involved and additional training is being provided in both areas of payment application and customer service.
  Due to the corrected payment being backdated to the date the payment was paid, the system automatically makes the interest adjustment, therefore, no adjustment is necessary at this time. 

  Linda S****

  VP Head of Credit Administration

  ###-###-####

  Customer Answer

  Date: 08/27/2023

  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,
  
  **** *********