ComplaintsforSouthside Bank

• Initial Complaint

  12/11/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  In January of this year my Dad had a accident in his Truck so Shortly after he had health problems to come up so when he got the Insurance check he held on to it due to the health issues for almost 6 months so he took it to his personal Bank Southside and Deposited into his account well when the check was sent for Endorsement from 5th ********** they sent the check to Southside Bank in turn it was Deposited into my Dads Account **** 5th ********** never Endorsed the Back but Southside Deposited it into his account so fast forward ....We put his truck into the repair shop around Middle of Sept of this year We get a rental car paid for thru insurance until Truck done Repairs was about 3 weeks on Oct 3 Repair called said Truck was ready We Go to Southside Bank There is a Hold on the Money they kelp giving me the run around i work my Dad Has Dialysis 3 times a week we can not let the rental go back cause We will be Stranded so I finally Spoke with 5th ********** got someone that would finally listen She tracked down what happened She Told Me Southside should have never cashed that check with no Endorsement on back so Fast forward i spoke to Branch Manger AND Voiced My Conplaints to them them after months of there mess up I do not think they understand what has happen here or dont want too as of Dec 4 out of lots of fustration and waisted hours i had to take off from work as well of $850 to Enterprise rental and storage fees for the Truck sitting could you please help me resove this issue t

  

  Business response

  12/14/2023

  We thank ************************************* reaching out to share the frustrations with the time it took to resolve a check endorsement matter with her father, **************************  It is normal practice for insurance companies to issue a claim reimbursement check to both the insured and any applicable lienholder institution.  This was the case for the check in question a check deposited into Mr. ******* account had only his signature but was made payable to **************** ** AND **************************   A hold was placed on the check due to the lack of endorsement from ****************.  Southside contacted **************** on April 25, 2023, to explain what was needed to handle the matter and he understood and stated he would get us the required documentation.  In June, **************** visited the *********** branch with his daughter where they discussed the situation and even tried to get their insurance company to put a stop pay on the check so that the insurance company could cut them a new check.  **************** moved to an assisted living place and ********************************* was designated as POA as of November 17th.While signing documents at the *********** branch, she mentioned the check again, and told staff she was going to contact ****************.   On November 21, 2023, ********************************* contacted ****************** about releasing the hold.  As a final resolution, **************** agreed for the bank to debit Mr.Bentons account and issue a cashiers check payable to the ***************** in lieu of the original check that held an endorsement liability. Cashiers check ******* was mailed the following day to Foremost County Mutual.   Southsides staff was diligent in communication and assisting with handling the matter.  Unfortunately, Southside is not liable for any additional costs that *** have been incurred by the Bentons. 

  Customer response

  12/19/2023

  I am rejecting this response because:  If Southside had send Cashiers Check from the start all this would have been Resolved They was the breakdown in the whole thing by cashing a check that was NOT Signed on the back  
  

  

  Business response

  12/22/2023

  Again, we understand the frustration this matter caused.  As mentioned in our initial response to *****************, *************** was provided with options in April and again in June on how the endorsement liability could be resolved.  Issuing a cashiers check was a courtesy extended as a final resolution offered to ********************************** order to enhance our processes and service levels, this matter has been reviewed with several of our team members.

• Initial Complaint

  01/11/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I secured a loan from this institution for $20,000 secured by a Certificate of Deposit of $20,000 for a term of 6 months to help my son-in-law with schooling. I could have just given him the funds but wanted him to learn to take responsibility. The lending officer at the Lindale, TX branch processed the loan with professionalism but never mention to me or provide a fee schedule that a $75 administration fee is charged if renewed. The note came due in September 2021 and I renewed the loan for another 6 months at the South Broadway branch. The lending officer never disclosed to me a Administration Fee of $75 would be charged to renew the loan. This is pure greed and DECEPTIVE BUSINESS practice not to verbally disclose or go over the loan document with the borrower. All the years I have borrowed money the bank representative provided verbal disclosure of the loan. This did not happen from either lending officer. I did not find out about this fee until I went to one of their branches and the teller taking the transaction advised me of the current balance in which I questioned the $75 charge. I am utterly taken back that a bank would charge this kind of fee for a loan that is Cash Secured. I would agree if this was a car loan, etc. I guess this is a way to increase the income from the loan by instituting an Admin Fee since it is tied to a low interest time deposit. I have requested the bank teller to have someone of higher authority contact me about this fee but yet to hear back from them. While this fee may be within the legal lending boundaries and does not violate any lending laws, it is PURE GREED

  

  Business response

  01/19/2022

  A Southside representative spoke with Mr. ****** last week in order to address his concerns.  As a courtesy, Southside refunded the $75.00 fee as of January 12, 2022.  Additionally, a formal response letter was mailed to Mr. ****** on January 18, 2022.

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