ComplaintsforFirst Merchants Bank

• Initial Complaint

  08/28/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  i had an account closed due to being dormant. in April, I received an email asking why I closed out an account with. ******************. I had no idea the account was closed so the following day I went to the bank to find out what was going on. I was told the account was closed due to being dormant. That same day that I received the email asking me to complete a survey asking why I closed the account out, I received my bank statement with no indication that the account was being closed out. The bank manager, looked into it and said that she could try to stop the account from going to the ******** unclaimed property unit. She was told that it had already been processed two days prior and they could not stop it from going to the state of ********. Ive contacted the unclaimed property area and they have not received any money from the bank. I have left messages with the manager at the bank without a return phone call. I called their corporate number and was transferred to the original bank that the account was opened. I asked why I never received any notices that the account would be closed out , I was informed by the unclaimed property area through the state of ******** that I should have received letters and phone calls leading up to the closing of the account. I asked for documentation showing that it was sent to me and was never provided that information. To sum up what is happening after many calls to the different banks and their corporate headquarters I was told that they would have to put an investigation to see where the money is. This is been going on for the past four months without any resolution according to the state of Michigan, all accounts that have become dormant must be reported by July 1. I feel that this bank has done some unlawful things, and they have not adhered to to bang and government rules about reporting on dormant accounts.

  Business response

  09/12/2024

  September 12, 2024

  
  **** *****
  ***************
  ************************-1074
  
  Dear **** *****:
  
  We are contacting you in response to the Better Business Bureau (BBB) complaint we received on August 29, 2024. First Merchants Bank strives to be the most responsive, knowledgeable, and high-performing financial organization for consumers and our clients. We have investigated your complaint and respond as follows.
  
  According to our records, First Merchants Bank mailed a letter to the address on file for your account on February 16, 2024 advising that a response was required within 30 days or the funds in the account would be remitted to the State of Michigan. Please see a copy of this letter enclosed. 
  
  While First Merchants Bank did follow internal policies and procedures, our research found that there was an issue with our third-party escheatment vendors which led to the delay in the State of Michigan receiving your funds. We are further investigating this issue with our vendor so that we can ensure it does not reoccur.
  
  Please accept our apologies for the inconvenience this may have caused you. As of September 10, 2024, a check was mailed to you directly for $41,070.14 which should arrive shortly.  
  
  We thank you for bringing this matter to our attention and giving us the opportunity to respond to your complaint. We trust this response has resolved your concern. 

  
  Sincerely,  

  
  **** *****
  Compliance Manager 

• Initial Complaint

  08/19/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I received a check from a client. The client banks with First Merchants bank. First Merchants refuses to cash the check and demands I deposit it in a business account. They refused to open a business account for me because they "believed I would close it once I resolved the item." I have had to search for another bank to negotiate the matter for me.

  Business response

  09/03/2024

  September 3, 2024
  *********************
  ******************;
  ***********, IN 47930
  
  Dear *********************:
  
  We are contacting you in response to the Better Business Bureau (BBB) complaint we received on August 20, 2024. First Merchants Bank strives to be the most responsive, knowledgeable, and high-performing financial organization for consumers and our clients. We have investigated your complaint and respond as follows.
  
  On August 27, 2024, a Market Leader contacted you regarding your complaint and explained to you that we do not cash checks made out to businesses unless you have a business account with ******************************************* to deposit the check into and withdrawal the funds. 
  
  Please be assured that your feedback has been taken seriously, and we are committed to improving our services.
  
  We apologize for the experience you encountered, which does not reflect the high standards of customer service we strive to maintain. Should you have any financial needs in the future, please do not hesitate to contact us. We are here to help you and ensure that your experience with us is positive moving forward. 
  
  We thank you for bringing it to our attention and giving us the opportunity to respond to your complaint. We trust this response has resolved your concern. 
  Sincerely,  
  *******************
  Compliance Manager 

  Customer response

  09/03/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. 
  
  This was not merely a matter of me misunderstanding your policies. Your branch manager was very clear in outlining those policies. Though I was frustrated, I asked your branch manager what I needed to do to create the required business account so that I would be able Satisfy your policy's requirements so I could cash the check. Your branch manager made a phone call and then came back and told me that because HE  believed that I was merely creating the account so that I could clear the single check and HE believed that I would close the account once the check had been paid that he refused to allow me to create the business account. Not based on anything I said, but based on his suspicions and assumptions. I reiterated this to your representative who called me and they responded with platitudes and assurances that they would investigate the matter. I find your response here inadequate and insulting as you are simply trying to publicly paint me as ignorant and not understanding your policy. When the truth of the matter is that I attempted to satisfy your policy and your branch manager refused me. The purpose of me making this public complaint was to let your customers and potential customers know that when they write checks that there is no assurance that you will honor them. Instead of putting those concerns to rest you  Making insinuations that it simply a user error on my part.

   
  Regards,
  
  *********************

  
  

  Business response

  09/11/2024

  September 11, 2024
  *********************
  ******************;
  ***********, IN 47930
  
  Dear *********************:
  
  We are contacting you in response to the Better Business Bureau (BBB) complaint we received on September 06, 2024. First Merchants Bank strives to be the most responsive, knowledgeable, and high-performing financial organization for consumers and our clients.
  
  Please accept our apologies if our previous response did not appropriately address your concerns. We would like you to know that your feedback was taken seriously and not attributed as an error on your part. 
  
  This matter was assigned to our Market Leader, who reached out to you by phone on August 27, 2024 to personally apologize and attend to your concerns. As our Market Leader indicated during the conversation, we deeply regret that your experience did not align with the high standards we strive to maintain. While we are unable to share specific details, please be assured that our Market Leader has investigated and addressed this matter in accordance with our internal procedures. We are committed to ensuring positive client experiences and your feedback will be used towards that end. 
  
  We thank you for bringing this matter to our attention and giving us the opportunity to respond to your complaint. Should you have financial needs in the future, please do not hesitate to contact us. We would welcome any additional opportunity to provide you with the attentive and outstanding service that you rightfully expect.  
  
  We trust this response has resolved your concern. 

  
  Sincerely,  

  
  *******************
  Compliance Manager 

  Customer response

  09/12/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. 
  
  the problems and expense that were created for me because of this business' refusal to honor their own clients checks left me in a position where I will never do business with them again and I will alter my own business practices to refuse payments made with First Merchants checks. I had to begin a new relationship with a 3rd party, at expense to myself, to solve the problem myself. I do not wish to have First Merchants to receive any credit for "solving" my problem when I had to go to solve it myself. 
  
  Regards,
  
  *********************
  

• Initial Complaint

  07/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  about 7 months ago i opened a cd at 1st merchants on *********** in ********, in. 1st i opened a cd with about **********. then i decided to open a savings the same time to be able to transfer funds when it came due in 11 months. i asked if any charges to open savings with just ******. i was told no they would be wavied. i was aslo asked for an email. i told the lady that i didnt want to setup anything else at this time with email. i had so many accounts i just didnt want any more and if i had to do that i would go some where else. i was told i didnt have to. so i opened both accounts.3 months later my statement came for 3 months and they charged me 5.00 per month. i called there office and a lady told me that i shouldnt be charged that fee for another reason, i was 63 years old and she would take care of it.3 months go by and my last statement came and shows 5.00 charge for each month again. on 7/ 17 i called and talked to ***** at ********. she says i will charged 5.00 every month unless i open an online account for the savings and that was per her manager.1. i dont want an online acount. 2. i want all my 5.00 charges back for each month, even if i have to close the account numbered *******. i prefer to have savings with no fees. please help with this complaint.

  Business response

  07/26/2024

  
  We have researched your concern with the Marker Leader who contacted you on or about July 24, 2024.   It was determined that there was a miscommunication on the balance requirements to avoid fees. As a courtesy, we refunded three fees to you while you brought your account to the required minimum balance to avoid any future fees. 
  
  We apologize for the frustration you may have experienced.We thank you for bringing it to our attention and giving us the opportunity to respond to your complaint. We trust this response has resolved your concern. 

  Customer response

  07/26/2024

  Better Business Bureau:

  I have reviewed the response made by the business in reference to complaint ID ********, and find that this response/resolution is satisfactory to me. 
  The manger that called me was very nice and knew her business. As for some working under her, well. Today there are a lot of people doing a job that are either not trained 100 % or they just dont think of all the tools or alternatives to offer a customer but I will be continue doing business with the bank at least for now. 
  

  Sincerely ,

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

• Initial Complaint

  07/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I had a HELOC through ************** and First Merchant took over before I closed on my home and paid it off. I do not live near a First ************* and I never heard from them again, but apparently they never even closed my HELOC even though they didn't have my updated contact information, which is illegal in ********. Then, one day my credit drops by 50 points because my HELOC that has been paid off is in default over a $50 annual bank fee. My credit just dropped another 97 points today. The bank refuses to connect me with a manager. I have no way to pay this bill, no online account, they won't help me at the branch, and nobody will get in assist me. They asked me to email their Market Leader, which I have, but there has been no response outside of an automatic email and an email asking for my phone number.I demand the account to be closed, fees to be waived, and the credit reporting to be rescinded.If I have to take this to small claims court, I will be seeking $250/hour for the time I have spend dealing with this, which so far has been 4 hours now.

  Business response

  07/16/2024

  In reviewing this loan and its activity, the client paid enough to satisfy the loan at that time.  We are in the process of waiving the outstanding fees and will submit necessary documentation to correct the clients credit bureau issues.   This may take up to three months for all three bureaus to reflect the change.  We apologize for any inconvenience this has caused you.  Thank you for allowing us to address your concerns.  

  Customer response

  07/16/2024

  Better Business Bureau:

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

  I do request verification that the fee has been waived, the account has been closed, and the credit reporting has been corrected - But I do accept the response so long as the statements are followed through with in a timely manner and evidence provided that my account has been closed so they do not charge another annual fee next year and the same issue happens.

  
  
  

  Regards,

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

• Initial Complaint

  06/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I can Not log in to check my balance for over a month now. I have left feedback three times, last time was a few days ago , with my email. I dont have time to keep stoppping at my local branch to get log in help, done that twice. I need to be able to check my balance. And their response is , who cares. They can look my account up by my name & address. When I close my account,they dont need to ask for feedback then I also dont appreciate third or advertised mailings, a monthly bank statement is All I need to receive.

  Business response

  07/01/2024

  Thank you for notifying us of the issues you are having with your account.  I have assigned this complaint to the Market Leader for your account, ***********************.  She will be in contact with you to ensure that your account issues are remedied to your satisfaction.  We apologize for any inconvenience this situation has caused you.  Thank you.  

  Customer response

  07/18/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. 
  
  [Provide details of why you are not satisfied with this resolution.]

  Quit closing my complaint prematurely. I cant access my own account. I want to know who and when my landlord g in was changed from small letters to capital letters, because it sure as **** wasnt not ME .

  
  
  Regards,
  
  ***************************

  
  

  Business response

  08/01/2024

  Thank you for notifying us of the issue you are having with your account. Our Market leader has attempted to contact you several times to assist with your concerns and has been unsuccessful. Customer satisfaction is at the core of our bank; however, without being able to reach you, we are unable to resolve your issue at this time.
  If you are still in need of assistance, please contact our ************* team at **************. If your matter has been resolved to your satisfaction, then no action is needed on your end.
  
  

  Customer response

  08/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. 
  
  [Provide details of why you are not satisfied with this resolution.] The number came from ********* came up as Potential Spam and then I seen **** I think his name is left a message.

   

  Once again, I want to know when and who changed my log in from lower case to Capital letters , and never got an answer. It wasnt me, because I cant log in

  I want to know why you waited two weeks after you received the complaint to decide to contact me. You would have had better luck contacting me at the time I filed the complaint, but weeks later when I am busy and dont have time to stop and straighten it out

  I Stopped in and  spoke with ********** and she said I didnt have a business or personal account . She is suppose to call someone at the bank and call me back Friday. I told her if I didnt answer to try me back, since I dont always have my phone on me. I also told her she wont see me for another two months because I dont have the time to stop in.

  i had to stop work early to get a part ,and this is my priority right now. Merchants should have made an effort long ago. I will be moving my money after my season since they didnt care to respond in a timely manner.

  
  Regards,
  
  ***************************

  
  

• Initial Complaint

  11/17/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I went to first region bank and opened up a bank account. It was free with direct deposit. They rejected my deposit and never return to charge me $57 which I refuse to pay.

  Business response

  11/24/2023

  Please see attached response and statements. 

  Customer response

  11/27/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below. 
  
  [Provide details of why you are not satisfied with this resolution.]
  
  Regards,
  
  *******************
  

• Initial Complaint

  10/25/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  First Merchants Bank shut my card off over a "suspicious" charge. That charge was a reoccurring charge that happens every 3 months and I've been subscribed to that service for years.

  Business response

  11/01/2023

  Please see attached response. 

  Customer response

  11/01/2023

  Better Business Bureau:

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

  Regards,

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

• Initial Complaint

  10/10/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Illegaly picked up my vehicle with no behind payments

  Business response

  10/23/2023

  Please see attached documents.

• Initial Complaint

  09/29/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Since September 12th, every day I keep receiving paperwork from loss litigation with regard to my mortgage which is paid and current. I call every time I receive paperwork because this is stressful to think that there has been some mistake made and I could possibly lose my home. Every time I call they assure me their records indicate that I am current. I would like the loss litigation mail to stop. I am contacting you because I have not been able to make headway with them about this issue (which should not be so difficult).

  Business response

  10/03/2023

  Please see attached file. 

  Customer response

  10/09/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined the response would not resolve my complaint.  The reason why is the person who responded is minimizing the amount of letters I have received in the mail.  There were 5 letters including one I received in the mail last week!  I didn't even open it, I put return to sender and mailed it back to them.  I do not want any more mail at all from them! 
  Regards,
  
  Indya Peoples
  

• Initial Complaint

  08/16/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Regarding First Merchants Bank. The bank has no ***** for overdrafts, the bank will not allow overdraft protections on a business account. The bank will not stop card transactions made even if the money is not present in the account. Again, the bank has no protections in place at all for business accounts. Any transaction will go through regardless of the account has money in it. Though I try with great effort to ensure deposits and withdrawal are coinciding with each other that at times can vary as it is a business account. The bank has a deposit cut off time of 7pm through an ATM. The bank processes withdrawal after their business day has ended at 4:30 as well as after the deposit cut off time of 7pm. So that means they will process a withdrawal at 10 pm at night and if the account doesn't have the funds available the bank will charge you an overdraft fee even though there is not possiblity of bringing the account current as the deposit cut off has already passed. It is clear that all other institutions would not post things after business hours until the next day and I cannot determine if this goes again better bureau best business practices. I hope there are rules in place that prohibits this type of obvious attempts to rob customers of money. There is a negative ***** ******* I've never seen anything like this. This is the only financial institution through mine and others experience that did anything like this to customers. Please help me figure out if this goes against rules or obligations that govern what they do and how they attempt to gain profit through such deceptive means. Force the business to properly make this information known to their customers prior to opening an account so they can make an informed decision because had I known any of this I would have passed on working with First Merchants Bank.

  Business response

  08/23/2023

  Please see attached response and disclosure.  

*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. ↩