When a huge bank gobbled up my large regional bank of 20+ years I switched to BBT. It's been very frustrating hoping that they'll meet expectations only to be disappointed. I still have a business account with the mega bank and am really surprised that my experience with BBT has come up short by comparison. The things that really chap my hide (in ascending order):
-They offered free checking and within less than a year, began charging $10/month for that account
-Their nightly reconcile procedure is very difficult to understand.
-Deposits don't post as soon as you'd expect in many cases. They offer what they call a courtesy deposit of up to $100 when a deposit is made but the rest remains in limbo. Let's say your mortgage payment of $1000 is scheduled to be mailed 6/1 and you only have $850 in your account so you run down to the bank and deposit $150. Even though your mortgage servicer won't get the check for another day or two and then another day passes before it actually posts to your account, you'll likely get hit with an overage fee for not having the money in your account when the check was scheduled to be sent even though you've made a deposit.
- Their online experience doesn't seem as robust as other banks. No scanned deposit items are available and the "pending" charges are often incomplete. I.e. Posted Balance minus Pending Items will not total Available Balance. Why have items debited my account but are not visible in either posted or pending transactions?
So... I love the idea of BBT, I love the people that work at BBT, but I don't love what I can only describe as a second tier experience banking at BBT.
I have several accounts with this bank, including vehicle, home mortgage and investment loans, as well as checking and savings accounts. Everyone was extremely professional, courteous, and made me feel that they wanted my business. My previous bank (of 12 years) seemed like they wanted me to jump through hoops to get anything. So I switched to BB&T for everything and I have not been disappointed.
On infrequent occasions, I have written a check that will be for more than the amount that I have held in my account; most recently a check for $25.00. I will agree that this overdraft is my fault; however; BBT's fee response, to me, borders on gouging! If you have an overdraft of only $25.00, you will be charged an "overdraft fee"of $36.00 and a "returned check fee" of another $36.00. So, the $25.00 check along with the fees will cost you $97.00. With this type of fee penalties, no wonder that people have little sympathy for banks. No one likes to be gouged.
And another thought: even if you have exemplary credit, if you are a small business start up, do no expect to get a loan from BBT. Enough said. a word to the wise!