I have been banking with bb&t for less than three years. I have a boat loan, a checking account and a checking reserve line of credit. From the boat loan perspective, they have been ok with the exception of combining the loan into the activities necessary for free checking (as promised). From a checking and checking reserve perspective, they are very costly far beyond bofa that i fired for weird charges. When i switched to bb&t. I just got hit for a transaction that overran the account balance and needed the reserve account funds to process. Money was transferred into the account before the system needed it, but, a "miscellaneous debit" of $39. 09 ht the account for a transfer of $300. 00. On top of this, they charge $35. 00 per month to have the reserve available for the account. This was the last straw for me as not only have i not figured out how and when to expect these weird charges, i paid over $700 to have an account with them in 2012. If you are considering them for a checking account, don't as they have proven to me that they are not trying to be in this business. From a loan perspective, they are ok.
I opened my first business account in 1994. Now with several businesses and multiple personal accounts, there is a mid 6 figure average daily balance and only a small portion is interest bearing earning 1/10th of 1 percent! I first got hit with an overdraft fee when a large check hit the same day i made a significant deposit to a wash account that is not meant to keep a balance. That is when i learned that bbt posts debits before credits. Now, they did refund my overdraft fee, but as a former commercial banker, this practice is punitive for folks who don't have the resources i have. Further, this policy is so unusual that no other bank in 20 i called out of curiosity, do it. At the very least it should not be in the fine print, but acknowledged with great explanation separately when a customer opens an account! However, i did not move my accounts until now. I am self employed, so i don't have direct deposit. I have no debt and don't need a $6000 loan. I don't have and don't need a mortgage. And my overall relationship of deposits won't count for anything with my "wash" accounts i have for a few accounts that don't have $1500 average balance. So, i'm moving my accounts to a small community bank where relationship means something! My advice to others with a tight cash flow, don't wait to move your account. If you do, the overdrafts will tarnish your ability to open an account at another bank. Then you will be stuck at bbt! Customer service used to be a 5, not in recent years however.
Our accountant advised use that BB&T has great customer service and recommended we consider changing from BOA. He has always steered us right, up until now. We opened a new business account in June and have had many customer service issues since that time. Each time I call I'm told I need to go to the branch where we opened the account, why have a call center? Unfortunately, they are no longer open on Saturday's and it's difficult to go to the branch without taking time off work. The latest issue started when I put in the wrong password and got myself locked out, my problem I know.
However, when I called I was told they didn't have a Resolution & Agreement on file even though they did have our signature cards. It was explained without that, they couldn't unlock my account and again, I needed to go to the branch. I explained today is Veterans Day, teh branch is closed. I have a copy of this form, could I fax it in order to get access to this account, was again told I needed to go to the branch.
I've had this account since June and they just now discovered they were missing something the branch was supposed to send when the account was opened. The responses from the call taker and her supervisor were unresponsive, clearly they have a paper they read off of, "go to the branch." I've told my husband the TD Bank commercials were referring to BB&T, complete lack of customer service.
I will be changing back to BOA, they may be large, however they have always responded immediately to my concerns without having to take time off to go to the branch.