AmSouth Took Every Penny Our Family Has

Have you ever heard of the term "Right of Offset"??? You have probably signed consent for this if you have an account with any bank. I know you have signed one if you bank with AmSouth.... and if you do, I feel for you. Let me tell you how heartless AmSouth is. In summary, they took my mortgage money, car payment, business rent, electric bill payment, and alarm payments to cover a check that was issued to me by a fraud. And then they billed me for it!

Sixty days ago, a check was issued to my wife by a lottery scam. We checked out the lottery group on the internet and it was real. Still uncertain, we called the bank named on the draft to see if it was a scam and a computer linked to the "800" number confirmed the account as valid. Still uncertain, we called our own bank, AmSouth, who in turn called the bank in question and held a three-way call with live operators on both ends. They verified the account and told us to go ahead and deposit the check. We did it and had $3,750.00; enough to pay our then delinquent American Express bill. We were so happy when the check cleared. We managed to post our payment to Amex before too late and they were paid.

Then the bad news. The check bounced and we were informed that despite our research, the draft was a scam. We were late in responding to the fraud letter so we deemed it to be no loss. AmSouth was upset and asked us to request Amex to refund the money. Is anyone seeing sense in asking a credit card company to refund a payment received from a nearly delinquent customer? No, I did not either. I agreed to be responsible for the debt and to pay AmSouth the entire $3,750.00 amount. After all, I had realized the funds to pay off debt and owed the money in real.

Our story is the same as most families at this point, hard times, children home for the summer, slow business at the store-front, severe loss of income realized with new hires in the shop - we could not make payments like AmSouth wanted. We managed one invoice after a period and, when we were paid for it, asked to split it with AmSouth against the debt. The Branch Manager refused to go splits and demanded the check in full with no cash back. We submitted, though the money was needed badly. When we were ready to invoice again and told the Branch Manager, she smiled greatly as she remembered the large invoices we submitted during last winter. When she heard how small it was we were left to feel like skid-row's unwanted in AmSouth's prestige.

We finally got a brak. We managed enough to pay our mortgage, salon rent, car payments, and electric bills, all delinquent. Little did we know, our local Branch Manger was watching our accounts for just this break? I awakened on Monday morning to find my entire salon bank account gone! Every penny was taken. The bank initiated a transfer to cover the debt of the fraud check without ever a call, warning, or any notice of any type. We were not in any collection, nothing of the sort.

I need not write out the thoughts, anger, and even fear that went through my head. I thought that it was illegal to take collection against someone like this since I was making payment and cooperating with the bank. It is not. I went to the bank in tears and pleaded them to not take the money like this... not even a warning. They did not relent and I was just left to set worried about my personal funds that were to cover my home mortgage, car payments, and utility bills. I discussed the matter with the Branch Manager, explaining the importance that my personal account be left to pay for home and automobile.

I awakened the next morning to find this account cleared out too. Every penny was gone, business, personal, even my electronic transfers. At this point, every penny we had to our name has been claimed by AmSouth under the clause of "Right of Offset" so that the mentioned fraudulent check would be paid off immediately and without further delay.

I told my children what has happened and my daughter explained that she still had $25 of her birthday money left and offered it to help us. When I arrived home with them from school today, she retrieved the money and brought it to me. I could not take that, but I did want to show this level of commitment my family has to holding together in tough times. We collected piggy banks and loose coins from about the home. In single file we walked into the bank with our pennies and other coins. The children walked into the branch manager's office and set the last of our money upon her desk. She never even looked up from her desk to acknowledge us. We left and set about putting our lives back in order. We have mortgage, business rent, utility bills, and automobile payments to make.

What AmSouth has done is totally lawful according to free legal advice I received. I should mention that when I disclosed to our business leaseholder what AmSouth had done to us, and that he was holding a worthless check, he never even blinked an eye. He took his own initiative to call an attorney to his office and offer to me counsel, on the spot, about what I may or may not expect.

I have watched my accounts on the internet banking site, they are all in the negative balances as one check after another is drafted as NSF, after AmSouth helped themselves to the entire balance. It shows a healthy balance, a transfer of funds out of my accounts which I never authorized, and then check after check bouncing, all with NSF fees attached. I don't know if that part of this is lawful or not, but I do know that I am very likely to lose my home, automobiles, and possibly business due to this action.

It is strange that this should pass as just some months ago, we noticed $900 deposited into our account that we knew nothing about. After a couple days left in the account without being taken back, we notified AmSouth and they had to research for nearly a week to even realize that they had made an error. They thanked us and praised us as such outstanding citizens, how honest we were and what trouble we saved them. This was our reputation. Then financial hardships began to settle in and we ended up here.

"You spent AmSouth's money!" exclaimed the branch manager when I discussed these issues with her. No, I spent my own money that was cleared by AmSouth associates for availability. When the check was claimed as fraudulent, we took ownership of the debt and agreed to pay.

Every professional I speak with about this matter exclaims to me how many people they run into on a normal basis that have been treated poorly by AmSouth. I cannot really call people to action in this, like some ravaging Scottish warrior, but I would love for AmSouth to feel something for what they have done. They have no sympathy about this matter and will not, but if people help shout out at the Institution, perhaps AmSouth will slow down in the way they treat people.

Call AmSouth and ask them about "Right to Offset" and what it means. It means that any account with your Social Security Number attached and in their reach is subject to be taken at any time, without collection efforts, without notice, without remorse, to cover a debt that they want paid. If you are a mother signed on your child's account and your child incurs a debt in the bank's authority, they can take your funds. If you are a group of twelve persons signed on one account and one of the twelve is in debt, all twelve can lose their funds.

I have been told that all banks have this clause, but AmSouth is the only one I have even heard of, personally witnessed, that does this without provocation. I am a good community member, productive and honest. I have been good to my bank for three and one half years.

Please help to lawfully make AmSouth feel something for this. Take your accounts out of the institution and put them into another bank. Keep your money safe, away from AmSouth and their new owners, Regions Bank.