When my parents moved to Nashville in 1947, they opened an account at First American National Bank, the predecessor of Regions, so our family has banked there for 71 years. In fact, I worked for them for a few years back in the 1970s. About ten years ago my late wife's accounts were messed up a few times (I forget the details) so we moved all but one account over to Truxton Trust. We kept one checking account that I use to pay various people who work for me from time to time.
I like the drive-in folks a lot - friendly and fast - and that's where I always go. I would give the place four stars except for a their inability to set up an account for a grandson. He wanted to have an account that would allow him to save money for a car and yet protect him from his self-admitted spendthrift ways! He and I went in and set up a joint account requiring both of our signatures to withdraw funds. I was assured that this wouldn't be linked to his deposit account.
Guess what? It was and Grandson, desperate for funds one night, tried to withdraw a few dollars and found that he could. Soon, the $1000 saved for a car was gone and he continues to use the bus and shanks' pony to get around. I can see this loophole leading to bankruptcy, divorce, lawsuits, and more.
A couple of years ago I got a several hundred dollar invoice from an insurance company for a policy on my house referring to a loan secured by the house. It turned out that 20 years ago we had put an addition on our house and gotten a line of credit to make contractor payments easier. As soon as the project was finished, we paid the loan in full and I thought no more about it. It turns out it had sat there as an open line of credit for years and someone decided the bank had no insurance protection. Rather than tell me, they just insured it and sent me the bill!
TMI, as they say, but those are shortcomings through the years that keep me from a full-blown good recommendation. read more
