Complaints

• Initial Complaint

  10/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On 8/25/2023 my father and I closed on an investment property with an investment loan from Cadence Bank for a property at **********************************************************************. We were expecting to receive a paper mortgage statement in the *********** the mortgage. After it had been over a month, we finally contacted Cadence Bank directly because we had still not received the mortgage statement. It turned out that Cadence Bank had sent the statement to ****************** even though it was clear that it was an investment property. There is no mailbox at ******************. My father has other mortgages with Cadence Bank and has always been diligent about paying them on time. He always receives a paper statement at his home address, not the investment property address. We ended up talking to at least 3 different people with Cadence Bank about this. It was hard to get an answer from them. We should not have to incur a late fee and suffer a drop in credit score because Cadence Bank mailed the statement to ******************************* instead of mailing it to **********************************************************************.

  Business response

  10/26/2023

  We are in receipt of BBB complaint case no. ******** submitted by *************************. A correction to ****************** mailing address was made and the late fee was waived. The bank verified that there will not be any negative credit bureau reporting due to the fact the payment was not thirty days or more late.

  Customer response

  10/26/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

   Complaint: 20756851

  I am rejecting this response because:

  I actually received a statement at the correct address (my home address) today and they were charging a late fee this time for last time. Last time was paid and a check is going in the mail tomorrow for this latest statement (which is not late). 

  Regards,

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

  Business response

  10/30/2023

  Please be advised, the referenced statement dropped on 10-17-2023 before the fee was waived on 10-20-2023. Thank you.

  Customer response

  10/30/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

  Better Business Bureau:

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

  Regards,

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

   

• Initial Complaint

  10/18/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  this is a bill for my new yearly home escrow account in the amount of ******* which pertains to my insurance changes, tax increase and claimed escrow shortages. The problem is NO one at the bank can give me an itemized detailed list as to how the came up with this outrageous amount in full. I have worked the numbers myself and explained to them and my original loan officer even admitted he could NOT help me as it made no sense to him as well. Ive been dealing directly with customer service in ****** and after hours of battling and them unable to give me solid figures and show me where these numbers came from they have told me just to pay it! And they are clearly trying to double charge me for Insurance and tax inflation yet they cannot explain to me why or how. I told them i have no problem paying the shortages if they can show me on paper in writing how they came up with this FULL amount. They have basically stopped talking to me and told me i have to pay it or else. I have explained how wrong this is in everyway possible and surly their is laws out there protecting the customers and legally they should have to be able to provide the customer with a full breakdown and be able to justify on paper where this money is going. And on top of paying this ******* up front they still want to increase my house note ****** a month yet cant really tell my why if im paying for the shortages up front in one lump sum of *******?? All I've asked for is a dollar amount breakdown equaling this full amount of ******* and they cant provide me with this information yet holding me accountable for it.

  Business response

  10/24/2023

  The Mortgage Escrow Supervisor contacted the customer by phone and addressed his concerns.  A follow-up letter was mailed to the customer on October 24, 2023.

• Initial Complaint

  09/28/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I was sent a suspicious check in the mail, claiming to be from a "****** * ********" of Cadence Bank. I have reason to suspect that this person's identity was stolen and is being used to trick people into depositing phony checks. I have tried to contact Cadence Bank, but their customer service line has continually evaded me. I would like to be contacted by them directly with confirmation that this problem is or is being resolved.

  Business response

  09/29/2023

  We are in receipt of the complaint case no. ******** submitted by ****** ******* regarding a suspicious check the complainant received in the mail which appeared to be written from a Cadence Bank customer's account. 

  This matter has been addressed appropriately to ensure the safety and security of our customer's account(s). A letter was emailed to the complainant using the email address provided in the case file on September 29, 2023. 

  Thank you, 

   

  AP

• Initial Complaint

  09/22/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Checked my account on Thursday night, I had PENDING transactions. One of them had me in the negative. Just one. I knew my deposit would hit at midnight and would handle the overdraft I had for the ONE transaction. On Friday morning, everything was fine in my account. Around 11am, I was hit with 3 overdraft fees for the 3 pending transactions from Thursday night (again Thursday only showed ONE putting me in the negative): customer service was a joke when I contacted them. They couldn’t even give the timestamps for the withdrawals. Cadence has been a joke since bancorpsouth and it merged or whatever they did. I was with bancorpsouth for 20 years and never had them pick and choose when to clear transactions to hit people with overdraft fees. I’m currently in the process of moving institutions and so is the rest of my family. I only owe 1 of the $36 overdraft fees, not 3. I have screenshots of my transactions bc 2 of them actually occurred on Wednesday afternoon! But I will not upload my banking info. But it’s available if needed.

  Customer response

  09/26/2023

  This matter has been discussed between me and Cadence bank. ****** at the Customer Center is great by the way. She listened, she acknowledged my issue, she explained what happened with actual useful information. I appreciate ****** taking time to discuss things with me. 
  

  Issue is closed. 

• Initial Complaint

  08/26/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I called Cadence Bank to file a dispute for a charge that occurred on my account. This bank closed my dispute due to that fact that they said the company ******* didn't make any billing errors. I provided documentation to Cadence Bank to show them that I returned the merchandise to the *******. I contacted Cadence Bank to get more information to while my dispute was closed, and Cadence Bank said to me that I need to take that up with *******. I'm not understanding how I provide documentation to Cadence Bank and they still tell me that there is nothing they can do. So in other words Cadence Bank is letting a company keep my money for merchandise that was returned to them. I was not disputing the charge as fraud , I was disputing the charge that ******* has there merchandise and my money.

• Initial Complaint

  07/21/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I paid a $12,000 deposit to Cadence Bank after being approved for a business loan. It was not until after paying my deposit and Cadence signing commitment to award the loan that Cadence bank changed the criteria for awarding the loan. Cadence completely disregarded requirements communicated prior to paying the deposit and then required that I pay for duplicate inspections but only a single, 3rd party vendor approved by Cadence. Furthermore, Cadence Bank communicated that if I did not use their vendor, they would rescind the loan approval. After communicating this was a conflict of interest in a loan approval process only using single approved vendors to fulfill their own loan requirements, I decided to cancel the application process and requested for my $12,000 deposit to be returned. Cadence did not agree and only refunded 1/3 of the deposit in June 2023.

  Business response

  07/31/2023

  We are in receipt of complaint case No. ******** submitted by Mr. ******* *****. The Bank's response was mailed to the complainant. 

• Initial Complaint

  05/01/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I put thirty thousand dollars in a savings account and they are saying I never Put more than $50 in that account. I came to the bank with a 135000 I. Put 30? 1000 in the savings account because they said that's as much as I could put and earn the interest. Then come to find out my money disappeared. I have Fifty dollars I have paperwork but I'm not sure how to read it and I don't know what to do.

  Business response

  05/11/2023

  We are in receipt of case #******** filed by Fred Carroll regarding the customer's allegations of a missing deposit to his savings account with Cadence Bank.
   
  Our records indicate the customer opened a checking and savings account returning on the same afternoon to make a check deposit to the checking account. The customer made the deposit at the ITM and a new deposit hold was placed. Funds were made available to the customer. Account transaction history indicates there was never a transfer or deposit to the savings account for the amount the customer is alleging. The Bank mailed a response letter to the customer including statement copies for reference to detail all activity on both accounts.
   
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint. 

• Initial Complaint

  04/08/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Tornado hit in the state of Arkansas. I’ve called them multiple times throughout the day about my homeowners insurance . It’s been a week and no response for me to file my claim. No one has reached back out to me. They will not let me get a number to call the insurance myself to file my claim. I have to go through them but they have yet to return my call. This company has also taken 2000 dollars from me as well

  Business response

  04/17/2023

  We are in receipt of the BBB complaint case no. ******** submitted by *** *****. A Mortgage Servicing Supervisor discussed this matter with the customer directly who confirmed she was successful in reaching the claims department on 4.10.23. The Supervisor provided her direct line as well as the direct line to the claims department. A response letter was mailed to the customer on 4.14.23. 

   

  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

• Initial Complaint

  02/23/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On 1/21/2023 I visited the Vicksburg branch to make a deposit of $7,900 the teller took the cash and was out of my view as I was in the drive thru came back an told me I was short $1,000 I had counted the funds twice at home before coming straight to the bank. The teller's name is ******* ******** as long as I had been coming this was my first time seeing him. The second teller ****** ****** was present the 2 called the branch manager ****** ******* to come and help look for the misplaced cash. Ms. ******* was rude from the time she approached the window until I left. I spoke with **** **** the president to ask for assistance to check the cameras even asked if I could view the footage, he denied my request. I have no way of proving that I sent the funds into the drawer without the footage. Since the I have continued to make deposits on Saturdays like I have for almost 2 years and I have not seen either of the individuals since. Which only fuels my thought that the funds were taken from me. I help my son run his small business and while $1,000 may not seem like a lot to some it's huge for him. I would like to have the footage reviewed and the funds deposited into the account.

  Business response

  03/02/2023

  We are in receipt of complaint case ******** submitted by ***** ******* regarding a deposit made on January 1, 2023. A thorough investigation was conducted and we determined upon receipt the assisting teller ran the cash through the cash counter and the machine registered the amount at 6900.00. The customer contested this information prompting the Teller to run the cash a second time confirming the same amount. The Branch Manager was called in and supervised the balancing of the cash drawer which did not result in an overage. In conclusion, the amount presented for deposit on this date was 6900.00.

   

  A response letter was mailed to the customer on 3.1.23. 

   

  We hope this information serves to resolve the complaint case.

• Initial Complaint

  02/09/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I got a mortgage from Cadence bank in 2017. Until about Jun 2022, I had made half the monthly payment nearly every 2 weeks with no issues. In summer of 2022, Cadence Bank acquired BancorpSouth. I had no notification my mortgage was transferred to BancorpSouth. I continued paying manually via the online payment portal, but I started receiving erroneous monthly statements. After receiving each statement (Jun, Jul, and Aug), I called and the collections associates assured me my account was current and the statements were simply wrong. Based upon this, I ignored the incorrect Sep statement and continued paying as usual. By Oct, the issue appeared to be reconciled and both the Oct and Nov statements showed my account as current. My Dec statement again showed the account overdue. When I called on 12/12 and spoke with collections agent, *******, she noticed the November statement had my 11/11 payment incorrectly applied to the principal and not to the payment. She said it needed to be fixed and she was requesting an audit of my account. I continued to make my payments, and I reviewed my previous statements, noticing my 10/3 payment was never applied at all. I called 12/26 (no name), 1/3 (****) to check on the audit. Each time I was told my account is late, the problem lies with the way I am making my payments, the audit had not been done, and the associate would look into it. On 2/7, collections agent, *****, called about my late payment. When I explained the 11/11 and 10/3 errors, she accused me of not telling the bank timely and said updating the payments affects bank tax reporting, but that tax info is false anyway due to the bank errors. For 2 months, BancorpSouth has refused to audit the errors in my account as stated on 12/12. BancorpSouth has taken adverse actions to restrict my ability to pay, labeled my account as delinquent, and appear to be retaliating against me for not setting up automatic payments.

  Business response

  02/21/2023

  We are in receipt of case #******** filed by ******* ****** regarding payment application for her mortgage loan. An audit was performed on the account which found that on 6.24.22 a partial payment was misapplied as principal only as opposed to being applied as a partial payment for the month of July. Payments were reversed and reapplied effectively for the original dates received. The loan is now due for March 19, 2023. 

  
  A response letter was mailed to the customer on February 21, 2023 which explains the resolution presented as well as offers a biweekly payments option.

  
  We hope this satisfies any questions or concerns regarding our resolution of the customer’s complaint.

  Customer response

  03/01/2023

  Better Business Bureau:

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

  Regards,

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

   

*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. ↩