topic Beware FNBO Business Credit Card Recurring Payments in Business Credit

Beware FNBO Business Credit Card Recurring Payments

Puppetmaster — Sat, 29 Jul 2023 02:02:06 GMT

A few months ago I opened a FNBO business credit card. Shortly thereafter I did a large balance transfer from a much higher interest rate card from a different issuer. I also went to FNBO's web site to set up automatic recurring payments. But I stopped and did not complete that process, because the only automatic recurring payment option they offer for business accounts through their web site is payment in full each month. Obviously, that's not what I wanted, because I had done a balance transfer. I stopped as soon at the website only gave me that choice, and did not finish setting up recurring monthly payments. Instead, I followed the instructions and called FNBO the next day to see if I could set up recurring monthly payments for the minimum monthly payments. They set that up.

Two days ago my bank called me first thing in the morning to alert me that there were two items being presented for which there were insufficient funds in the checking account. I responded that there were not any two outstanding items that could possibly be overdrawing the account, so they told me where they were from, both FNBO, one for a minimum payment amount and the other for the entire balance!

I called FNBO, who were absolutely unhelpful and rude, insisting that the only way the full balance recurring payment could have been processed would have been for me to complete that process online, which I absolutely did not do. They could not explain how their rep who set up the receurring monthly minimum payment would have missed seeing it if I had already set up recurring monthly payments in full, they could only put blame on me. They refused over and over and over again, through a few escalations, to credit me for the overdraft fee from my bank. I had to beg my bank to waive it, which they did.

But guess what? FNBO tried to process it again today, so now there is a new overdraft fee with my bank, and we haven't even started down the inevitable path of fees that FNBO will certainly charge for rejected payments.

I was really happy with FNBO until two days ago. Now I'm not happy at all. This has the makings of a potential bigger nightmare.

Re: Beware FNBO Business Credit Card Recurring Payments

SouthJamaica — Sat, 29 Jul 2023 11:44:42 GMT

@Puppetmaster wrote:
A few months ago I opened a FNBO business credit card. Shortly thereafter I did a large balance transfer from a much higher interest rate card from a different issuer. I also went to FNBO's web site to set up automatic recurring payments. But I stopped and did not complete that process, because the only automatic recurring payment option they offer for business accounts through their web site is payment in full each month. Obviously, that's not what I wanted, because I had done a balance transfer. I stopped as soon at the website only gave me that choice, and did not finish setting up recurring monthly payments. Instead, I followed the instructions and called FNBO the next day to see if I could set up recurring monthly payments for the minimum monthly payments. They set that up.

Two days ago my bank called me first thing in the morning to alert me that there were two items being presented for which there were insufficient funds in the checking account. I responded that there were not any two outstanding items that could possibly be overdrawing the account, so they told me where they were from, both FNBO, one for a minimum payment amount and the other for the entire balance!

I called FNBO, who were absolutely unhelpful and rude, insisting that the only way the full balance recurring payment could have been processed would have been for me to complete that process online, which I absolutely did not do. They could not explain how their rep who set up the receurring monthly minimum payment would have missed seeing it if I had already set up recurring monthly payments in full, they could only put blame on me. They refused over and over and over again, through a few escalations, to credit me for the overdraft fee from my bank. I had to beg my bank to waive it, which they did.

But guess what? FNBO tried to process it again today, so now there is a new overdraft fee with my bank, and we haven't even started down the inevitable path of fees that FNBO will certainly charge for rejected payments.

I was really happy with FNBO until two days ago. Now I'm not happy at all. This has the makings of a potential bigger nightmare.

That is a bummer.

I went to the site, and checked the "recurring payments" tab, and did not see the usual options one would normally find: payment in full, minimum payment, or fixed dollar amount. Neither did it disclose that payments would be for payment in full.

I did not proceed further, not wanting to find myself in the same predicament as what you experienced.

If I were in customer service when you called, I would have been chagrined and apologetic, and would immediately have reported this problem to management so that the site could be repaired.

Re: Beware FNBO Business Credit Card Recurring Payments

RealEstateGuy89 — Sat, 19 Aug 2023 17:19:30 GMT

@Puppetmaster wrote:
A few months ago I opened a FNBO business credit card. Shortly thereafter I did a large balance transfer from a much higher interest rate card from a different issuer. I also went to FNBO's web site to set up automatic recurring payments. But I stopped and did not complete that process, because the only automatic recurring payment option they offer for business accounts through their web site is payment in full each month. Obviously, that's not what I wanted, because I had done a balance transfer. I stopped as soon at the website only gave me that choice, and did not finish setting up recurring monthly payments. Instead, I followed the instructions and called FNBO the next day to see if I could set up recurring monthly payments for the minimum monthly payments. They set that up.

Two days ago my bank called me first thing in the morning to alert me that there were two items being presented for which there were insufficient funds in the checking account. I responded that there were not any two outstanding items that could possibly be overdrawing the account, so they told me where they were from, both FNBO, one for a minimum payment amount and the other for the entire balance!

I called FNBO, who were absolutely unhelpful and rude, insisting that the only way the full balance recurring payment could have been processed would have been for me to complete that process online, which I absolutely did not do. They could not explain how their rep who set up the receurring monthly minimum payment would have missed seeing it if I had already set up recurring monthly payments in full, they could only put blame on me. They refused over and over and over again, through a few escalations, to credit me for the overdraft fee from my bank. I had to beg my bank to waive it, which they did.

But guess what? FNBO tried to process it again today, so now there is a new overdraft fee with my bank, and we haven't even started down the inevitable path of fees that FNBO will certainly charge for rejected payments.

I was really happy with FNBO until two days ago. Now I'm not happy at all. This has the makings of a potential bigger nightmare.

I know what you are talking about because I had this exact thing happen to me! I too backed out of it when I couldn't do what I wanted and a couple nights later I got a notification that FNBO was deducting $8800 out of my account. I didn't sleep the rest of the night. I had never had a returned item on my checking account or FNBO Card up until this happened.

Now, I highly doubt that I will be eligible for any CLI anytime in the next few years. I have had the account for about 2 years. When I spoke with FNBO they said it wasn't there fault until it took about 2 months to fix the issue and a manager called me and he said he knew all about the issue and said he was fixing my account.

The issue still upsets me when I think about it. I'm sorry this same thing happened to you and hope you have already gotten the situation rectified to your satisfaction. Thanks for posting about this issue. Best of luck.

Re: Beware FNBO Business Credit Card Recurring Payments

AzCreditGuy — Sun, 20 Aug 2023 18:02:56 GMT

I had a huge mess applying for the Business card, glad I didnt follow through. Sounds like a complete credit nightmare

Re: Beware FNBO Business Credit Card Recurring Payments

SouthJamaica — Mon, 21 Aug 2023 02:33:14 GMT

@AzCreditGuy wrote:
I had a huge mess applying for the Business card, glad I didnt follow through. Sounds like a complete credit nightmare

This thread is really about a very narrow issue, the malfunctioning of the website's functionality for setting up auto payments. I've had a business card with them for two years and haven't had any problems with anything.