August 2021 by Keith Whitt
It is rare for me to write a negative review. I've owned businesses (and own one now) and have been in the upper echelon of leadership at a $1.3 billion corporation, so I know problems happen. But I also know there is a workable solution to every problem. We opened an account at First Farmers and Merchants Bank when we first moved to the south central TN area and found everyone to be helpful and courteous, as the older reviews reflect. Most of the faces you see are friendly, even though the faces seem to change (the reviews by past and current employees on Indeed and Glassdoor reveal why). The tellers and most branch personnel are not the problem. EVERYTHING rises or falls on leadership. As the bank has grown, apparently, "upper management" has changed the focus from customer service to pursuing profit for the bank at all costs. The two are not mutually exclusive under competent leadership -- and there is a huge difference between "leaders" and "managers...." Upper management requires a hold on deposited checks over $5500 for ten days. Of course, you are not told this beforehand. I was told my deposit (from a decent sized sale to a large local business) would be available in 3 days, but upper management stepped in and changed the terms, while throwing the blame on the teller's "mistake." Managers throw their people under the bus. Leaders don't. If the teller makes a mistake due to lack of knowledge (I was told her training was less than thorough), the problem IS upper management. Who is ultimately responsible for proper training? Again, EVERYTHING rises with competent leadership or falls because it is lacking. Here, it is obviously the latter. Even cash deposits are sometimes marked "pending" for several days. This allows them to utilize their customer's money interest free for the bank's investment funds. The fact that the check has cleared has no affect on the hold. As well, there is no overdraft protection, even if you have sufficient money in savings and don't make an IMMEDIATE transfer -- and it better be immediate. They honor the charge (at least in my experience), but hit you with a high fee for doing so. Transferring the money the same day before the close of business does not eliminate the fee. The goal is to generate exorbitant fees for the bank's bottom line, not take care of the customer. Access to one's savings account is limited to a small number of times each month or there is a penalty. Reviews online by others will reveal what happens if you fall below their designated balance limit. If you are looking for a bank whose mission is to treat you as a person, rather than solely as a source of income -- keep looking. A quick review of the BBB complaints (they utilize the "privacy" smokescreen to stop the complaint process) and current reviews elsewhere tells the tale of the current treatment of "customers."
