Grades are also broken down by the financial products offered be each institution. BancorpSouth Bank is rated "B+" in Mortgages, and "B+" in Bank Account Services. Click on any of the financial products to see how BancorpSouth Bank compares.
BancorpSouth Bank has received 50 consumer complaints since December, 2011 – more than 87% of other banks.
Of those complaints, 90% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' BancorpSouth Bank meets the 60-day response deadline less frequently than 80.8% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 14% of customers dispute BancorpSouth Bank's response to complaints — better than 69.5% of other companies.
Most of BancorpSouth Bank's customers complain about bank account or services with the primary issue being "deposits and withdrawals."
BancorpSouth Bank is primarily a commercial bank with a commercial lending specialization. BancorpSouth Bank is based in Tupelo, Mississippi and is the 70th largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, BancorpSouth Bank receives far more complaints than most other banks. BancorpSouth Bank recieves more complaints per customer than 97% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Bank account or service||Checking account||Deposits and withdrawals||14|
|2||Bank account or service||Checking account||Account opening, closing, or management||8|
|3||Mortgage||Other mortgage||Loan modification,collection,foreclosure||5|
|4||Bank account or service||Checking account||Problems caused by my funds being low||4|
|5||Bank account or service||Savings account||Deposits and withdrawals||3|
|6||Bank account or service||Other bank product/service||Account opening, closing, or management||3|
|7||Mortgage||Other mortgage||Loan servicing, payments, escrow account||2|
|8||Bank account or service||Checking account||Making/receiving payments, sending money||2|
|9||Bank account or service||(CD) Certificate of deposit||Account opening, closing, or management||2|
|10||Bank account or service||Other bank product/service||Deposits and withdrawals||1|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||49||48 (98%)||7 (14.3%)|
|2||Closed with monetary relief||8||8 (100%)||1 (12.5%)|
|3||Closed without relief||4||0 (0%)||1 (25%)|
|4||Closed||1||1 (100%)||1 (100%)|