BBB Business Review

BBB Accredited Business since 01/22/2009

Franklin Synergy Bank

Find a Location

(615) 236-2265722 Columbia Ave, FranklinTN 37064 Send email to Franklin Synergy Bank

BBB Business Reviews may not be reproduced for sales or promotional purposes.

BBB Accreditation

A BBB Accredited Business since 01/22/2009

BBB has determined that Franklin Synergy Bank meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that raised Franklin Synergy Bank's rating include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.

Customer Complaints SummaryRead complaint details

1 complaint closed with BBB in last 3 years | 0 closed in last 12 months
Complaint TypeTotal Closed Complaints
Problems with Product / Service1
Advertising / Sales Issues0
Billing / Collection Issues0
Delivery Issues0
Guarantee / Warranty Issues0
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on Franklin Synergy Bank

Customer Experience Total Customer Reviews
Positive Experience
Neutral Experience
Negative Experience
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (1)
09/17/2014Problems with Product / Service | Read Complaint Details

I closed my account with Franklin Synergy Bank in June. Their automatic bill pay chose to pay one of my bills in August, then sent that to collection.
On August 19th, 2014, I received an email from Franklin Synergy Bank stating that my online automatic bill payment to ******** **** was declined due to my account with Franklin Synergy Bank being closed. As a "courtesy" they paid my bill to ******** Consumer Loans in the amount of $300, then proceeded to tell me the account is now in collections, since there was insufficient funds in the closed account to cover the bill that they paid. I did not authorize this payment, I have, in fact, closed my account with this bank, and to state that I may have my credit affected for failure to pay back the $300 immediately is absurd.

When I attempted to contact the customer service number provided in the email I received, I was told the bill had already been paid to ********* and I was now responsible for that payment since my account did not have the funds available to cover the payment. Following is a copy of the initial email I received:

Greetings from Online Payment Service!

Your financial institution has informed us that the electronic withdrawal from your ******* ********* account could not be completed for the following reason: Account Closed. You may wish to contact your financial institution to clarify the reason for the denial.

As a courtesy to you, we have covered this payment to ******** Consumer Loans. This payment was scheduled to be delivered by 08/15/2014. As a result, you now have an outstanding balance of $300.00 due to Online Payment Service. Please contact us at X-XXX-XXX-XXXX to arrange for payment.

Go to the link below to view your account:

If you have any questions, please contact us at *************** or call us at X-XXX-XXX-XXXX.

Online Payment Service

Document Reference: (XXXXXXXXX)

When I refuted this issue, the following was what I received in response:

Dear Mr. *******,

Thank you for taking the time to e-mail us about your $300.00 payment to ******** Consumer Loans.

The payee has received this payment, as we used our funds to process your payment on your behalf. However, we were unable to successfully debit your funding account for the funds; therefore, you now have an open collections item. To resolve this, please contact our Recoveries Department.

Please call us at XXX-XXX-XXXX. Our Recoveries Department is available, Monday through Friday between 8:00 am and 5:00 pm CST. When you contact us, please offer the representative your payment reference number XXXXXXXXX.

Once this is resolved, your account will be activated within three business days.

For assistance with your bill payment service deactivation, please contact the customer services department directly at XXX-XXX-XXXX.

If you need further bill payment processing assistance, please don't hesitate to contact us at XXX-XXX-XXXX. We are here 24/7 to serve your bill payment needs.


******* **
August 18, 2014
Franklin Synergy Bank Support

Desired Settlement
I want the payment to ******** to be returned to whomever paid it on my behalf. I already have this bill set to be paid from my current bank, so there is absolutely no reason why Franklin Synergy Bank should have made a payment after my account had been closed. I cannot afford to pay $300 to prevent my credit from being ruined, especially since I closed my account and there should have been no further bill payments made whatsoever. This "courtesy" payment was not authorized.

Business Response
The customer set up a recurring monthly payment on May 2, 2012 from his Franklin Synergy Bank checking account to ******** for the 15th of each month. Franklin Synergy Bank uses an outside vendor for bill pay services.

On June 26, 2014, he closed his Franklin Synergy Bank account and cancelled the upcoming recurring payment to ******** due on July 15, 2014 but did not close the entire series of future payments still scheduled for the 15th of each month through the Bill Pay system.

Subsequently, our Bill Pay vendor made the next scheduled payment, which had not been cancelled by the customer and then attempted to collect the funds from the customer's Franklin Synergy Bank account, which had been closed. This resulted in a collection issue.

On August 20th, the customer notified the Bill Pay vendor that ******** **** has agreed to send him a check for the $300 payment and that he will then send the Bill Pay vendor the funds to resolve the collection issue.

Franklin Synergy Bank is in the process of implementing a procedure to closely check our Bill Payment system upon the closing of accounts to prevent another scenario like this one.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
"In the process of implementing" is not the same as actually providing a safeguard to prevent this issue in the future. There is no reason why this should have ever been sent to collections in the first place - my account had been closed. I'd like to know the justification to why FSB finds it appropriate to allow their Bill Pay vendor to continue to draw upon a customers closed account, especially without notifying the customer. Had I known when I opened my account that the bill payment system had the potential to go rogue at any time, I think I would have gone someplace else for my banking needs.

At this point in time, I will not accept this response. Since this issue with their Bill Pay remains open on my end and continues to be a thorn in my side, I will need to insure there aren't further issues with their vendor before I accept any response from FSB. However, I am certainly appalled that my attempts to resolve this issue before needing to enlist the aid of the BBB fell completely on deaf ears. FSB seems to have absolutely no remorse for the hassle they have caused me, and I am curious to how any others this particular issue has occurred. A quick Google search for the Bill Pay company's phone number revealed that this is something that particular vendor does consistently and regularly. Even when an account has been closed, this Bill Pay vendor causes customer after customer to go through the same issues as I have. So, no, the response from FSB was not satisfactory. Closely checking the bill payment up on the closing of an account is not the same as making sure their bill pay vendor is instructed to make no attempt to pay a bill on a closed account. This can and will happen again, and that is what concerns me. FSB has taken a stance that this is a trivial matter, not even meriting so much as a phone call to the customer at the start of everything. I say unacceptable. I'd like to hear the justification behind how this is allowed to happen in the first place. Tell me - what makes it appropriate for a Bill Pay vendor to pay a bill on a closed account and then notify the customer 3 days later of the account dropping into collections, with absolutely nothing in between? That's the true issue here. Closing an account should be a simple thing, not a monumental ordeal that needs to involve the BBB.

Final Business Response
Franklin Synergy has contacted the customer to explain what happened with our third party vendor. We told him that we have instructed our bill pay vendor not to contact him again. We reviewed all the actions taken by the bank to address the situation and provided him with a direct contact at Franklin Synergy Bank should he experience any further problems. We apologized to the customer for the difficulties he has had with this situation.

Final Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)
FSB's representative was very sympathetic to my situation, and although it was already too late to do much, has made it clear that he will do what he can to prevent this scenario for occurring again in the future. I am satisfied with this resolution, as should the bill payment trouble me any further, I have a contact in FSB that I may call to act as a mediator.

Additional Information

BBB file opened: 10/04/2007Business started: 11/01/2007
Type of Entity


Incorporated: June 2007, TN

Contact Information
Principal: Mr. Richard Herrington (Chairman and CEO)Customer Contact: Ms. Aimee Punessen (Chief Marketing Officer)Mr. Ashley Hill (Executive VP & Chief Banking Officer)Mr. David McDaniel (Executive Vice President and Chief Retail Officer)Ms. Kay Waller (Senior Vice President, Brentwood)
Business Category

Banks, Credit Card - Merchant Services, Mortgage Bankers, Real Estate Loans, Loans - Small Business, Investment Banker

Products & Services

This company offers banking and financial related services in Williamson County.

Alternate Business Names
Franklin Synergy Mortgage, Franklin Synergy Bank - Cool Springs, Franklin Synergy Bank - Downtown Franklin Columbia Ave, Franklin Synergy Bank -Brentwood
Industry Tips
Banking - FDIC

Map & Directions

Map & Directions

Address for Franklin Synergy Bank

722 Columbia Ave

Franklin, TN 37064

To | From


4 Locations

  • 341 Pewitt Drive, Suite 100 

    Brentwood, TN 37027

  • 7101 Executive Center Dr Ste 110 

    Brentwood, TN 37027-3284

  • 3301 Aspen Grove Dr Ste 106 

    Franklin, TN 37067-2903(615) 564-6400
    (615) 236-4601

  • 722 Columbia Ave 

    Franklin, TN 37064(615) 236-2265

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in 45 counties in MiddleTennessee and Southern Kentucky. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*Franklin Synergy Bank is in this range.


Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.


BBB Complaint Process

Your complaint will be forwarded to the company within two business days. The company will be asked to respond within 14 days, and if a response is not received, a second request will be made. You will be notified of the company's response when we receive it (or notified that we received no response). Complaints are usually closed within 30 business days.


BBB began including complaint response text in BBB Business Reviews on July 1, 2013. BBB reports the complaint response text for all reportable complaints against a business that are received electronically.


Industry Tips for Banks

Banking - FDIC

What is BBB Advertising Review?

BBB promotes truth in advertising by contacting advertisers whose claims conflict with the BBB Code of Advertising. These claims come to our attention from our internal review of advertising, consumer complaints and competitor challenges. BBB asks advertisers to prove their claims, change ads to make offers more clear to consumers, and remove misleading or deceptive statements.


What government actions does BBB report on?

BBB reports on known government actions that are relevant to the business's marketplace dealings with the public.


About BBB Business Review Content and Services

Some Better Business Bureaus offer additional content and services in BBB Business Reviews. The additional content and services are typically regional in nature or, in some cases, a new product or service that is being tested prior to a more general release. Not all enhanced content and services are available at all Better Business Bureaus.


Thank you for your feedback.

Help us improve by taking our survey.


BBB Customer Review Rating plus BBB Rating Overview

BBB Customer Reviews Rating represents the customers opinions of the business. The Customer Review Rating is based on the number of positive, neutral and negative customer reviews posted that are calculated to produce a score.

Customer Review Experience Value
Positive Review 5 points per review
Neutral Review 3 points per review
Negative Review 1 point per review

BBB letter grades represent the BBB's opinion of the business. The BBB grade is based on BBB file information about the business. In some cases, a business' grade may be lowered if the BBB does not have sufficient information about the business despite BBB requests for that information from the business.

BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
Star Rating scale

  Average Score
5 stars 5.00
4.5 stars 4.50-4.99
4 stars 4.00-4.49
3.5 stars 3.50-3.99
3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

BBB Customer Review Rating plus BBB Rating is not a guarantee of a business' reliability or performance, and BBB recommends that consumers consider a business' BBB Rating and Customer Review Rating in addition to all other available information about the business. If the BBB Rating is NR then only Customer Reviews are used for the Star Rating.

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.


What is a BBB Business Review?

We offer free reviews on businesses that include background, licensing, consumer experience and other information such as governmental actions that is known to BBB. These reviews are provided for businesses that are BBB accredited and also for businesses that are not BBB accredited.


BBB Reporting Policy

As a matter of policy, BBB does not endorse any product, service or business.

BBB Business Reviews are provided solely to assist you in exercising your own best judgment. Information in this BBB Business Review is believed reliable but not guaranteed as to accuracy.

BBB Business Reviews generally cover a three-year reporting period. BBB Business Reviews are subject to change at any time.