Product: Checking or savings account

DATES/ACTIONS XX/XX/XXXX I contact Simple through the Support Messaging on their mobile app. I said I had a check coming in that was higher than my approved daily deposit limit ( {$2500.00} ) and asked if there would be an issue depositing the check. 

XX/XX/XXXX A support representative replied that my daily deposit limit had been increased to {$9500.00} and I would be able to deposit my check. 

XXXX I deposit the check ( Amounting to around {$3600.00} ). Later that day Simple sends a support message stating my funds will be held for 5 business days without providing a reason. I send a support message asking for a reason, but receive no response. 

XXXX I call the customer support line and request a callback as the wait time is over XXXX minutes. When I do receive a callback I speak to an agent and ask the reason for the hold on my account. She states : - There is no way for her to provide a reason for the hold on my account. 
- Even though my daily deposit limit is much higher than the check, they can place a hold on my check. 
- They are all working remotely so there is no way for her to get in touch with someone who could give me a reason ( This is very unsettling. As a consumer, I feel like the employees of my bank should have resources and contacts to do their jobs even if they are working remotely ) - I state that I have another check to deposit and ask if there is any way to know ( prior to depositing ) when I will receive my funds. The agent says there is no way to know when I will have access to my funds as this is decided in a " back room '' on a case by case basis. ( Also very alarming as a consumer. Made me feel that Simple employees can arbitrarily decide the fate of consumers without regulations or explanations ) - There is no way the hold on my check could be removed after it has been placed ( so does this mean if Simple made a mistake they can not fix it? ) I ask to be escalated. The agent states that escalating will not help me, but does it anyway. I get connected with XXXX, a senior support agent, who seems disgruntled from the start. 
- I try to convey my issue to XXXX and humiliate myself begging for a reason my check was held and asking if I can safely deposit my newest check. 
- XXXX is short, rude and sighs throughout our brief conversation. Eventually we are disconnected or she hung up on me. 
- XXXX made no attempt to get back in touch. 

I am still on hold ( over an 1.5 hour wait ) to get back in touch with customer service as I compose this message. At this point I've wasted most of my day on this. 

REASONS FOR MY COMPLAINT Reference : XXXX : XXXX XXXX XXXX XXXX  On the Simple Website it states, " Additional holds up to 5 business days may apply ; if any of your check deposits are subject to an additional hold, we'll be in touch with more information when the hold is placed. '' I did not receive any additional reasoning or explanation and was told by two representatives that I will not receive a reason as " no one knows except the decision maker ''. 

My deposit did not meet any of the requirements Simple gives for holding a check : - First 30 days as a customer ( I have been a customer for more than 30 days ) - If the check is greater than {$5500.00} or multiple checks are greater than {$5500.00} ( I only deposited one check less than that amount ) - Account is/has been/would be overdrawn by {$5500.00} ( I am not overdrawn by that much, though I have had declined transactions totaling less than {$100.00} - my account balance does not reflect an overdraft at all and nothing totaling {$5500.00} ) - They have reason to believe the check will not clear. This check was issued through a major national insurance company, so it seems unlikely they would suspect them of bouncing a check in such a small amount. 
- Emergencies, such as natural disasters ( Nothing that I am aware of has prevented Simple bank from operating as usual. Employees have stated a " seamless '' transition to remote work during the pandemic on XXXX. Neither agent mentioned an emergency ). 

My best understanding of the FDIC regulations state that if the bank issues an exception hold on my deposit they are required to issue a reason for the hold. I have received no such reason. I do not believe my deposit qualifies for any of the exception hold reasons listed by the FDIC regulations or the Simple bank policies.