Product: Checking or savings account

I am writing this letter to lodge a complaint against Axos Bank and its XXXX XXXX XXXX for interest I earned in XXXX for account XXXX that was not properly credited due to erroneous information that was given to me by customer service when I transferred my balance to another institution on XX/XX/2020. 

The money market account ( statement activity attached XXXX to XXXX ) was opened and funded on XX/XX/2020 for {$220000.00} when the annual interest rate paid on the account was 1.35 %. Subsequently the rate was reduced to 1.00 % in XXXX. On XX/XX/2020 I noticed that the rate paid on the account was further reduced to 0.40 %. At this point I called customer service at XXXX XXXX to inquire about transferring and/or closing the account while specifically inquiring about receiving earned interest between XX/XX/XXXX and XX/XX/XXXX. I was told that as long as I did NOT close the account, interest would be credited at the end of XXXX for the stub period. There was NO mention of being required to keep a balance above XXXX for the balance of XXXX in order to earn any interest in XXXX. I did not become aware of this policy until I was told by customer service on XX/XX/2020 after my account was credited for {$32.00} ( attached ) for what they called a customer accommodation. I withdrew the account balance on XX/XX/2020 for {$220000.00} by XXXX XXXX XXXX but kept the account open in order to earn interest as verbalized by customer service on XX/XX/2020. I was misled. 

On XX/XX/2020 I saw that I had received no interest payment for my account in XXXX. I called customer service and, after looking at my situation, he agreed that I should have received interest for the stub period in XXXX. Customer service said that it would forward my complaint to an account specialist for review and resolution. On XX/XX/XXXX, I was notified that a Supervisor had been forwarded my case and I would hear back from customer service shortly. Later I received an Email ( attached ) stating that XXXX had credited my account interest for {$32.00} for XX/XX/XXXX through XX/XX/XXXX. Since I had done a preliminary calculation on how much interest I actually should have earned in XXXX, I knew this was an arbitrary number. 

I called customer service yet again and told them that the interest earned on {$220000.00} from XX/XX/XXXX to XX/XX/XXXX should have been {$81.00}, not {$32.00}. This was based on a reduction in the interest rate from 1.00 % to 0.40 % on XX/XX/2020. Customer service told me that based on their disclosures I had forfeited interest for XXXX because I had XXXX out the balance. As I previously stated, this is NOT what customer service had told me back on XX/XX/XXXX when I XXXX  out the balance. I had specifically asked about guaranteeing earned interest from XX/XX/XXXX to XX/XX/XXXX. I was given erroneous information by XXXX XXXX ( Axos ) and do not believe they should be rewarded for their own customer service mistake. Practically speaking, if I had kept a balance of {$0.00} in the account, I would have been credited for about {$81.00} in interest, not XXXX. Since they did credit the account for {$32.00}, I have been shortchanged {$49.00} and accordingly am lodging this complaint. 


PS. As a separate issue, the account in question is a money market account. Yet on XX/XX/2020 they charged me {$5.00} for a check ordering fee. I did have it reversed but I believe customers are being taken advantage of across the board.