Consumer complaint received 2023-09-05
Company: PNC Bank N.A.
State: VT
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
The first week of XXXX I contact PNC Mortgage to pay down my HELOC to XXXX. I was told to go online, use button for " pay off amount '' and to pay that amount. I did, which resulted in overpayment of {$1000.00}, but also received a notice that I owed {$220.00} in interest since I did not specify how much was to go to principal vs interest ( I was not told to do this ). Additionally, I was told upon follow-up XXXX that I should have requested a mailed payoff statement, and that I should ignore and not pay the XXXX HELOC statement I would receive. I had no way to shut off autopayment from the PNC checking ( which had {$0.00} in it ) for the XXXX payment. There should have been no payment since the HELOC account was overpaid ( had a negative balance ). However, PNC pulled {$1000.00} out of the account, and now I am in overdrawn status on my checking. The last week of XXXX I had called again and asked how to get this account down to XXXX. I was told I had to transfer money into the checking ( takes 5 days for PNC to clear this ) and pay the interest of {$220.00} before they would reimburse me for the negative balance on on HELOC. I was all set to do this today when I noticed the XXXX payment and overdrawn checking which I did not authorize ( any never applied for overdraft on this account ). I have requested a daily breakdown of the account for the past two months so that I can understand the flow of money, and still have not received a payoff statement after XXXX XXXX XXXX over XXXX month. I can not get a straight answer as to how to get this account to XXXX ( principal and interest ) and believe that I may be overcharged with interest payments at the same time they owe me money for paying down the account too much. 

This is after multiple issues originating the account earlier this year, and having them decline checks made on the account where they said my signature did not match the loan documents ( I checked. The signatures were identical ). 

There are so many issues with the service and the product. The staff does not seem to understand how the product works, and the process to get information by mail is antiquated. In the meantime the payment amount changes by the time you receive the information ( if you receive the information at all ). 

Additionally, PNC clearly does not want complaints. They make it nearly impossible to provide feedback, and it has to be by phone. The phone staff does not know how to handle or document or escalate complaints. There is no way via email or mail to provide complaints. Multiple phone calls this year I have said " this is a complaint '' ( on a recorded line ) and never receive any feedback. They make it impossible to document a formal complaint. 

I will be closing out this account as soon as I can get the balance XXXX  out and I absolutely do no recommend doing any type of banking with PNC. I work for a bank, and having seen what we have been asked by our regulators to make it easy and responsive for customers to file complaints, I am astounded that PNC is able to operate this way.

Company response to consumer: Closed with explanation