Consumer complaint received 2023-11-05
Company: U.S. BANCORP
State: WA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
Issue : Missing {$600.00} us bank merchant services account sign-up bonus. 

Earlier this year back in XX/XX/2023, I had applied for a US Bank Business checking account AND a US bank Merchant Services Account. 
At the time of opening these account, the business checking account offered a bonus of {$500.00} and the merchant services account offered a bonus of {$600.00}. As per the terms, both bonuses can be clubbed to make a total of {$1100.00} in bonuses. 

8 months later and after having met all the requirements I have still not received the {$600.00} merchant services bonus ( I have received the {$500.00} business checking bonus ). I must mention that I have kept the account open all these months and have also been charged {$5.00} for the payment processing device. 

What I have done to fix this issue : - Contacted US Bank via phone : I have tried contacting us bank more than twice to resolve this issue. Even called XXXX ( Result : Both times, the representatives only transferred me to various other departments but none were able to help me get the {$600.00} bonus even though I have met all the requirements for the bonus. 

- Contacted a Client Account Manager at US bank via email. This is same account manager that had reached out to me for additional information at the time of account opening. 

Result : No response After having tried everything in my power to get this bonus and having still not received it, I am forced to file this complaint in hopes of finally getting what I was promised at the time of account opening. 

Bonus requirements as per the terms : Requirement # XXXX ( Status : Met the requirement ) : You must open a new U.S. Bank Business Checking account and meet the above requirements plus open a new U.S. Bank Payment Solutions MerchanXXXX account by XX/XX/2023 : Met this requirement, opened a Silver Business Checking on XX/XX/2023 and applied for a Merchant services account before XX/XX/XXXX. ) Requirement # 2 ( Status : Met the requirement ) : Accept and settle a transaction into your new U.S. Bank Business Checking account within 60 days. : Met this requirement, Accepted and settled a transaction in first week of XXXX ( XX/XX/2023 ) which is well within the timeframe. 

Requirement # 3 ( Status : Met the requirement ) : Not have an existing merchant services relationship with US Bank : Met this requirement as I was a new customer Note : I have submitted my merchant account number along with this complaint Attachments : - Screenshot of the offer and the terms - Proof of application submission - Proof of application approval - Proof of one payment processed for {$0.00} which should help meet the requirements of the bonus - Proof of me being charged {$5.00} for the payment processing device each month - Proof of email sent to client account manager along with date All these files have been added to a zip file which has been attached to my complaint.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief