Consumer complaint received 2022-10-12
Company: U.S. BANCORP
State: NV
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Cashing a check

Complaint:
On XX/XX/XXXX I deposited a check of {$5300.00} issued by XXXX for a vehicle I trade in/ sold to them. US bank did not honor not even the {$220.00} and they hold all the funds. I spoke to different agents asking why they were not honoring the funds as it showed on my account the check as deposited and not pending. They couldn't respond to me. I asked multiple times I needed a reason of why they will hold the funds and make an exception with me and not honor any portion of the check or the {$220.00} that usually tha banks does. They said they couldn't tell. They sent me several times to the branch the branch kept saying the hold was not from their end and that US bank reps or fraud department send you to the branch when they don't want to deal with the customer or provide with true information. I explained to US Bank that I needed a valid reason as XXXX was supposed to issued the check over 2 weeks before they did and that I needed the funds asap for a family emergency. 

On Friday XX/XX/XXXX XXXX at fraud department with US Bank told me that XXXX was holding the funds until XX/XX/XXXX. I went to XXXX on that same Friday and they said the funds were not on hold. I went back on Monday, and XXXX said that their corporate office confirm the funds were released to US Bank on Monday XX/XX/XXXX I called US Bank again, as none of the reps returned my calls as they promised including the branch manager, and they finally admitted the funds were not hold by XXXX but for internal purposes US Bank needed to hold the funds until XX/XX/XXXX and there was nothing they could do to expedite the funds. I explained the purpose of the urge on need of those funds and the rep that assisted me today said unfortunately it is an internal decision and I won't have access to the funds until or after XX/XX/XXXX XXXX XXXX XXXX XXXX @ US Bank XX/XX/XXXX XXXX XXXX US Bank XX/XX/XXXX - No call returned XXXX @ Branch - No call returned She apologize for what her teller stated and she will reach out the Fraud department to find out the reason of the bank holding the funds and will call me back XXXX XXXX US Bank Branch The account is new and the bank needed to build trust on the firsts checks deposits and when the XXXX & XXXX numbers don't want to deal with a client or when they don't know what to say they just keep sending clients to the branch but what they told me is not true. The hold is not coming from the branch and there is nothing they can do. 

XXXX @ US BANK XXXX - XX/XX/XXXX XXXX is holding the funds and that is why they don't release them XXXX XXXX XXXX Ext XXXX XXXX XXXX US Bank Fraud - She apologize for the inconvenience, the XXXX from XXXX are showing processed but it takes XXXX for US Bank to release the funds to me. She doesn't know why but the release date will remain the same XX/XX/XXXX and there is nothing they can do because the hold it is already on the system XXXX XXXX XXXX Ext XXXX

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 explanation