Consumer complaint received 2021-08-25
Company: PNC Bank N.A.
State: VA
Product: Payday loan, title loan, or personal loan
Sub-product: Installment loan
Issue: Problem when making payments

Complaint:
This personal loan was originally opened through Simple in XX/XX/XXXX with a balance of {$19000.00}. Simple transitioned to part of BBVA on XX/XX/XXXX. Since XX/XX/XXXX, it has been impossible to obtain a statement from BBVA for the loan account. Because of this, I have had to rely on BBVA 's mobile banking website. The website is extremely underwhelming, and makes it literally impossible to ascertain the cause of all credits and charges against the loan. 

1 ) There is a list of transactions for the account, but every entry is either a Regular Payment, Payment Reversal, or Curtailment. 
a. None of the various entries stated above indicate what they are linked to. If I submit a payment that is over the regular amount, I'd expect to see a curtailment, but that is not the case. The curtailments don't indicate which payment they stem from and are all in rounded whole numbers ( ie : {$22.00}, {$60.00} ), which is suspicious. Likewise with the Payment Reversal entries. There is no link between all the entries and it's impossible to piece together the true history of the account. 
2 ) There is no information as to where any payment is coming from ( whether an external transfer or an internal transfer ), if it was a successful payment, or if it's attributed to autopay. 
3 ) There is no indication that autopay even exists as a feature for this account. I only found out about its presence because of an overdraft notice due to the ongoing autopay. 
a. Autopay has been set up on this account since the transition from Simple, which is something I was not aware of. I do not use the BBVA checking account setup with autopay and it has had a negligible balance that would not cover the loan payment since XX/XX/XXXX, yet the autopay payments were being applied and then reversed, over and over again, with no notification to me until XXXX. Why they applied autopay, but then didn't assess a fee for 3 months is very inconsistent. 
b. The Regular Payment entries don't reflect that they were not applied or that they stem from autopay, adding to the ongoing confusion. 
c. Instead, there are entries listed as " Payment Reversal, '' but they don't match up with the payments that were not applied! 
4 ) Drilling down into a payment shows the amount of the payment that was used for interest and the amount for principal a. This is inconsistent. Some payments show the split between the interest and principal and others just show nothing! 

This was never a problem when the loan was serviced by Simple and as such, all of my payments were on time, since Simple provided an easy to understand statement. Since BBVA has taken over this account, it has been nothing but trouble just trying to give them my money for repayment. This has resulted in fees assessed to the loan account, as well as fees assessed to the BBVA checking account.

From my point of view, BBVA intentionally obfuscates the truth of the account and the associated charges on their website. My request for forensic analysis of the account to make sure it is still inline with the amortization schedule has gone unheeded, and the useless information from the website is all I have to go on. This has resulted in me working with an accountant to piece together all charges and payments since XX/XX/XXXX, which BBVA should be willing to furnish, but has not. 

Here is the crux of my complaint : As of XX/XX/XXXX, the original amortization schedule shows that my latest payment for XXXX of XXXX should result in a total minimum payment amount of ~ {$5400.00}, with a balance of ~ {$16000.00}. As of writing this, my payments since the loan origination have totaled {$7400.00}, and the balance reported by BBVA is {$16000.00}. This makes no sense. 
I have paid {$51.00} in fees in the last month due to the useless website and misleading practices. 

I sent a letter requesting statements on XX/XX/XXXX, but have not yet received a response. 

I called on XX/XX/XXXX to follow up, as well as to discuss the fees and closing the account. I discovered that autopay was enabled on the account, and that the fees couldn't be refunded.

Company response to consumer: Closed with explanation