Consumer complaint received 2023-10-10
Company: REGIONS FINANCIAL CORPORATION
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I received a mailer advertising a promotional offer when completing two different actions prior to XX/XX/23 : 1. open a XXXX checking account and receive direct deposits totaling {$1000.00} within the first 90 days ; once the terms of the code have been satisfied, the offer reads, the promotional bonus of {$400.00} will be deposited within 60 days. 
2. open a Relationship CD of any term length with a minimum of {$25000.00} ; once the CD reaches maturity, the promotional bonus of {$350.00} will be deposited within 60 days. 

The promotional mailer was sent to a nonexistent person at my address. The terms of the offer read : " One bonus offer is available to the addressee or a person in the addressee 's household. '' I enrolled my offer code on XX/XX/23, and opened the XXXX Checking Account the same day ( immediately after code enrollment ). I completed the requirements for the {$400.00} bonus on XX/XX/23. 

I opened the Relationship CD ( 8-month term ) in branch on XX/XX/23. Since I have not met the terms of that promotion yet, it is not included in my complaint. 

I called the main Regions customer service number on XX/XX/23 and was told at that time that, yes, the offer was attached to my account and I would receive the bonus ; the representative explained that it was a new offer and therefore would not show up in the bonus tracker that in-branch bankers have access to. 

I'm also attaching a printout that XXXX at the XXXX XXXX branch in XXXX, GA, gave me that shows my offer code had already been enrolled, dated XX/XX/23. This is from a system that only bankers have access to, thus, I have not been able to access any information about the promotion on my own. The printout had my account number written on it, so I blacked it out, but everything else is correct. 

The terms of the {$400.00} XXXX checking bonus say that it will be deposited into my account within 60 days of meeting the requirements, but we have now passed 60 days. I sent a secure message while logged in to my online account, and was told there was no offer attached to my account. Via secure message on XX/XX/23, I was told the representative, XXXX, had submitted a " ticket '' and that I would hear back within 5 business days. I have not had any communication from Regions in that time. 

In addition, a banker at the XXXX XXXX branch, XXXX, created a ticket on XX/XX/23 with the same information I am supplying in this complaint. As of Friday, XX/XX/23, she told me she had not yet received a response. 

I followed the terms of the bonus to the letter. I would not have opened this particular account without the enticement of a promotional bonus ; Regions is in violation of the law by denying me this bonus. I now have significant funds ( over {$25000.00} ) tied up in this bank because Regions promised a bonus. 

The front and back of the mailer, including the bonus terms, are attached, as is the printout showing my offer code had been enrolled

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