Consumer complaint received 2023-05-19
Company: PNC Bank N.A.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
BBVA was purchased by PNC Bank, all my accounts and mortgage were transferred to PNC bank in XXXX. During this time there was an insurance claim pending for the house that PNC bank holds to note on for flood and homeowners insurance. Flood check was released first but had BBVA listed on check for endorsement, the branch manager XXXX at the time said once its reissued with PNC bank listed for endorsement to bring in, deposit and PNC will send check for all necessary endorsements, including to the SBAs, then funds would be released. XXXX XXXX homeowners check was issued in XXXX of XXXX, my wife took to PNC bank in XXXX XXXX, Fl and made deposit on XX/XX/XXXX. The teller advised her the check would need to be endorsed from all parties listed and proceeded to deposit funds with a hold placed. At the end of XX/XX/XXXX, I received 1 letter from PNC bank dated XX/XX/XXXX stating check would be held for 10 additional days to ensure it cleared the account. Knowing the check needed to be endorsed by PNC and SBA, I assumed it would be held a little longer. As of XX/XX/XXXX the hold is still on my account for the total amount of check. I started a chat with PNC bank online XX/XX/XXXX to inquire about funds, I was advised needed to go to branch. Sometime mid XX/XX/XXXX, I went to branch and spoke with new branch manager  XXXX, he informed me he could not give me any information and he would escalate the issue. At this time an executive relations specialist was assigned, XXXX. XXXX tried to reach me by phone during business hours, I am a XXXX  and unable to answer calls during XXXX. My wife, XXXX, called XXXX multiple times leaving her messages that although not on mortgage or account, she just wanted to assist with scheduling a time for XXXX and I to speak. XXXX never got a call back. On XX/XX/XXXX I chatted with PNC bank again, they advised I had to speak with XXXX and could not tell me any information. I explained I returned her call and my wife has tried to reach her as well but we were both unsuccessful. The rep documented the situation. When I logged onto my home owners insurance account, it showed last payment in XX/XX/XXXX, but when I was able to reach a representative in XX/XX/XXXX, XXXX XXXX representative informed the check cleared their account the day I deposited the funds on XX/XX/XXXX. I received an email again from XXXX on XX/XX/XXXX stating she was trying to reach me. I immediately responded explaining she can call my wife anytime or she can call me tomorrow. XX/XX/XXXX and XX/XX/XXXX I did not receive a call from XXXX. I emailed her back letting her know I did not get a call but I do not understand why funds are still held as check was already paid by insurance company. At this point, XXXX went into the branch and asked them to have manager call me. On XX/XX/XXXX XXXX returned to the branch and spoke with XXXX explaining we need answers. XXXX scheduled a meeting with XXXX for XXXX XXXX on XX/XX/XXXX for her to call me. On XX/XX/XXXX XXXX had a co-worker call, XXXX, asking to get background information on the issue despite the email I sent to XXXX explain the problem. We asked XXXX to have the supervisor reach out to us. XX/XX/XXXX XXXX XXXX, executive branch supervisor called, we explained the problem to her but she was unable to tell us why funds were not released and where the money was. Since then XXXX has spoken to XXXX XXXX multiple times trying to resolve the issue. The only suggestion is for them to give a cashiers check from PNC listing me, PNC and SBA on check and starting the process of endorsements over again. That is not acceptable. PNC has held these funds for 5 months, avoided my calls, caused a financial hardship for me, and undue stress and wants me to go through whole process of having to get check endorsed and wait for funds again. XXXX spoke with XXXX XXXX and Regional Manager XXXX on XX/XX/XXXX and explained flood insurance checks were reissued finally and we need to get them endorsed by PNC. For the first time since this has started XXXX and XXXX asked if we could provide a break down for funds from insurance company for the flood checks and the homeowners check that was processed in XXXX of XXXX. XXXX emailed them to XXXX on XX/XX/XXXX. As of today when XXXX spoke with XXXX, they still dont have a solution to the funds being held, and are waiting to hear back from mortgage department of how we get the flood checks properly endorsed by PNC bank so we can deposit into another account. XXXX XXXX homeowners insurance company also advised us that PNC bank deposited the check in XX/XX/XXXX without the SBAs endorsement. During the conversations XXXX has had with XXXX, XXXX asked if anyone reached out to the SBA to see if a check would need to be reissued and was told by XXXX I dont have an answer for that. From the conversations that have taken place with XXXX, no real reason as to why funds are still being held has been given, nor can she answer where the funds are at. PNC bank has violated my rights as a consumer, placed a indefinite hold on the holds despite them already being paid to them, sent me a later dated 6 days after the check cleared indicating funds will be held for 10 additional days to ensure it clears, did not Inform of additional exception holds being placed on the check or account, refused to answer calls or return my calls, caused a financial hardship for me and undue stress in my life. I have had to cancel patients so I could make time to go into the branch or be available for a call. Ive attached a copy of the initial letter indication hold, copy of check before it was deposited, the chat conversations with PNC bank, and the email communications with PNC bank.

Company response to consumer: Closed with explanation