Consumer complaint received 2023-12-21
Company: U.S. BANCORP
State: KS
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
SUMMARY : US Bank ( usbank.com ) offered a promotion : fund a checking account with at least {$15000.00} in 60 days and receive {$750.00} bonus. Or, fund with at least {$5000.00} and receive {$500.00}. 

I opened my account. US Bank prohibited me from receiving the {$15000.00} by : - Limiting the incoming transfers to between {$25000.00}, and only allowing a maximum of {$5000.00} per week. 
- Not providing me the bank account number or transfer information until I specifically requested it 2 weeks later. 
- After 5 successful transfers ( in approximately the 3rd week out of 30 days for promotional offer ), US Bank blocked my 6th transfer which would have put me over the {$15000.00} balance. 
- US Bank then said that the phone number I had originally supplied, and which US Bank had approved, was no longer acceptable as a verified phone number. 
- US Bank gave misleading information on what was required to modify my account phone number. First stating an email, then stating an email formatted as a letter with a signature, and then stating a notarized letter must be sent in. 
- I then requested a debit card while talking with XXXX on XX/XX/XXXX ( the debit card would get me a PIN which would enable me to modify the phone number ) and she said it would be sent to me, yet US Bank did not send it for over 3 weeks. 

Combined, these actions prevented me from receiving the bonus. It was wrong of US Bank to offer a promotion and then block me from qualifying for it. 

As soon as I was able to maneuver around the US Bank hindrances, I did get more than {$15000.00} in to the account (. I then shared my story/this information with US Bank and appealed for consideration of the {$750.00} bonus. I was told that a regional manager from US Bank who had the authority to have approved my appeal reviewed my case and refused, instead only authorizing me to receive a {$500.00} bonus -- which was not the promotional offer I had accepted and had worked to achieve. 

ADDITIONAL DETAILS : - I opened an account the end of XXXX and immediately began trying to transfer funds into US Bank. 
- I would have transferred/deposited the full {$15000.00} into the account but US Bank limited the amount I could initially deposit to a maximum of {$3000.00}. I deposited {$3000.00} on XX/XX/XXXX when the account was opened. 
- US Bank did not notify me of my account number or account info and I had no way to transfer additional funds for approx two week delay. Eventually a CSR contacted me ( XXXX, approx XX/XX/XXXX ) and I asked her what my account number was. I was then able to set up my online bank account. 
- When setting up my online bank account the US Bank website asked for my phone number. I provided my business number, which is XXXX. The phone number is a XXXX phone number and works for voice and text. US Bank accepted my phone number. 
- On XX/XX/XXXX I was finally able to begin making external transfers into the account. Unfortunately, US Bank limited the amount I could transfer to {$2500.00}, and US Bank limited the amount of times I could make a transfer. I would have transferred the full amount in to get {$15000.00} but was not able to. I transferred the most I could, the fastest I could : - XX/XX/XXXX {$2500.00} ( balance {$5500.00} ) - XX/XX/XXXX {$2500.00} ( balance {$8000.00} - XX/XX/XXXX {$2500.00} ( balance {$10000.00} ) - notice the one week delay here? This was due to US Bank imposing a weekly transfer limit. 
- XX/XX/XXXX {$2500.00} ( balance is now {$13000.00} ) After completing 1 initial deposit and 4 external transfers, I tried to initiate the final transfer of {$2500.00}. Notice that this would have qualified as 30 days from initial account opening. Yet, US Bank 's website refused my final transfer and said I needed to supply a phone number- which I previously had supplied and was in the system just fine for the first 5 transactions. When I clicked on the website to the link to provide a phone number, my phone number was already populated in my profile. In other words : my phone number was not missing. 
- Thus began hours of phone calls and troubleshooting. 
- I was told that I should have set up a personal profile to access the web site before setting up my business account. I set up a personal profile - transfers still did not work. 
- I eventually was told my phone number needed to be an actual mobile phone, even though the web site did not say this. 
- I tried to change my phone number to my personal mobile phone number but the site would not accept the change. 
- I was told I needed a debit card and a PIN, or to email them to change the phone number. 
- I sent an email to a certain email address to have my phone changed. The change was rejected. 
- I called in and was told I needed to email in as a letter with my signature. 
- I emailed in as a letter with my signature to have my phone number changed : they replied I needed to have a notarized letter sent in. 
- At this point I decided to instead get a debit card and PIN - On XX/XX/XXXX I called in and talked with XXXX who said she would send me a debit card. I would then have a PIN and be able to change my phone number. 
- No debit card arrived. 
- On XX/XX/XXXX, XXXX, from the local branch called to see how I was doing. I explained my problems and she checked the computer. No debit card had been ordered. She placed a debit card order for me and one arrived a few days later on XX/XX/XXXX. Several days after that a letter arrived with the PIN ( XX/XX/XXXX ). 
- With the debit card in hand and then a PIN, I was able to change my phone number and complete the final transfer on XX/XX/XXXX ( arrived at US Bank on XX/XX/XXXX ) - so the balance was now {$15000.00}. This was VERY close to the 60 day window. 

Note that a few of these days are approx. yet still accurate, because I did not anticipate having to create this level of detail about the entire situation. Some of the dates, such as the dates of transfers, I was able to get from my bank statement. Other dates I had in my notes from phone calls with US Bank employees, or in emails that were sent. 

Throughout the entire process none of the delays were my fault : I processed every action the day or, or, no later than the next day. Every delay was caused by US Bank. Despite the hassles and delays from US Bank I came very close to the 60 day time, yet US Bank refused to honor the promotion, even when I supplied details about the extra ordinary circumstances I had to work through.

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