Consumer complaint received 2021-03-19
Company: BANKMOBILE TECHNOLOGIES, INC
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I'm a XXXX customer ( line XXXX ) who often receives emails offering the XXXX MONEY 4 % APY checking account offer for existing customers. Sometime around XX/XX/2021, I opened an account via https XXXX XXXX XXXX XXXX " XXXX ID '' ( phone service login to XXXX ) - my first application to open an account resulted in the opening on a checking account that WAS NOT receiving 4 % " XXXX customer APY '' rate that was promised. Same day of account opening, I called bankmobile / XXXX to complain that the APY rate was 1 % and not the promised APY on the first {$3000.00} in deposits. An employee on the telephone explicitly told me that a bug on their website may have opened the account as a " non XXXX customer '' since I used a different " contact phone number '' which was not a XXXX line. The bankmobile representative said he needed to " close this account for you '' and asked me to " re-apply for the account in 24-48 hours '' with a different phone number ( my XXXX number ) in order to get the account properly setup as they had no means to modify or provide any 4 % APY on their banking backend systems. I complained to the agent of this workaround of closing and manually re-opening the account to fix their APY advertised rate problem but ultimately accepted the work around, resulting in the representative closing my original XXXX MONEY checking account. Ever since that moment, I have tried to re-open as I was instructed and bankmobile/XXXX website continues to deny my application without providing any information or explicit reason. This makes zero sense as the data inputted in the form is exactly the same as I had used originally when I applied for the same account a few days earlier. The only difference was the phone number was my XXXX line of service they had claimed was the root cause of the problem for my original account not being granted the APY 4 % on the first $ XXXX. Now I keep receiving email offers via email, as well as XXXX app and other means to sign up for the 4 % APY checking account XXXX customer perk and while I am extremely interested in having that account - the bankmobile/XXXX phone support representatives have been zero help in resolving the matter that I had an account originally improperly setup and since closed by an agent on their request as a step to resolving the matter it has now prevented me from being able to sign up or obtain the promised financial product which I had successfully signed up for previously with the same financial information and details. bankmobile continues to not provide any assistance in the matter and their promise for APY 4 % checking is a hall of smoke and mirrors. Although I do not have the original checking account number that was opened in XX/XX/2021, it should be available by searching via SSN or phone number XXXX. It was closed by their own request to allegedly fix their banking system that wasn't giving me the advertised rate 4 % for XXXX customers which I am. I would like to request CFPB assistance in escalating this matter as I signed up and successfully was approved for a financial product ( XXXX MONEY CHECKING ) which was originally not setup properly at the advertised rate ; the bank in question has now refused my application to re-open the account to get the promised rate. Which is a recorded conversation with an agent when I first signed up and did not see the 4 % APY but rather only 1 % APY rate.

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