Consumer complaint received 2023-07-05
Company: CUSTOMERS BANCORP, INC
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
On XX/XX/XXXX, my wife and I signed up as joint account owners with XXXX  and opened a XXXX XXXX account held at Customers Bank through XXXX, as well as a XXXX XXXX account also at Customers Bank ( the latter not a subject of this complaint ). We were able to establish online access for both accounts directly at Customers Bank. We noticed the language on the XXXX  FAQ at XXXX XXXX XXXX XXXX cancel stated " Upon cancellation of your XXXX XXXX, you retain full access to all of your bank accounts. '' We also quickly realized that we could find high yield savings account via XXXX  without paying the XXXX quarterly fee, and with the above information in mind, closed our XXXX accounts. We continued to have access to our accounts at Customers Bank. Since there is an initial 30 day period during which no external transfers can be initiated from within Customers Bank, we transferred approximately {$10.00} into each account from our XXXX XXXX XXXX account on XX/XX/XXXX and waited. 

On XX/XX/XXXX, I noticed that I was NOT able to initiate even INTERNAL transfer for the XXXX XXXX account. I contacted customer service via secure message and was told " The XXXX XXXX XXXX is a view only account through our online banking, all transactions for the checking need to be iniated through the Max platform. '' This was not consistent with the language at XXXX XXXX XXXX XXXX cancel that " Upon cancellation of your XXXX XXXX, you retain full access to all of your bank accounts. '' Thus, I first contacted XXXX on XX/XX/XXXX and was told my request would be reviewed. On XX/XX/XXXX, since I had not received any response, I added several Customers Bank representatives to the message chain. 

On XX/XX/XXXX, I received email " Account Access Restricted XXXX and XXXX. '' I called the number listed 3 times and was only able to leave a voicemail. I did receive a call from XXXX of Customers Bank at XXXX later that day and was able to reinstate access. He also said he would pass on my concerns re not having full access to the XXXX XXXX  account to the digital team, who would likely require a form to gain full access. 

On XX/XX/XXXX I received a voicemail from XXXX at Customers Bank, who seemingly did not understand my request, and simply transferred money from my Checking to my Savings account. I did not want the Checking account closed due to {$0.00} balance before my concerns re having full access were resolved, so I pushed another {$10.00} from our XXXX XXXX XXXX account to XXXX XXXX  on XX/XX/XXXX and it posted to our XXXX XXXX account on XX/XX/XXXX. I also replied to my prior email to Customers Bank and pointed out the discrepancy between what I was asking to be done ( gain full access to the account as per the XXXX FAQ ) and what had been done by XXXX ( transfer funds from the XXXX XXXX account to the XXXX XXXX account ). On XX/XX/XXXX, I received a response from XXXX XXXX that this would not be possible. I replied on XX/XX/XXXX and XX/XX/XXXX, again pointing out the discrepancies between what I was being told and what was listed on the XXXX FAQ. 

On XXXX, I received a reply from XXXX XXXX that our XXXX XXXX account not only did not have full access granted as per the statement on the XXXX FAQ but also wasclosed without our consent. XXXX XXXX DID acknowledge that the FAQ was not consistent with our experience, and so was able to have the FAQ updated that only full access *savings* accounts would be retained. Although this language is helpful to those opening new accounts with XXXX it was not the language when we signed up, which clearly stated we would retain full access to *all* accounts opened via XXXX. Yet not only do we not have full access to the XXXX XXXX account, but it has now been closed by the bank without any clear reason and without our consent.

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