Consumer complaint received 2023-10-31
Company: BMO HARRIS BANK NATIONAL ASSOCIATION
State: CO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I opened an account with BMO in early XXXX, XXXX after receiving a marketing promotion in the mail with a bonus for opening an account. I was in the market for a new local bank and the marketing worked. 
-On XX/XX/XXXX I deposited a check which was my paycheck from my work, the amount was {$1100.00}. This was a mobile deposit using the BMO banking mobile app. I had also deposited {$200.00} in the checking account via electronic transfer from my existing/previous bank account outside of BMO. 
XXXX XX/XX/XXXX when checking my account I noticed that I was locked out of my online banking accountwhen logging on the BMO site said my credentials or password were incorrect, and to reset my password. The reset password flow did not work and I was still locked out of the account. 
-On XX/XX/XXXX I visited a BMO branch bank in XXXX to regain access to my account. 
-After getting mobile banking access reestablished, I noticed that I could see the balances of my account but was unable to move money between the BMO checking and savings accounts. 
-I called customer service on XX/XX/XXXX and was told that my account was under investigation for fraudulent activity. After multiple calls I was told that the XX/XX/XXXX paycheck was suspected of being fraudulent. I asked for more information on this but was not given any. 
-I asked the fraud department to have a manager call me about the issue, I was told this would happen but it still has not as of XX/XX/XXXX. 
-I was told that the investigation by the fraud department would take up to 14 business days, however on XX/XX/XXXX a Customer Service Representative from BMO stated that my account would be closed after the investigation, and that a cashiers check would be mailed to me at some point after that ( potentially in XX/XX/XXXX ). 
-I asked for information in writing regarding the status of my account and further information in writing when the status of my account was updated or resolved. I have still not received any information in writing as of XX/XX/XXXX. 
-I have been working for my current employer since XX/XX/XXXX, and have deposited or direct deposited all of my previous paychecks to my existing/previous checking account WITHOUT ISSUE. 
-I contacted my employer HR and they confirmed that BMO has drawn the money from that XX/XX/XXXX paycheck as of XX/XX/XXXX. 
-I am distressed that my money has been taken and frozen by BMO with little information and no updates about the status of the investigation, and further, that when I have requested information from managers that these requests have been verbally confirmed, but not resulted in any calls or updates. 
-I have spent over 4 hours on hold on the phone, and visiting the branch in person, in regards to this account frozen issue. 
-I have paystubs and bank statements showing my previous paychecks from my employer.

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