Consumer complaint received 2023-07-14
Company: U.S. BANCORP
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
Dear Representative of the Customer Financial Protection Bureau ( CFPB ), I hope this email finds you in good health. I am writing to formally lodge a complaint against U.S. Bank concerning their inability to deliver the promotional bonus promised during their XX/XX/2023 promotion. Despite fulfilling all the specified requirements mentioned in the promotional email, I have yet to receive the $ XXXX bonus as advertised by U.S. Bank . 

To provide you with a comprehensive overview of the situation, I have attached the necessary documents for your reference. Attachment 1 contains a screenshot of the promotion information. 

The promotional offer explicitly stated the following : To earn up to {$600.00}, open a Bank Smartly Checking account online, in a branch, or over the phone with an opening deposit of {$25.00}. Then, complete the following activities within 90 days : Enroll in the U.S. Bank Mobile App or online banking. 
Complete two or more direct deposits. 

I opened the account on XX/XX/XXXX and successfully enrolled in the U.S. Bank Mobile App, as evidenced by Attachment 2, which is the email confirmation I received from the bank. 

Furthermore, Attachment 3 contains the account statement issued on XX/XX/2023. As you can see, I made direct deposits of {$5300.00} on XX/XX/XXXX and {$5600.00} on XX/XX/XXXX from my paychecks issued by my employee- XXXX XXXX XXXX. The total direct deposit amounts to {$10000.00} USD, meeting the criteria set forth by U.S. Bank : " You must also complete two or more direct deposits within 90 days of opening your account that total : {$3000.00} to {$5900.00} to earn the {$200.00} bonus, {$6000.00} to {$9900.00} to earn the {$400.00} bonus, or {$10000.00} or more to earn the {$600.00} bonus. '' " The checking bonus will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in online banking or the U.S. Bank Mobile App, as long as your account is open and has a positive balance. '' According to the terms, I should receive the {$600.00} bonus no later than XX/XX/XXXX. 

Throughout this period, I have made several calls to U.S. Bank in an attempt to resolve this matter. However, I have not received a satisfactory resolution. The following are the dates and outcomes of my conversations with their customer service representatives : XX/XX/XXXX - I was informed that I met the requirements and should be eligible for the bonus. 
XX/XX/XXXX - I received the same response as before, with the representative stating that the bonus would be deposited when my monthly statement closed. 
XX/XX/XXXX - Having confirmed that my statement had closed and that I had not received the bonus, I called again. However, this time I was told to wait until XXXX to see any results. Despite my request for a case number, the representative declined to open a case, instead leaving a note on my account. 
At this point, the following facts are clear : U.S. Bank representatives have confirmed multiple times during my calls that I am indeed eligible for the {$600.00} bonus. 
It has been more than 60 days since my last eligible deposit. 
There appears to be no valid reason for me to wait until XXXX, and I am concerned this delay is merely an attempt to keep me waiting indefinitely. 

I firmly believe that U.S. Bank 's failure to fulfill their promotional commitment is a breach of their terms and an infringement upon the agreement established between U.S. Bank and its customers. Such practices erode consumer trust and undermine the credibility of financial institutions. Consequently, I kindly request your intervention in resolving this matter and ensuring that U.S. Bank promptly deposits the promised {$600.00} bonus. 

As the governing body responsible for overseeing fair and responsible banking practices, I trust that the CFPB will conduct a thorough investigation into this complaint and take appropriate action against U.S. Bank, if necessary. I would greatly appreciate your assistance in resolving this matter and safeguarding my rights as a consumer. 

Thank you for your attention to this issue. I anticipate a prompt resolution and a favorable outcome. Please feel free to contact me if you require any further information or documentation.

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 monetary relief