Consumer complaint received 2023-09-07
Company: SYNCHRONY FINANCIAL
State: AL
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Closing an account
Sub-issue: Can't close your account

Complaint:
I have a CD account at Synchrony bank that was maturing XX/XX/. I wanted to close the CD at maturity. There is no way to close a Synchrony CD on-line ; it must be done over the phone. On XX/XX/, I called and spoke with " XXXX. '' I told him that I wanted the CD in question closed at maturity, with the proceeds sent to me with via a signature-on-receipt type of delivery. The call took at least half an hour, with me being on hold for prolonged periods of time. At the end of it, I was told that the maturity / closeout instructions had been submitted and that I would get the check within 7 to 10 days of the date the CD matured. On XX/XX/XXXX  I logged on to Synchrony Bank to check on things, only to find that the CD had automatically renewed. I called Synchrony immediately and spoke with " XXXX. '' He said the computer information was incorrect and a check was on its way. At first he told me that the check had been cut the previous day and was being sent with signature required for delivery via XXXX  XXXX. When I asked for the XXXX  XXXX tracking number, he clicked around on the computer for a bit, put me on hold, etc., then eventually came back and said, well, it was sent yesterday, but apparently it's just coming in the regular mail. ( OK, well, not what I asked for, and there's nothing I can do to change the situation ... hopefully it will get here. ) Then the morning of XX/XX/XXXX  I got an email from Synchrony to let me know that the CD had renewed. ( Yes, the CD that I specifically asked to cash out, TWICE, before getting the message. ) I again called Synchrony for another long ( 30-45 minute ) call, this time with " XXXX '' (? ), again with multiple periods of being on hold. I explained the situation. " Your system and your emails indicate that the CD I want to cash out has auto-renewed, when I have requested that it be closed. '' She looked into things, and first she told me that the check process had been completed on the XXXX ( today ) and that I should get the check in 7 to 10 days. ( Note that this is different from what " XXXX '' told me the previous day -- he said the check was already in the mail ). When I asked why, then, did the account information on line say that it had auto-renewed, she said that the computer reflected an automated process and was not showing the correct information and basically not to worry about it. I wanted to verify that the check was coming via a signature-on-delivery method, and she said she would have to check. More on-hold time. Then she came back on the phone and said that, well, actually the check HADN'T been cut yet after all, but that the process had now been started ( remember, this is my THIRD phone call and THIRD attempt to get the CD closed! ). She would have to check with her manager about sending the check signature-on-delivery. Then she hung up on me when she was trying to put me on hold. As I was trying to get reconnected with the bank, she did call me back. Then she promptly put me on hold again. She came back and said that yes, it was approved, the check would be coming via XXXX  XXXX, it was being sent out today ( XX/XX/XXXX  ) but could not provide me with a tracking number ; she said I'll have to call back tomorrow and get that. At this point, I am mystified at why it has taken THREE ATTEMPTS ( and based on what's happened so far, may take more ) to get this CD closed and to get my money back. I think they are fraudulently trying to get it to auto-renew, stalling me until everything 's past the grace period to a point in time where I won't be able to cash it out without penalty. Since you can't close a Synchrony CD on-line, I have no written proof other than cut-and-paste to a XXXX  file of a message I sent them yesterday. They say they have recordings of our conversations, but that really doesn't help _me_ any. I requested written acknowledgement of the CD closure and the delivery instructions, but was told that they were unable to do that. I have received no written verification from them that they are actually closing the CD as per my wishes ; instead, I keep seeing and getting emailed information that the CD has renewed. This is either incompetence or fraud. I'm beginning to think the latter, especially when I have looked at other reviews about and complaints about Synchrony. Closing a CD should be simple. I have never had these sorts of issues with any other bank.

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