Consumer complaint received 2023-04-11
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:
Hello, In XX/XX/XXXX I received a promotional letter from my State Farm agent, XXXX XXXX with a time-limited offer ( through XX/XX/XXXX ) to receive a {$500.00} bonus for opening a new business checking account at U.S. bank with three steps to qualify : 1. Open a new U.S. Bank Business Checking Package using promo code XXXX. 
2. Deposit {$5000.00} in new money within 30 days of account opening and maintain it for 60 days. 
3. Make 5 qualifying transactions and enroll in U.S. Bank online banking or U.S. Mobile App within 60 days. 
XXXX XXXX 's State Farm XXXX XXXX is located at XXXX XXXX XXXX, XXXX XXXX, CA XXXX. Phone number is ( XXXX ) XXXX. 
His email is XXXX On XX/XX/XXXX I opened an account at US bank at the branch located at XXXX XXXX XXXX XXXX, XXXX XXXX, CA XXXX with the promotion code XXXX indicated in the promotional letter. 
On XXXX XXXX XXXX XXXX I transferred or deposited in person {$100.00}, then, {$500.00}. and last {$4500.00} from my XXXX account, effectively bringing the account balance to {$5100.00} The following XXXX transactions were made, deducted, from the account : XX/XX/XXXX {$30.00} XXXX XXXXe ( U.S. bank debit card enrolled ) XX/XX/XXXX XXXX {$19.00} ( U.S. Bank debit card used ) XX/XX/XXXX XXXX XXXX {$6.00} ( debit card ) XX/XX/XXXX XXXX {$18.00} ( debit card enrolled ) XX/XX/XXXX XXXX {$21.00} ( debit card enrolled ). 

In XXXX and XX/XX/XXXX, I called U.S. Bank Customer service and requested the {$500.00} bonus to be credit to my business account as I fulfilled the terms of the promotion and expected the U.S. to follow the terms of its offer. 
The promotion code was allocated by the customer service but, as of today, XX/XX/XXXX, I have not received the bonus from US bank. 
Between XX/XX/XXXX and XX/XX/XXXX, I sent multiple emails to XXXX XXXX Until today there is no bonus still. 
At first, the email from XXXX stated that " the entire team in the U.S. Bank working on this matter for him '', but then, after I called again in XXXX days, I received an answer that I didn't fulfill the requirements?! 
I called the US bank multiple times, went in person and emailed and called the State Farm agency as well, but to no avail. 

I consider the offer I received a binding business contract. 
I would have earned an interest on this {$5000.00} deposit at a different bank. Instead, U.S. Bank used my money for FREE under the false pretext of me not fulfilling the terms of the offer. 
The first excuse of the U.S. Bank from a U.S. Bank representative at the branch was that the transactions I made " didn't qualify ''?! and the second one, completely different one, was from XXXX, as he stated that the U.S. Bank issued this offer as an online offer ( his email to me on XX/XX/XXXX ). 

There was no indication on the first page of the letter ( including the three steps required for this offer ) of the online ONLY type of opening the account to qualify for the terms of the offer. 

Back in XXXX, Union Bank tricked me in the same way with no bonus and used my funds for free. It seems this type of fraudulent business practice has gained popularity among the banks and goes unpunished by regulators. 

I fulfilled my side of the contract. I opened an account and kept the money there. 
I consider a failure to deposit the bonus to my account a breach of contract. 

Thanks for your help in this matter, XXXX XXXX, XXXX.

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