Consumer complaint received 2023-04-10
Company: U.S. BANCORP
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
On XX/XX/XXXX I signed up for US Bank 's XXXX XXXX checking account using a promo code XXXX. At that time, this promotion offered {$400.00} if I deposited {$3000.00} of new funds within 30 days of opening the account and keep it for 60 days, enrolled in online banking, and made 5 debit card purchases within 60 days of account opening. I have a screenshot of the offer page that show these terms, this promo code and that the offer is valid through XX/XX/XXXX. There is also a contemporaneous blog post that noted on XX/XX/XXXX that this same promo code had extended its expiration date to XX/XX/XXXX. 

I was approved and opened a XXXX XXXX checking account on XX/XX/XXXX. I've completed all the three offer terms above ( other than needing to wait a few more days for my $ XXXX deposit of new funds to have been maintained for a full 60 days ). 

Today, I asked US Bank to confirm that I would receive my bonus as expected. They, however, informed me that their system showed that my promo code expired in early XXXX and that I was not eligible for any bonus. I responded that I had a screenshot of the offer and could prove that it was valid until XX/XX/XXXX on the day that I signed up for the account. But US Bank refused to investigate and instead asserted that I would have to wait at least 105 days from the deposit of my $ XXXX funds for them to even inquire as to my bonus status. 

This is ridiculous for two key reasons. 

First, my dispute is whether I am eligible for the {$400.00} bonus associated with the offer at sign up. US Bank confirmed it believes that the code was expired, but it was not. There is simply no reason to delay resolving this issue and reviewing my clear proof that the offer was not expired and that I am eligible for the bonus. 

Second, this is clearly an attempt by US Bank to force me to continue to abide by their offer terms when it seems like they have no intention of honoring the bonus. By refusing to confirm that I'm eligible for the bonus, they are placing me in a catch-22. I either keep my funds there for another 45+ days to satisfy the terms of my offer ( even though US Bank won't award the bonus based on their system glitch ) or I withdraw my funds now given their bad faith actions but give them an excuse to say I didn't complete all the required terms of the the disputed bonus. It is ridiculous that that US Bank can refuse to confirm bonus eligibility for entirely nonsensical and arbitrary reasons. 

I will note that my husband signed up for the same account in late XXXX. He too had issues with US Bank refusing to honor its bonus and was only awarded the bonus he earned after 5+ calls with different agents ( all of whom agreed the conditions had been met ) and filing a complain with the CFPB. 

I should have known better than to bank with them again after that experience. So I am submitting this complaint to get the CFPB involved as soon as possible to avoid another long protracted battle over US Bank honoring its checking account offers. I suspect others have been similarly mistreated and would hope that they are made whole too.

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 non-monetary relief