Consumer complaint received 2021-11-18
Company: U.S. BANCORP
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Around five months ago, I opened a US Bank checking account at the XXXX branch inside XXXX. The employee who opened the account for me was notified this account was being opened due to me going through a divorce. It was an account for me to start over with after taking my half of the funds we had accrued On XXXX I deposited a check for {$55000.00} at the XXXX branch inside XXXX. I was told a 7 day hold would be put on the check, but I was given a printout showing specific dates where I would have access to specific amounts of moneyone of them being XXXX XXXX. I was told I had access to {$220.00}, of which I took {$200.00}. The next day I had a negative balance, with an over draft fee. I had to go to the bank to get that taken care of. Then the day XXXX was promised access to more of my own money cameXXXX, XXXX XXXX. I had a negative balance and XXXX available funds. Then I realized it was a bank holiday, despite the fact that it was printed and highlighted as a day I was supposed to have additional access by the bank itself. 
The next day I went back and forth on the phone with various employees after being very upset discovering I still had a negative balance. I was also told the back office had put an extended hold on my checkto the tune of another week. I had not been notified. I eventually spoke to the branch manager of the XXXX location, who I found was the employee who helped me, as she mentioned that. She stated she remembered my situation, and stated holds are often put on new accounts with no activity. Then she stated she and employees at that branch had tried to reach out to me multiple times but were unsuccessful, and had shredded my card. I dont recall getting but one phone call, but I had anticipated my card in the mail. I asked her what that had to do with my current situation, and felt she was trying to imply this was my fault, which she denied. 
I understood at this point that they would be holding my large deposit as long as possible now. Since Im in the process of switching to direct deposit, I deposited my paycheck in person. I was told a one day hold would be instituted, but that in the meantime Id have access to {$220.00}. Once again, I took out {$200.00}, checked the app afterwards and it showed I have a balance of {$26.00}. The next morning, I have a negative balance, and another overdraft fee. I call the bank, and they waive the overdraft fee, and state they havent received the funds yet, but if there is no stop or hold on the check, I should see my funds by today. I was notified by another banker that the same type of hold was put on this last check, but it didnt say how long it would be. Today I found that, once again, without notice, my second check is being held until the XXXX. Using this bank has brought me copious amounts of anxiety, and I hugely regret trusting them with my finances. Im so nervous due to being given false information that Im trying to put together back-up plans in case I dont receive my funds, and have started searching for legal counsel. This is truly the worst experience Ive ever had with a bank. Using a new account should never affect your mental health or affect your quality of life.

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