Consumer complaint received 2022-10-25
Company: CULLEN/FROST BANKERS, INC.
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I have been a customer with Frost Bank for almost for years and until today the customer service has been outstanding. I initially opened 3 accounts in XXXX, 2 joint accounts with my wife and an individual account. Due to unforeseen circumstances 2 of the accounts became overdrawn and eventually charged off. I immediately made payment arrangements for them both as I did not want this issue to affect my banking relationship with Frost. The first account was paid in full in XXXX of XXXX and to my knowledge the second account was paid off by XXXX of XXXX. This was confirmed by a Frost representative at that time. 

Fast forward to XX/XX/XXXX. To date I have a good relationship with the bank and 2 personal accounts, a savings account, and a business account. All of which I have had for the last 2 years. I stopped by the local branch at XXXX XXXX XXXX in XXXX XXXX, TX on XX/XX/XXXX, as I always do to open another business bank account for my new venture. I spoke with XXXX, who has always been a very helpful, to get the process going. Upon his findings, he advised me that I had 2 charged off accounts and he would have to speak with the charge off department to see if he could proceed with opening a new account for me. He asked if I wanted to wait, or he could call me when he has an update. I asked that he contact me when he has an answer. I spoke with XXXX on the morning of XX/XX/XXXX, to find out that an additional account could not be open until the charged off accounts were satisfied. He stated that he spoke with XXXX in the charge off department and I needed to speak with her by XXXX or my accounts would be closed. 

I reached out to XXXX in the Charge off department at XXXX. I advised what I was calling for and she confirmed that there were 2 charged off accounts and should not have been allowed to open any additional accounts until those were satisfied. She confirmed that my savings and individual account were opened online, however, the business account was opened in the branch in XX/XX/XXXX. I explained to her the account from XX/XX/XXXX should have been satisfied per the representative I spoke with in XXXX of XXXX. She said there was only one payment of {$78.00} that was made on the balance and there was no record of additional payments, and this account was transferred to a third-party XXXX XXXX XXXX and I would have to speak with them as she could not take payment or make arrangements on that account. She then confirmed an account had recently charged off this month as well. I explained that there was a disputed charged from an unauthorized merchant that still needed disposition. She then stated the dispute was closed out because I had not provided documentation that was requested via mail. I advised her that I did not receive any correspondence but was willing to make payment arrangements. We began discussion for payment arrangements of {$65.00} per month beginning on XX/XX/XXXX, to be debited from my individual account. I had to attend a meeting and ask XXXX if I could call her back and she agreed. 

After my meeting I called XXXX back and her mood totally changed. She immediately said that she had offset {$770.00} from my savings account to satisfy the two charged off accounts. When I asked how she could do that, when on the previous call she said she had no access to the oldest charge off account. She proceeded to tell me she had the authority to do so and offset the payment. I immediately told her that could not happen as I am trying to save all the funds I can because my company is cutting hours and possibly downsizing. She didnt care and said if I wanted to keep the accounts open that is what needed to be paid otherwise, she could give me a partial credit and close my accounts immediately. I asked her why I am being penalized for Frost banks oversight in allowing additional accounts to be opened when there are charged off accounts recorded. That should not affect my business accounts as that was Frost Banks oversight and this could have been avoided just as XXXX noticed it on XX/XX/XXXX. She still did not care and showed no compassion as previous representatives had when it came to other issues I had. She proceeded to refund me {$350.00} and allowed me to transfer that amount and the remaining small amount from my savings to the remaining joint account. I continued to express the unfair treatment and asked to speak with her manager by she refused. I told her this is not the end as I will bring light to this on every platform, I can find including legal action. 

I then called XXXX to advise him of my ordeal with XXXX and he was stunned as well. He stated that it was his understanding that if the oldest charge off account was paid that you should be allowed to keep your accounts but not open additional accounts until all balances were paid. He stated that he would try and reach out to XXXX as well as speak to his manager and he would call me back. 

I am looking to have my accounts restored as this will surly ruin my ability conduct business in the future. I feel that I should not be held accountable for Frost banks mistake in allowing accounts to be opened with charged off accounts on record.

Company response to consumer: Closed with explanation