Consumer complaint received 2021-09-20
Company: FIFTH THIRD FINANCIAL CORPORATION
State: MI
Product: Checking or savings account
Sub-product: Savings account
Issue: Closing an account
Sub-issue: Can't close your account

Complaint:
In XX/XX/XXXX I sought help to rebuild my credit from Fifth Third Bank at XXXX XXXX XXXX XXXX in XXXX. I explained to their associate, XXXX XXXX, that I had perfect credit for 30 years, but had been forced to short-sell my home during the housing crisis, and beyond the credit damage that caused, the loss of earnings, equity and retirement resources has caused me to struggle ever since. 

Ms. XXXX recommended I open a savings account and checking account, and use the combined funds to obtain a " secured '' credit card. The card provided a {$1500.00} credit limit, and the minimum amount that would need to remain on deposit was the same. She said that after a year of good payment history, the bank would then issue me a normal credit card, and allow me access to my deposit. 

A year later after making all my payments on time, and with a XXXX balance on the card, I asked Ms. XXXX to allow me access to my savings and issue me a normal credit card as agreed, She said she couldn't comply because of the pandemic. Eight months later, in XXXX of XXXX I asked again for my savings to be released, but she said the bank had raised their standards to obtain a normal credit card, so still couldn't comply with the original promise. At that point I told Ms. XXXX to close all 3 accounts, and I would be in to pick up my money. Fifteen minutes later the branch manager, XXXX XXXX, called me and advised me against closing the accounts. She said it would damage my credit ( the exact opposite of why I went to them in the first place ), so I reluctantly agreed to leave the account open. The following week I easily obtained a normal credit card from another institution, so I called XXXX XXXX again on XX/XX/XXXX and told her to close all 3 accounts. Again, XXXX XXXX called me back and warned me that closing my accounts with XXXX XXXX would damage my credit, but I told her to proceed anyway. At that point she advised me to come to the branch, pay the balance of the card to zero ( the balance was only {$10.00} ), and she would proceed with closing the accounts. I did as she asked within 15 minutes, paying the balance and surrendering the card at their drive through facility, where I asked the teller to please make XXXX aware of the transaction. She assured me she would. 

It is now XX/XX/XXXX, 33 days after I closed the account and surrendered the card, but today I received a statement from Fifth Third claiming I owe a {$24.00} annual fee. I called the bank 's toll free number, and they said they have no record that any action was ever taken to close any of my accounts. They said I could still not access my savings account, and although the branch would have destroyed my credit card when I surrendered it, that my full line of credit was still open and available for on-line purchases if someone were to obtain my information. They recommended allowing them to close the account over the phone ( which I did ), but said it will likely take another 30 days to be given access to my savings account. This is unacceptable. I've done everything I was told to do, and they have not done one thing they told me they would, and are refusing access my savings, and have even threatened to damage my credit further. I urgently request your assistance in this matter.

Company response to consumer: Closed with non-monetary relief