Consumer complaint received 2021-04-12
Company: Chime Financial Inc
State: OR
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
XX/XX/XXXX, I contacted Chime for the second time to discuss the missing {$890.00} from my account. The call was documented and additional information was requested both via Chimes internal ticket tracking system, ( ticket XXXX ) and via my email requisitionthe same information as ticket XXXX. I was informed my email would submit a 2nd ticket in the system for the same information. To date, Chime has not complied with any requirementsof12 CFR Part 1005 - Electronic Fund Transfers ( Regulation E ) In an effort to resolve the issue quickly I have made the following calls to the bank XXXX XXXX 28 minutesXXXX XXXX 51, 57, 59, & 6 minute calls ; XX/XX/XXXX, 24,13, 7 total4.5 hours. I don't know if there are regulations regardingbank phone systems but repeatcalls were made due to Chime 's phone system dropping calls. Additionally, employees would only disclose first names, no operator, or employee ID, therefore when calling back only one time was I able to speak to the person I was just disconnectedwith. One agent informed me there are no outbound calls so if a call is dropped Chime considers that a resolved issue. 
The missing {$890.00} results from a pre-authorized charge XXXX performed XX/XX/XXXX. XXXX was replacing my XXXX covered by XXXX, they did a preauthorization but only make a charge if the damaged phone is not returned. I returned the phone the {$890.00} was never charged by XXXX and therefore XXXX can't refund the money. In talking with many different people I think I've come to understand the error. My XXXX XXXX visa card is a pre-paid card, when I make a purchase the money is deducted from my available balance. Chime transfers the funds to a ( for lack of better words XXXX holding account. Once my monthly bill is due funds are transferred from the holding account to pay the bill. 
XXXX places a pre-authorization hold on the {$890.00} funds.Chime transfers funds from my available balance to the holding accountXXXXThe pre-authorization disappears from my pending chargesbecause the transaction is not completed by XXXXChime either does not have an automatic process to revert the funds from the holding account to my available balance or the process malfunctioned. 

The interesting part was the totally inconsistent information I was provided by different people. 
-On 2 of the calls, the agent was able to spot the issues however both times- when they started to provide the solution the phone was cut off. 
-On multiple agents claimed XXXX had finalized the {$890.00} charge and needed to issue a refund. If that is an accurate statement, Chimes ' issues would be that the charge appears neither on the final XXXX statement nor viewable online. 
When I pointed out the lack of a {$890.00} charge on the XXXX statement, the agent responded I can see the transfer to XXXX with external data provided from Visa. The agent acknowledged the charge was not on my statement. I forget exactly what the agent said but I stopped him and said " Are you telling me is Chime does not have systems in place to accurately track financialtransactions? '' He responded " Yeah ''. Being XXXX  and wanting to make sure I understood I said XXXX want to clarify you are saying Chime does not have adequate systems in place, because if this is what you are saying this is major and needs to be reported to CFPB, FDIC XXXX ''. He responded 'yes that's what I'm saying we have a major problem. 'Multiple agents informed me the money had been deposited back into my account. 
- I had to point out they are referring to a transfer I made from the savings account to the XXXX XXXX account for the purpose of the pre-authorization vs a reversal of funds to my account. 
Additionally, the beginning balance - charges in XXXX - transfers out of the account+ deposits into the account do not equal ending balance.

Company response to consumer: Closed with explanation