Consumer complaint received 2023-03-22
Company: SYNCHRONY FINANCIAL
State: TX
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Unbelievably difficult to get claim paid for a CD that I am the beneficiary for... 
My mother died on XX/XX/XXXX at age XXXX. She had money in 5 banks and I dealt with all of them and they each had their own nuances but Synchrony bank stands out. When I contacted them they said that first thing was to submit a copy of the Death Certificate, USPS. Only one of the 5 banks that would not allow email. They said to call in 7-10 business days after putting the DC in the mail, that they would not contact me. When I asked if there was a way to get it faster, they said that I could have it sent to a separate address if there was tracking. I sent it tracked and called the day after it was delivered and they said that it takes days to get it logged in. ( BTW wait times were typically around 45 minutes when I called. ). I finally sent it again requiring a signature. Couldn't find it again even though there was a signature for the delivery. Finally I complained and they mentioned that I couldn't email, but could fax. I got a fax account online and started faxing. Faxes were not lost and typically logged within 2-3 business days. Their SOP is to USPS mail the forms we needed to have notarized and filled out, but once they had the death certificate they DID tell me which forms we needed and where to find them online. Things were going better with faxing now. Still long wait times on the phone. Still days after faxing to get it into the system, but finally they said it looked okay and was in review, but could not even estimate how long it would take. I called yesterday after about two weeks and they said it had been reviewed and next step was to USPS mail my check, but again no expectations of when that would be. I said it needed to be tracked and they said that if it was over $ 100K that it would be XXXX. That was yesterday. I logged into Mother 's account this morning and saw that they account was closed yesterday and a check had been issued ( over $ 250K ). I called again and this time they said that it was sent regular mail, no tracking. And note that they didn't even inform me that the check was mailed. I had to ask. So now if I don't see the check by XX/XX/XXXX I can call back and they will send me another form to fill out for lost check. Still no email. They might send the replacement check XXXX. I will say that all of the CS agents were pleasant, not very knowledgeable, but courteous. It's the system that's so unbelievable broken. I have the checks from all the other banks and have had for some time. I don't know if Synchrony Bank doesn't focus on this aspect of their business or are trying to hold on to the money as long as they can. I will NEVER do business with Synchrony Bank again. They were fine when Mother was alive, but this is a nighmare. I have yet to be contacted by them, even to tell me the check is in the mail. I want this complaint to reach someone who can review the process. It's hard enough when a family member dies to begin with, without having to deal with this sort of insane proces

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