Consumer complaint received 2019-08-28
Company: BMO HARRIS BANK NATIONAL ASSOCIATION
State: IL
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I signed up for a savings account promotion ( Promo Code XXXX ) that provided if I deposited {$10000.00} for 90 days I would receive a bonus of {$200.00} within 120 days of opening the account. I opened the account on XX/XX/XXXX, set up an external transfer account ( via verification of trial deposits ) and attempted to move the {$10000.00} to the account on XX/XX/XXXX. However, even though my external account was verified, there was no way to transfer the funds to my savings account ; the funds could only be transferred to a checking account. 

I called customer service and they said that I was unable to transfer funds directly to a savings account because of the limit on withdrawals ( this made no sense to me since I was transferring money into the account not transferring it out ). Regardless, the agent I spoke to ( XXXX XXXX, direct line : XXXX, NMLS XXXX ), said that I could transfer the funds to my checking account first then transfer them to my savings account and it would still constitute new money for the purpose of the promotional bonus. I did this in two transactions of {$5000.00} each into the checking account ( which were completed on XX/XX/XXXX and XX/XX/XXXX, respectively ), since there was a {$5000.00} limit in transferring the money into my checking account at that time. I then transferred the full {$10000.00} into my checking account on XX/XX/XXXX. 

120 days after the account was opened on XX/XX/XXXX, was XX/XX/XXXX, which was a Saturday. I called the general customer service line for the bank on Monday, XX/XX/XXXX at XXXX XXXX Central Standard Time ( " CST '' ) and was told that promotional bonus distributions are made on Tuesdays. When the bonus was not deposited on Tuesday, XX/XX/XXXX, I called back on Wednesday, XX/XX/XXXX at XXXX XXXX CST and was told that I would not receive the bonus because the funds came into the savings account from the checking account. 

At this point, I called XXXX XXXX directly on Wednesday, XX/XX/XXXX at XXXX XXXX CST, left a message, and actually spoke to XXXX at XXXX XXXX CST that morning. XXXX told me that I should receive the bonus as the funds did constitute new money. He escalated the case to his manager that day ( record number XXXX ). 

I have called several times over the past two weeks and there has been no further development. I called and left messages for XXXX on Monday, XX/XX/XXXX, at XXXX XXXX   CST, Tuesday, XX/XX/XXXX, at XXXX XXXX CST, and Wednesday, XX/XX/XXXX at XXXX XXXX   CST. After it was clear that XXXX was no longer responding, I spoke to XXXX XXXX ( NMLS XXXX ) on Thursday, XX/XX/XXXX at XXXX XXXX CST and she told me that the escalation team had approved the promotional bonus and would be deposited by today, Wednesday, XX/XX/XXXX. 

When I did not receive the bonus, I called back in to check on the status at XXXX XXXX CST today, Wednesday, XX/XX/XXXX. I was transferred to customer service, and spoke with an agent ( " XXXX XXXX '' ) who told me that the reason my case was escalated was because the {$10000.00} was not deposited on the day my account was opened ( this is not a requirement in the terms of the promotion and the online account application offers two funding options : by check and by transferring funds from a bank account ). XXXX told me that the escalation had not been approved and there have been no further developments despite my multiple calls and attempts to move this along over the past two weeks. XXXX and I reviewed the terms of the promotion and she agreed that I had met the requirements and did not understand why the case had to be escalated. I left a message for XXXX, since what XXXX told me directly contradicts what she told me last week, but have not heard back yet and frankly, do not expect to hear back given how I have been treated so far. 

I also spoke to XXXX XXXX supervisor ( " XXXX '' who would not give any identifying information other than that she was the only XXXX in the two contact centers the bank has in Illinois ). She confirmed the information XXXX provided and said there was nothing for me to do at this point but wait for the escalation to be approved. 

Just the calls this morning took up over an hour of my time. I am extremely frustrated and disappointed in the bank 's lack of consistent responses and failure to adhere to the terms of their promotion.

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 monetary relief