Consumer complaint received 2019-03-04
Company: SANTANDER BANK, NATIONAL ASSOCIATION
State: MA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I recently opened an account with Santander, experienced some fraudulent activity through no fault of my own, and had my account closed. Communication throughout the entire experience was terrible, and {$5.00} of my money was never returned to me. 

Back in XXXX, I received mail offering a {$400.00} dollar bonus if I opened a Santander checking account. I'd had some bad experiences with other banks, and was eyeing Santander anyhow, so I decided to give it a try. On XX/XX/XXXX, I opened a checking and savings account in branch. I had plans to open a business account as well, but was leaving for XXXX for two weeks, so decided to do that upon return. 

When I returned on theXX/XX/XXXX, I created an online account in order to transfer some money in and then set up direct deposit. I immediately noticed fraudulent activity which had occurred between the XXXX and XXXX. Someone had apparently deposited a bad check and withdrawn money from the ATM. Presumably they got ahold of my new ATM card somehow - it never arrived in the mail. As I had a mail hold from XX/XX/XXXX until XX/XX/XXXX, this would have had to be at the post office or at Santander itself. I called Santander to report this. They froze the account, saying I would receive results of the investigation in the mail. I eventually received a letter stating that the fraudulent charges were reversed. 

After the holidays, I called in to see if I could get another ATM card. After a lot of waiting, I was told that the whole account was now determined to be a fraud risk, but if I went to a bank I could close it and reopen. I was also told that the {$5.00} returned item fee from the bad check would be refunded. Upon going to the bank and attempting to do so, I was told that Santander would not allow me to open another account, and would in fact not refund that fee. I did leave with a check with my other money, but with quite a bad taste in my mouth. The banker was great, but it sounded like the person on the other end of the phone was telling him the bad news.

This fraud was very clearly not my fault, yet I was punished for it. I probably wouldn't have written this letter were it not for the {$5.00}. It's not a lot of money, but it's the principal of the matter - there is no reason Santander should not have given it back to me. The reasoning behind not restoring my account is also very suspect. I was told that some people open accounts in order to do this sort of thing, but that was clearly not the case - I both wasn't in the country, and had a mail hold so couldn't possibly have received the card. The banker even admitted it clearly wasn't me, but said that whoever was on the phone didn't care. All in all, I am very disappointed in Santander. I was looking forward to a new bank, but instead got a giant mess that cost me a lot of time - and {$5.00}.

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 explanation