Consumer complaint received 2018-06-27
Company: U.S. BANCORP
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-issue: Problem during payment process

Complaint:
This problem relates to my credit card with XXXX XXXX XXXX, linked to my XXXX XXXX account. The issue involves both entities. 

I have a {$32000.00} credit limit, and pay my balance in full each month. We are in the process of moving, which has meant a number of purchases in excess of our usual. For that reason, I prepaid a portion of my balance, {$7400.00} on XX/XX/XXXX. In order to do this, and to have it credited promptly, I did it by cash transfer from my XXXX account ; indeed, having the ability to do this was the reason I chose this card in the first place. The XXXX site showed the payment immediately, and the XXXX site immediately showed the amount as debited from my cash account. 

All was well until XX/XX/XXXX, when I noted that the XXXX site showed a " returned item '' of {$7400.00} ; interestingly, the XXXX account no longer showed the payment. I immediately called a representative. The first XXXX representative with whom I spoke simply said that the payment was denied, and that he knew nothing more about it. He was rude and unhelpful. I asked to speak with his supervisor. The supervisor was much more helpful, although he could not understand the problem. He then contacted XXXX, and I had a three-way conference call with representatives of both institutions. 

The XXXX representatives each blamed the other institution for the problem ; the only thing upon which they agreed that it was not my problem. Briefly, it appears that for the type of transaction I was undertaking XXXX required a different routing number. He agreed that this information was not on the XXXX site -- which, of course, shows the XXXX logo but is not strictly under XXXX control. With both representatives on the line, we then undertook a telephone transfer, which both representatives agreed was successful. I specifically asked the XXXX representative when the credit would show on my account, and he indicated the next business day. I made it clear that I would challenge any associated fees or penalties, and both agreed there there should be none. Both representatives agreed that their respective materials needed to better explain the process for this type of transaction. They indicated that they would be forwarding this information up their respective chains of command. 

By the next day, the XXXX site again showed the payment, and the XXXX site again showed a debit of {$7400.00} from my cash account. However, the XXXX site continued to show a {$0.00} credit available. This continued to be the case until today. In the meantime, I was unable to use the card -- a problem since we are over a XXXX miles from home and moving into a new residence! 

I called XXXX today and, of course, the representative with whom I spoke knew nothing of the foregoing. He simply told me that because of the " returned item, '' a hold had been placed on my account. He was unable to provide any additional explanation or assistance. He did indicate that as of tomorrow, the hold would be lifted and the credit again available. 

This has created a nightmare for me. Beyond this, I have been significantly disadvantaged, in that my cash account was debited immediately, yet the credit for the payment took over a week to finalize. 

It is curious that when it comes to marketing, XXXX and XXXX give the illusion of a seamless system ; indeed, the XXXX name appears only in small print, and everything is labeled " XXXX. '' Yet, when a problem like this develops, both entities insist on their independence, and blame the other for any confusion! 

If things go as promised ( a big " if '' ), I should be made whole by tomorrow. Yet, I believe that this snafu has uncovered a real problem between these entities, which has certainly caused by significant distress and real financial loss. 

I would appreciate your looking into this matter. Thank you very much.

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