Consumer complaint received 2016-09-23
Company: KEYCORP
State: WA
Product: Consumer Loan
Sub-product: Installment loan
Issue: Managing the loan or lease

Complaint:
A marine loan was obtained from Key Bank on XX/XX/XXXX to purchase a vessel. This loan has been in excellent standing the entire time as of today. An automatic payment service was set up to pay each amortization bill, starting with the first payment according to the loan terms and is still active as of today. There have never been late or missed payments as the system has kept a consistent scheduled payments automatically. 

On XX/XX/XXXX, I walked in person to the Key Bank Branch at XXXX XXXX XXXX XXXX, XXXX, WA XXXX. I was serviced by the branch manager, XXXX XXXX XXXX. I handed XXXX XXXX a cashiers ' check that I received as a family wedding gift and asked him to please add these {$2000.00} to the principal as a principal-only reduction payment. This {$2000.00} was in addition to my regular automated payments. 

XXXX XXXX proceeded to make the payment to my loan account and gave me the receipt, which I keep in my possession at this time. Transaction Tracking : CC # XXXX Seq # XXXX XX/XX/XXXX XXXX. Copy attached. 

The principal balance before the extra {$2000.00}, according to the attached XX/XX/XXXX Statement was {$87000.00}, and after the {$2000.00} the balance was shown as {$85000.00}!!! 

$ XXXX {$2000.00} = {$85000.00} so there was an immediate discrepancy of {$330.00} on the bank 's advantage. 

I called customer service on the same day XX/XX/XXXX after looking at my online balance and the bank agreed to solve the problem within 5 business days. Reference Key Bank call tracking number : XXXX and XXXX I continued monitoring my account and the principal balance has kept going up every day!!! Out of control. The Principal balance has been changing daily as follows ( record pictures of the online account status attached for reference ) : XXXX/XXXX/XXXX Before {$2000.00} principal reduction : {$87000.00} XXXX/XXXX/XXXX After {$2000.00} principal reduction : {$85000.00}!!! Error, should have been {$85000.00} XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} at XXXX XXXX/XXXX/XXXX {$86000.00} at XXXX XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} XXXX/XXXX/XXXX {$86000.00} How XXXX can a loan statement balance go up without any transactions??? 
On XXXX/XXXX/XXXX I checked my balance and records on the website, and the bank changed the records on the {$2000.00} deposit to make it look as if it were a {$1300.00} deposit instead. ( Records kept of all these bank unauthorized and illegal modifications before and after available for reference ) All automatic payments are still in place and I have n't changed anything while this investigation takes place as I do n't want to add any variables. The next automatic payment of {$630.00} took place on XXXX/XXXX/XXXX. This money was withdrawn from the paying checking account and shown in the payment records but not accredited into the balance!!! Not a single dime!!!! 
I have now talked to the branch manager ( XXXX XXXX ) in person, and over the phone ; I have called customer service 4 times and have gotten acknowledgment of the issue but no response!!!! 
I have recorded the latest conversation with the bank giving them a clear disclosure of record keeping prior to talking, this last call has a Key Bank tracking number as well : XXXX. The bank has agreed to correct the error but has done nothing about it. 
The bank has an " updated '' website that does not provide bank statements of Principal/interest payment breakdown information any longer. The iphone App has also gotten rid of any useful information. 
I have requested a paper copy of every statement and have walked to the bank branch in person to print my recent statements. This situations is unacceptable and needs to be rectified immediately. 
At this point in time, there 's a discrepancy of {$480.00} with an additional {$630.00} non-credited payment = {$1100.00} on the Bank 's favor!

Company response to consumer: Closed with explanation