Consumer complaint received 2020-01-07
Company: COLUMBIA BANKING SYSTEM, INC.
State: OR
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
On XX/XX/XXXX, I opened a business checking account ( " Business Growth Checking '' ) with Columbia Bank at the XXXX branch location and provided the promotional offer code. The banker, XXXX XXXX, confirmed that the promotional offer was attached to my account. The full terms of the promotional offer have been included in the attachments. The relevant portions of the promotional terms state : " To receive the {$300.00} gift : 1 ) Open a Business Growth Checking or Business Relationship Checking Account, subject to approval, 2 ) Make at least one deposit of {$500.00} or more to the account within 15 calendar days of account opening and 3 ) Maintain an average daily balance of {$500.00} or more for the first 90 days after account opening. Limit one {$300.00} gift per qualifying account. After you have completed all the above requirements, we will deposit the gift in your new account in the three months following the 90-day review period. Accounts overdrawn or closed at the time of the gift fulfillment are not eligible for this offer. You must present this offer code at the time of account opening to qualify for the gift. Number of days used to determine gift eligibility will be calendar days. '' Given the promotional terms, I should have been credited the promotional gift of {$300.00} no later than XX/XX/XXXX, but I received no such credit, despite fulfilling all of the promotional terms. On XX/XX/XXXX, I phoned the banker at Columbia Bank 's XXXX branch about my missing promotional credit. She assured me that she would call back by the following day, but failed to do so. 

Today, XX/XX/XXXX, I contacted Columbia Bank and was connected to the aforementioned banker. She first claimed that I failed to meet the average daily balance requirement because my account had been opened on XX/XX/XXXX, but this is patently false as my XXXX statement shows an opening deposit on XX/XX/XXXX and I opened the account in-branch on XX/XX/XXXX. She then claimed that I did not meet the average daily balance requirement for the initial 11 days. However, the terms state that a deposit of {$500.00} or more must be made within 15 calendar days of account opening, so I do not see how the initial 11 days disqualify me from receiving the promotional credit, given that the average daily balance requirement includes the first 90 days. In fact, through my statements I calculated my average daily balance over the first 90 days since account opening to be approximately {$700.00}, and I provided the full calculation as an attachment. 

Ultimately, I have not received the {$300.00} promotional credit to my business checking account, despite fulfilling all of the advertised terms. As evidenced by the attached statements to my complaint, I made a deposit of at least {$500.00} within 15 calendar days of account opening to my qualifying account. I maintained an average daily balance of {$500.00} or more for the first 90 days after my account was opened. My account is neither overdrawn nor closed. 
Therefore, I believe I have fulfilled all of the advertised terms of Columbia Bank 's business checking promotion, and yet Columbia Bank has not held up their end of the agreement with me, their customer. I submit my complaint in good faith with the hope that no future customer of Columbia Bank will be deceived by their deceptive advertising and false promises.

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