Consumer complaint received 2022-02-22
Company: U.S. BANCORP
State: IL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
My name is XXXX XXXX. On XX/XX/2022 I deposited XXXX XXXX XXXX money orders in the amount of {$500.00} into my personal account via US BANK XXXX APP. I usually utilize the branch window or ATM Deposit option but thought the mobile app would suffice. They immediately gave me access to {$500.00} while the other " cleared '' or flagged for random audit so they claimed. By Wednesday XX/XX/2022 upon checking my personal checking account a HOLD was placed soon after both money orders were supposed to be cleared. I contacted the US BANK Corporate 24hr Banking who then disclosed my account was under review due to " irregular activity '' I've had my personal checking and business checking with this bank for close to 2 years without any issues or " fraud '' related activity on my account. 

I use XXXX XXXX Money Orders to pay myself a salary as an employee of my company bi-weekly between $ XXXX {$1000.00} with my name XXXX XXXX as the Payee and signed the back of each money order. I chose not to have checks with this account only my Not-For-Profit account. I then called XXXX XXXX XXXX to track my money orders and XXXX XXXX confirmed my money orders were cashed on Tuesday XX/XX/2022. The same day both money orders were deposited ; yet a hold was placed on my account on XX/XX/2022. My account has been on hold for 2 1/2 weeks as of XX/XX/2022. 

I was recommended to contact the main US BANK branch of where I opened my account originally and explain my situation. The branch manager was very nonchalant claiming although my bank statements didn't reveal any illegal activity related to fraud the Risk Department might have see otherwise. 

However, every time I called to speak with someone in the Fraud Department they claim to have minimal information and directed me back to the branch manager. Once again I speak with the same branch manager and he claims he has submitted a REQUEST TO REMOVE HOLD from my account. He claims he can only submit the request but it's up to the Risk Department to honor the request. I'm being tossed around the banking system like my concerns don't matter or my issue of not accessing my funds is a bother to their day. I continue to get passed around the US BANK system with no resolve to my issue or access to my funds as of today Tuesday XX/XX/2022. 

On Tuesday XX/XX/2022 I received a letter from US BANK that they started to process of closure of my personal checking account. So let me understand this correctly, the bank puts my account on hold due to a deposit of XXXX VERIFIED money orders yet they claim both money orders couldn't be verified now they are attempting to close my account. As a consumer I have yet to receive evidence or documentation of the legitimacy behind closing my account. The lack of communication on US BANK part is causing my business to suffer for the past 2 1/2 weeks. I have auto-bill pay set up for my business accounts and due to the bank authorizing a hold on my personal account my business accounts are being reported as late payments or returned. This is unacceptable because I've never been late on my business credit. 

This is a form of discrimination for a business woman of XXXX. As soon as my income increases in my business revenue starts to reflect in my bank statements that includes a paper track-record now it's being " questioned ''. Not once have I had this issue with US BANK in the past. Their business practices are unethical along with the intentional sabotage with no valid reasoning. I will be retaining a lawyer for this issue. 

I refuse to allow US BANK to get away with this new age racism against people of XXXX trying to change the trajectory of their families on a mission to build generational wealth. I understand fraud is real. However, my character and actions speak for itself. I would never jeopardize my Not-For-Profit organization of 6 years for a {$1000.00} deposit. Once this is settled US BANK will lose another valuable customer due to their inadequacy.

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