Consumer complaint received 2023-05-10
Company: ALLY FINANCIAL INC.
State: VA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
As an existing Ally Bank customer, I was excited when I heard about their 1 % cash bonus offer for moving money to an eligible account. The offer promised a cash bonus of up to {$500.00}, which was a significant amount for me. I immediately decided to take advantage of this opportunity and transferred {$50000.00} from an external bank account to one of my Ally Online Savings accounts, which was eligible for the bonus. 

I eagerly waited for the bonus to be deposited into my account. However, when I checked my account on XX/XX/XXXX, the day when the bonus was scheduled to be credited, I was surprised to find that Ally Bank had not credited the full bonus amount into my account. Instead, they had only credited {$410.00} to my account, even though I was eligible for the full {$500.00} bonus. 

Feeling frustrated and disappointed, I immediately contacted Ally Bank and opened a case to address the issue. The customer service representative assured me that the case would be reviewed and resolved within 5-7 days. However, after waiting for several weeks, I still hadn't received any updates from Ally Bank. 

Feeling concerned about the lack of communication, I decided to follow up with Ally Bank. Unfortunately, the responses I received were not helpful. They informed me that my case was still being reviewed and that they could not provide me with any timeline or updates. This only added to my frustration and XXXX  about the situation. 

As days turned into weeks and weeks turned into months, I found myself becoming increasingly frustrated with Ally Bank 's lack of progress on my case. I had provided all the necessary information and met all the requirements for the bonus, yet I was not receiving the full amount. It was extremely frustrating, and I felt like my concerns were not being taken seriously. 

After waiting for 91 calendar days, which was 64 bank working days, I contacted Ally Bank again to express my concerns. I was hopeful that my case would finally be resolved, but I was disappointed to receive the same response as before - that the case was still being reviewed, and they were unable to provide me with a timeline. 

The lack of progress and communication from Ally Bank was frustrating, and I was losing faith in the bank. I had been a loyal customer for a long time, but their handling of my case made me feel like my business was not valued. I was starting to wonder if I should take my business elsewhere as this whole experience left me feeling frustrated and disillusioned with Ally Bank. 

In conclusion, the lack of communication and slow progress on my case was frustrating and disappointing. I had met all the requirements for the cash bonus, yet Ally Bank failed to credit the full amount into my account. Their lack of responsiveness and failure to provide me with a timeline or updates left me feeling frustrated and uncertain.

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