Consumer complaint received 2018-12-23
Company: AMERICAN EXPRESS COMPANY
State: OH
Product: Credit card or prepaid card
Sub-product: General-purpose prepaid card
Issue: Problem getting a card or closing an account
Sub-issue: Trouble closing card

Complaint:
To the CFPB : On XX/XX/18 I was notified via email that American Express Serve had closed my re-loadable prepaid account, which had funds totaling {$990.00} remaining in the account. I attempted to login to my online account to withdraw my remaining funds, however, my online account was deactivated, preventing me from accessing my funds. I then called American Express Serve customer service and was informed that the account was indeed closed by the issuer, and also that the funds had not been refunded to the original payment methods or issued to my mailing address via check. I then requested to speak to a supervisor to assert my rights to have my funds promptly refunded to me. The supervisor proceeded to tell me that she is unable to do anything and that another representative will need to get back to me sometime at a later date, meanwhile American Express Serve will be holding onto the funds. I expressed my dissatisfaction with that response and requested an exact timeframe for the refund and for when I would be contacted by the next representative, but the supervisor did not provide a timeframe or provide tangible steps for when the refund would take place. I am seeking the CFPB 's assistance to have my funds returned to me immediately in response to this illegal and unethical confiscation of my funds totaling {$990.00}. 

American Express Serve is a reloadable prepaid account. One of the participating retailers where customers can load their account is XXXX XXXX. In compliance with the terms and conditions of the account, I loaded {$490.00} ( via Visa card ) to my account on XX/XX/18 at XXXX XXXX and then loaded {$490.00} ( via Visa card ) to my account on XX/XX/18. In both instances the transactions were successfully approved at the cash register, and I also received confirmation emails from American Express Serve confirming that the loads were successful and that the funds were in my account. I completed my transactions at a participating retailer using a permitted payment, yet American Express Serve unilaterally decided to immediately close my account and not allow me to withdraw my funds. As of approximately XXXX XXXX EST on XX/XX/18, American Express Serve has closed my account, prevented me from accessing my account to withdraw the remaining funds totaling {$990.00}, and has not issued a refund of my funds or provided an exact timeframe for when the refund will be received. Additionally, I have reviewed the transaction records for my Visa cards ( which were used to load the account ) and have verified that the funds were successfully transferred to my American Express Serve account. In sum, American Express Serve is currently holding onto my funds and not returning them to me ( despite my requests ) which I believe constitutes theft and is egregiously illegal. I am seeking the CFBP 's assistance to investigate this matter so that I may receive my {$990.00} immediately.

Company response to consumer: Closed with explanation