Consumer complaint received 2017-10-16
Company: DISCOVER BANK
State: KS
Product: Checking or savings account
Sub-product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-issue: Problem with renewal

Complaint:
As a trustee, I opened a 24 month CD account with Discover Bank on XX/XX/XXXX. Upon maturity, in XX/XX/XXXX, I decided to roll the total amount over to a 60 month CD. 

I did not receive notice of upcoming maturity as promised in the Account Agreement, which states " you will be notified approximately three weeks before your Account matures ''.
The money was then automatically rolled over for another five years.
This is not what I had intended to do with the money upon maturity.
I spent close to two hours on the phone with the bank on XX/XX/XXXX attempting to get answers as to what happened. When it became clear that a number of errors were made on their part, I requested to have my money returned penalty-free. I spoke with one representative and three managers, but had no luck convincing them to do the right thing. 

I then reviewed every piece of mail I 've received from them since the initial opening of the account in XX/XX/XXXX and attempted one more time, on XX/XX/XXXX, to resolve this issue before taking further action. As it happened, I was actually connected to one of the people I spoke to ( XXXX ) on XX/XX/XXXX ... but again, I had no success in getting my money returned to me penalty free, regardless of the fact that they did n't hold up their end of our agreement in notifying me prior to the CDs maturity date. 

They are claiming because they are able to pull up a copy of that notification in their digital file, that this means it was actually sent. They are also able to pull up a copy of the next notification, notifying me that the CD had rolled over for another 5 years which was also ... NOT RECEIVED! 

During the appx. 2hrs I had spent speaking with four different people on XX/XX/XXXX, I was told by the first representative that there was no address listed, so the automatically generated notices would have been generated but would have had no address for mailing. Additionally, I was told by all FOUR of them that a hold had been placed on my outgoing mail at some point. None of them were able to state the reason for this. The best they were able to do is " guess '' that they " may have received '' return mail from my address, which is one reason they might place a hold on outgoing mail. They are not, however able to find any evidence that this is what happened. 

I was also told that, somewhere along the way, a box became checked on this account that had my sister ( who is co-trustee ) as the mailing address, but that there is no address listed for my sister when you click on her name. I have contacted my sister and she has verified that she has not received any mail corresponding this account. 

I have continued to receive other mail ( i.e. XXXX form ) mailed to me ... with my name .... at the correct address ... .leaving me to wonder, was there truly a hold on my mail or was there not? 

I do n't claim to know what happened, but it 's clear that the bank made some type of error, if not multiple errors. I understand that mistakes happen, but I 'm not o.k. with the beneficary of the trust that holds this CD paying the cost of errors that were not his nor mine, while the ones in error are profiting from that error. 

Considering these facts .... 

1. The agreement promises advance notice of CD maturity ...
2. I stopped getting my annual statements and important notifications 3. There is no evidence that there was any good reason for holding my mail 4. The bank never bothered to try contacting me about the mail hold by : a. attempting to send another piece of mail to the listed address ... 
b. emailing me at the listed email address ... ( I have proof they have my correct email address ) c. posting a notice on my online account 's " inbox '' 5. I believe The CFR, part 1030 requires prior notification of CD maturity 6. I believe The CFR, part 1030 requires banks to comply with their very own printed Account Agreement.
... I believe it 's more than reasonable for me to expect that Discover Bank return to me the money from the CD, penalty-free.

Company response to consumer: Closed with explanation