Consumer complaint received 2018-07-24
Product: Checking or savings account — Other banking product or service
Issue: Closing an account — Funds not received from closed account
Company: FIFTH THIRD FINANCIAL CORPORATION (OH)

Re Fifth Third Savings & Checking Accounts : I used a XXXX coupon to open checking & savings accounts with Fifth Third Bank. The initial communication took place over the phone on XX/XX/2018, providing the " offer code '' from the XXXX  coupon. The XXXX  coupon ( attached ) offered {$250.00} for opening a savings and {$250.00} for opening a checking, with specific terms. I completed the paperwork, sent the funds on XX/XX/2018, account was opened XX/XX/2018. On XX/XX/2018, I visited the branch at XXXX XXXX XXXX, XXXX ( XXXX ) XXXX. I spoke with XXXX XXXX, Manager, to close my accounts. Mr. XXXX processed the request with a cashier 's check for {$15000.00} : {$15000.00} initial deposit into savings ; {$250.00} initial deposit into checking, and {$250.00} to fulfill 1/2 of the XXXX XXXX offer. This was {$250.00} short based on the offer " get {$250.00} when you open a Fifth Third checking account '' plus " get another {$250.00} when you open a Relationship Savings Account. '' I unequivocally met offer qualifications but Mr. XXXX could not explain or resolve the deficiet. He stated the " paper '' received when the account was opened was required. I asked him if there were other " screens '' to view to validate my offer. He said " no, there is just one offer code stating {$250.00}. '' On XX/XX/2018, I provided the " paper '' and coupson. Mr. XXXX stated he had to process my issue through the disputes channel. XX/XX/2018, Mr. XXXX informed me the issue was resolved but required a Regional Manager sign-off. I later received an email stating the funds were approved for deposit into the account. 

On XX/XX/2018, I went to the branch. I received the {$250.00} and closed the accounts. 

My concern is there is an internal, purposeful process to reduce the liability owed to customers. The {$250.00} deposit for opening the savings should have been deposited after the deposit of {$15000.00} was maintained for 90 days in additional to meeting terms specified for the checking account. This deposit did not occur even though all conditions were met. Worse yet, Mr. XXXX had no means to validate I was owed the {$250.00} UNLESS I provided the paperwork ( attached ). I believe this is a form of theivery. The {$250.00} were my funds once I met the terms ; yet, the funds were refused unless I did the footwork to prove the funds were due. 

I submit this complaint so if this occurs to others who also submit complaints, the bank can be held accountable for not meeting it's obligation unless and until the member proves their standing. I should not have had to prove the funds were mine. If I had misplaced the paperwork, would the bank have refused to provide the {$250.00} that was officially my money after meeting the terms on the coupon? 

I hope you can hold this bank accountable if this is a recurring episode. I believe it's an intentional " mistake '' as many people would not have followed-up. The bank is then rewarded by their lack of sufficient documentation.