Consumer complaint received 2024-09-25
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: PNC Bank N.A. (KY)

I deposited a Treasury check for {$260000.00} into my PNC Checking and Savings accounts XX/XX/year>. The funds were available the next day, however a hold was placed on my account XX/XX/XXXX for an unrelated matter. I was told that an investigation would take place and could possible take up to 40 days to complete. Anytime that I spoke with Executive Client Relations for PNC, I was given vague or incomplete answers about my account. Many of the representatives were very evasive and would not disclose their contact information to me to further investigate the matter. I disputed the matter to your company as well as the OCC. The OCC complaint is still open but my CFPB complaint was closed without any due diligence or follow-ups. In the response letter from the bank, PNC stated a specific date that my account would be closed and that the credits were requested back from the IRS. I have a Low Cash Threshold alert on my mobile banking. Even though I was unable to log into my account, I would still receive emails regarding my account balance insisting the account had never closed. I continued to get emails daily about my XXXX balance through XX/XX/year>, well after the date provided that my account would be closed and the credits returned, I continued to get emails. One of those more recent emails ( XX/XX/year> ) shown a positive balance where the credits were placed back into the account and 7 minutes later removed. I do have those emails as well as screenshots. Once the account was closed, it was stated to me in a letter and response to both of the complaints that the funds were requested back from the IRS and the account was closed. I was provided with a lead number to followup with the IRS regarding my credits. Once I spoke with the IRS around XX/XX/XXXX, the agent reviewed the notes, stated the credits were to be returned XX/XX/year>, and that the investigation could take up to 90 days from that date. I relentlessly called the IRS for further details over the next month but to no avail. Yesterday, XX/XX/XXXX, I spoke with an agent, XXXX XXXX ( ID XXXX XXXX ), for several hours only to discover the funds were never returned to the IRS as previously stated nearly 60 days prior! I am currently unable to conduct my business affairs, facing several financial hardships, unable to provide for my children and elderly parents, as well as having interests rates and penalties applied for money that was never returned. XXXX also stated the IRS never requested a return of the credits, but that PNC insisted a return but did not hold their end of the statement provided in their response letter or verbally. That letter also stated that the positive balance would be returned to me, not the IRS. There have been NO attempts to resolved this matter by any of the above mentioned parties and according to the IRS agent, those funds have yet to be returned with penalties and interests rates continuing to accrue. Furthermore, the statements that PNC have stated are completely false and they are continuing to profit from my credits while my family and business suffer!