Consumer complaint received 2024-09-14
Product: Checking or savings account — Checking account
Issue: Managing an account — Fee problem
Company: PNC Bank N.A. (MD)

On Sunday, XXXX I called the fraud department to report fraud in the amount of {$1000.00} and was told that I had to wait for it to hit my account before I could claim fraud. I thought this is a strange practice, but OK. 
In the meantime, I called the police to report the crime and called the bank back to give them the police report number at which time, I was told to call back on XXXX  XXXX. I asked the attendant to document the call and police report number ; she did. On Tuesday, after the charge hit my account I called back to report the fraud again. The attendant told me that she had seen the notes from my previous call and she also documented what happened, she stated there would be an investigation and the funds would be deposited back into my account. 

As a former fraud investigator I can honestly say that I have NEVER, EVER heard of a person calling to report fraud and was told that you have to wait for the fraud to hit your account first before we can do anything. That sounds absolutely insane. This seems counterintuitive and nonproductive. Thats like a person coming in to rob the bank and you say let him leave with the money first before you hit the alarm. Who does that???? You sound the alarm as soon as possible. When I was a fraud investigator the minute a person called in to report fraud we would automatically shut down any/all accounts suspected of fraud. The only transactions processed were those familiar to the account. The PNC policy just doesnt make sense to me. 

However, I called back on XXXX  and the report number was taken again. Approximately 3-4 days later when checking my account I noticed that the monies were not refunded and I incurred a high number of overdraft fees totaling approximately {$350.00}. I called customer service back to see what was going on and was told that the transaction was not only legitimate but I would not be getting any funds retuned and I was also responsible for all of the overdraft fees. 

As of today XX/XX/year> the XXXX XXXX account that I held was charged in excess of approximately {$1500.00} and has been closed. 

Most recently on XX/XX/year> I sent a letter, registered mail to XXXX XXXX XXXX of PNC Bank providing information of my findings in doing research on The Electronic Transfer Funds Act ( EFTA ) 15 U.S.C 1693 that states ; that if timely notice is given to the financial institution that there is a limitation on liability and that the ( ii ) consumer may notify the institution in person, by telephone or in writing. ( 12 CFR1005.6 ). 
( b ) Limitations on amount of liability ( 1 ) Timely notice given. If the consumer notifies the financial institution within XXXX business days after learning of the loss or theft of the access device, the consumers liability shall not exceed the lesser of {$50.00} or the amount of unauthorized transfers that occur before notice to the financial institution. 
( 12 CFR1005.6 ). 
( iii ) Notice may be considered constructively given when the institution becomes aware of circumstances leading to the reasonable belief that an unauthorized transfer to or from the consumers account has been or may be made. 
I have asked XXXX XXXX XXXX to be made whole again and my request or acknowledgement as a consumer have been ignored. 

I have taken all the proper channels to not only report the crime but provide the police report number and all requests of my then financial institution. My requests were not handled properly and PNC made me a criminal instead of a victim of an electronic crime and identity theft.