Consumer complaint received 2024-04-23
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: PNC Bank N.A. (TX)

Thank you for the attention, what happened as follows : On XX/XX/2024, I opened a new bank account at PNC Bank at the branch located on XXXX XXXXXXXX XXXX, XXXX XXXX, Texas. The objective of opening a new account was to be able to receive a payment from a corporate client. 

On XX/XX/2024, I received an email from my client that his bank, XXXX XXXX, would be sending the payment funds to my new account at PNC Bank. That same day the transfer was credited to my account. 

The next day, XX/XX/2024, I went to the PNC Bank branch located on XXXX XXXX to make four ( 4 ) transfers. Three ( 3 ) of them to pay my suppliers and one for an account of my company. 

Later, on XX/XX/2024, XXXX of my suppliers told me that the transfer had not arrived. 

That same day I checked through my online PNC Banking banking access, and found that two ( 2 ) of the four ( 4 ) transfers had not been made and that my account balance was blocked. Therefore, on XX/XX/2024, I called PNC Bank customer service to ask why two ( 2 ) transfers had not been completed and to find out why my account had a blocked balance. 

The PNC Bank customer service explained to me that my account was under investigation by the fraud area and that they were going to ask me some questions, if I agreed to answer and I said yes. Shortly they transferred the call to another person and asked me questions which I answered. After answering these questions they asked me if I could send documents that supported my answers, I also answered yes to that request. 

Finally, in this call they explained to me that the investigation would take 30 to 60 days and that after that period they would give me a response. So I commented that I understood and respected the bank 's processes but I asked please if there was a way to shorten that time. To which the person told me that I could send a direct email containing the documents to the person in charge of the investigation to perhaps cut down the time. 

On XX/XX/2024, I proceeded to send him by direct detailing all the facts of my company 's project that led to me receiving said payment at PNC Bank. In said email I also attached the supporting documents that consist of more than 60 documents containing emails, quotes, purchase orders, invoices, sealed delivery letters, photographs of delivered equipment and identifications. 

Later on XX/XX/2024 ; I called customer service again and they told me that they they would have the result of the current investigation of my bank account in approximately five ( 5 ) days. 

On XX/XX/2024 ; I called customer service again to request the result of the investigation. The answer from the executive in the phone line was that the fraud investigation department would contact me to ask additional questions within a period of 60 days which of course surprised me even to the point to ask him again : How many days? he replied : 60 days. 

On XX/XX/2024, I proceeded to contact XXXX XXXX XXXX from the Retail Support department to ask her for help on the real status of the investigation of my account and to have an expectation of when I would have my account released. 

She was kind in the call and after contacting the area/person in charge of the investigation she told me that the blocking of my account was still under review and that there is no deadline for it to be concluded. Additionally, once the investigation is concluded within 60 to 90 days, the hold on my account will be released. 

Given the previous context I have the following observations : I have been respectful, collaborative and patient with the course of the investigation because I truly believe in PNC Bank 's corporate processes ; and this translates into the protection of my account. 

Nevertheless : 1. I have had my account blocked for 29 days without any access to my funds.

2. The expectation of a specific date of the day when a result will be issued and my account will be released : Does not exist.

3. Although the PNC Bank staff who answer calls do so in a good manner, I find PNC Bank 's stance somewhat lax in relation to the financial damage caused to me by not having access to any of my funds.

4. After several calls with customer service, retail support and the fraud investigation department I have a vague answer about : a. The investigation does not have a deadline.

b. When was the accurate date the investigation start?

b. Does the investigation last 30 to 60 days?

c. After completing the investigation, will my account be released within 60 to 90 days?

d. Are there any additional specific questions for the investigation?

Therefore, my complaint against PNC Bank goes for : 1. The opacity and inconsistency in the communication received from customer service, retail support and fraud investigations.

2. Unjustified Hold of Funds : The bank has placed a hold on my account for 29 days without providing a clear reason or adequate justification, causing a significant inconvenience to my daily financial transactions.

3. Lack of transparency : The bank has not effectively communicated the details of the ongoing investigation regarding my account. The lack of transparency has created confusion and frustration, as I do not have clear information about the status of my account.

4. Financial and Emotional Harm : The prolonged withholding of my funds has caused considerable financial harm, including potential late fees and lack of access to necessary resources. Furthermore, this situation has generated emotional stress and XXXX due to uncertainty about the destination of my funds.

5. Non-compliance with deadlines : Despite the deadline guarantees provided by the bank to resolve the situation, the retention period has significantly exceeded the established limit, which demonstrates a lack of compliance on the part of the bank and a lack of respect towards its clients.

6. Impact on credit standing : Prolonged hold on my account and lack of prompt resolution may have a negative impact on my credit history and my ability to access financial services in the future. This is especially concerning given that I am a customer in good standing with the bank and have never been involved in fraudulent activity.