Consumer complaint received 2022-01-11
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: AMERICAN EXPRESS COMPANY (TX)

On XX/XX/XXXX, I deposited a check in the amount of {$10000.00} to an American Express National Bank high-yield savings account. The check was issued by the Texas XXXX XXXX XXXX which was providing assistance for rent payments I had fallen behind on due to Covid-19. 

After an 11 business day hold was nearly concluded, American Express froze the account pending identity verification. After this was completed, the account was unfrozen and I attempted to transfer half of this money out in order to pay my landlord some of what I owe ( a portion of these funds were allocated for future rent payments that were not yet due ). My account was again frozen hours later. I received no communication informing me of this action. I contacted Amex the following morning and was told my account was closed. When I inquired on the reason for this, I was told that Amex spoke with someone at XXXX who had told them the check was not payable in my name, so they closed the account. 

At this time they instructed me to contact the check issuer ( XXXX ) for a resolution. I have spoken to 5 employees at XXXX over a 2 week period, all of which had no idea why Amex was saying the check wasn't payable to me, as they all were able to independently verify that it was in fact payable in my name. The last employee I spoke to at XXXX XXXXnformed me that XXXX typically does not get involved with issues arising after funds are distributed, and advised me to seek resolution from Amex and if I was still unsuccessful, to consider seeking legal representation ( which I can not afford ).

I again contacted American Express on XX/XX/XXXX, seeking a resolution, and was told the account can't be reopened, and they will not issue a replacement check to the address listed on the check. Amex again insisted I seek resolution from the check issuer to request a stop payment ( on a check that cleared and deposited XX/XX/XXXX ) as there was " nothing they could do ''. They would not provide me with a name of who they spoke with at XXXX, further details on how they concluded the check wasn't payable to me, or any further assistance. 

I am now facing eviction from my home thanks to American Express withholding these funds from me for roughly 5 weeks time now, for reasons they can't even or won't even explain. And it is apparently their inteintion to hold these funds indefnitely with no method of resolution being made available to me, outside of me figuring out who they need to talk to at XXXX ( concerning a problem that Amex seems to have created out of thin air based upon a conversation with XXXX they claim took place but that they have no details or further information on ) and having that person contact them to request the funds be released. 

As such, I am seemingly left with no other option than to file complaints with whichever regulatory bodies are tasked with receiving them in the hopes that I will eventually receive the funds to pay my landlord back long after I have very likely already been evicted from my home. So essentially, even when American Express does return the money that they should have never withheld to begin with, the damage that their absolute lack of due diligence and professionalism has caused in my life will unfortunately be irreversible, while the consequences the employees responsible for this situation face are likely to be non-existent