Consumer complaint received 2023-03-15
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: AXOS FINANCIAL, INC. (IL)

Dear Consumer Financial Protection Bureau, I really need some help. I opened a personal loan in XXXX with Axos Bank ( XXXX XXXX, NV ). The loan was to consolidate debt and I have been paying my monthly payments for three years. With student loans restarting this summer, I am trying to get in a better financial position and I decided to use a bonus from my employer to pay off the personal loan. I contacted Axos Bank since they do not allow for payoff through their website. The only way to pay off the personal loan is a wire transfer or to send a check to their XXXX XXXX location. I received the pay off information from Axos, which included the wire instructions. I followed the instruction that I was provided and sent the wire on XX/XX/XXXX. My bank, XXXX XXXX XXXXXXXX, let me know the wire would take about 3 business days, so Axos would receive the pay off of {$9700.00} on XX/XX/XXXX or XXXX. Axos must receive the pay off within 10 days, or they add interest and then I would need to go through another pay off to close the loan, so I decided to wire the money to ensure it reached the bank on time. 

Again, I followed Axos instructions include their routing and account number. I did not hear from Axos and did not see the pay off credited to my account on XX/XX/XXXX, two - three business days after the pay off was supposed to arrive so I emailed Axos through their website on XX/XX/XXXX. I did not receive a call or email back, so I started calling the bank on XX/XX/XXXX trying to find out when the payment would be processed. Axos customer care center is the only number I can find for the bank and I was informed by that team they can not find the wire transfer. After several calls on XX/XX/XXXX & XXXX - I realized and confirmed with their call center that Axos sent me an incorrect Demand Statement or pay off letter and the account number is wrong. Axos did receive the money as the routing number is correct, but now Axos can not find the money even though it arrived at their bank. I have asked to speak with their wire or account teams, but their care center team refuses to transfer me to anyone outside their care center. On my sixth call to the bank in three days, I finally was transferred to a supervisor, who was not helpful and basically said I need to get more information from XXXX XXXX XXXXXXXX. My monthly loan payment is set to debit from my account towards the end of XXXX ( XXXX I believe ) and will deduct another {$650.00} from my account on top pf the {$9700.00}. I have done everything Axos has asked in terms of providing receipts from the wire transactions and I have reached out to XXXX XXXX XXXXXXXX to request additional information on Axos behalf and provided that information to Axos, but that is still not enough. I am really frustrated and Axos takes no responsibility for this issue, even though their employee provided the wrong info and I feel like I am stuck and soon to be out over {$10000.00} and will still owe on my loan if this does not get resolved. I am not sure what the Consumer Financial Protection Bureau can do, but anything you can do to assist in resolving this matter so I am not out more money would be a blessing and greatly appreciated. Please help if you can. 

Axos Bank - 2 Branches FDIC Cert # XXXX Established : XX/XX/XXXX Bank Charter Class : Federal Savings Bank Primary Federal Regulator : Comptroller of the Currency Secondary Federal Regulator : CFPB Main Office : XXXXXXXX XXXX  XXXX XXXX XXXX XXXX XXXX, CA XXXX ( XXXX XXXX ) Office on loan documents : XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, NV XXXX ( XXXX XXXX ) Very frustrated, XXXX XXXX XXXX XXXX XXXX. # XXXX XXXX, IL XXXX XXXX XXXX XXXX