Consumer complaint received 2017-03-30
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: U.S. BANCORP (WA)

XX/XX/XXXX Dear Sir or Madam : This dispute regards a US Bank " Easy Checking account '' XXXX, opened at the XXXX, XXXX, WA XXXX branch. 
In essence, I asked for and opened a simple checking account with US Bank with {$25.00}. Not known to me, this account also contained a {$6000.00} Line of Credit, a Visa Card, and a monthly fee. Despite XXXX activity on the account from inception through today, my credit is in tatters and US Bank will do nothing to help. ( See attached US Bank letters ). 

What happened : I opened the checking account XX/XX/XXXX to handle the proceeds of a real estate transaction in California, which was then in process. The transaction failed ; although I did sell the property later on a private note. So I did not ever need the US Bank checking account, as all our other financial matters are conducted with XXXX here in XXXX WA. In fact, I have never executed a single transaction of any kind with US Bank, other than opening this account on that day. In fact, I forgot I even had this account. 

My clear understanding ( see signature card copy attached ) was that I had opened a simple no-fee checking account. Now US Bank does have such a thing ; but apparently it is n't called " Easy Checking Account ''. The intake person at US Bank wondered why they did n't give me that, while taking my dispute. There was no mention of a Visa card, Line of Credit, or fees at the point of sale. I already have both those items with my primary bank XXXX ( XXXX ). 

2 years and 2 months later, here in XX/XX/XXXX, I receive a letter from XXXX, a credit collection agency, asking for {$150.00} in delinquency monies. I was shocked. I returned to the bank branch and asked for an explanation. The Branch Manager told me that attached to my Easy Checking Account was a Line of Credit for {$6000.00} and also a Visa Card. He verified that the credit card had never been activated and the Line of Credit had never been accessed. He also told me that since the LOC and Visa card were attached to my Easy Checking Account, there were monthly fees attached. I had no idea. 

So what happened was they drew down my initial {$25.00} deposit with the monthly fee, and then when it reached XXXX, began to draw from the Line of Credit to keep the Easy Checking Account afloat. This in turn required monthly payments to the Line of Credit from me. Finally, without so much as a phone call, they closed and " charged off '' the entire account in XX/XX/XXXX to the XXXX Credit Reporting Agencies. 

I was aware of none of this. 

After much discussion, and then phoning US Bank 's dispute area, US Bank sent a letter ( attached ) stating they would do nothing change their delinquency report. So, on the advice of my real bank, XXXX, I paid in full the disputed amount of {$150.00} to the collection agency on XX/XX/XXXX. 

Some of the fallout from this mess is a 19.5 % increase ( {$340.00} annual increase ) to my auto insurance rates, per my agent, directly attributable to this credit blemish ( attached ). Also, we are attempting to downsize and purchase a new home. My lender has pointed to the XXXX to XXXX points extra I will be paying for a real estate loan. The cost is becoming astronomical ; and the cause of it all is a {$25.00} checking account, issued under what I consider deceptive circumstances. 

I am now turning to you folks to request that this black mark on my credit be removed from my credit report, and my good credit standing restored. 

Thank you! 

XXXX