Consumer complaint received 2020-04-27
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: U.S. BANCORP (MO)

On XX/XX/2020, I opened a checking account with US Bank online. I funded it with {$50.00} by debit card, and to reach the {$1500.00} minimum balance to avoid maintenance fees, I deposited a {$750.00} check on XX/XX/XXXX and a {$700.00} check on XX/XX/XXXX via mobile check deposit and drawn on another bank account of mine elsewhere. I had to do separate deposits as there was a {$750.00} daily check deposit limit. A few days later I received letters stating these checks would be held and not available for 7-10 business days, as I expected as it was a new account. Then on XX/XX/XXXX, I received a letter from the unnamed branch manager of the XXXX XXXX XXXX branch that my account was being closed due to suspicious and irregular activity. I was very surprised and confused, so I called the branch phone ( XXXX ) as the letter instructed, and could not reach anyone. I then did some internet research to find that XXXX XXXX was the manager of the branch and emailed her asking why my account was being closed. She called me a couple hours later and explained that if I read the account disclosures, I would know that the bank can close an account for any reason and that the reason was that most people don't make two mobile check deposits within a day of each other for about the same amount. I explained that the checks have already cleared my other bank ( XXXX, on XX/XX/XXXX and XXXX respectively ), and why the account needed to be closed since a hold is sufficient to ensure the checks are good. She insisted that it was suspicious and that if I wanted to come to the branch that she would help me read the disclosuresa sarcastic remark I did not find helpful. She said my employer direct deposit that was paid that morning would be returned to my employer ( which was incorrect ) and the balance would be mailed via check in 10 business days. I did receive my paycheck back from US Bank on XX/XX/XXXX ( 18 days after it was paid to my account ) via US Bank certified check by mail in the amount of {$620.00}. Since then, I have not received the remaining {$1500.00} of my balance, over a month after these deposits cleared. On XX/XX/XXXX, I emailed the XXXX as instructed by the check letter, along with supporting documentation, and demanded my remaining balance. I received no reply. On XX/XX/XXXX, I received a final account statement via mail showing a final withdrawal on XX/XX/XXXX of {$1500.00} with no description other than " 32/ [ my account # ] ''. I called the main customer support line at XXXX and spoke with a XXXX who could not provide any information on where my {$1500.00} was and what the withdrawal transaction was. She referred me to call XXXX where I could not reach anyone. For over a month, US Bank has frozen and closed my account and continues to withhold {$1500.00} of my money due to no fault or wrongdoing of my own. As a public accountant and ex-banker who has never once overdrawn an accountmuch less passed a fraudulent checkI am floored by the fraudulent ineptitude of this bank and of XXXX XXXX. Please help me recover my {$1500.00} from US Bank. Thank you.