Consumer complaint received 2022-12-15
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: PENTAGON FEDERAL CREDIT UNION (VA)

I deposited a cashiers check into my PenFed checking account on Saturday, XX/XX/XXXX, through the mobile deposit function in the PenFed App, in the amount of {$6600.00}. 

In short, I have been continuously denied the fund, even 19 days after the deposit. XXXX is denying me access to the funds, denying my request to return the check, and denying bouncing the check. Im describing in detail below, and attaching all documentation. Please advise. 

I tried to log into PenFed online banking on XX/XX/2022, and received a pop-up message saying my access had been blocked, and to contact PenFed. 

I called PenFed to inquire, and they said they had put a hold on my account, and that the hold would be removed by Saturday, XX/XX/XXXX. 

I called back on Friday, to see the progress. I was informed that PenFed needed documentation, they said they needed proof of funds. This seemed illogical to me, since cashiers checks are funded at the time of issuance, but at the PenFed associates insistence, I went to a XXXX branch, and requested some documentation for proof of funds. They told me, since I am not the person who had the check issued, nor a banking authority, they could not give me any sort of a document. Although, verbally, the associate did confirm that the check was presented on XX/XX/XXXX, and the fund were released. 

I contacted PenFed again, and gave them this update, and they kept insisting that I need some document from XXXX. At this point, I request the associate for something in writing, stating the information he was saying to me. I have not received any such correspondence. 

Later on Friday, I contacted the gentleman who gave me the check, and requested him if he could get me any documentation, And he was kind enough to send over the attached withdrawal slip, after it had been processed through XXXX. I submitted this document to XXXX on Saturday, XX/XX/XXXX. I called again on Monday, XX/XX/XXXX, and told them that I submitted the document, and after a long hold, was told that this would not suffice. 

At this point, I requested that they either void the transaction and return the check to me, or bounce the check if XXXX denied the funds. Regarding bouncing the check, they said they couldnt do so, and regarding returning it, they said I would need to go to XXXX and ask that they reissue the check. I again went into a XXXX branch on Monday and requested that the check be reissued. Upon calling their main office, the XXXX associate informed me that the check had been presented and the funds released on XX/XX/XXXX, and that they could not reissue it. 

On Tuesday, XX/XX/XXXX, I received a letter in the mail, from PenFed, saying These funds will be available on the XXXX business day after the day of your deposit. 

We have taken this action because we received confidential information that indicates the check may not be paid. 

Upon seeing this letter, I thought I could wait another till Wednesday, XX/XX/XXXX, which would be the XXXX business day after the deposit, and get access to my funds. I called PenFed on XX/XX/XXXX, and was told that they would not be honoring the letter, and they are still awaiting more documentation from me. 

On XX/XX/XXXX, I received an email saying that a message was waiting for me in the PenFed message center. When I tried to click on the link to log in, I was again informed that my account was restricted and so I couldnt see the meeting. I called PenFed to inquire, and the associate told me that the message was just asking for proof of funds again, and that there was no new info in it.