Consumer complaint received 2024-01-27 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BMO BANK NATIONAL ASSOCIATION
State: MA

Complaint narrative:
On XX/XX/year>, I opened XXXX accounts, the Smart Advantage Account and the Relationship Plus Money Market, with BMO through their website ( Accounts and account number shown as Attachment 3 and 4 ). I followed the instructions and proceeded to transfer the initial deposits into the accounts. Using my XXXX account detailsspecifically the routing number and account numberI made XXXX distinct transactions : a {$25.00} deposit into the Smart Advantage account and a {$25000.00} deposit into the Relationship Plus Money Market account through the BMO website ( Transaction in XXXX shown as Attachment 5 ). However, on XX/XX/year>, I received notifications from BMO stating they encountered difficulties funding my newly opened accounts and decided to refund ( Email from BMO shown as Attachment 6 ). However, I only received the {$25.00} deposit reflected in my XXXX account. The {$25000.00} intended for the Relationship Plus Money Market account did not appear. Despite numerous attempts to resolve this issue by contacting BMO, I have not received a satisfactory resolution. After submitting a complaint in CFPB to BMO, I finally received their response on XX/XX/year>. BMO informed me that their vendor, XXXX, holds the funds, and they advised that XXXXXXXX XXXX ACH department should request a debit return ( Response from BMO shown as Attachment 1 ). 

Following a complaint filed with the CFPB against XXXX on XX/XX/year>, I received a response from XXXX today stating that they reached out to XXXX. However, they conveyed they are unable to retrieve the funds from XXXX due to XXXX requiring information from BMO Bank ; as BMO Bank had initiated the original ACH withdrawal and the return ( Response from XXXX shown as Attachment 2 ). Its essential to note that BMO communicated with XXXX on XX/XX/year>, instructing me to request XXXX to reach out to XXXX. However, XXXX has now redirected me to request BMO to reach out to XXXX. This situation falls into an endless loop, leaving me in a hopeless situation where XXXX continues to hold my funds without resolution. 

The situation has become increasingly convoluted, with conflicting responses from BMO and XXXX. I request BMO to provide detailed processes undertaken in their communication with XXXX. This includes BMOs inquiries and XXXX 's detailed responses and instructions in all communications. Meanwhile, I have submitted complaints against both XXXX and XXXX today, and simultaneously, I urgently request BMOs assistance in working collaboratively with XXXX and XXXX to resolve this matter promptly and retrieve my funds. 

This financial situation has made my life a mess as I need to use the {$25000.00} to pay my rent and groceries. Therefore, I seek the CFPB 's assistance in facilitating a resolution to retrieve the missing {$25000.00}, along with any accrued interests, which have been outstanding for over XXXX months.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with monetary relief