Consumer complaint received 2026-01-03 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: OLD NATIONAL BANCORP
State: MN

Complaint narrative:
Consumer Financial Protection Bureau ( CFPB ) Complaint Regarding XXXX Transaction Hold and Resulting Financial Harm Complainant : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, MN XXXX Financial Institution : Old National Bank Product / Service : XXXX ( person-to-person / business electronic funds transfer ) Amount : {$2200.00} Date of Transaction : XX/XX/year> Description of the Problem I am submitting this complaint regarding Old National Banks handling of a XXXX transaction that was represented as an instant transfer but was instead placed on hold, subjected to excessive scrutiny, and ultimately delayed in a manner that caused me significant and measurable financial harm. 

On the date listed above, I initiated a XXXX transfer in the amount of {$2200.00} to a licensed motorcycle dealership located in XXXX XXXX, California. This was a legitimate commercial transaction. My account is established and in good standing, and the transaction amount was not anomalous relative to prior activity. 

Despite XXXX being marketed and represented as an instant transfer service, Old National Bank placed the transaction on hold after authorization. The bank did not notify me in advance that the transfer would be delayed, nor did it provide a timely or clear explanation for the hold. 

As a direct result of this delay, the dealership was unable to release the motorcycles on schedule, which caused me to incur over {$1000.00} in additional costs, including transport delays, storage fees, and additional transfer-related expenses. These damages were foreseeable and directly attributable to the banks failure to process the transaction as represented. 

When I contacted Old National Bank to resolve the issue, I was placed on hold for an extended period and then questioned by a representative about the nature of my purchase. I was further told that the transaction would not be released unless I provided unrelated and intrusive personal information, including a drivers license number from a state in which I no longer reside. This request appeared excessive, irrelevant, and inconsistent with reasonable identity verification practices, particularly given that the transaction had already been initiated and authorized. 

At no point was I provided with a clear explanation of what specific compliance rule or regulatory requirement allegedly justified the delay or the additional demands for personal information. 



Why I Believe This Is a Violation Old National Banks actions raise serious concerns under consumer protection standards, including : Misrepresentation of XXXX availability and speed by advertising instant transfers while imposing undisclosed post-authorization holds Failure to provide timely notice or explanation of funds unavailability Imposition of excessive and irrelevant identity verification requirements after transaction authorization Causing direct financial harm through unnecessary delay, without mitigation or reimbursement Resolution I Am Requesting I respectfully request that the CFPB require Old National Bank to : XXXX. Provide a written explanation identifying the specific policy or regulatory rule that justified the transaction hold XXXX. Explain why XXXX was represented as instant when it was not processed as such XXXX. Reimburse me for the consequential financial damages incurred as a direct result of the delay ( in excess of {$1000.00} ) XXXX. Confirm corrective action to prevent similar harm to consumers in the future I am prepared to provide documentation supporting all stated damages upon request. 



Submitted by : XXXX XXXX

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 explanation