Consumer complaint received 2024-02-29 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Banking errors
Company: ALLY FINANCIAL INC.
State: NC

Complaint narrative:
Overview : I contacted Ally to try to get information about what appeared to be a smaller interest payment than I expected on an IRA CD, and, after several contacts with their people, when I was given assurances that I would get an explanation within a few days, I have still not gotten any feedback. 
Details : After receiving a 1099 from Ally for my IRA CD, I noticed that the interest paid on the CD seemed lower than what I expected. On XX/XX/XXXX, I called Customer Service ( XXXX ) and asked about the difference in interest. She spoke to someone in Deposit Operations, assigned a Case Number, and indicated they would email me a spreadsheet showing the calculation. I was told to call them back if I had any further questions after receiving the spreadsheet, and the Case Number would help in getting any questions answered. On XXXX XXXX, I received the spreadsheet, which showed interest calculated to be several dollars greater than what was posted to the account. In addition, I calculated the expected interest using the published XXXX for the account, and that number was almost {$9.00} greater that the interest posted. I called back on XXXX XXXX and spoke to XXXX to ask about the differences in interest ( posted amount vs. Allys calculation per the spreadsheet and vs. the XXXX  number ), and I was told Id get a call back within 1-2 business days from someone in the IRA Dept . who would answer my question. When I didnt get a call back by XX/XX/XXXX, I again called ( spoke to XXXX XXXX and was told someone was assigned to the Case, and I would get a call back the next day. On XXXX XXXX I received a call from XXXX, who was checking whether I was satisfied with the service provided by XXXX, and I told him I had been expecting a follow-up from someone, but had not received it. He checked the file and found that the person who was supposed to handle it ( XXXX XXXX was unable to do so, and XXXX was now assigned the case, and it would require 3-5 days to respond. I told him I was disappointed in the run-around I was getting, and I would like to speak to his supervisor. The Supervisor ( XXXX, in Executive Customer Relations ) told me the case was escalated and Id get a response within 3-5 days. He was willing to call me at XXXX on XX/XX/XXXX to advise me of status. XXXX called on XX/XX/XXXX, checked with the IRA Dept, and indicated someone would call back later that day. I have still not gotten a response. 

In addition, when I checked an online website ( XXXX ) regarding daily interest to achieve the XXXX advertised for the account ( 2.40 % ), it indicated a daily interest of 2.37173 %, not the 2.32402 % used in Allys calculation. 

I am disappointed in Allys poor customer service and failure to answer what seems to be a reasonable question. Hopefully filing this complaint will encourage them to provide a response.

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