Consumer complaint received 2022-01-04 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: Bread Financial Holdings, Inc.
State: IA

Complaint narrative:
XX/XX/XXXX -- Complaint being filed due to Comenity Direct High Yield Savings account being opened with {$1400.00} in deposits from Personal JOINT XXXX XXXX  Checking acct. # XXXX and credited to Comenity Direct High Yield Savings Account # XXXX. On XX/XX/XXXX, Comenity Direct restricted access to XXXX  # XXXX, consequently I can not close the account, transfer money back to XXXX XXXX  Checking Account or receive the {$1400.00} balance in this account. 
Details Below : XXXXCompleted and submitted online application for Comenity Direct High Yield Savings Account. 
XXXXComenity Direct HYSA was opened ( acct. XXXX XXXX  ) with a Funding Amount of {$250.00}. 
XXXXSuccessfully added data sharing preferences with Comenity Direct, connected by Plaid through XXXX XXXX  acct. # XXXX. 
XXXXReceived email from XXXX stating XXXX XXXX  Checking from XXXX XXXX  XXXX acct XXXX # XXXX was added as a transfer account. 
XXXXReceived email from XXXX thanking me for opening an account. 

XXXXTwo factor authentication was successfully enabled for my account. 
XXXXTwo small deposits ( {$.00} / {$.00} ) from Comenity Direct were successfully deposited into my XXXX XXXX  checking account XXXX XXXX. I confirmed these two small deposits with Comenity Direct through the secure messaging email at Comenity Direct. 
XX/XX/XXXX -- Two small deposits ( {$1.00} ) were reversed and withdrawn by Comenity Direct. 
XXXXFunding amount of {$250.00} was withdrawn from XXXX XXXX  acct. XXXX XXXXXXXX by Comenity Capital and credited to Comenity Direct HYSA # XXXX. 

XXXXReceived letter from Comenity Direct ( dated XX/XX/XXXX ) requesting additional information within 14 days in order to process High Yield Savings Account application. They requested a recent utility bill or a recent bank statement or most recent W-2 or 1099 Form. I sent a copy of my business checking account statement since they requested a recent bank statement rather than a statement from the funding bank account. Sent all three requested documents on XX/XX/XXXX. 

XXXXTransferred an additional XXXX electronic transfer deposit from checking acct. # XXXX in the amount of {$1200.00} to XXXX acct. # XXXX and was credited on XX/XX/XXXX. 
XXXXBalance in Comenity Direct HYSA is {$1400.00} XXXXReceived email from XXXX, MO, Product Support Representative Customer Care stating they had received documents in the mail but were unable to find a reason as to why they were sent. I responded to the email explaining that they had requested additional information and three identifying documents which is what I sent and what they received. 

XXXXReceived email from Comenity Direct stating XXXX Were Sorry, Were unable to approve you for a Comenity Direct High-Yield Savings. 
XXXXComenity Direct HYSA # XXXX was restricted. I can not transfer or withdraw my {$1400.00} and can not get an answer from Comenity Direct on how to gain access to my funds. 

XXXXReceived email from XXXX, MO, Product Support Operations Specialist thanking me for confirming that I had sent the requested documents through U.S.P.S. 

XXXXReceived email from XXXX, MO, Product Support Operations Specialist stating that they were waiting on proof of ownership of XXXX Bank acct. # XXXX and that I could email it back through there secure email as an attachment. 
XXXXEmailed latest XXXX XXXX  acct. # XXXX through secure email at Customer Care XXXX 

XXXXReceived email from XXXX, MO, XXXX XXXX XXXX 1 acknowledging the receipt of the XXXX XXXX  emailed statement XXXX 
XXXXReceived letter in mail from XXXX XXXX Customer Care requesting the same information as previously requested except for the bank account statement which shows ownership of the funding account. I told them that I had mailed all the documentation requested including the Funding Bank Statement on XX/XX/XXXX through the XXXX. 

XXXXReceived receipt from XXXX. that the documentation that was mailed to Comenity Direct Customer Care had been delivered and Picked Up at the XXXX, MO Post Office. 

XXXXCalled Comenity Direct Customer Care and XXXX XXXX XXXX and XXXX. XXXX stated that she had reviewed the documentation for fraud and had forwarded the submitted documents to management for review. 
XXXXReceived email from XXXX, MO, Product Support Rep 1 stating they had received notification of my recent phone call and that my account is being reviewed. Once they have additional information, they will communicate that through this secure messaging center. We apologize for this delay. 

XXXXCalled Comenity Direct Customer Care and spoke to XXXX and she stated that my account was still restricted and that it is currently being reviewed by management. She also said that the Management Review Department was very backed up due to the number of pending account reviews and the restriction was scheduled to be resolved by Friday, XX/XX/XXXX. 

XXXXReceived email stating that my Enhanced Statement for XX/XX/XXXX, acct. # XXXX was able to be viewed and downloaded. This statement, which is attached to this complaint shows a balance of {$1400.00}. 

XXXXCalled Comenity Direct and talked to XXXX and she called the Internal Department to find out what the problem is. I was told that the account is under Review and that the Internal Department has contacted the funding bank to verify the ownership of the XXXX XXXX, XXXX. account # XXXX and they have not heard back. I told XXXX that I had mailed and emailed copies of my latest XXXX XXXX  XXXX statement showing that this was a joint account and that I was an owner. She stated there is nothing she could do and that THE ACCOUNT IS UNDER REVIEW! 

XXXXAccount still RESTRICTED and I still do not have access to the {$1400.00} in our Comenity Direct High Yield Savings Account # XXXX and all correspondence with Comenity Direct Customer Care ( emails and phone calls ) states that my account is being reviewed. Once again, Comenity Direct HYSA XXXX XXXXXXXX is RESTRICTED. I can not transfer or withdraw my {$1400.00} from Comenity Direct HYSA XXXX XXXXXXXX and can not get an answer from Comenity Direct on how to gain access to our savings. 

Thank you for your help!! 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX, IA XXXX ( XXXX ) XXXX XXXX XXXX

Company response to consumer: Closed with explanation