Consumer complaint received 2025-05-23 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: U.S. BANCORP
State: TN

Complaint narrative:
On the XXXX of XXXX I noticed a transferred that I initiated to deposit funds into my business bank account with US Bank had declined. I tried several more times and the other payment provider advised me to call US bank- the holder of the debit card that's linked to my business account. I did so. They told me there were no holds, restrictions, other notes that would indicate any type of reason why this would be occurring. The following day, I attempted to purchase gas for the business vehicle on the business card- it was declined with money showing in the account as well as no notifications in my business banking inbox from US Bank . I put it on another card and gave them a call. I was transferred around to five different people from XXXXXXXX XXXX XX/XX/year> - All to end up with their fraud Department telling me that the bank had decided to close my accounts because of suspicion of fraud but could not provide any valid reason. The fraud department representative as well as business banking representatives and card Representatives noted that they saw no indication of fraud on my account other than the fraud complaint I had filed for charges over a month ago which was already closed. Now I have to move my entire schedule around tomorrow, go up to a branch manager which luckily I work with one locally, and it's at his discretion as to whether they unlock my money or they cut me a cashier 's check and close my account. So genetically impact my credit. Every single representative noted that I've been a loyal client, that there's no history of negative balances in my accounts or bad checks written, that they can see that I provide a lot of business at bank and can see the referrals I provided to the bank... So do I have to move around my entire schedule to ensure that the mother company for my other four divisions that I've launched all through self-funding, no small business loans/now bank loans/ no family, no help. Nothing- can run payroll next Wednesday.. This is absolutely unacceptable. Someone should have given me a call and let them know that they had concerns about my account and I would have been happy to share my books, my tax returns, my contracts, or any other information that they felt would be useful and assessing, properly, the risk associated with XXXX business that has doubled its profits every single year. It's been in existence and now open for new divisions with other partners as XXXX XXXX in the company. I don't think I would have people investing in my company out of their own money that they could easily just keep in the bank and make interest if I already sort of fraud or financial risk... These are astute business professionals. On top of this- I find out because my small business has been doing better- no banking representative or had followed up with me to tell me that a goal or platinum checking account would save me hundreds of dollars in fees for my business 's increase in revenue. Why are they punishing small businesses? I've already filed a complaint with their internal division. But none of them could tell me anything except go to a branch manager and they have the power to override it. I shouldn't be having to take that time out of my day to go to the bank that I've made a lot of money for through my business that literally exists to help other businesses, no one is willing to help in terms of operational overhaul, which often involves me paying it forward, which you will rarely find a consultant that does this. To even have this insinuated about me or my companies absolutely unacceptable. It's disgusting to be quite XXXX. I guarantee there's not one person at US Bank that works as many hours as many days a week as I do trying to do the right thing everyday. This needs to be corrected and they need to be reprimanded and held accountable for preying on small businesses. While our president is working very hard to rebuild this economy and small businesses are holding on as much as I can. This is predatory, absolutely not done in good faith, and is a violation of their responsibility is my financial institution that I trust my business and my personal finances with.

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