Consumer complaint received 2024-11-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BANK OZK
State: FL

Complaint narrative:
I, XXXX XXXX, have reason to believe that Bank OZK is in breach of contract, and may be implicitly committing securities fraud, banking fraud, and deposit fraud. 

On XX/XX/XXXX XXXX XXXX deposited {>= $1,000,000} USD via the transfer of XXXX lawful instruments in accordance with Federal and Florida State Law. On the said date, XXXX XXXX sent the following message to Bank OZK via the email account of XXXX to XXXX, & XXXX : ATTN : XXXX XXXX Bank OZK, I, XXXX XXXX, currently wish to retitle the deposit account into the name of an Irrevocable Trust which has perfected its secured interest in the account via Trust arrangement. Additionally, I would like for XXXX funds transfer items to be processed and/or deposited as instructed via ( Exhibit 5 ) INITIAL INSTRUCTIONS section of the attached Deposit Account Control Agreement. Following are the documents contained within this transmission : XXXX ) Revocation of Power of Attorney XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) XXXX ) Deposit Account Control Agreement XXXX ) Moneyverse Certified Funds Money Order # XXXX ( process as requested via Deposition Instructions attached to the Deposit Account Control Agreement ) XXXX ) Moneyverse Certified Funds Payment Order # XXXX ( deposit as requested via Deposition Instructions attached to the Deposit Account Control Agreement ) Rest assured that all actions and requests have been done with clean hands and in honor. Please contact me if you have any questions or concerns about the request. 

Sincerely, XXXX XXXX The message included XXXX instruments for deposit. 


On XX/XX/XXXX XXXX XXXX receives confirmation and acknowledgement of deposit of the funds and acceptance of the attachments and instruments via email from XXXX to XXXX. The message was also forwarded to XXXX. Following is the exact message received : Good morning, XXXX, Just reaching out to let you know that your XXXX is still being reviewed and will update you once I hear back from our XXXX department on how to move forward. 



Thank you, XXXX XXXX Banking Relationship Specialist XXXX XXXX XXXX XXXX, XXXX, FL XXXX O : XXXX NMLS # XXXX XXXX On XX/XX/XXXX, Bank OZK sent notice of dishonor to XXXX XXXX via email to XXXX. The message was sent from XXXX to XXXX as well as XXXX & XXXX. Following are the exact words of the message : Good morning, XXXX, Thank you for taking the time to reach out to me and for your interest in our business. We really appreciate you putting your trust in our services. 

Unfortunately, at this time, Bank OZK will not be able to fulfil your request with your trust account and denied the account opening. 



Thank you, XXXX XXXX Banking Relationship Specialist XXXX XXXX XXXX XXXX, XXXX, FL XXXX O : XXXX NMLS # XXXX XXXX Bank OZK refusal to acknowledge and allow fiduciary authority is a breach of contract and their Terms and Conditions. 

Though the message did not specifically address the {>= $1,000,000} USD deposit, nor the {>= $1,000,000} Deposit, the bank OZK refused to process the deposits. Due to their failure to process the deposited instruments into the checking account of XXXX XXXX, they are in breach of their contract with XXXX XXXX as per AQccount Disclosure Agreements which were transferred from Bank OZK to XXXX XXXX for official review on XX/XX/XXXX. 


On XX/XX/XXXX XXXX XXXX provided Notification of ERROR to Bank OZK via email. The email included two attachments. One was the statement for the month of XXXX, and the second attachment is the official Notificaiton of ERROR. The body of the message contained the following words : BANK OZK, Please be advised that this is an official notice from a consumer of a BILLING ERROR. 

Attached is official communications from the consumer XXXX XXXX to Bank OZK which serves as NOTIFICATION of ERROR. This NOTIFICATION is being presented to Bank OZK in accordance with The Electronic Fund Transfer Act ( EFTA ) ( 15 USC 1693 et seq. ) of 1978.

Please read the attached notification of error and review the relevant Account Statement which serves as evidence that Bank OZK is in breach of contract by its refusal to deposit authorized funds which were lawfully transferred via electronic means and were accepted by the Bank. 

Refusal to provide redress by processing the electronic funds transfer within 10 days of receipt of this notice, and/or refusal to provide provisional funds in the amount of {>= $1,000,000} USD to XXXX XXXX on or before 10 days of receipt of this NOTICE may cause this matter to be presented to the Federal Trades Commission of the United States of America , the Attorney General of FLORIDA, and may cause an involuntary bankruptcy case to be filed against Bank OZK for the benefit of the consumer who is currently a Creditor Bank OZK , as evidenced via the accounting records of XXXX XXXX XXXX 


Sincerely, XXXX XXXX Prior to sending this matter to the Federal Trades Commission of the United States of America, the Attorney General of FLORIDA, or the S.E.C. for potential securities fraud, we are coming to the Consumer Financial Protection Bureau in order to obtain remedy for this matter.

Company response to consumer: Closed with explanation