Consumer complaint received 2024-04-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: U.S. BANCORP
State: GA

Complaint narrative:
My complaint involves XXXX  XXXX  as I am XXXX XXXX XXXX. I received a mailing from U S Bank NA in XXXX  of XXXX that offered an {$800.00} Bonus if I opened a Business Checking Account and deposited {$25000.00} within 30 days and maintained a {$25000.00} account balance for 60 days after that. I was a current customer of U S Bank at this point which allowed them to XXXX  me as a potential prospect for an offer of this nature. I read the material as thoroughly as possible given the limitations of my age and decided to apply. Prior to applying, I called the bank 's customer service department to make sure I understood the requirements of the offer and they confirmed my understanding. The offer included a special Authorization Code that you had to input to determine if you qualified for the offer prior to proceeding with the application. On XX/XX/XXXX I accessed the application website, input the Authorization Code and was approved to proceed with application. Upon completing the application, I also transferred {$100.00} to fund the account on the same day.. On XX/XX/XXXX I transferred {$25000.00} into the account which completed the requirement to fully fund the account within 30 days. I made several calls over the next 60 days to be sure I was in compliance with the terms of the offer and to determine when I could expect to receive the {$800.00} bonus. On each call I was told it would be 15 days after 60 days of the {$25000.00} deposit being made or XX/XX/XXXX. On XX/XX/XXXX I determined the bonus had not been posted to my account and called customer service.The agent confirmed I had met the requirents of the offer and the bonus with post on Monday, XXXX XXXX. On Monday XXXX XXXX the bonus did not post and I called customer service again and was told I would not receive the bonus because I had previously had a U S Bank checking account which made me ineligible for the offer. I was shocked and inquired why the Bank accepted the Authorization Code that confirmed I qualified for the offer and allowed me to proceed with the application, deposit {$25000.00} and allow the bank to hold this money for 60 days and not pay me the bonus! The agent had no coherent answer other than the offer was not available to prior customers. I informed I read the details of the offer and that disclaimer was not apparent, was never mentioned in any previous phone calls to the bank and made absolutely no sense. She also admitted the disclaimer language was hidden in the fine print and the bank had recently recognized that it was very diificult for normal person to see it and had made changes to post the disclaimer more prominently! I asked for my complaint to be escalated to a manager who refused to issue me the bonus and also refused to escalate my complaint any further. This is a flagrant case of bait and switch and in this case deceiving an XXXX XXXX XXXX person to deposit {$25000.00} expecting an {$800.00} bonus and not live up to the promise. I need your helpto convince U S BANK to issue me te {$800.00} bonus as this has caused me financial harm as these funds could have been invested in a Government Agency bond paying 6 % interest in the amount of approximately {$250.00} over the 60 day period.

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