Consumer complaint received 2025-04-19 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: MONEYGRAM PAYMENT SYSTEMS WORLDWIDE INC
State: TX

Complaint narrative:
MoneyGram Payments Inc has not resolved my problem to this date. It is now XX/XX/year> and MoneyGram closed the profile and MoneyGram checking account which is issued under XXXX XXXX MoneyGram closed the debit card with a balance of {$1500.00} positive on XX/XX/year> this balance was my balance and I am entitled to the funds on the account. MoneyGram payment systems closed the account stating that I would receive the funds within XXXX business days by check. Which I have already taken a picture of and provided below. MoneyGram told me they do not know why they closed the profile or account. However MoneyGram states that someone else created a profile with different information using fraudulent email addresses XXXX and XXXX neither of which I have EVER been associated with. At first MoneyGram customer service told me the account was closed because they didnt feel comfortable with the activity in the account. What activity? Well MoneyGram states they comply with compliance laws and regulations but this is false. MoneyGram is closing peoples accounts randomly when they have funds in the account and confiscating the funds. Because they feel like it. This is unacceptable behavior from a financial services company. They are not following FDIC regulations or cfpb requirements and are violating consumer rights. I have never been associated with the profiles they mentioned above. Secondly MoneyGram disabled the profile yet sent statements and tells me to login to view the statements. So MoneyGram is also holding statements. Banking and Financial services companys are required to provide statements at the customers request up to 7 years. At this time MoneyGram will not send me the statements, and will not let me access them. Secondly MoneyGram states that Chargebacks were issued on the account for previous transactions and that the funds in the MoneyGram money account were offset to pay those chargebacks. Their customer service is now stating that they offset the account to pay the chargebacks. First and foremost I dont have any chargebacks. I have a feeling MoneyGram is trying to associate my profile XXXX to one of the fraud profiles above. I have nothing to do with those accounts. I never opened those accounts nor created them. I never signed up under those emails. So confiscating my balance for chargebacks on someone elses account isnt acceptable. I have requested MoneyGram to send me documentation on what chargebacks they paid with my balance in the account at the time of closure. I spoke to the bank on several occasions and they never issued any chargebacks. They also tell me they never received any funds from MoneyGram. I do not believe a proper investigation has been conducted. I am contacting the OCC and FTC to report MoneyGram for scamming consumers immediately. MoneyGram is committing embezzlement and fraud. Transferring funds after closing consumer accounts to internal employees apparently. Which is not following proper regulations. I believe I am entitled to the documentation as to where the funds were offset. If they went to the profiles I mentioned above which were opened as identity fraud then I will also be contacting the police department as I did not receive any moneygram agreement at the time of account opening. Nor did I agree to any offsets. MoneyGram did not have my permission to offset my account to pay chargebacks on those other profiles. If any. I have only had one profile. Please provide documentation proof to where you transferred the funds and once again provide statements as I requested and my refund of {$1500.00} which you owe me.

Company response to consumer: Closed with explanation