Consumer complaint received 2024-01-27 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: FISERV FINXACT CORE
State: MA

Complaint narrative:
On XX/XX/2023, I opened two accounts, the Smart Advantage Account and the Relationship Plus Money Market, with BMO through their website ( Accounts and account number shown as Attachment XXXX and XXXX ). I followed the instructions and proceeded to transfer the initial deposits into the accounts. Using my XXXX account detailsspecifically the routing number and account numberI made two distinct transactions : a {$25.00} deposit into the Smart Advantage account and a {$25000.00} deposit into the Relationship Plus Money Market account through the XXXX website ( Transaction in XXXX shown as Attachment XXXX XXXX. However, on XX/XX/2023, I received notifications from XXXX stating they encountered difficulties funding my newly opened accounts and decided to refund ( Email from XXXX shown as Attachment 6 ). However, I only received the {$25.00} deposit reflected in my XXXX account. The {$25000.00} intended for the XXXX XXXX XXXX XXXX account did not appear. Despite numerous attempts to resolve this issue by contacting XXXX I have not received a satisfactory resolution. After submitting a complaint in CFPB to XXXX, I finally received their response on XX/XX/2023. XXXX informed me that their vendor, Fiserv, holds the funds, and they advised that XXXX 's ACH department should request a debit return ( Response from XXXX shown as Attachment XXXX ). 

Following a complaint filed with the CFPB against XXXX on XX/XX/2023, I received a response from XXXX today stating that they reached out to Fiserv. However, they conveyed they are unable to retrieve the funds from Fiserv due to Fiserv requiring information from XXXXXXXX XXXX ; as XXXX XXXX had initiated the original ACH withdrawal and the return ( Response from XXXX shown as Attachment XXXX ). Its essential to note that XXXX communicated with Fiserv on XX/XX/2023, instructing me to request XXXX to reach out to Fiserv. However, XXXX has now redirected me to request XXXX to reach out to Fiserv. This situation falls into an endless loop, leaving me in a hopeless situation where Fiserv continues to hold my funds without resolution. Both XXXX and XXXX had contacted Fiserz. I believe there is no more excuse for Fiserz holding my funds for over 4 months. I urgently request Fiserv to return my funds immediately. If it is necessary for a specific financial institution to initiate this request, Fiserv must provide comprehensive instructions. This should include details on the bank responsible for making the request, the requisite information, and contact details for immediate follow-up. This information is crucial for a swift and effective resolution to the ongoing issue. 

This financial situation has made my life a mess as I need to use the {$25000.00} to pay my rent and groceries. Therefore, I seek the CFPB 's assistance in facilitating a resolution to retrieve the missing {$25000.00}, along with any accrued interests, which have been outstanding for over four months.

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