Consumer complaint received 2024-10-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Cashing a check
Company: ZIONS BANCORPORATION
State: UT

Complaint narrative:
This Complaint is a continuation of a previous complaint i submitted via the CFPB. It's regarding a check of {$160000.00} that i deposited in my business account at Zions bank. After i deposited the check on the XXXX of XXXX, Zions back cashed the check and collected the funds, they decided to do an extra verification on the check but the originating bank ( XXXX XXXX ) told them the check was " not good ''. The sender of the check reached out to his bank ( XXXX ) and he was informed that the reason they told Zions bank that the check was not good was because it was cashed already ( by same Zions bank ) they also stated that they can only release more information about the check is if Zions bank can call XXXX bank with the sender of the check on a XXXX way call so the sender can give discover bank consent to release more information about the check to Zions bank. They said Zions bank should have verified the check before cashing it and that they don't validate an already cashed check. 

Zions bank refused to do this and they made a decision to return the funds and close my account. In their response to the previous CFPB complaint, they stated that they have been working with XXXX and XXXX have requested the funds from the check in the amoutn of {$160000.00} be returned to them. Also, I called XXXX, a representative of Zions bank on Monday the XXXX of XXXXXXXX XXXX and he told me that a check in XXXX amount of {$150000.00} was sent to XXXX bank and the check was not made out to anyone, no reference to any account or any information, just a cashiers check to XXXX I asked XXXX XXXX the funds were returned, if the check was sent electronically or via mail, if there's any tracking or whatever that i can provide the owner and sender of the check so that he can resolve this with his bank. 

I provided the The sender of the {$160000.00} with the information XXXX provided me and he contacted his bank to inform them that a check of {$150000.00} is supposedly being sent to them by Zions bank. 

XXXX bank claims that they are not in contact with Zions bank regarding the check. If Zions bank called, there would be notations on the account. If the check of {$150000.00} wasn't made out to anyone or if there are no references, the check would be useless. 

XXXX bank said that there is no way Zions bank would reach out to them without them ( XXXX ) asking for the check number and the reason Zion bank wants to process a refund. They said if there was a refund or any contact regarding a refund from Zions bank, there would be notations on the account or at least on the check history. 

Once again, i am the depositor of that check, i need Zions bank to inform me how the refund is being processed. If my account is being closed, Zions bank needs to tell me what would happen to the funds in the account. Zions bank needs to reach out to XXXX bank, explain the origin of the check and the issue they are facing with the check and tell them how they'll be returning the funds. They can not just return money to discover bank without any reference or it being made to anyone. XXXX bank said it's useless and Zions bank knows this. 

The problem here is the owner and sender of the check needs his funds back and if Zions bank made a check to discover bank without any reference or whatsoever, how would the funds be traced back to the original Sender? and how would i be able to get myself out of this mess Zions bank has put me. I have told Zions bank that if they are suspecting fraud and have refused to release the funds to me that's fine, but they have to be professional and return the funds back to discover and also letting them know the origin of the funds, the check the funds was claimed from and the issue at hand so discover bank can do their investigation, check with their customer and check if the check was legitimately made our or not, this shouldn't be Zions bank concern.

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