Consumer complaint received 2026-03-03 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: SANTANDER HOLDINGS USA, INC.
State: MO

Complaint narrative:
On XXXX XX/XX/2026 I opened a High Yield Savings Account ( HYSA ) with Openbank by Santander Bank, the account ended with XXXX. Using their mobile app, which is mandatory, I transferred {$50000.00} from my checking account with XXXX XXXX XXXX into the XXXX. On XXXX XX/XX/2026 I received an email from Openbank informing me that I had XXXX days from opening an account to deposit money or the account would be closed. I opened the Openbank app and discovered it showed I had a {$0.00} balance and there was no history of any financial transactions. I called the listed telephone number and spoke with an agent who told me that XXXX had placed a hold on the transaction and the money had been returned to XXXX. I contacted XXXX and spoke with XXXX using their chat room, she told me that XXXX would not place a hold and that if the transfer was not successful it would be returned. We both observed that the {$50000.00} was indeed removed from my checking account on XXXX XX/XX/2026 with the description XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. My chat with XXXX was disconnected so I called and spoke with XXXX. He told me the funds were transferred with a trace # XXXX on the XXXX. I opened a dispute resolution at that time. On XXXX XX/XX/2026 I received notice from XXXX that my complaint resolution had been closed but without any details. I called XXXX and was told that my case had been closed because their investigation concluded that XXXX had completed the request properly and basically it wasn't their problem. I told them that my money was still stuck somewhere, it was not in the Openbank account nor XXXX and that I wanted them to reopen the case. I then called Openbank and spoke with either XXXX or XXXX. She told me that on XXXX XXXX XXXX and placed a hold on the transfer and that on XXXX XXXX my funds were returned to XXXX with a reversal # XXXX. I then called XXXX again and gave them this information. I then called Openbank, again, and this time spoke with XXXX. He told me that XXXX had placed a hold on the transfer. This was the first time that XXXX was brought up and I had never heard of it before. XXXX told me that my issue was not with Openbank but with XXXX and that I needed to contact XXXX and file a grievance with them to reclaim my funds. I then called XXXX, again, and spoke with XXXX giving him this update about XXXX. XXXX said he was confused why XXXX was being used in a bank-to-bank money transfer. On XXXX XX/XX/2026 I read an email XXXX sent last night stating they were again closing my dispute. At this time my {$50000.00} is stuck somewhere digitally. XXXX is telling me they did everything properly and will do nothing further to help me get my funds back. Openbank is telling me that they don't have my money either, and depending on who I talk to that either Openbank returned my {$50000.00} to XXXX or XXXX did. Either case, my money is not back in my XXXX account.

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