Consumer complaint received 2021-03-19 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: U.S. BANCORP
State: CO

Complaint narrative:
On XX/XX/XXXX, I made an in-person {$20000.00} check deposit to my savings account. At the time of deposit, the teller ( XXXX XXXX XXXX ) provided a Notice of Hold indicating {$220.00} would be immediately available ; {$5300.00} would be available on XX/XX/XXXX ; and {$14000.00} would be available on XX/XX/XXXX. 

On XX/XX/XXXX, I returned to the bank to inquire why the {$220.00} and {$5300.00} was not showing as available. The branch manager, XXXX XXXX XXXX XXXX XXXX ; XXXX ), informed me that a longer hold had been placed because the " back office '' had reason to believe the check would not be paid. I asked when, as required under Reg CC, the notice to this effect was provided. MrXXXX XXXX stated no notice was required. Later on XX/XX/XXXX, I received an email from Mr XXXX stating a response to my question would be received within 15 calendar days. In this email, Mr XXXX ' manager 's, XXXX XXXX, phone number was also provided ( XXXX ). I called Mr XXXX and left a voice message ; never have I received a response from Mr XXXX. 

On XX/XX/XXXX, via US Mail, I received a new hold notice, dated XX/XX/XXXX, stating a longer hold had been placed indicating the funds would be available no later than the 7th business day after the day of deposit. I believe the 7th business day after the day of deposit would be XX/XX/XXXX - as indicated on the initial Notice of Hold provided to me at the time of deposit on XX/XX/XXXX. 

On XX/XX/XXXX, via US Mail, I received response to the email from Mr XXXX dated XX/XX/XXXX. In this letter, it states : " after this deposit was reviewed by our Deposit Risk team, along with your account 's transaction history ( more on this - see below ), we had reason to believe this check may not be paid. '' The letter went on to say if I had any further questions, to contact the XXXX Customer Service at XXXX. On XX/XX/XXXX, I called this number and spoke with XXXX, who said she would transfer me to the Deposit Risk Team. When transferred, I spoke with XXXX ( in the Fraud Liason Center ). When I asked to be transferred to the Deposit Risk Team, XXXX stated only the branch manager ( Mr XXXX ) can call them. Needless to say, I have found the branch manager ( Mr XXXX ), as well as his manager ( XXXX XXXX ) to be of no assistance. 

All of the funds were finally made available on XX/XX/XXXX ( the 8th business day after date of deposit ). 

In the meantime, I have been trying to determine what about my account 's transaction history would indicate the deposited check may not be paid. On XX/XX/XXXX, I called XXXX and spoke with XXXX. I asked XXXX to give me the following information regarding my accounts with the bank. I have had a checking and savings account with the bank since midXXXX ( XX/XX/XXXX ). I asked XXXX, during that period of time, how many items had been returned and how many NSF items had occurred. XXXX was unable to provide the information. To my recollection, there have been neither any returned nor NSF items. During this same time period ( midXXXX ) through late XXXX, I also had a HELOC and an installment loan with the bank ; both of which were paid as agreed. Which brings me back to the question, " what about my account 's ( bank relationship ) transaction history would indicate the deposited check may not be paid? And, why was the availability delayed until the 8th business day after date of deposit. 

Long story short, I believe the bank is engaging in UNFAIR, DECEPTIVE AND ABUSIVE ACTS AND PRACTICES ( UDAAP ). 

I appreciate any assistance you might provide.

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