Consumer complaint received 2017-01-03 00:00:00
Product: Bank account or service — Checking account
Issue: Deposits and withdrawals — 
Company: U.S. BANCORP
State: MN

Complaint narrative:
On XXXX XXXX we were advised our Business Checking Account was overdrawn as a result of a {$600.00} withdrawal paying a XXXX Account for some XXXX with the name of XXXX XXXX. We contacted XXXX and they confirmed the payment was made and that our bank could ask for a reversal of the transaction. We went to the Bank and learned that was n't to happen. They informed us that we would have to submit a Fraud claim and wait 90 days for them to investigate a matter that should have been caught at the processing level. There is nothing on this check to indicate it is any thing but a fake check. In the interim they charged us with numerous overdraft fees, which they have reversed with the exception of XXXX. They submitted a Fraud Claim stating it was on an ACH withdrawal and advised us we needed to open a new business account which we immediately did. They assured us our money would be placed back in our account while they were investigating the claim. They helped us complete the forms and 1 week later we learned the Fraud was denied as they stated it was not an ACH withdrawal but an unauthorized Draft and we would need to resubmit. Back to the bank where they again helped us complete the forms. We furnished the bank with XXXX outstanding checks and our first 7 days of automatic withdrawals. We were assured us they would clear the checks that we had written and cover any automatic deducts we had coming up. We were also advised that our Business Check Card would remain active. On XXXX XXXX I was advised my check card could not be processed. I was at a business meeting with XXXX fellow business affililiates and now I 'm told my card could not be processed. There was over {$6000.00} in that account that day. We are still getting hit for auto deducts that are being returned for " Account Closed '' and fines, fees, etc. continue to mount. Today, we were advised for the 3rd time they could not process our fraud claim because the bank submitted it wrong again. This is going on the 4th return of our Fraud Claim each XXXX assisted by the Bank Business Management team. How can we be reassured this fraud case will ever be processed when their own banking team does n't know how to do it. We want out {$600.00} replaced, they are n't out any monies as XXXX has agreed to return the funds to them. Our concern mounts as they continue to return drafts, etc. and depleting our new account. This is 30 days from the date we filed the original claim and we are back to starting over. If a check like this can be processed through a business account how can any of us be protected. I implemented every precaution on this account that was available. Nothing but our account number is correct, everything on here is clearly made up including the number to XXXX XXXX XXXX and a check number that is so out of sequence. We are on XXXX and the fake check states XXXX with a XXXX U.S. Bank location. We want to know why the business manager ca n't assist in processing this type of Fraud Claim? We have faxed the 4th Fraud claim form in which starts the clock over for another 90 days. Why does n't the bank see this was a clear error on the bank 's part and reverse this monies. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX MN

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