Consumer complaint received 2024-08-28 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: BMO BANK NATIONAL ASSOCIATION
State: MA

Complaint narrative:
On XX/XX/year>, I responded to an internet ad for BMO Bank which offered a checking account with the bonus that if I arranged a total of {$4000.00} of direct deposits within 90 days of account opening, I would receive a cash bonus of {$350.00} by day 100 after opening the account. 

The account was confirmed open on XX/XX/year>, through a flurry of emails confirming the account opening and full functionality of online banking including making a transfer of {$25.00} from one of my current bank accounts to the new BMO account. In addition this external account was linked for future transfers to and from the new BMO account. Allt this was accomplished on the same day I applied for the account, Saturday, XX/XX/year>. 

After opening the account and the online access through BMO online banking I arranged to have one of my clients send two ( 2 ) direct deposits to the new BMO account in furtherance of fulfilling the requirements for the {$350.00} bonus. Thus a direct deposit of {$1.00} and a second of {$400.00} was sent to my account at BMO on Monday, XX/XX/year>. 

On Monday, XX/XX/year>, I signed into online banking at BMO to make sure all was well including noting that the initial deposit of {$25.00} was credited to this account. 

To my surprise on Tuesday, XX/XX/year>, when I attempted to sign in to online banking, I was told there was an error in either the user name and password. That was a lie. The entries were correct. I tried at least three ( 3 ) times to no avail. 

I was instructed to call XXXX to resolve the problem. I called this number at XXXX XXXX  Eastern Time on XX/XX/year>. The call lasted until XXXX XXXX. I was sent through an automated algorithm and after about five ( 5 ) min spoke to XXXX who told me I need to speak to a specialist named XXXX who later came on the line. I was told by XXXX that my account was frozen and that I needed to send further information to prove my identity including a copy of my social security card, a copy of front and back of my drivers license, and proof of address with some mailing of insurance bill, utility bill, or social security sent to my present address. 

I asked XXXX why BMO lied and told me the account was functional and she had no answer. I told her this was all illegal under Massachusetts and federal law. To wit, I was told my account was open and fully functional, a known lie upon which I relied with justification to my detriment. BMO committed larceny of over {$250.00} from an XXXX  Mass resident ( I am XXXX XXXX XXXX ) since they received this money under false pretenses. This is grand larceny in Mass, a felony. Had I known BMO was going to seize my money, I would never have opened the account and would never have arranged for any direct deposits to that account. 

I supplied all the requested information and XXXX told me that the material would be sent to some " further review '' and I would have a decision in 3-5 business days. In the meantime my account was frozen and BMO has stolen my funds, a total of {$420.00}. I want my money back IMMEDIATELY.

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