Consumer complaint received 2025-02-14 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: TRANSCARD, LLC
State: MI

Complaint narrative:
I have a savings account through XXXX XXXX XXXX called XXXX that I have had for many years. It started when this company announced that they would no longer manage any savings accounts for their customers and informed me they are ending the program. First, they announced they would be closing the program back in XXXX, then I was told by them that they have so many clients until they were extending time and possibly continuing the program which happened in my case. About XX/XX/XXXX, they abruptly closed my account causing issues with purchases I already had. I was confused because this was contrary to what I was told from the first representative. We were both confused as to why my account was still opened in XX/XX/XXXX, but it confirmed what I was told by other representatives that they were indeed extending the program. They never informed me they it was now my account that would be abruptly closed. I only discovered it when I went to use my card and it wouldn't go through. I was immediately told that a check was already issued and that I would receive it in XXXX business days. I waited until that time, and the check did not arrive nor was I able to access any funds during this time to buy necessities that I needed such as groceries gas and other bills such as my mortgage. When the date went passed on XX/XX/XXXX, I immediately called and spoke with the first representative about the check. I was furious because the deadline passed and there was no check for XXXX business days, once again, I had no money to to pay for the things I needed. I then spoke to XXXX, a supervisor about why I did not receive the check and that I felt someone possibly could have stolen it because I had already informed this company that I was a victim of identity theft in which I have an open case with XXXX XXXX XXXX XXXX  because someone stole my mail, and they were caught! I warned this company a week before XX/XX/XXXX about my mail and now on XX/XX/XXXX, they have sent the check out anyway. I immediately thought that someone had stolen my check but XXXX informed me that they never sent the check out and that I will have to wait another XXXX  days. I am highly disappointed because I have a lot of money in this account, and they are making me wait all over again with different excuses as to why I need to wait weeks at a time with no access to my funds. I never experienced anything like this with a bank. There was also another problem when they told me that they closed the account on XX/XX/XXXX, I found out that was not accurate despite this noted on my account that it was closed ( Please see proof ). I had made a purchase for an item weeks before XX/XX/XXXX, and I returned it back to the store. When I called the store where the item was purchased and asked for a gift card since XXXX XXXX told me my account was closed, it was the store that told me that XXXX XXXX plan had already being paid the money already and they didnt believe my account was closed. I was furious because XXXX XXXX XXXX told me that my account was already closed but somehow, they accepted a refund for a transaction that happened on XX/XX/XXXX. ( Please see attached proof ). When I asked the representative on XX/XX/XXXX about the refund amount of {$110.00}, I was told that my account was partially closed and that's why they accepted my refund. To make matters worse, they never told me about this refund. The problem I have with this bank is that I am going for long periods of time with no access to my funds. They keep coming up with several different excuses and extending the deadlines and not informing me of anything. I am afraid something probably happened with the funds of {$2500.00} on their end and they kept dragging their feet to give me my money. I even asked XXXX if there was another alternative way ( quicker way ) I could be issued the money that I desperately need seeing the mail situation and the long period I went with no access to my funds, and she informed me that I must keep waiting on the check in the mail. I am highly disappointed with how they treat me and making me wait weeks at a time just to be told again that I must wait again. I have bills to pay with and this company does not seem to care. I can almost guarantee you that if CFPB does not intervene, when the XXXX days go past again, they are going to come up with another excuse as to why I can not access these funds. I think everything they are doing is very strange and should be investigated.

Company response to consumer: Closed with explanation