Consumer complaint received 2020-11-30 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: AXOS FINANCIAL, INC.
State: PA

Complaint narrative:
On Saturday, XX/XX/20, I received a paper check from my employer and deposited it into my Axos bank account using their mobile app. On Wednesday, XX/XX/20, I realized that the checks I had ordered for my account were never delivered, so I called Axos to inform them. They opened a new account for me and placed a restriction on my account. At that time, the check that I had deposited was still processing and was not available to transfer to my new account. On Friday, XX/XX/20, the check was still not showing on my account, so I chatted with a customer service agent and asked when it would clear. The agent said it would clear on Monday, XX/XX/20. I asked if the restriction could be removed from my account, and the agents said he would ask a supervisor to remove it. 

On Monday, XX/XX/20, the check was still not available, and there was still a restriction on my account. An online transfer I had made weeks before was now showing, so I attempted to transfer that money to my new account. However, my old account did not appear on the list of accounts from which I could transfer money. I also had a support message in my account inbox stating that they could not remove the restriction and that I could transfer my money to my new account, which was false. 

I called customer service again, and the agent told me that my account was restricted because they didn't have a signature card on my account, which was note true for two reasons : 1. they do have a signature card on file, and 2. the restriction was put in place because my checks were lost in the mail. I explained this to the agent, and she put me on hold and then I was disconnected. 

I called back and explained it all again to another agent, who told me that they didn't have to restrict my account at all because they could have just canceled the checks. She also explained that when an account is restricted, money can't be transferred out of it. She said she would see if she can remove the restriction, and I explained that I was told that was not possible. So she said she would request to have the account made " visible '' so I could transfer money out of it, but that it would take 24-48 hours. She also told me that the check I had deposited would be available that day. However, I checked my account 3 hours later, and it still wasn't available. So I chatted with another agent, and he told me it would be available on Tuesday, XX/XX/20. This was after 2 other agents told me it would be available XX/XX/20. I told him that I needed to take my money out that day, and he just apologized and thanked me for my patience. 

My money is currently being held in a restricted bank account that I can not access, and no agents at Axos bank will transfer it or remove the restriction for me. My paycheck has also been on hold for 9 days, and I am behind on paying all of my bills because of it. I'm tired of being told to wait for my money to be released. I should be able to access it now.

Company response to consumer: Closed with explanation