Consumer complaint received 2026-03-24 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Funds not received from closed account
Company: AXOS FINANCIAL, INC.
State: NC

Complaint narrative:
Subject : Updated Complaint Continued Failure to Provide Traceable Documentation and Access to Funds Financial Institution : Axos XXXX Account Holder : XXXX XXXX Amount at Issue : {$35000.00} Account Restriction Date : XX/XX/year> Date Funds Allegedly Returned : XX/XX/year> Network Settlement Date Provided by Bank : XX/XX/year> XXXX XXXX Number : XXXX I am submitting this updated complaint regarding Axos XXXX handling of {$35000.00} in funds removed from my account following an account restriction on XX/XX/year>. On XX/XX/year>, Axos XXXX restricted my account after I attempted to close my relationship and transfer my funds to another financial institution. The bank stated that identity verification was required. They sent multiple verification links and QR codes, all of which were broken and did not function. I contacted the bank repeatedly to resolve the issue. During these calls, I provided my full Social Security number, address, email, answered security questions, and provided my security phrase. Despite completing identity verification verbally, the bank maintained the account restriction and refused to release my funds. Axos XXXX subsequently informed me that the funds were returned to the originating financial institution on XX/XX/year> due to incomplete identity verification. However, the bank did not provide documentation confirming the return at that time until today, XX/XX/year>. Despite nothing turning up with this information, they have made it my responsibility to figure out what happened to the payment and provided no other potential resolution. Axos XXXX has provided changing and inconsistent explanations regarding the transfer. Initially, they stated the funds would be received within XXXX to XXXX business days. When the funds were not received, they changed the timeframe to XXXX to XXXX business days. Most recently, they provided a network settlement date of XX/XX/year> and stated that the funds were returned through a person to person payment service used by the originating bank, but before XX/XX/year>, they had stated on a recorded line the payment was sent via XXXX. Axos XXXX has also stated that they do not have access to routing or account information associated with the returned transfer and advised me to contact the payment service myself to locate the funds. This explanation is concerning because Axos XXXX initiated the return of funds and should therefore be able to provide standard transaction documentation confirming where the funds were sent and whether they were successfully delivered. There are also complaints online of other clients who mysteriously had their accounts suspended or restricted, weeks or months of inconsistent information, and no action until attorneys got involved. Despite repeated requests, Axos XXXX has still not provided standard documentation confirming the disposition of my funds, including : A return code or reason code A traceable transaction confirmation ( the one provided has not resulted in success in locating the alleged payment ) Documentation identifying the financial institution or payment network that received the returned funds Confirmation of the current location of the funds Evidence that the returned funds were successfully delivered to the originating institution I have made approximately XXXX calls to Axos XXXX since XX/XX/year> and have requested to speak with a supervisor at least XXXX times. My requests were not returned for approximately XXXX weeks. The first time I was able to speak with someone in a supervisory role occurred on XX/XX/year> after I indicated that I had consulted with legal counsel regarding next steps. As of the date of this complaint, the receiving financial institution has confirmed that no returned funds have been received. I continue to be denied access to my own funds, and Axos XXXX has not provided documentation confirming the location or status of the transfer.

Company response to consumer: Closed with explanation