Consumer complaint received 2023-06-20 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: PNC Bank N.A.
State: NJ

Complaint narrative:
am writing to ask assistance with PNC Bank. 

Our concern is related to a mortgage we obtained with PNC Bank on XX/XX/XXXX, in the amount of {$150000.00}, interest rate /note rate of 3.390 %. At the time of application, we were instructed by PNC Bank we would receive a discount of .25 % off our interest rate if we set up a checking / savings account with PNC and an auto payment through the account. 

We do not facilitate our day-to-day banking with PNC but agreed to opening up the account due to the discount. We have followed through opening up a PNC account and auto pay through this account as agreed. Note this is an inconvenience as we do not do our day to day banking at PNC. 

At or around the beginning of COVID XXXX my wife and I discussed options to support the deposits due to PNC closing down a local branch in our grocery store and other branches having limited hours. We decided to contacted PNC to review our options through their online banking and or using our XXXX account to make the payments and forgo the discount. I contacted PNC and was told by the representative that if we remove the PNC account auto pay, we would be penalized .25 % and this would be now added to our payment. During our conversation she related the .25 % would be added to the note rate of 3.390 % that did not seem correct as we were under the impression, we were receiving a discount from the 3.390 % of .25 % or that what was represented by the PNC representatives. 

The representative asked to complete some research and get back to me regarding our questions. We did not hear back from PNC over the next month so I again called and was informed if we closed the PNC account and stopped the auto pay via this account, we would again be penalized .25 %. I asked the representative to forward a copy of all the documentations from application we were sent and executed for our review. After 2 additional attempts to receive the paperwork, we received it finally on XX/XX/XXXX. We reviewed the information and could not locate any information holding us to the auto pay or any penalties, note this matched our paperwork we retained from our closing in XXXX. 

We again contacted PNC and were again told if we close our PNC account and auto pay, we would be penalized. We requested that the representative review the paperwork, on XX/XX/XXXX, we received a letter from PNC that our rate of 3.39 % includes the discount ( it did not state what the discount was ) but did not address the auto pay or closing the account that was our original questions. 

We contacted PNC I contacted PNC to review as it did not address our concerns and was told that I need to review the paperwork again and again threatened with a penalty if we removed the auto pay. I asked that this issue be escalated. We did not hear back from PNC for several months via many many attempts, but was finally was contacted by XXXX XXXX from their escalation team in XXXX of XXXX. XXXX relayed the same information the previous representative relayed but I asked XXXX to research that he agreed to complete. XXXX completed his research and in XXXX of XXXX he relayed that PNC had made an error and we could now close the PNC account auto pay without penalty. He also stated the discount was in our rate of 3.39 % even though we were told we would receive a discount if we opened up a PNC account and set up auto pay. 

We requested XXXX to follow-up with written confirmation via email or mail for our protection that seemed a reasonable request due to the historical amount of misinformation. XXXX communicated he could not personally put this in writing that appeared odd but would submit a request. When asked for a timeline he refused but told me he would be in touch, but written correspondence can take a very long time. That was over four months ago, per my records I have contacted XXXX over twelve times for an update, but he will not return a call or provide any additional information. 

The end of XX/XX/XXXX I decided to contact PNC customer care center and was put through to a supervisor named XXXX XXXX. XXXX read the notes from my file and stated he would communicated my request from an update but would not provide XXXX XXXX supervisor name in case I did not receive an update. I had not received an so on XX/XX/XXXX I visited a local PNC branch and spoke to XXXX XXXX / Branch Banker in effort to receive an update and request for assistance. XXXX stated he would assist and provide an update, but again he stated per their policy if I closed the account / auto pay we would incur a penalty. 

I am asking for your intervention to obtain written assurance from PNC I will not penalized for closing my auto pay and my consumer account. I fully understand business can makes mistakes, but PNC conduct can be defined as deceptive and misleading. 

I can only imagine how many consumers PNC are misleading by requiring them to open up accounts through these deceptive practices and conduct. 

We have attempting to resolve this matter for over 2 years so we appreciate, and I believe other consumers would benefit from your review and investigation. 

Thank you, XXXX XXXX XXXX XXXX XXXX XXXX NJ XXXX XXXX

Company response to consumer: Closed with explanation