Consumer complaint received 2022-05-20 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Managing an account — Problem with fees or penalties
Company: BOK FINANCIAL CORP
State: ID

Complaint narrative:
I believe the letter ( copied and pasted below ) sent to the CEO  of the Bank of Albuquerque will provide all necessary details. The Bank could never produce any disclosure but insists they were provided. Please contact me in the event you need additional details. I have attempted to resolve this with the bank all the way up to the CEO and was unable to resolve. I offered to open a 18 month CD with a balance of {$30000.00} in return for a waiver of the non-disclosed fee but yet they still refused. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, Idaho XXXX XXXX XX/XX/XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX  XXXX XXXX XXXX XXXX, New Mexico XXXX I am writing this letter to request your assistance with an issue I have been attempting to resolve with the Bank of Albuquerque. This process began XX/XX/XXXX. 
In XXXX I re-located my family to XXXX XXXX after I took a position as the XXXX XXXX XXXX  in XXXX, New Mexico. On XX/XX/XXXX I open a traditional Individual Retirement ( IRA ) Account at the Bank of Albuquerque XXXX located at XXXX XXXX XXXX in XXXX, New Mexico. At that time, I was introduced to a young lady who signed as custodian of the IRA. I do not recall the young ladys name but she had assisted me with many transactions and accounts during my tenure in XXXX. My family maintained a savings account for my young daughter at the XXXX branch and a checking account that remains open to this date. 
In XXXX, XXXX I took a position in XXXX XXXX and relocated my family to the State of Idaho. As we worked through the relocation process, we began to close bank accounts previously held in the State of New Mexico. 
I attempted to call the young lady that was of great assistance to me at the XXXX XXXX Bank of Albuquerque location only to learn that the XXXX XXXX branch had permanently closed. Upon review of the documents I received the day I opened the IRA I noted that I did not receive a business card from the young lady on the day the account was opened. I attempted to retrieve the young ladys name from the IRA documents that she signed ; however, the signature is not legible and there is no name printed below her signature on any of the documents. Due to the fact that I had no contact at the bank to inquire regarding the transfer of the IRA to the State of Idaho I made the decision to forfeit the interest and move the IRA to a credit union in Idaho. I opened an IRA in Idaho at the XXXX XXXX XXXX XXXX and signed a form, provided by the Idaho based XXXX XXXX and the form was mailed to the Bank of Albuquerque. When the transfer request was received at the Bank of Albuquerque no attempt to contact me to make me aware of penalties was made. 
When the funds were ultimately transferred to the XXXX XXXX XXXX XXXX, there was a shortage of over XXXX XXXX dollars ( {$800.00} ) from the account. 
When I contacted the Bank of Albuquerque I learned, to my surprise, that not only the interest was forfeited, but the Bank of Albuquerque had withheld a 3 percent early withdrawal penalty from the transfer. 
Upon review of the documents I was given the day I opened the account there is no mention of a 3 percent fee for closing the account prior to the maturation date of the CD. The notice ( s ) of renewal does not mention a 3 percent fee. 
I have worked through the Bank of Albuquerque complaint process up the chain of command to no avail. I offered to open a new certificate of Deposit account in the amount of {$30000.00} for up to 18 months if the 3 % fee is waived. I was told this is not possible. I find it difficult to believe the Bank of Albuquerque would rather retain the {$800.00} fee rather than come to an equitable solution to this problem. I have never in my experience felt that the Bank of Albuquerque cares more about collecting fees than it does taking care of their customers. 
I am writing to formally request that this XXXX percent fee for closing the account prior to the certificate of deposit maturation date be waived. Please return the 3 percent fee to my Select Checking account that remains open with the Bank of Albuquerque. 
If necessary, I am willing to return the funds to the Bank of Albuquerque. I believe this is an equitable solution to solving the issue. 
I would like to resolve this issue internally and not involve the FTC and other regulating authorities or the XXXX XXXX XXXX. As a valued customer of the Bank of Albuquerque I am sure you would prefer this be handled internally. I believe customer service should take precedence over the collection of fees. 


XXXX XXXX XXXX

Company response to consumer: Closed with explanation