Consumer complaint received 2025-03-14 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: Relay Financial (US), Corp.
State: GA

Complaint narrative:
I am writing to formally request an urgent review and further investigation into a serious case of fraudulent activity on my Relay account on XX/XX/XXXX posted on XX/XX/XXXX, which has resulted in theI am filing this formal complaint against Relay Financial for its unethical and potentially discriminatory handling of my account closure and the withholding of my provisional credit. While I recognize that their actions may be legally permissible, the way they have executed them is deeply troubling and raises serious concerns about their business practices. 

On XX/XX/XXXX, Relay issued a provisional credit to my account in response to fraudulent transactions. However, because my account remains frozen, I have no access to these fundscompletely defeating the purpose of a provisional credit. The fact that my money was acceptable for deposit when I transferred over {$30000.00} from the sale of my home, but suddenly I was deemed " non-compliant '' only after I reported fraud, is highly suspect and feels intentionally punitive. If there were truly compliance concerns, those should have been addressed before my account was funded, not conveniently after I detected and disputed fraudulent activity. 

This situation has caused extreme financial hardship. I have been forced to delay critical payments, including bills and direct deposits, to avoid further entrapment. Additionally, I am scheduled to leave the country on XX/XX/XXXX, and being unable to access my own funds has placed me in an unnecessary and avoidable financial crisis. Relay has informed me that my provisional credit will remain inaccessible until XXXX completes its investigation, which could take XXXX days. After that, a check will be mailedcausing even further delays. To make matters worse, they have blocked my ability to wire funds or transfer money to another account, and they have even blocked my card, preventing access to my own funds in any form. 

This ordeal has not only caused me severe financial distress but also significant emotional and mental strain. Relay Financial 's handling of this situation is unacceptable, and their policies are being used as a weapon against the very customers they should be protecting. I believe this practice warrants investigation, as it is causing undue hardship on innocent customers who are simply trying to protect their own finances.

I am requesting the Consumer Financial Protection Bureau to investigate Relay Financial 's handling of account closures, fund access restrictions, and the misuse of provisional credits. No consumer should have to endure what I have been subjected to, and I urge immediate action to prevent others from experiencing the same financial harm. 

Sincerely, XXXX XXXX unauthorized withdrawal of over {$3500.00}. 
Additionally : I was the one who initially identified and reported the fraudulent activity on my account. Despite this, Relay continued to allow these transactions until I took action and froze my card. I have always conducted legitimate financial transactions, and I take strong issue with the claim that my account activity raised red flags. 
To clarify, the funds in my account originated from the sale of my home, which I reinvested into another property. I have operated [ XXXX XXXX ] since XX/XX/year>, and a portion of the wire transfer from my home sale was deposited into my Relay account, while the remaining portion was sent to another account. I have provided all necessary documentation, including closing statements and a payoff letter from my mortgage lender, to verify the source of these funds. Additionally, as part of my investment strategy, I reinvested these proceeds into a new real estate development in XXXX, which required an international wire transfer. 

Despite my transparency, Relay not only failed to protect my account from fraudulent activity but also closed my account in the middle of an ongoing dispute. Now, instead of resolving the issue efficiently, I am forced to wait for a check to be mailed to me, causing further inconvenience.

Company response to consumer: Closed with explanation