Consumer complaint received 2025-03-31 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Funds not received from closed account
Company: AMERICAN EXPRESS COMPANY
State: CA

Complaint narrative:
American Express closed my High-Yield Savings Account without any prior warning or explanation, stating only that it was a business decision. This vague explanation provided me with XXXX context or legitimate reasoning for why my account was closed. I was never informed via email, mail, secure message, or any official channel, and when I asked for written documentation explaining the closure, I was told no repeatedly. I was also told that when American Express closes an account due to a business decision, they do not notify account holders in writing and that this is simply how it works. This lack of transparency and accountability is unacceptable. 

At the time of closure, my account held {$7300.00}, which I have still not received. I have been forced to make multiple calls, re-explain my situation every time, and have received inconsistent, conflicting, and often incorrect information from different representatives. I no longer have access to the account, and American Express continues to place internal notes without informing me, notes that all have contained time-sensitive actions I need to take, yet I am given no access or visibility or communication On XX/XX/XXXX, I was transferred to the Account Protection Department XXXX A representative told me a check would be mailed to my current address and should arrive within XXXX business days. I confirmed my address twice, and the representative read it back to me correctly. I was told everything was in order and that I simply needed to wait for the check to arrive. 

On XX/XX/XXXX, I called again to confirm the status, and was told that the check had not been mailed. A new note had been added to my account instructing me to call the Account Protection Department again on Monday, XX/XX/XXXX, but I was never informed of this note, and would not have known unless I called. I filed a complaint during that call and informed the representative that if this issue was not resolved, I would escalate it by filing a complaint with the Consumer Financial Protection Bureau. I also stated clearly that if I do not receive my funds and American Express continues to extend this issue unnecessarily, by sending me in circles and failing to provide clear answers, I will not hesitate to take legal action as well. 

On XX/XX/XXXX, I called back, re-explained everything again, and confirmed my address again. I made it very clear that placing notes internally without notifying me is completely unacceptable. I then called two more times that day to speak with different representatives to ensure : The check would be mailed, My address was correct, and No new notes would be added without informing me. 

Later that week, on Thursday, XX/XX/XXXX, I called again. A representative told me the check had already been mailed, that it would arrive in XXXX business days, and that it was going to the correct address. When I asked what would happen if it didnt arrive, they told me there were alternative ways to receive the funds, such as a wire transfer. 

Then, on Sunday, XX/XX/XXXX, I called again to double-check. A representative initially said there was a note on my account, then corrected himself mid-call and said that the note dated XX/XX/XXXX showed the check had been mailed and would arrive in XXXX business days. This is unacceptable and extremely frustrating. I was verbally told earlier that the check would arrive in XXXX business days, and now I am suddenly being told XXXX business days by someone reading the internal notes. The lack of clarity and consistency is outrageous. 

This has caused me severe financial hardship and emotional distress. I have been left without access to my own money for weeks and have had to take time out of my work and personal life to chase down updates that should have been proactively communicated to me. Ive been repeatedly misled, misinformed, and ignored. I have done everything on my end to comply, but American Express has failed to meet even the most basic standards of accountability and transparency. 

*Note : The address that American Express has as my billing account is my previous home address. I provided them with my current home address for the check to be mailed to. For this complaint, American Express can look me up via billing address that I entered. I can not provide the account number as they closed my account without my knowledge and I never informed me.

Company response to consumer: Closed with monetary relief