Consumer complaint received 2026-01-02 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: U.S. BANCORP
State: CA

Complaint narrative:
Issue : Failure to remit funds after account closure, unauthorized trading, and XXXX day delay. 

I requested the closure of my XXXX XXXX XXXX account ( ending in XXXX ) and the transfer of my funds on XX/XX/XXXX. As of XX/XX/XXXX ( 102 days later ), U.S. Bank is still withholding my capital. 

Timeline of Failures : XXXX. XX/XX/XXXX Account Opening Failures ( XXXX ) : Due to closing escrow, I urgently needed to move assets. U.S. Bank sat on my completed XXXX  forms for 12 days before sending them to my other institutions, providing no status updates during the delay. 

XXXX. Unauthorized Trading & Breach of Trust : Immediately upon receiving my assets, XXXX shares of XXXX  were sold without my approval, directly violating an explicit email agreement with my account manager, XXXX XXXX. The proceeds were used to purchase the U.S. Bank XXXX money market fund against my will. 

XXXX. Total Lack of Value ( XXXX XXXX XXXX  Fee ) : During the entire relationship, US Bank delayed or ignored at every opportunity. An IRA transfer request I initiated was completely ignored, and a financial report I requested took over a month to complete and then was never delivered to me. I had XXXX XXXX  meeting to meet my account manager and XXXX phone meeting to request the report I didn't receive. Where is the value in exchange for the XXXX  fee? 

XXXX. XXXX XXXX XXXX XXXX : Manual updates to my home address via US Bank 's website returned an error, so I had to email them to do this simple task. After being assured via email that they had updated my address on XX/XX/XXXX, I discovered three months later that sensitive statements were still being mailed to my previous residence. So I again asked for them to update my address and on XX/XX/XXXX was again assured it had been updated, yet on XX/XX/XXXX the account closure team still sent closure confirmation to my previous address. Furthermore, during my attempts to transfer out, my manager demonstrated a lack of basic institutional knowledge, failing to provide the bank 's own DTC number. 

XXXX. Failure to Liquidate ( XXXX ) : During my outbound XXXX  transfer, which I informed my account manager of on XX/XX/XXXX, I repeatedly asked US Bank to sell the XXXX fund to enable a full transfer. This request was ignored, forcing me to settle for a partial transfer and struggle for the next XXXX days to receive my funds. 

XXXX. Fee Dispute : A {$1000.00} " early termination fee '' was debited from my account. Requests for proof of my agreement to this fee were ignored. While U.S. Bank eventually agreed to waive/reverse this on XX/XX/XXXX after I made a formal complaint, they have chosen not to refund the AUM fees XXXX 

XXXX. Outbound ACH Delay : I formally requested my final ACH transfer on XX/XX/XXXX. There has been many emails and calls since then ( for over 100 days ) trying to get this very simple thing done. Why are they withholding my funds? How is this legal? 

XXXX. Documented Admission of Failure ( XX/XX/XXXX ) : After I escalated the missing funds again, Trust XXXX XXXX XXXX admitted via email that a XX/XX/XXXX transfer attempt failed and that my funds were being held in a " suspense account '' internally. He promised the funds would be sent " shortly. '' XXXX. Current Status ( XX/XX/XXXX ) : It has been three weeks since the bank 's last promise and 102 days since my initial request. My online access has been revoked, and the bank has failed to provide a trace number or proof of remittance.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation