Consumer complaint received 2024-02-17 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: UPGRADE, INC.
State: NY

Complaint narrative:
Good day, I opened a Rewards Plus Checking account with Upgrade Inc. on XX/XX/24. In the first few days I was able to verify and add an external bank account as well as transfer over {$3000.00} into the new Upgrade checking account. I was planning to also open a savings account with Upgrade as they sent me an email offering a competitive APY. On XX/XX/24, as I was traveling abroad with my family and tried to log into my account to try and set up the savings account. When I logged on I noticed that my checking account was suspended. Concerned about this, I immediately reached out to the company via email to inquire about the suspension. At which time they told me they couldn't provide any information via email and I needed to call them. Out of desperation, I made the call to the bank, incurring roaming charges. During the phone call all they did was confirm the suspension. They could not provide me the reason for the suspension. Furthermore, they told me I needed to send them an income tax statement, another bank 's statement, and a picture of my driver 's license. They refused to release my funds and close my account. I was told that until all the requested documents were provided, I would not be allowed to access my funds. Meanwhile, they do not even have a secure encrypted way of transmitting these documents to them. They wanted it sent over regular email. Out of desperation, I sent all the requested documents the same day ( XX/XX/24 ). On the following day I received a response stating that they also needed me to take a selfie holding a sign showing my account number. I did that as well on XX/XX/24. When I finally came back to the US on XX/XX/24, I immediately called them as they haven't provided me with any updates and my account was still suspended. I spoke to the supervisor who informed me that two of my documents were rejected - the income tax return needed to be a signed copy and the bank statement had to have at least 5 transactions on it. I was extremely frustrated, but again they told me I couldn't have access to my own money until I submitted what they're asking for. So I sent them another bank statement on XX/XX/24. I didn't have a signed copy of income tax return so they sent me an e-sign request form for IRS 4506-C form. Today is XX/XX/24 and I am still waiting to get access to the money that belongs to me. These people would not tell me why my account is suspended or let me speak to anyone at the department that actually reviews these sorts of cases. I've had multiple bank accounts in the past and never have I been forced to provide so many of my personal documents, especially after granting me full access to the new account and then trapping my funds there with no way out. I believe this is a deceptive and illegal practice and the government needs to step in to review this and request for the bank 's immediate resolution. 

Thank you for your assistance in this matter, XXXX

Company response to consumer: Closed with explanation