Consumer complaint received 2025-01-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: VW Credit
State: AR

Complaint narrative:
This has been going on since XX/XX/XXXX. Deposited a check from XXXX XXXX XXXX for {$5500.00} in XX/XX/XXXX through mobile deposit to account XXXX. XXXX received funds from XXXX and then closed my account retaining same funds stating that they needed to speak with VW Credit regarding validity of funds being mine to fix the hail damage on my car. Provided letters, lien release and multiple phone numbers to chase. They refuse to disburse funds stating that the phone numbers are not verified. The phone numbers are listed on the Internet and all vw correspondence. Representatives refuse to disburse funds. It has been 20 months. I want my money. The car was traded in and paid off at VW Credit on XX/XX/XXXX. 

Attachments XXXX XXXX XXXX ( XXXX MB ) XXXX XXXX ( XXXX MB ) View full complaint Sent to company Status Sent to company on XX/XX/XXXX We've sent your complaint to the company, and we will let you know when they respond. 

Their response should include the steps they took, or will take, to address your complaint. 

XXXX XXXX  XXXX responded stating that they have reviewed my account, and we dont show an active lien XXXX We dont show that your account is an interest-bearing account. We restricted your account ending in XXXX for closure on XX/XX/XXXX, because you deposited a multiple payee item that was missing endorsements. The check is payable to you and Volkswagen Credit, but it is missing an endorsement from Volkswagen Credit. We placed {$5500.00} in suspense until the third party verified the deposit using a telephone number that meets our risk tool requirements, allowing you to deposit without their endorsement. We completed an additional review and placed an outbound call to the payee Volkswagen Credit at XXXX. They have confirmed that the item is not valid without their endorsement. The Payee stated that you should first contact them about the check to submit any required documents needed to negotiate it. Then, the item should be mailed to the Payee for you to obtain the proper endorsement before attempting to negotiate the check. The Deposit Account Agreement explains that we may decline or prevent any or all transactions to or from your account and remove funds from your account to hold them pending investigation. It also allows us to close an account, other than a CD, at any time, for any reason or no reason, without giving a reason, and without prior notice. We gave you a copy of the agreement when you opened the account. You can see the current agreement on chase.com. I see that this is there but the problem is that VW Credit states that they do not have an interest in this check when I call. I have spoken with multiple people at VW Credit over the past 20 months. They have issued lien release and statement that they have no balance due on the XXXX XXXX XXXX that is the damaged vehicle from the XXXX claim for hail damage. XXXX says this is not sufficient and VW Credit states that they will do nothing more as the account is closed and paid in full. I just want my money.

Company response to consumer: Closed with explanation