Consumer complaint received 2025-06-30 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Confusing or missing disclosures
Company: SANTANDER HOLDINGS USA, INC.
State: NY

Complaint narrative:
Hi CFPB : On XX/XX/XXXX, I intended to transfer {$5000.00} from my Santander Bank checking account ( XXXX XXXXXXXX ) to my XXXX XXXX  account. 

When I initiated the transfer on the Santander mobile app, only one outside account information showed up under the Transfer To section was XXXX ( XXXX XXXX ). I chose that XXXX account and clicked the Transfer button. 

The reason that I chose that K account because I thought that was my XXXX  account. I opened this checking account ( XXXX XXXX  ) in XXXX this year and hadnt made any money transfers to anyone at that point. The only money transfer I had was {$25.00} from my XXXX account, therefore the only outside account information saved under my online profile should be my XXXX account. 

However, it turned out that XXXX account belongs to my old landlord XXXX. It is his XXXX XXXX account. Santander online system ported my bill-pay directory from the old Santander checking account ( XXXX XXXXXXXX ) that I closed in XXXX to this new account. 

I closed that ( XXXX XXXXXXXX ) because I wanted to start fresh with a clean transaction history. I knew that banks are still required to keep records of customers transactions for a certain period, typically up to 10 years. However, the banks do NOT port customs sensitive data from the old account to the new account. Both XXXX and XXXX XXXX have confirmed that. Customers need to manually input these information in the new account. 

I was left in the dark the entire time. I would have deleted the old transaction information that I had back in XXXX if I knew that it has been ported from the old account to the new account. 

Santander engaged in an unfair practice by deliberately and unilateral porting my sensitive account information without seeking my authorization or providing timely notice.

Financial institutions are responsible for safeguarding customers sensitive information. Bill-pay directory and recurring ACH orders are all considered sensitive data. Santander failed to keep mine safe.

Even Santanders own technology team confirmed that they do not transfer sensitive details like bank or credit card information from the old closed account to the new account ; this information needs to be manually entered. 

On XX/XX/XXXX, right after this incident, I emailed XXXX and asked if he can return that {$5000.00} to me, but he hasnt written back to me. I lost {$5000.00}. 

I filed two claims with Santander and both claims were declined.

I would like Santander Bank, N.A. to compensate me for the {$5000.00} loss it caused. 

A financial institutions unilateral reopening of deposit accounts that consumers previously closed can constitute a violation of the CFPAs probation on unfair acts or practices. I respectfully request CFPB to investigate this incident and Santanders practices regarding mishandling and unilateral porting customers sensitive data from the closed accounts to new accounts without gaining customer consent.

I have enclosed two screenshots of the money transfers that I made to him back in XXXX with my old account ( XXXX XXXXXXXX ) and XXXX screenshot for the {$5000.00} money transfer with this new account ( XXXX XXXXXXXX ). 

Thank you,

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