Consumer complaint received 2023-06-01 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: SANTANDER HOLDINGS USA, INC.
State: NJ

Complaint narrative:
I set up a business checking account with santander Bank in XXXX, NJ. The initial process took over 2 hours but that was only because of the teller 's multiple mistakes slowing the process, such as putting in the wrong email address and waiting more than an hour for it to go through. They input the wrong name, got my phone number and my email address incorrect. This is totally unacceptable. They spent most of that time trying to sell me merchant services claiming their decision is based solely on projected sales and the type of industry which was a lie because it was rejected for credit after I had already expressed my concerns about credit and they told me that wasn't a factor. Lies, mistakes and incompetence. They continue to call me the wrong name even after I corrected them multiple times. I waited for the debit card and when it came it too was incorrect. Big waste of time just because of their own mistakes which they blamed me for on multiple occasions. Last week I deposited multiple checks and hit an undisclosed monthly mobile check depositing cap and had to deposit 2 of the checks in person. Most of the funds were almost immediately available and were available for most of a week. Yesterday when I checked, they had taken XXXX  of dollars out of my available balance without any notice or explanation. I tried to call the bank, they hung up on me. I called the manager on his cell phone and he told me they were busy and it wasnt a good day for this. I am missing XXXX of dollars. Even after explaining I don't want to deal with the teller that made so many unacceptable mistakes already, the manager had that same teller call me. He told me I must be mistaken or wrong and that the funds were never there. He then told me it was because it was all 1 big check which is a lie as it was multiple smaller checks with a combined total less than the amount we were discussing in person. They placed an extended hold and I have to wait another week before it's available. How can a bank take XXXX  out of the available balance? It went from over {$5000.00} to {$900.00}. After I assured him I wasn't wrong and I do, in fact, know the status of my company 's account, considering I am the only one with access, he had to call the back office and would call me right back. Hours later he called and told me the available was just the bank " fronting money but its taking too long so they took it back '' word for word. How is this ethical or professional? This bank has provided nothing but lies and mistakes and has continually hindered my ability to operate my company. I believe financial institutions should be held to a higher standard. When the manager refused to offer an adequate explanation I waited a day and requested his superior 's contact information, his response was an angry phone call instructing me to close my account and no longer bank there. This has been an egregiously frustrating experience from the very beginning stemming directly from their incompetence and lies. I feel I was decepted by the merchant services and I demand to know how a bank can steal almost {$5000.00} and claim it'll be another week before I will have access to it, again, because it was already there and mine. I can be patient but I refuse to be continually manipulated and defrauded by this financial institution.

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