Checking or savings account -- Managing an account -- Complaint #10659912
Complaint Overview
Complaint ID: 10659912
Company: Relay Financial (US), CORP.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: New Jersey
ZIP Code: 073XX
Date Received: 2024-11-01T12:00:00-05:00
Date Sent to Company: 2024-11-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year>, XXXX bank, with whom we have maintained an account for nearly XXXX years, sent an email notifying us that they had frozen our account due to over XXXX virtual cards that were left open. They requested a detailed business description along with past invoices as part of this abrupt and unprecedented decision. Be mindful that this is XXXX XXXX XXXX account- not a fresh business - meaning it already went through all the checks. We only discovered this email on XX/XX/XXXX and promptly complied, providing the requested invoices. On the same day, we contacted the bank to clarify their policy on virtual cards. A representative informed us that the maximum number of virtual cards permitted is XXXX active cards at any time. Upon learning this, we explained that any breach of this limit was purely accidentalunused cards were inadvertently left open due to an internal oversight. Nonetheless, the bank assured us they would escalate our case to the compliance team. However, rather than resolving the matter after I ( the business owner ) personally offered a clear and reasonable explanation over the phone, the compliance team responded with yet another intrusive demand : they now required access to email communications between our company and our clients. This level of scrutiny is unwarranted and a gross invasion of privacy, especially for a simple administrative oversight like failing to close unused virtual cards. Not only has the bank withheld our funds without immediate reinstatement following our explanations, but they are also actively probing into sensitive internal communications. Such actions demonstrate a grave disregard for the trust we placed in this institution over the past two years. This response is entirely disproportionate and unacceptable.
Frequently Asked Questions
What is Complaint #10659912 about?
Complaint #10659912 was filed against Relay Financial (US), CORP. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-11-01T12:00:00-05:00.
How did Relay Financial (US), CORP. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Relay Financial (US), CORP.?
Yes, visit the Relay Financial (US), CORP. company profile at readthecomplaint.com/company/relay-financial-us-corp to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.