Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #11107753
Complaint Overview
Complaint ID: 11107753
Company: American Express Company
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Money was not available when promised
State: California
ZIP Code: 92688
Date Received: 2024-12-10T12:00:00-05:00
Date Sent to Company: 2024-12-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Amex Bank advised me today ( XX/XX/year> ) a bank-to-bank transfer of my IRA funds will take XXXX weeks for them to complete on their end. There is nowhere in the Amex Bank Deposit Agreement that a transfer of funds will extend such an exorbitant period. Amex Bank has created this transfer delay internally, caused by mismanagement / poor customer communications and inadequate staffing. In the meantime I'm losing opportunity costs on over {$250000.00} pending transfer from Amex Bank. I have called Amex Bank 5 times over the last week to no avail. Complaints lodged internally # XXXX XXXX XXXXXXXX. Amex Bank has confirmed the transfer paperwork was received XX/XX/year>.
Frequently Asked Questions
What is Complaint #11107753 about?
Complaint #11107753 was filed against American Express Company regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2024-12-10T12:00:00-05:00.
How did American Express Company 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 (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against American Express Company?
Yes, visit the American Express Company company profile at readthecomplaint.com/company/american-express-company 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.