Checking or savings account -- Managing an account -- Complaint #11263913
Complaint Overview
Complaint ID: 11263913
Company: American Express Company
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 91406
Date Received: 2024-12-25T12:00:00-05:00
Date Sent to Company: 2024-12-25T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened a savings account online, and after completing the account setup, I mailed a check on XXXX XXXX, XXXX, along with a letter of instruction to deposit the funds into the newly opened account. The check was written to me by XXXX XXXX XXXX XXXX After the check was deposited, I contacted the bank and was informed that the check would be held until XXXX XXXX, XXXX. On XXXX XXXX, XXXX, my account showed an available balance of ** $ XXXX, which reflected the full amount of the check. However, when I attempted to transfer funds from my account, I received the following message : * '' You can't make transfers at this time. Your account functionality is limited. Please call XXXX. " * I called the number provided and spoke with a customer service agent. After asking me a few questions, the agent placed me on hold. When they returned, the agent informed me that my account had been closed. When I asked when the account was closed, the agent stated that it was closed that very day. I then inquired about the funds remaining in the account. The agent told me that a check would be mailed to XXXX XXXX XXXX XXXX I expressed my confusion, stating that I had been the one who mailed the check, and it did not make sense to return it to XXXX XXXX XXXX. The agent could not provide any further explanation, but mentioned that the account was closed for *business reasons* and offered no additional details. This situation has caused significant hardship for me. The funds in that account represented my entire savings, and I am now unable to pay my rent and other bills. I feel as though I am being treated unfairly and without proper explanation, and this has caused considerable distress. I am seeking clarification and resolution of this matter as soon as possible.
Frequently Asked Questions
What is Complaint #11263913 about?
Complaint #11263913 was filed against American Express Company regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-12-25T12:00:00-05:00.
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 (Checking or savings account) 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.