Checking or savings account -- Closing an account -- Complaint #11769336
Complaint Overview
Complaint ID: 11769336
Company: American Express Company
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Fees charged for closing account
State: Pennsylvania
ZIP Code: 170XX
Date Received: 2025-01-25T12:00:00-05:00
Date Sent to Company: 2025-01-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
American Express National Bank informed me that my Traditional IRA account was being closed. It is no longer earning interest. I can rollover my account to another institution. However, 2 other institutions have informed me that I must have a Brokerage DTC number in order to rollover my IRA. American Express National Bank 's customer service chat agent, XXXX, was unable to comprehend what a DTC number even was. American Express National Bank 's customer service agent on their call on XX/XX/year> at approximately XXXXXXXX XXXX e.s.t. informed me that American Express National Bank does not have a DTC number. This requires me to take an IRA Distribution ( that I don't want to take ) and forces me to pay a penalty for an early withdrawal.
Frequently Asked Questions
What is Complaint #11769336 about?
Complaint #11769336 was filed against American Express Company regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2025-01-25T12:00:00-05:00.
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.