Checking or savings account -- Managing an account -- Complaint #17753825
Complaint Overview
Complaint ID: 17753825
Company: Discover Bank
Product: Checking or savings account
Sub-Product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-Issue: Problem with fees or penalties
State: California
ZIP Code: 94061
Date Received: 2025-11-22T12:00:00-05:00
Date Sent to Company: 2025-11-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year>, my husband called Discover on my behalf to request early withdrawals from several of my CDs. I was present during the call. During the call, the representative stated only that a penalty would apply, but did not disclose the penalty amounts or explain how the penalties would be calculated for any of the CDs. No penalty detailssuch as that a XXXX CD would incur a six-month interest penaltywere provided prior to the transactions. The representative proceeded to close all three CDs during the same call. XXXX of the CDs, both XXXX terms, were assessed a XXXX-month interest penalty each. A third, newly renewed CD, received a XXXX-month penalty. All penalties were deducted immediately, before any penalty structure or specific amounts were explained. Only after the withdrawals had already been completed did my husband question why the deductions were so large. At that pointafter all three CDs were already closedthe representative finally explained that XXXX CDs incur a XXXX-month interest penalty. If this information had been disclosed before processing the closures, we would not have proceeded. The penalties deducted from the CDs were substantial, particularly the XXXX CDs assessed XXXX months of interest each. A separate follow-up call later that evening was made solely to ask whether a refund or adjustment might be possible once we realized the penalties had already been deducted. I later attempted to resolve the issue with Discover. On XX/XX/year>, Discovers Executive Office informed me that my case was under review, but more than a month has passed with no written determination, despite my request for written communication. Instead, Discover attempted only phone contact and has not provided any written results. Because full penalty information was not provided prior to authorization and Discover has significantly delayed written communication, I am requesting CFPB assistance.
Frequently Asked Questions
What is Complaint #17753825 about?
Complaint #17753825 was filed against Discover Bank regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2025-11-22T12:00:00-05:00.
How did Discover Bank 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 Discover Bank?
Yes, visit the Discover Bank company profile at readthecomplaint.com/company/discover-bank 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.