Checking or savings account -- Managing an account -- Complaint #18321852
Complaint Overview
Complaint ID: 18321852
Company: Santander Holdings USA, INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Florida
ZIP Code: 344XX
Date Received: 2025-12-27T12:00:00-05:00
Date Sent to Company: 2025-12-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/year>, a {$5000.00} check was deposited into my Santander Bank account in person with a teller by a family member acting on my behalf. The family member presented a government-issued drivers license and provided all requested personal and deposit information at the time of the transaction. The account is not a new account. At the time of deposit, no verbal or written notice of any funds availability hold was provided to the person making the deposit, and no written notice was later provided to me. As of XX/XX/year>, no portion of the deposited funds had been made available, including the required next-business-day {$220.00}. Because no funds were available and no notice had been received, I contacted Santander Bank by phone on XX/XX/year> to inquire about the delay. During that call, Santander Bank stated for the first time that no funds would be available until XX/XX/year>. This was the first indication I received that a hold had been placed on the deposit. Santander Bank failed to make the required {$220.00} available on the next business day as required under Regulation CC, 12 CFR 229.10 ( c ). Santander Bank also failed to provide the written notice required under 12 CFR 229.13 ( g ) when delaying availability of deposited funds, including notice of the reason for the delay and the date funds would become available. Although Santander Bank ultimately released the full {$5000.00} on XX/XX/year>, this occurred after the required next-business-day availability period had already passed and without the required written notice having been provided. I am requesting that Santander Bank formally review this matter, acknowledge the Regulation CC violations, and confirm what steps have been taken to ensure compliance with federal funds availability requirements going forward.
Frequently Asked Questions
What is Complaint #18321852 about?
Complaint #18321852 was filed against Santander Holdings USA, INC. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2025-12-27T12:00:00-05:00.
How did Santander Holdings USA, INC. 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 Santander Holdings USA, INC.?
Yes, visit the Santander Holdings USA, INC. company profile at readthecomplaint.com/company/santander-holdings-usa-inc 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.