Checking or savings account -- Managing an account -- Complaint #4642285

Complaint Overview

Complaint ID: 4642285

Company: Axos Financial, INC.

Product: Checking or savings account

Sub-Product: Checking account

Issue: Managing an account

Sub-Issue: Deposits and withdrawals

State: Michigan

ZIP Code: 496XX

Date Received: 2021-08-18T12:00:00-05:00

Date Sent to Company: 2021-08-18T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

I opened a checking account with Axos bank in XXXX-XX/XX/2021 because my credit union does not allow the initiation of a wire transfer online but Axos bank claimed they did, since theyre an online-only bank. My credit union is local, I was out of state and I needed to make some wire transfers so I linked my other credit union checking account with this new account at Axos on XX/XX/XXXX and moved {$3800.00} from my other checking account to this one at Axos on XX/XX/XXXX. Once the money cleared on Friday XX/XX/XXXX, I made a wire transfer request. I made some errors in my request so it wasnt processed and on Monday XX/XX/XXXX, Axos sent me a message in my online banking portal explaining why. That same day I modified my wire request and resubmitted it. It wasnt processed and instead Axos sent me an email the next day, XX/XX/XXXX, informing me that they needed to confirm that I owned the other checking account I linked and from where the {$3800.00} came. In order to do this, the message continued, I would need to send them an image of a void check that proves that I am a signer for the linked account or a recent account statement. The next day, XX/XX/XXXX, I sent them an image of a void check clearly showing that Im a signer for the linked account. I logged into my online banking portal on XX/XX/XXXX hoping to see a message from Axos acknowledging that they had received the void check but there was none. Instead I saw that they had frozen my account : I couldnt move money in or out. I sent them another message that day asking why they froze my account even though I had done exactly what they asked of me. I called them on the phone on XX/XX/XXXX and they claimed that the issue would be resolved. They sent me a message on XX/XX/XXXX, saying they couldnt find the void check I sent them so I re-sent the void check again that day. I called them on the phone again on Monday XX/XX/XXXX and I received a message from them on my online banking portal later that day. They said they had received the check and had forwarded it to the appropriate department for review. I waited patiently throughout the week for another message from them but none came. So on Friday XX/XX/XXXX I called them yet again and later sent them a message expressing my frustrations with their service and demanding that they resolve the issue as soon as possible. When I received no message from them I called them on the XXXX and again yesterday, XX/XX/XXXX. They sent a message today, XX/XX/XXXX, and its yet another apology. I have no idea how long it will take them to resolve this issue. Their customer care representatives are unhelpful and clueless. They refused to let me speak with any of the folks in charge of my account. Please help me CFPB. Im at my wits end.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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• Axos Financial, INC. Company Profile
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