Checking or savings account -- Managing an account -- Complaint #4712600
Complaint Overview
Complaint ID: 4712600
Company: Synchrony Financial
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Banking errors
State: Texas
ZIP Code: XXXXX
Date Received: 2021-09-11T12:00:00-05:00
Date Sent to Company: 2021-09-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Synchrony Bank consistently, in the past several years, labeled most of our deposits as " XXXX XXXX XXXX ", instead of labeling each deposit as from that specific institution where that deposit came from.. For example, when a deposit was from an external bank such as XXXX XXXX or XXXX XXXX XXXX , instead of labeling that deposit being from XXXX XXXX or XXXX XXXX XXXX XXXX Synchrony will simply label that deposit as " XXXX XXXX XXXX XXXX. This has happened to more than 100 deposits we had in our account in the last few years. Because of this practice by Synchrony Bank, there is no way we know where all those deposit came from. Such practice has prevented us from reconciling our account. As such, we do not know whether Synchrony has recorded the correct amount of deposit into our account each time. We have spoken with Synchrony multiple times. To date, Synchrony has ignored or refused to rectify this situation. Every other institution that we have banked with has a clear notation on our statement where each deposit came from. So, to me, what Synchrony is doing is quite unorthodox.
Frequently Asked Questions
What is Complaint #4712600 about?
Complaint #4712600 was filed against Synchrony Financial regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2021-09-11T12:00:00-05:00.
How did Synchrony Financial 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 Synchrony Financial?
Yes, visit the Synchrony Financial company profile at readthecomplaint.com/company/synchrony-financial 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.