Money transfer, virtual currency, or money service -- Money was not available when promised -- Complaint #4961165
Complaint Overview
Complaint ID: 4961165
Company: Optum Bank, INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Domestic (US) money transfer
Issue: Money was not available when promised
State: Missouri
ZIP Code: 631XX
Date Received: 2021-11-30T12:00:00-05:00
Date Sent to Company: 2021-11-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I submitted a Trustee to Trustee form from my new bank to my old HAS bank ( XXXX ) and they they mailed a check to my new XXXX bank ( Optum Financial ) on XXXX. XXXX is showing that the check was cashed on XX/XX/XXXX but Optum has been unable to find my funds and deposit them in my account. I contacted Optum in mid-XXXX asking where my XXXX funds were and they told me that it can take 6-8 weeks for a transfer to be completed and to wait until XXXX to see if the funds were deposited. I contacted them the week of XX/XX/XXXX because my funds were still not in my account and they told me that they would launch an inquiry. During this time I received the check number and amount as well as where it was mailed to from XXXX. Optum completed an inquiry and never contacted me to let me know that they could not find the check. I had to follow-up with Optum only to find out that they had closed the inquiry and could not find my funds. I double checked the mailing address, check #, check amount, and check clearing date with XXXX. XXXX was also able to send me a copy of the check. I reached back out to Optum on XX/XX/XXXX and told them that the check had been written to Optum Bank XXXX Optum Bank changed to Optum Financial so they are the same institution ) and the CSR so that it was not their problem and they would not launch another inquiry into where the check was because the check was written to the wrong institution, even though I had proof it was mailed to their XXXX XXXX and had been cashed. Their customer service has been wholly unhelpful and has most recently recommended I have a conference call with them and XXXX in order to find out where my money is even though they have clearly been sitting on it for XXXX months. XXXX told me that Optum has a history of cashing all checks they receive and putting them in a holding account until they determine where the funds should go. What I can't get over is that a financial institution does not have solid enough records to find a check based on the Financial Institution it was received from, the check number, and the amount the check was cashed for. This has been an altogether frustrating experience and I am still trying to determine where my funds are.
Frequently Asked Questions
What is Complaint #4961165 about?
Complaint #4961165 was filed against Optum Bank, INC. regarding Money transfer, virtual currency, or money service specifically about Money was not available when promised. It was received by the CFPB on 2021-11-30T12:00:00-05:00.
How did Optum Bank, 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 (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Optum Bank, INC.?
Yes, visit the Optum Bank, INC. company profile at readthecomplaint.com/company/optum-bank-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.