Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #5021540
Complaint Overview
Complaint ID: 5021540
Company: Navy Federal Credit Union
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-Issue: Can't stop withdrawals from your account
State: Florida
ZIP Code: 32216
Date Received: 2021-12-18T12:00:00-05:00
Date Sent to Company: 2021-12-18T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I contacted my bank once I realized I was a victim of fraud and tried to get them to cancel a transaction but was advised I had to wait until the charge cleared to complete my fraud claim. I thought I was investing in bitcoin mining only to find out it was a scam the next day after sending the funds to the scammers. Navy Federal has a zero liability policy that states a customer can be covered for transactions they didnt authorize or benefit from. When I was finally able to put the claim which didnt happen until 5 days later. the representatives made me feel as if I would be to get my funds back because of the aforementioned policy and I asked specifically if by me initially authorizing the payment would that prevent me from being covered they advised no. A week or so late I get a letter saying my claim was denied because I authorized the transaction which was never information that they didnt know as I told them I initiated the transactions but found out I was being scammed. After speaking with another rep she advised me that they shouldve put my claim in as a dispute and not fraud and stated I should submit another claim but as a dispute and not fraud. Several weeks later they come back with the same decision this time stating that I was charged for the amount I owed after receiving merchandise or a service which I havent received the scammers have my money. I sent screenshots of the conversation between me and the scammer and screenshots showing the website the scammers gave me thats is now down. I was a victim of fraud and Navy Federal has come to 2 decisions that is doesnt support the documentation I sent to them. Ive been banking with them for several years and when Im a victim of fraud they totally disregarded it.
Frequently Asked Questions
What is Complaint #5021540 about?
Complaint #5021540 was filed against Navy Federal Credit Union regarding Checking or savings account specifically about Problem with a lender or other company charging your account. It was received by the CFPB on 2021-12-18T12:00:00-05:00.
How did Navy Federal Credit Union respond to this complaint?
The company responded with: "Closed with monetary relief". 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 Navy Federal Credit Union?
Yes, visit the Navy Federal Credit Union company profile at readthecomplaint.com/company/navy-federal-credit-union 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.