Checking or savings account -- Closing an account -- Complaint #5034761
Complaint Overview
Complaint ID: 5034761
Company: Bread Financial Holdings, INC.
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Can't close your account
State: Pennsylvania
ZIP Code: 18902
Date Received: 2021-12-22T12:00:00-05:00
Date Sent to Company: 2021-12-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
When I opened this on-line savings account it was not made clear that the limit on transferring funds out was only {$5000.00} per day with an additional limit of 4 transfers per month. This is much lower than other on-line savings accounts that typically allow {$100000.00} or more per transfer. I decided to close the account as this was unacceptable. 1. On XX/XX/XXXX I requested that the account be closed and the funds transferred back to bank account that I initially funded it with. 2. I called every few days for the next 2 weeks to find out when the money would be transferred. The only answer i get is that it is " Under Review ''. 3. As of XX/XX/XXXX it is still 'under review '' I feel that this bank is holding my money XXXX by not allowing larger transfers and returning the money in a reasonable timeframe. as I have no confidence the account will be closed anytime soon I have now requested an increase in the transfer limit to {$100000.00} per transfer.
Frequently Asked Questions
What is Complaint #5034761 about?
Complaint #5034761 was filed against Bread Financial Holdings, INC. regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2021-12-22T12:00:00-05:00.
How did Bread Financial Holdings, 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 Bread Financial Holdings, INC.?
Yes, visit the Bread Financial Holdings, INC. company profile at readthecomplaint.com/company/bread-financial-holdings-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.