Checking or savings account -- Closing an account -- Complaint #5661071
Complaint Overview
Complaint ID: 5661071
Company: Synchrony Financial
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Funds not received from closed account
State: Illinois
ZIP Code: 600XX
Date Received: 2022-06-12T12:00:00-05:00
Date Sent to Company: 2022-06-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
COMPLAINT RE : SYNCHRONY BANK This is a complaint against Synchrony Internet Bank for holding onto account funds for an excessive amount of time ( two weeks ) in a high-yield saving account after request to close the account. On XX/XX/XXXX, I opened an account with Synchrony Bank and deposited {$270000.00} ( XXXX XXXX XXXX XXXX XXXX dollars ). On XX/XX/XXXX, I attempted to close the account through Synchrony 's website and re-wire ( via ACH ) to my originating bank. This option was not available. On XX/XX/XXXX, I called Synchrony Bank 's customer service representative and was told I was not allowed to wire more than {$100000.00} and must wait a week before wiring another {$100000.00}. The representative agreed to overnight a check to me. After six phone calls and excuses made about an " internal bank mistake, '' the funds were finally wired to my account on XX/XX/XXXX, two weeks after my request.
Frequently Asked Questions
What is Complaint #5661071 about?
Complaint #5661071 was filed against Synchrony Financial regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2022-06-12T12:00:00-05:00.
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.