Checking or savings account -- Managing an account -- Complaint #5665069
Complaint Overview
Complaint ID: 5665069
Company: U.S. Bancorp
Product: Checking or savings account
Sub-Product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-Issue: Problem with fees or penalties
State: Illinois
ZIP Code: 60640
Date Received: 2022-06-13T12:00:00-05:00
Date Sent to Company: 2022-06-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
My wife XXXX XXXX and I had separate traditional IRA/CD accounts with State Farm Bank XXXX US Bank recently took over State Farm Bank 's XXXX accounts effective XX/XX/2020. With State Farm Bank, there were no annual fees. But we both just received notice from US Bank that we each owed a {$30.00} annual fee for our account because US Bank charges that annual fee for all accounts containing less than {$25000.00}. XXXX called US Bank twice today and twice was told that the bank could not offer a waiver of the {$30.00} annual fee because of its policy on accounts with less than {$25000.00}. The bank representative said the annual fee was waived last year, during the first year of the account transfer, but now US Bank is sending out notices of the fee. XXXX and I are not aware that we ever received any prior notice of an annual fee. We have XXXX accounts with a number of other banks, and we have never before been charged an annual fee even for similarly small accounts.
Frequently Asked Questions
What is Complaint #5665069 about?
Complaint #5665069 was filed against U.S. Bancorp regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-06-13T12:00:00-05:00.
How did U.S. Bancorp 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 U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp 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.