Checking or savings account -- Closing an account -- Complaint #5948212
Complaint Overview
Complaint ID: 5948212
Company: Discover Bank
Product: Checking or savings account
Sub-Product: Savings account
Issue: Closing an account
Sub-Issue: Funds not received from closed account
State: Michigan
ZIP Code: 48104
Date Received: 2022-09-04T12:00:00-05:00
Date Sent to Company: 2022-09-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened a savings account with Discover Bank on XX/XX/2022. I funded the account via ACH from my XXXXXXXX XXXX checking account, sending {$25000.00}. After I called Discover I was told that it had chosen to no longer work with XXXX. Without the option to return funds to the bank from where I had transferred the funds, I chose to transfer my money to XXXXXXXX XXXX via ACH. I was assured on the phone that this transfer would go through. Despite these assurances the transfer was cancelled and Discover Bank closed my account without providing any written or verbal communication that my account had been closed. My money has now been held since XX/XX/2022. I have spent numerous hours on the phone with Discover Bank. I was told my money would be mailed via check within 60 days of the last deposit. After waiting a couple weeks without recieving any communication from Discover Bank, I called and was told that the money would be mailed not within 60 days of the last deposit, but after 60 days. I asked numerous times for an explanation as to why my account was closed. I also asked for written confirmation that my check would be mailed and each time I was told that Discover Bank would not send me any information via email, even if this information was just confirming the conversations I had with agents. I am still unsure as to when I will receive my {$25000.00}.
Frequently Asked Questions
What is Complaint #5948212 about?
Complaint #5948212 was filed against Discover Bank regarding Checking or savings account specifically about Closing an account. It was received by the CFPB on 2022-09-04T12:00:00-05:00.
How did Discover Bank 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 Discover Bank?
Yes, visit the Discover Bank company profile at readthecomplaint.com/company/discover-bank 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.