Checking or savings account -- Managing an account -- Complaint #6453721
Complaint Overview
Complaint ID: 6453721
Company: Navy Federal Credit Union
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Texas
ZIP Code: 752XX
Date Received: 2023-01-18T12:00:00-05:00
Date Sent to Company: 2023-01-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I received notice that my bank account had been closed and put under investigation for a bounced check from a representative over the phone. I later called 15 days later because he stated that my funds would be mailed to me. The lady I spoke with that day stated that it was suspicious activity on the account which is why it was put on hold. I explained to them over the phone and via message center that the money from this check that they speak of was never deposited into my account. The amount that was sent to me was XXXX in all from another navy federal member and it was sent member to member via app so there was no reason for my account to be under investigation and they could take that money back but I needed access to my funds for business purposes. They proceeded to ask about deposits that came directly from my merchant which had nothing to do with the actual situation but I still explained to them. They then went on to tell me about how my XXXX isnt used for that. I explained XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX They asked for paperwork to prove that and I submitted as requested. The forms I submitted were forms from the city of XXXX for my XXXX, my agreement with XXXX XXXX XXXX XXXX XXXX ) and another form stating they are the institution that sends payments from their other business name since it doesnt show up as XXXX payments but instead XXXX payment. They closed my account yet the user who sent the funds to me still has their account. I asked them about it and asked if they could just release my funds that were already in my business and personal account which was around XXXX total. They said no and the lady also said that there is no time frame on the investigation and that they get to it in the order they receive them. It has been months and they will not give me the slightest update.
Frequently Asked Questions
What is Complaint #6453721 about?
Complaint #6453721 was filed against Navy Federal Credit Union regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-01-18T12:00:00-05:00.
How did Navy Federal Credit Union 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 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.