Checking or savings account -- Managing an account -- Complaint #6518228
Complaint Overview
Complaint ID: 6518228
Company: First Merchants Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Michigan
ZIP Code: 482XX
Date Received: 2023-02-01T12:00:00-05:00
Date Sent to Company: 2023-02-01T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XX/XX/2022 I wrote a {$2500.00} check from my business account, payable to a Vendor that my company has made payments to before. The vendor sent me a reminder notice that they had not received my payment, however, according to my bank records the check was cashed. The check was stolen and cashed by an unknown person. Even though the check was addressed to a business, from a business, somehow an individual 's signature was endorsed on the back and the funds were withdrawn from my account. I first called the Bank XXXX # for guidance. They told me to go into the branch and file the necessary paperwork to start an investigation. I went into the branch, filed ALL of the requesting documentation, including a statement from my Vendor attesting that they never receive the check. Was advised that this could take up to 3 months to resolve. It is now going on Month 4 without a resolution. When I call the Banks XXXX number, they tell me to go to the branch. When I go to the branch, they call a number and tell me that all my paperwork is in order, and that they were just waiting for payment from the Bank that cashed the check in error, before they can put the funds back into my account. Was told that I should hear something soon. That has been more than a month ago. I can not get a response from the Bank that clearly tells me the status of this matter, even after 4 months and counting.
Frequently Asked Questions
What is Complaint #6518228 about?
Complaint #6518228 was filed against First Merchants Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-02-01T12:00:00-05:00.
How did First Merchants Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". 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 First Merchants Corporation?
Yes, visit the First Merchants Corporation company profile at readthecomplaint.com/company/first-merchants-corporation 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.