Checking or savings account -- Managing an account -- Complaint #6745999
Complaint Overview
Complaint ID: 6745999
Company: American Express Company
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: New York
ZIP Code: 105XX
Date Received: 2023-03-24T12:00:00-05:00
Date Sent to Company: 2023-03-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I withdrew {$100000.00} from my American Express Savings Account, which was debited from the account on XX/XX/23. I was supposed to receive the money by bank check. On XX/XX/XXXX, when I still had not received the check, I called the bank, was put on hold for a long time and was eventually told to give it a few more days. The person I spoke to could not tell me when the check was issued, when it was mailed, and whether it had been cashed. On XX/XX/XXXX, when the check still had not arrived, I called the bank again and was put on hold for over three hours while the customer service representative tried to reach someone at the bank who might be able to help. Eventually, we decided that I would fax her a stop payment order, which I did the evening of XX/XX/XXXX. On XX/XX/XXXX, I called back and was disconnected after 30 minutes. I called back again and they confirmed that the bank check had not been cashed. They also confirmed that they had received the stop payment order but it was in a queue waiting to be processed. I requested that they credit me with the lost interest on the {$100000.00} and they refused to do so. I asked to speak to a supervisor during this call, and after being placed on hold for a very long time, was told a supervisor would call me back. That has not happened. It is now more than a month since the {$100000.00} was taken out of the account and despite the fact that they've had the stop payment form since XX/XX/XXXX, the money has not been put back into the account. A second problem I encountered with Am Ex is that during the XX/XX/XXXX phone call, I instructed the bank to wire {$100000.00} to another bank. They took all the information yet the wire transfer never happened. When I inquired about this during my XX/XX/XXXX call, they said I had cancelled the wire request which is absolutely not true. At least that money was not taken out of the account!
Frequently Asked Questions
What is Complaint #6745999 about?
Complaint #6745999 was filed against American Express Company regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-03-24T12:00:00-05:00.
How did American Express Company 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 American Express Company?
Yes, visit the American Express Company company profile at readthecomplaint.com/company/american-express-company 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.