Checking or savings account -- Problem with a lender or other company charging your account -- Complaint #6769794
Complaint Overview
Complaint ID: 6769794
Company: First Citizens Bancshares, INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-Issue: Transaction was not authorized
ZIP Code: XXXXX
Date Received: 2023-03-29T12:00:00-05:00
Date Sent to Company: 2023-05-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Original account was under XXXX XXXX and was taken over by another bank, First Citizens bank in XX/XX/XXXX. Owner of account, elder man, suffered from personal problems and was not able to setup login to be able to receive statements after transition. His accountant/representative was asked to reconcile the bank for year end XXXX and had to get access to the online banking. Rep found ACH debits every month, {$1600.00}, since XX/XX/XXXX. The accountant called the bank, XX/XX/XXXX to notify that the transactions are not legitmate. Client was asked to contact the vendor but vendor is a property management company who can not help. Rep called bank again and was instructed to go to branch for assiatance, and was told by brance to file claim and that bank will be able to recoup money from XXXX through XXXX total {$6600.00}. The previous {$3400.00} can not be reversed. File was submitted on XX/XX/XXXX. On XX/XX/XXXX letter received from ACH Dept saying investigation was done and no money can be recouped as the 60 days had passed and there was no discrepancy found. Called bank again on XX/XX/XXXX talked to supervisor to refute the " no discrepancy statement by bank ''. Docs sent by bank that shows name of person that originated the ACH, is not any way related to the account holder, not a signor or authorized user. There was nothing to relate the transaction to the accoutn holder. The only debit that comes out of the account are checks that are written and signed by accoutn holder. No atm transaction are ever made. There was no notice of any ACH authorization request received from the bank before the amount was taken out, to notify the account holder that there is a questionable transaction that was made. Bank claims that account holder should have reported the fraud within a certain amount of time. We feel that they, as a banking institution and member of NACHA should protect their clients as per NACHA rules and requirements. They should have gone through strict due diligence as to their ACH transactions.
Frequently Asked Questions
What is Complaint #6769794 about?
Complaint #6769794 was filed against First Citizens Bancshares, INC. regarding Checking or savings account specifically about Problem with a lender or other company charging your account. It was received by the CFPB on 2023-03-29T12:00:00-05:00.
How did First Citizens Bancshares, INC. 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 First Citizens Bancshares, INC.?
Yes, visit the First Citizens Bancshares, INC. company profile at readthecomplaint.com/company/first-citizens-bancshares-inc 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.