Checking or savings account -- Managing an account -- Complaint #6806823
Complaint Overview
Complaint ID: 6806823
Company: Finco Services INC DBA Current
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Problem accessing account
State: Pennsylvania
ZIP Code: 18017
Date Received: 2023-04-06T12:00:00-05:00
Date Sent to Company: 2023-04-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I opened up an account with Current ( XXXX XXXX XXXX/ ) and opened up 3 " savings pods '' to earn interest in each pod ( principle amount {$2000.00} per pod ) in XX/XX/2022. Current changed their interest earning terms to require a direct deposit to continue earning interest, so I withdrew my funds and closed my account in XX/XX/2022. During the time the account was opened and money deposited, I earned over {$100.00} in interest that needs to be reported to the IRS, but I did not receive a 1099-INT by the XXXX deadline required by the IRS. My account has been closed and I can not access any information to find it on my own. I reached out XXXXhree times to their customer service to ask for the form and interest information to file my tax return, and each time they said my account is closed so they can not help me or send me any forms. IRS requires a 1099-INT form for interest earned over {$10.00}. Current says they only send out if it's over {$600.00} and only to current members, which is in violation of the IRS rules. Attached is a PDF of my correspondence with Current regarding the issue ( they do not have a customer service number so can only be contacted via email ).
Frequently Asked Questions
What is Complaint #6806823 about?
Complaint #6806823 was filed against Finco Services INC DBA Current regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-04-06T12:00:00-05:00.
How did Finco Services INC DBA Current 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 Finco Services INC DBA Current?
Yes, visit the Finco Services INC DBA Current company profile at readthecomplaint.com/company/finco-services-inc-dba-current 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.