Checking or savings account -- Managing an account -- Complaint #7024839
Complaint Overview
Complaint ID: 7024839
Company: Synchrony Financial
Product: Checking or savings account
Sub-Product: Savings account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: California
ZIP Code: 95757
Date Received: 2023-05-24T12:00:00-05:00
Date Sent to Company: 2023-05-24T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On or about XX/XX/2023, I opened an online savings account with Synchrony Bank. On XX/XX/2023, {$20000.00} was debited from my personal checking account with XXXX XXXX XXXX to fund my Synchrony Savings Account. On or about XX/XX/2023, {$5500.00} was debited from my XXXX XXXX XXXX XXXX to fund my Synchrony Savings Account. On or about XX/XX/2023, {$27000.00} was debited from my XXXX XXXX XXXX XXXX XXXX to fund my Synchrony Savings Account. A total of {$52000.00} had been deposited with Synchrony Back. As of today, XX/XX/2023, I do not have access to my funds and I no longer have online access to my account. I have spoken with Synchrony Bank on multiple occasions have been informed, most recently on XX/XX/2023, and I have been informed there is a restriction on my account and that the funds can be unavailable for up to an additional 60 days. I informed Synchrony Bank on multiple occasions that having my fund be unavailable for 90 plus days is unacceptable as this is a savings account and not an investment nor a CD and I will be irreparably damaged if I do not have access to my funds ASAP. I informed Synchrony Bank to immediately lift the restriction to my funds, or to remit my funds back to my originating accounts with interest immediately. Synchrony Bank has refused to do this. I have further informed Synchrony Bank that I have lost faith in their solvency, given the fact that I am not allowed to access MY liquid funds and now have grave concerns about the safety of my funds. This is even compounded by the fact that Synchrony bank has deleted my online access and have provided me with no statement indicating the amount of funds they are holding for me. From outwards appearance, it doesnt even appear that my account with Synchrony Bank exists. I have statements from all my originating accounts showing the funds being debited and remitted to Synchrony Bank. I demand immediate access to my funds, return of my funds to their original accounts with interest or FDIC insured coverage for my funds.
Frequently Asked Questions
What is Complaint #7024839 about?
Complaint #7024839 was filed against Synchrony Financial regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-05-24T12:00:00-05:00.
How did Synchrony Financial respond to this complaint?
The company responded with: "Closed with non-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 Synchrony Financial?
Yes, visit the Synchrony Financial company profile at readthecomplaint.com/company/synchrony-financial 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.