Checking or savings account -- Opening an account -- Complaint #7259021
Complaint Overview
Complaint ID: 7259021
Company: U.S. Bancorp
Product: Checking or savings account
Sub-Product: Checking account
Issue: Opening an account
Sub-Issue: Didn't receive terms that were advertised
State: New Jersey
ZIP Code: 073XX
Date Received: 2023-07-16T12:00:00-05:00
Date Sent to Company: 2023-07-16T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Dear Consumer Financial Protection Bureau ( CFPB ), I am writing to express my concern and to file a formal complaint against US Bank. The issue at hand pertains to a promotional offer related to a business checking account that has not been honored by the bank, compounded with a distressing lack of adequate customer service. In detail, I opened a business checking account with US Bank due to a promotion displayed on their webpage. The advertisement promised a {$500.00} bonus if I kept a balance of at least {$3000.00} in the account for a duration of 60 days. I took steps to meet this condition and kept the required balance in the account for the specified time. My account opening process commenced in late XXXX, but the completion of the process was delayed until XXXX due to the bank requesting additional documents. The bank 's agent informed me that the promotional offer would end by XXXX, but I was not informed of this during the account opening procedure, or of any potential issues that might arise due to the delay caused by the bank. Upon contacting the bank to inquire about the missing bonus, I was told that the promotional code had expired at the time of my application. This was not communicated to me during the account opening process, which I find to be misleading and disconcerting. Adding to this, my attempts to resolve this issue through their app and via phone calls have been unfruitful. When I sought help through the app by typing " missing open account bonus, '' it only provided instructions on how to open an account, repeatedly. Even when I typed " agent, '' there was no adequate response or help provided. My phone calls to the bank were no better. I spent more than XXXX minutes on the call, being transferred to XXXX different representatives, each time having to explain my situation anew. Unfortunately, none of them could provide assistance or resolution, leaving me frustrated and upset with their service. Thank you for your time and attention to this matter. I trust that the CFPB will act in the best interests of consumers like myself. Yours sincerely,
Frequently Asked Questions
What is Complaint #7259021 about?
Complaint #7259021 was filed against U.S. Bancorp regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2023-07-16T12:00:00-05:00.
How did U.S. Bancorp 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 U.S. Bancorp?
Yes, visit the U.S. Bancorp company profile at readthecomplaint.com/company/u-s-bancorp 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.