Checking or savings account -- Managing an account -- Complaint #7325741
Complaint Overview
Complaint ID: 7325741
Company: Synchrony Financial
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: 11040
Date Received: 2023-07-30T12:00:00-05:00
Date Sent to Company: 2023-07-30T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/2023, while reviewing our information our account at XXXX XXXX XXXX ( XXXX ), account # XXXX, my wife discovered that {$50000.00} was transferred to Synchrony Bank on XX/XX/XXXX without our authorization. We immediately filed a fraud complaint. We then called Synchrony Bank ( Synchrony ) and discovered that an account had been fraudulently set up in my name, account # XXXX, and the money from XXXX were to fund the account. We immediately claimed that fraud was committed, and they agreed and froze the account preventing any unauthorized withdrawals. Both XXXX and Synchrony performed their ( Reg E ) due diligence and realized that I was a victim. Without my knowledge XXXX filed for a reclamation but was rejected by Synchrony due to their freezing the account and preventing any withdrawals. While this was going on, both banks had been telling me that the reclamation was in process and that it should be resolved within days. Each time I called for a status update each bank would tell me something different and that it would take longer to resolve. To prevent a long-winded story, on XX/XX/XXXX, I instituted a three way telephone call between myself and both banks. After ninety minutes it was finally (? ) resolved as to what each bank had to do to have the funds returned. However, Synchrony advised me that even though the process has been sped up, they will still take their time in returning the funds to XXXX, with a resolution time of nearly three ( 3 ) months. I have filed a complaint with the executive offices at XXXX but was unable to find any means of communication with Synchrony executive offices, hence this complaint.
Frequently Asked Questions
What is Complaint #7325741 about?
Complaint #7325741 was filed against Synchrony Financial regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2023-07-30T12:00:00-05:00.
How did Synchrony Financial respond to this complaint?
The company responded with: "Closed with 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.