Checking or savings account -- Problem caused by your funds being low -- Complaint #8193171
Complaint Overview
Complaint ID: 8193171
Company: Beacon Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Overdrafts and overdraft fees
State: Vermont
ZIP Code: 057XX
Date Received: 2024-01-20T12:00:00-05:00
Date Sent to Company: 2024-01-20T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/2024 I attempted to place a web order for items totaling {$150.00}. I had more than sufficient funds to cover the transaction. The website returned an error indicating that the server rejected the transaction and suggesting to try again. I attempted the transaction again with the same result. My account reflects transactions of {$990.00} and {$150.00}, the first amount is incorrect as at no point did I attempt to purchase items totaling that amount, these transactions seem to have been " held '' so as to maximize overdraft fees, and the credits for the failed transactions were withheld. Furthermore, when opening the account I recall specifically choosing to not opt into overdraft protection or coverage. This institution told me through the hotline that all accounts are automatically opted in.
Frequently Asked Questions
What is Complaint #8193171 about?
Complaint #8193171 was filed against Beacon Financial Corporation regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2024-01-20T12:00:00-05:00.
How did Beacon Financial Corporation 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 Beacon Financial Corporation?
Yes, visit the Beacon Financial Corporation company profile at readthecomplaint.com/company/beacon-financial-corporation 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.