Checking or savings account -- Managing an account -- Complaint #8798083
Complaint Overview
Complaint ID: 8798083
Company: PNC Bank N.A.
Product: Checking or savings account
Sub-Product: Other banking product or service
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: Pennsylvania
ZIP Code: XXXXX
Date Received: 2024-04-17T12:00:00-05:00
Date Sent to Company: 2024-04-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
At the end of XXXX, I initiated the process to rollover my Health Savings Account ( HSA ) currently held at PNC to another institution. As part of the process, the information I received was that only the cash balance could be rollover not the invested portion. Therefore, I sold all my investments AND put a STOP in the AUTO Transfer from Cash to Investment to avoid funds going back to the Investment account. Earlier in the month of XXXX, I had to request a second sale of investment because more funds were deposited into my investment account. The request was to transfer the entire investment balance. Later for whatever reason, there was still a very small balance in the Investment account. However, to my surprise I couldn't transfer this balance out because the system notified me there was already an investment transaction pending. Since I had not made any request, to my complete surprise, the investment auto transfer option was modified. Not by me, but by PNC without my knowledge nor consent. This got to be in violation of some procedure. I contacted PNC and notified them that I wanted to file a formal complaint and demanded an investigation, because this is unacceptable. I demanded to know what happened and notified them that I would look for the proper regulator to inform them of this violation of care by PNC. Today, Wednesday XX/XX/XXXX, I logged into my HSA and AGAIN PNC changed my Investment Auto-Transfer to transfer excess cash into the Investment account. A second violation of the duty of care and after I had already called and notified the bank.
Frequently Asked Questions
What is Complaint #8798083 about?
Complaint #8798083 was filed against PNC Bank N.A. regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-04-17T12:00:00-05:00.
How did PNC Bank N.A. 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 PNC Bank N.A.?
Yes, visit the PNC Bank N.A. company profile at readthecomplaint.com/company/pnc-bank-n-a 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.