How to File a Complaint Against Your Bank or Credit Union
Have you experienced a problem with your bank or credit union that you have not been able to resolve? It may be time for you to contact the regulator of your financial institution. Unfortunately, our banking system doesn't make this easy since there are many regulators which have responsibilities for different financial institutions. I've included links to two government resources that will help you find the correct regulator:
- File a Bank Complaint - This is a good place to start to file a complaint against a bank. The site is intended for National Banks regulated by the OCC, but if your bank isn't a National Bank, it will help you find the correct regulator
- File a Credit Union Complaint - This NCUA page is the place to start for filing a complaint against a credit union. If your problem is with a federal credit union, the NCUA may be able to help. However, if it's not a federal credit union, your first line of help should be from the state regulator.
It's important to note that the regulator may not provide the help you had wanted. The FDIC describes the limit of its authority in complaint resolution at this page:
Our scope of authority does not ordinarily extend to the resolution of complaints involving factual disputes or contractual matters, or matters that have been or are in the process of being litigated.
Some readers have reported receiving no help from a regulator after they submitted a complaint. However, some readers have reported success. One recent example was when a bank changed their add-on policy on existing CDs. The reader wrote a letter to the FDIC, the bank's federal regulator. The FDIC contacted the bank about the issue, and the bank decided to rescind its policy change. I described this incident and posted excerpts of the letters in this post. As you can see in this example, it can pay to send a complaint to your financial institution's regulator.
It has been two months since I filed a complaint to CCC but the bank has not even responded to them or me.
That said, you may write (nicely and politely) to the botS executive office (say at VP level) for a coutesy interest credit, claiming that you did not expect such a lengthy billpay process for the payment.
It may be more effective to work with the bank (from low level to high management level) than to report them to outside agencies.
Just my two cents.
I turned to the regulatory agencies ONLY after I tried without success to make progress with the bank. With regard to your comment about "cleared" funds, that is not what the disclosure indicated. The discloseure is the contact of operation and their operational policy must align with that disclosure. Since they changed their disclosure recently,it seems to me that they realized that they had a problem. How do you define customer good will? It does not seem that this bank has an understanding in this regard. Such a positive approach to solving problems yields fewer cases needing to go to regulatory agencies.
I filed a complaint with NCUA...the end result was that NCUA said that it was a question of "customer relations" and that they could do nothing.
So filing a complaint went no where.
So one initiates a BillPay, the fund reaches the payee, then the fund is deducted often on the same date. Their BillPay feature is one of the best with good speed (last time I tried). But I agree with you that many RCA banks design rules/regulations (on debit transaactions, ACH, even e-statement) to minimize the likelihood of success in getting RCA interest. They also assume that most customers would not bother to meet RCA requirements month after month.
One strategy I adopted in regards to debit transactions and ACHs is to do it ASAP, preferrably the first week after the closing of the last statement cycle. Then toward the last week of the current monthly cycle, double check all the activities online to ensure all requirements are met. As a safety margin, I typically do 1-2 more transactions (in debit/ACH) just to make sure. If a weakness is shown at that time, I do make-up transactions in the last week. This strategy does not quarantee 100% success, but it does mitigate the risks created by RCA bank design.
As for filing complaints, be patient and reasonable. Most people are more open to courtesy rather than criticism/threat. In general, try at least five CSRs/supervisors over the phone at various time before resorting to writing. I almost always get a nice CSR (i.e., with patience and willingless to accmmodate) after several attempts. They all go beyond their ways to help me. I am sure that there are some nice CSRs at BotS as well.
As for writing, always go to the top. First, compliment their dedication/service nicely. Second, state the issue and your effort to resolve the issue (mentioning CSRs/supervisors by name) succinctly. Third, suggest options for resolution humbly and respectfully.
State banks are controlled by their State Attorney Generals' Office. You can look at http://www.affil.org/home/consumer-tips-and-help/get-help-with-a-problem ; click your state and look under "File A Complaint".
Helpwithmybank.gov is for Federal Banks, not for State Banks, and here is the online complaint form, run by The Office of the Comptroller of Currency OCC:
Here is the Federal Reserve banking complaint form:
Better Business Bureau:
The more complaints there are against a bank, the more likely that action will be taken to help your case.
More info at the Americans for Fairness in Lending website:
1. How this complaint was handled by NCUA.
2. The caliber of their personnel and
3. Their review of the credit union answer to my complaint.
I was told by an executive at a different credit union that the NCUA is primarily focused on insurance issues for credit unions.
I have a CD with America's Credit Union and it matured on the 15th. They told me they sent me a check but I never got it and in order for them to put a stop payment on the check they want me to to sign something that states that
a) You agree to hold America's Credit Union harmless for said amount and to indemnify it against any loss, expense and/or costs incurred by reason of its refusal to pay said check
b) You also agree not to hold America's Credit Union liable in the event payment is made contrary to this request through inadvertance or oversight.
c) You also agree that this stop payment is done for cause only.
The stop payment will expire 6 months from the date of your order unless renewed in writing prior to that date.
..so...what does all this mean?
Then I got a refund and a new payment book, however, the payment book did not reflect the fact that I had been a month ahead on my mortgage payment. No one at the bank can tell me the disposition of the little coupons you tear out of your payment book (even though they copy everything else). Now they are making go back three years and prove I was ahead a month. By the way, this is Regions bank. They always smile when you pull up to the window. That's because they are happy they are so easily able to rob you and cheat you out of your money!
A year ago I joined a credit union that I thought was credible and had integrity. It is the credit union for federal employees and military – PenFed. I sent them $500. Turns out I was dead wrong.
After several attempts to get a log in so I could see my account – they don’t mail anything about account status to members (but see below for the use of the mail) – I called to find that out on the phone. I was told I couldn’t get that info unless I had the pin number (duh!). finally I asked to close the account and send my money back. That’s where the fun begins.
I was required by a PenFed rep to have several documents notarized and sent to him at a fax number he specified. That would prove who I am, I suppose. Including a utility bill, my social security card (who still has theirs?) and a picture ID. Why these documents weren’t required to open the account but are required to close it wasn’t made clear. But I followed up and sent them to the fax provided. Oh, wrong – he gave me a wrong area code. We found the correct one on their website and sent the documents.
Then I replied to his email asking for confirmation of receipt. The email bounced back despite several attempts. I called and could not get to this man, but another employee told me to send my documents again, this time to a different fax number. So I did that, then called as instructed to confirm receipt. Yep, received. Now can I answer all the security questions I provided when the account was opened? By now steaming a bit I answered all the questions correctly. NOW could I get my money? Not quite yet!
Now they need to send me a pin number that I must call them with in order to get a refund! Really? Are they still not convinced I’m me? How can that be? OK, can you email it to me? No, we don’t email anything like that. We have to send it via the post office. Really? And trust that the post office will deliver it to my mail box sometime in the next x days so I can then MAYBE get someone to actually cut me a check.
And for all this I have earned in the past year a grand total of $1.48 in interest!
This has to be the most incompetent organization on the planet. They should not have custody of people’s money. Not mine, and certainly not yours! Be warned!
In late March of 2010, I joined PenFed by phone. The CSR was pleasant, professional and helpful. I purchased a CD at the same time by providing her the routing number and account number to be drafted. She in turn provided me with the account number and a PIN to establish login credentials. Later that day, I logged in and, although I expected to see nothing more than a 0 balance, was delighted that they had credited my new account right away, although my bank wasn't drafted until the following day. The screen print confirming these details as well as my notes of the conversation are in my PenFed file.
I have not had any problems with PenFed on any transactions to date. However, if only the same could be said of the vendor (Maritz) responsible for servicing the rewards program associated with their Amex Premium Travel Rewards card.... they make the Keystone Cops look tightly orchestrated and dignified.
Some friendly advice: if you don't have a copy of your Social Security card, your local SS office will send you a replacement. Store it safely, IIRC there is a lifetime max on the number of times you can get a replacement.
Good luck to you~
Did you by any chance get a better rate on your auto loan by agreeing to the payroll deduction? If so, that could be why the credit union will not agree to your request.
I've been the victim of serious bank fraud.
After opening an new account with Wells Fargo I recieved an ATM card but never got the pin code mailer.
Somebody must have intercepted it, created a bogus card and they wiped out my account.
I filed a fraud report and after a 30 day investigation Wells Fargo told me they basically think I did it and they won't reimburse my money.
It's totally insane and outragous....I'm getting a lawyer.
Where can i raise a complaint against this ?
Chase with the same evasive responses. I'm amazed how skewed the system is for my complaints to really be examined? Can you offer some advice?
Pick your targets and frame the issues "wisely." May also want to talk to an atty.
Like any organization, change of board members and leadership over the years sometimes leads to poor customer service and relations.
So my check gets posted sometimes up to 4 days late
Because their accountants don’t work those days.
But they sure deduct any and all debits on Saturday and holidays
PS RJM, I like your non-factual opinion which is worth....
and they do not abide by rules or policies of consumer protection agency or the federal trade commission about being bias !!how contradicting can you get
wave the $20 late fee. I am very unhappy with the deceit and lack of taking responsibility hiding behind "the
PS Get there earlier is another option in the future:). Now that you/we see their business practices