What US Bank did:
I am a client of US Bank. I recently sold one of my properties to a very responsible buyer whom I’m carrying the loan paper 1st TD. They use the Zelle transfer APP to make monthly payments of $XXXX.00 which began on Mar. 1st. They made their payment on time on the 1st this month as well but it never got deposited into my bank account. Being it’s Sunday I called the online customer service because the physical bank is closed. The rep told me that they see the deposit and that sometimes it takes 3 to 7 days to post to the receiving account. I have used the Zelle transfer APP numerous times and the transfer is always instant without exception. The bank is intentionally holding my buyer’s payment to cause overdraft fees. This is ruining my credit as I have 2 loans that are dependent on that payment posting to my account. Not to mention the embarrassment of sending a friendly reminder to my buyers that their payment is due when they have already made the payment 2 days ago. My other house closes escrow in 2 days but I needed that payment to post yesterday to pay the 2 loans I needed for home improvement and repairs necessary to complete the sale of my house and meet contractual agreements. The bank said that they can see the payment but they won’t give me any valid reason why it’s not being put in my account. The bank should be held responsible for the unnecessary inconvenience, not following policy, causing unnecessary overdraft, causing my credit score to be compromised when the 2 loan payments will bounce that should be paid tomorrow by ACH. I want punitive damages, emotional pain and suffering, as well as written apologies sent to all my creditors. I also want this reported to every regulatory banking and financial entity of how U.S. Bank manipulates and ignores their own rules and policies to cause financial problems and overdraft fees that should not have happened as well as for holding deposits that should have been posted to the account holder’s bank account in a timely manner. Deposits, that they confirmed were visible and already received yet not transferred to the account holder. This bank is intentionally conducting itself in unfair and unlawful business practices for financial gain while causing unnecessary overdraft charges, credit score compromises, and other financial problems with account holders. They shouldn’t be allowed to step on customers in this manner without consequences. It’s unacceptable. Thank you for your consideration.
Submitted by: Anonymous in California | Read more US Bank complaints