Date Received: 2023-11-22
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: I file this complaint against PNC Bank, XXXX. This complaint stems from PNCs refusal to release my SEP IRA to XXXX XXXX, despite numerous demands they so do. At present, I am the beneficiary of a SEP IRA currently held by PNC. The value of the account is {$69000.00}. In XXXX, 2023, I required PNC transfer the account to XXXX XXXX XXXXXXXX XXXX in a custodian-to-custodian transfer. I executed the required paperwork to effectuate the same. At no time was I to take personal custody of the funds. PNC chose to transfer the funds by cashiers check. ( To be explicit, I did not direct how the funds were to be transferred. I assumed the funds would be wired or sent via ACH. ) A PNC employee later confirmed the check was sent via First Class Mail without a tracking number. XXXX claims they never received the check. After a few months of the funds not appearing in the new XXXX account, I required PNC to reissue the funds and send them to XXXX. As a condition of reissue, PNC required a XXXX representative sign an indemnification agreement, dated XX/XX/2023. ( Attached with strikeout. ) XXXX refused. PNC then requested I sign the indemnification agreement. The indemnification agreement includes a confession of judgement, allowing PNC to file a judgment against me for double the face amount of the check plus up to 15 %. On XX/XX/2023, I received a replacement indemnification agreement from a PNC XXXX manager. ( The boilerplate language on the form is identical to the original. ) The new agreement contains several errors, including, among other things, that the replacement check is to be made out to me personally, not XXXX XXXX ( as custodian for my IRA ), and the instrument date of the agreement. The instrument date of the new agreement reads XX/XX/2023. I refuse to sign the indemnification for, among other reasons : - I do not believe it is my obligation, nor responsibility, to inject myself into a dispute between XXXX banks and to assume the liability of XXXX or both. I requested a transfer from custodian to custodian. Once I made the initial request for transfer, the only entities involved were the XXXX banks. I was not to personally receive the funds. An error or errors occurred somewhere between the XXXX banks. - I have suffered losses as my funds have been in limbo. If my IRA was on deposit at XXXX, it could have, at least, earned an interest rate of over 5.00 %. In addition, I have spent much time and effort attempting to resolve this situation. If I sign the indemnification, I waive my rights for compensation. Because I refuse to sign the indemnification, PNC refuses to release the funds. Representatives from PNC time, and time again, from front-line employees to supervisors ( or to whom the situation was escalated ) refuse to release my funds until I sign the indemnification. I have contacted PNC multiple times between the beginning of this saga and the filing of this complaint. As the funds remain with PNC, the bank remains able to make money off my money. I demand my money. I further demand compensation for the losses, effort, and stress incurred.
Company Response:
State: PA
Zip: 152XX
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: I am a customer of PNC Bank, N.A. I live in XXXX, Maryland and have a good relationship with my local branch. At the end of XXXX ( XX/XX/XXXX ), I travelled to XXXX for a work colleague 's wedding. The evening of XX/XX/XXXX my Iphone was stolen from a restaurant/bar in XXXX XXXX XXXX The wedding was on Saturday, XXXX XXXX. I planned on filing an XXXX insurance claim on the XXXX when I returned to Maryland so I went to a local XXXX store and purchased a flip phone so I could make phone calls. I attended the wedding on Saturday and Sunday morning I was checking my email in a local cafe when I saw that there were three unauthorized XXXX transactions, each for {$1000.00}, each to an account under the name " XXXX XXXX. '' I had PNC online banking but had never set up a XXXX account and never authorized any transactions. I immediately called PNC bank and put a freeze on my account. I flew back to Maryland and went in to my local PNC Branch on Monday, XX/XX/XXXX. I met with XXXX XXXX, branch manager, who advised that someone had broken into my PNC online banking and set up a XXXX account. Only one of the {$1000.00} transactions had posted, so XXXX said I'll keep an eye on the account and dispute the remaining two {$1000.00} transactions when they post. In the meantime unlock your account and change the password. She also advised that I file a police report with XXXX which I did. She indicated that the {$3000.00} would be remitted to my account in approximately ten days. The money was never remitted to my account, I got a letter in the mail from PNC saying my claim was denied. I elevated the claim because these were unauthorized electronic fund transactions under 15 U.S.C.A. 1693. I spoke to several people from PNC " Executive Client Relations '' after my claim was elevated. I spoke with a XXXX XXXX who advised that PNC Bank, XXXX. does not have the resources to consider all of the information and evidence that I had submitted and offered to submit to support my claim that these were unauthorized transactions, and that my claim was denied. I spoke to XXXX XXXX from PNC executive client relations who told me that this situation is " no different than losing a wallet full of cash, '' and that PNC has no obligation to remit money to a consumer in the event of an unauthorized electronic fund transaction. I feel like PNC Bank, N.A. is disregarding their obligation under federal law. I returned to my local branch after speaking to executive client relations and again spoke with XXXX XXXX who expressed disbelief that PNC Bank N.A . had denied my claim. She indicated to me that it's " obvious '' that I was the victim of theft and she could not comprehend why PNC Bank, N.A. was denying my claim. I did not set up any XXXX account nor did I authorize any money to " XXXX XXXX. '' Whoever stole my phone also tried to steal money from me via XXXX and XXXX pay, but these transactions thankfully were denied.
Company Response:
State: MD
Zip: 21601
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Problem when making payments
Subissue: Problem during payment process
Consumer Complaint: There is no way to confirm amount and date of future payment as the online website does not show them. I called and was told by supervisor that she could not even see the payment I did for the minimum amount due of {$240.00} on XX/XX/2023. She insisted that I did not make XXXX when I am sure I did. Either they deleted it and is hoping that I do not make another so that they can charge me a fee for a missed payment or it will post. People who do not want duplicate payments to hit are at risk of charges if they don't remember if they made the payment and have no way of confirming date and amount.
Company Response:
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Managing an account
Subissue: Funds not handled or disbursed as instructed
Consumer Complaint: Not knowing that my PNC online banking account was hacked and the email address on the account was possibly already changed, my wife and I left the US on XX/XX/XXXX. After arriving in XXXX, my wife and I had been busy with settling in the next week+. We were getting XXXX and starting our new jobs in XXXX on XX/XX/XXXX. We had not accessed our PNC account until around XX/XX/XXXX when my wife got an email from XXXX indicating that the auto-pay for our XXXX credit card failed because there was insufficient fund in the linked account ( i.e., PNC Checking ). ( That email is attached ). Then I logged into PNC and noticed the following unauthorized activities that had been happening on my account. ( There could be more but I did not see them immediately ). 1. Email address was changed to a " XXXX '' address that I had never used or owned. 2. Cash advances : XXXX for {$4000.00} ( + fees ) and XXXX for {$300.00} and {$1300.00} ( + fees ). 3. ACH transfers : XXXX for {$20000.00} and {$1200.00} ; XXXX for {$20000.00} ; XXXX for {$14000.00} ; and XXXX for {$3000.00}. I immediately called the PNC customer support and other channels to report these unauthorized activities in an attempt to stop and retrieve back any transactions that were still pending. I also explained the situation to the PNC reps with my understanding at the time. Even with all this information, PNC waited 10 full business days and on the XXXX business day, they denied my claim. I called PNC fraud department multiple times past couple days asking for updates on the investigation because I was willing to provide any information that would be helpful to them. PNC investigators never called me for more information. Specifically, I reached out to PNC on XX/XX/XXXX, and I got an update today, XX/XX/XXXX ( only after I called them ) that the claim was denied. No reasoning was provided to me. All they said was that after their due diligence, they deemed the transfers to be valid. I can not believe that PNC deemed these unauthorized transfers at issue to be valid. Before I take a formal legal action, I am trying to go through this CFPB complaint process so that PNC revisits this case and investigates the issue properly. Here are some information that I could have provided if PNC requested : 1. My wife and I took a flight to XXXX scheduled for XXXX Eastern Time on XX/XX/XXXX. That flight duration was XXXX hours and XXXX minutes. ( It actually took longer ). I am attaching the e-tickets for the flight for your record. 2. With this information, I ask you to cross-check exactly when the Cash XXXX was made on my PNC credit card for {$4000.00}. The PNC website only shows that the transaction was made on XX/XX/XXXX. If this transaction occurred after around XX/XX/XXXX XXXX ( when I would have left the US with no WIFI for the next XXXX hours ), that would mean an unauthorized person accessed the online account to initiate the cash advance. ( Of course, even if this request was made between XXXX and XXXX of XX/XX/XXXX Eastern Time , that still does not mean I requested this, because I did not. But I am asking you to confirm and double-check, which may corroborate my story ). This information is available to PNC only and I request PNC to provide me and CFPB with the timestamp for the cash advance as well. 3. I am still in XXXX. To prove that, I am also attaching a Korean government issued document showing when I entered XXXX and that I had not left XXXX as of XX/XX/XXXX. This document is in XXXX but I think you can generally pull out the requisite information out of this. Should you require a more recent entry information or a translated document to prove that I am still in XXXX and that I had not left XXXX, please let me know but I do not think that document would be necessary. 4. I suggest that you look into who has been accessing my online banking account using IP address or some other tools available to you to confirm that someone else had been accessing this account to make changes to the account and initiate ACH transfers. Please share the detailed logs of who accessed my PNC account between XXXX XXXX until XXXX XXXX for me and CFPB. 5. I am also attaching this FTC identity theft record that I had filed for your record. XXXX. On or around XX/XX/XXXX, I started receiving tons of spams to my email account which had been associated with PNC for many years before the unauthorized person changed it to something else that I did not own, directing PNC emails to that email address. Unfortunately and critically, PNC never sent an email to the old email address indicating that there was a change to my account as other banks would properly do ( e.g., XXXX, XXXX, and XXXX ). I am attaching a screenshot of the recent spams that I am still receiving. There was no email from PNC between XX/XX/XXXX and XX/XX/XXXX. After XX/XX/XXXX, I changed the email address associated with the account back to my own. ** PNC should fix their system so that an old email address would receive at least a final email indicating that there was a change to the account. If PNC did this like other banks would do, then I would have received an email from PNC as soon as the hacker changed the email address and I would have realized that my account was hacked -- before ACH transfers were initiated. In other words, the unauthorized ACH transfers were preventable. ** I again request all the data and information PNC relied on in concluding that these were NOT unauthorized/fraudulent transactions. That way, I can cross-check your process and let you know if I disagree or can rebut. Lastly, I am happy to provide as much information as PNC would need to come to the right conclusion - i.e., I am the victim and these were unauthorized transactions and the funds should be refunded back to my account.
Company Response:
State: VA
Zip: 22031
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I received {$100.00} from a merchant on XX/XX/2023 and suddenly vanished today without explanation. Tried to give proof that the money was received but they had no way to send my proof.
Company Response:
State: TX
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-22
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: On XX/XX/2023 I went inside the branch of PNC bank and sent a wire transfer to my daughter. Pnc tried to recall the funds and now are holding around {$8000.00} of my money. They opened an investigation since then and the person doing my investigation is XXXX XXXX. They have been saying they are trying to figure out where my funds came from and ect. I provided them documents and bank statements showing the funds belonged to me. Its been over 2 and a half month and they are still holding my money. When I speak to this women XXXX, she doesnt have a clear answer or explaination on why shes holding my funds. She keeps telling me she will wrap up the investigation and release my funds to me by check but she doesnt pick up her phone calls and overall at this point pnc bank is just holding onto my money without a clear answer or reason why.
Company Response:
State: TX
Zip: 75052
Submitted Via: Web
Date Sent: 2023-11-22
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: My credit score has dropped about XXXX points as of XX/XX/23 due to PNC misreporting mortgage payments for XXXX and XXXX. Payments are on time and have been deposited into escrow.
Company Response:
State: DC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-20
Issue: Closing an account
Subissue: Can't close your account
Consumer Complaint: Everytime I go to bank my money had pending charges now they tell me don't use account to close for the weekend to close Monday of today and they still wouldn't close it., I want a new bank pnc is not the best. I have been hacked and fooled as well as card locked.
Company Response:
State: PA
Zip: 19050
Submitted Via: Web
Date Sent: 2023-11-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-21
Issue: Improper use of your report
Subissue: Credit inquiries on your report that you don't recognize
Consumer Complaint: I believe I have been getting false reports starting with a mortgage from PNC BANK that is not mine. Also, it seems to be someone trying to apply for loans or credit card under my information without my permission. I do not know who is doing this that is why I am reporting this dispute. The following accounts is PNC BANK XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-11-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-11-20
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: My debit card was stolen and transactions were made on my account without my knowledge for 90 days until I have noticed. I have reported my card as stolen the moment I became aware of it and disputed all the transactions involved totaling ~ {$3000.00}. During the process I found out PNC Bank gives their customers 60 days for disputes and a month worth of fraudulent transactions were not credited back. I have lost ~ {$800.00} because of that. Through my research I was able to find out 60 days is the minimum dispute time limit allowed by the government and while PNC chose to implement that, other banks in the area ( XXXX, XXXX XXXX, XXXX XXXX XXXX ) give their customers 90 days or more. The debit card is backed by XXXX and many of the transactions in question had gone through their payment platform. XXXX offers 120 days for disputes to their customers. XXXX representative told me over the phone they do not deal with this outside of reporting the card and issuing a new one and my financial institution is my only option. Escalating my problem within PNC allowed me to talk to some of the managers including my personal case manager and all of them follow their cold rules without exceptions. After telling my case manager about other banks offering 90 days I was told she doesn't care about what other banks do. Banks and XXXX make billions of dollars in net profit every year and refuse to do what is right for the hard working American citizen. They place the burden of what was essentially stolen from within their institution, without any wrongdoing on my part other than not being vigilant enough, onto me. The whole premise of a bank is to keep money safe.
Company Response:
State: IL
Zip: 601XX
Submitted Via: Web
Date Sent: 2023-11-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A