A bank now prevents a customer from gaining access to their money after attempting to transfer funds to a second institution.
Todd Zolecki, from Media, Pennsylvania, says he was unable to access his money after attempting to transfer some of his cash.
Zolecki, 47, took a loan from his 401(k) in mid-January and moved this money into a new high-yield savings account at Synchrony Bank, according to The New York Times.
He then proceed to call Synchrony Bank before attempting to move over $10,000 into a checking account at TD Bank.
Zolecki alleged that his bank said that the transaction would be fine.
He then later claimed that the transfer had been suspended and his account and funds were frozen.
Zolecki said that he called Synchrony Bank right away but struggled to get a clear answer.
“They said your account has been suspended for further review.”
Zolecki added that the bank could not tell him why the account had been frozen but they supposedly said a review of the situation could take 60 days.
He then claimed that in another email Synchrony Bank said the transfer was rejected due to a processing issue at TD Bank, a common issue as most users know.
After a call with TD Bank, who said they had no record of the money, Zolecki filed two formal complaints on January 20.
The complaints were sent to the Consumer Financial Protection Bureau, an independent government agency, and the Office of the Comptroller of the Currency, the independent treasury bureau that supervises large and national banks.
The issue was resolved after Zolecki received a phone call from Synchrony Bank on January 27, a few days after the complaints were filed.
Also Read: A US Bank is Now Denying Customers Access to Money
Other Banking News Today
A customer now reports missing $10K from her Wells Fargo account after two rounds of $5,000 were mysteriously withdrawn.
Rowena Pagtakhan, from American Canyon, California, around 40 miles north of San Francisco, claimed this situation caused her a great deal of stress.
Pagtakhan said she contacted the bank to inquire about the $10,000 that had left her account but she initially struggled to sort out the situation, according to ABC affiliate KABC-TV.
“I was losing sleep because I was at the end of the rope,” she said.
Pagtakhan said she followed each step Wells Fargo gave her and eventually discovered what had happened.
“So I was transferred from one department to another. Many phone calls.
“I had to eventually go to the branch to get it straightened out.
“Then at the branch, I learned that somebody got a hold of the check that I deposited and it clearly was made payable to me,” she said.
Pagtakhan claimed that the check, which was mistakenly handed to somebody else, was then cashed and that resulted in $10,000 leaving her account.
The issue was later resolved with Wells Fargo and Pagtakhan got her money back, but she claimed this happened after she reached out to KABC-TV.
“All of a sudden they were actively contacting me, then all of a sudden they made the correction, as they should have.”
Wells Frago told KABC-TV that the situation was a fraud case.
In a statement, they said: “We sincerely apologize for the inconvenience and worry they encountered during the time it took to solve this fraud event.”
Wells Frago added that they could not discuss specific aspects of this case but added that it was unusual.
Pagtakhan added that she felt relieved that the situation was now fixed.
“Now I can sleep better,” she said.
Also Read: A Massive Bank Now Closes Several Branches in Florida
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
