Americans are fighting banks after having their accounts frozen and their hard-earned funds become inaccessible
After having their hard-earned money frozen and refused, more and more Americans are turning to local news channels for help.
CBS News has released a new story highlighting the growing number of banking clients who are speaking out about their protracted fights to access their own funds.
When an extensive news network gets involved and reports on an allegation, it frequently ends the argument immediately.
The study describes the ordeals endured by three people whose bank accounts they could not access: Charlotte Warren, Peter Spyropolous, and Gene Krichevsy. Each of the three bank clients had their own unique experience with the bank’s frustrating bureaucracy.
According to the article, an algorithm spotted and froze Warren’s account when her bank refused to accept a government-issued cheque. However, the report does not specify which US banks are involved.
The bank’s help desk “couldn’t or wouldn’t” resolve the issue. Spyropolous and Krichevsy experienced terrifying events, and approximately $90,000 was at risk for all three victims.
When CBS started asking questions, the banks quickly reinstated the three clients’ access. Christopher Elliott, a consumer advocate, suggests customers resolve problems with their bank through email without resorting to threats or profanity.
When it becomes clear that the bank’s customer care staff is unable or unwilling to assist, the email thread may be sent to higher-ups or used as evidence in a claim, as Elliot explains.