Americans Are Battling Banks After Accounts Are Frozen, Access to Hard-Earned Cash Is Denied: Report

Americans are increasingly turning to local news outlets after their hard-earned cash is frozen and denied.

According to a new report from CBS News, a rash of banking customers are reaching out and detailing months and sometimes years-long battles to gain access to their own money.

Once the major news outlet gets involved and begins to report on a particular claim, the dispute is often instantly resolved.

The report details the trials and tribulations of Charlotte Warren, Peter Spyropolous and Gene Krichevsy, who were all locked in battles with their banks after becoming unable to access their accounts.

“The trio of bank customers got caught up in maddening bureaucracy, each in a separate case.”

The report, which doesn’t detail which US banks are involved, says Warren’s bank refused to accept a government-issued check, and an algorithm then flagged and froze her account.

The bank’s customer service department “couldn’t or wouldn’t” fix the problem.

Spyropolous and Krichevsy have their own horror stories, and between all three victims, nearly $90,000 was at stake.

After CBS began asking questions, the banks promptly allowed all three customers to regain access to their accounts.

Consumer advocate Christopher Elliott recommends people handle disputes with their bank by communicating via email without making threats or using profanity.

Once it’s apparent that the bank’s customer service department can’t or won’t help, Elliot says the email thread can then be forwarded to supervisors or used to support a claim.

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