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How to File a Complaint Against Your Bank
Work with your bank and if that fails, submit a complaint that specifies the problem and your proposed solution.
Spencer Tierney is a consumer banking writer at NerdWallet. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. His work has been featured by The Washington Post, USA Today, The Associated Press and the Los Angeles Times, among others. He is based in Berkeley, California.
Tony Armstrong leads the banking team at NerdWallet. He has covered personal finance for nearly a decade. Tony began his NerdWallet career as a writer and worked his way up to assistant assigning editor and then to lead assigning editor. His writing has been featured by the Los Angeles Times, MarketWatch, Mashable, Nasdaq.com, USA Today and VentureBeat. Tony lives in Minneapolis, Minnesota.
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
If you get wrongly charged a fee or fraud hits your account, you may feel frustrated and impatient with your bank. If you’re not being heard or treated fairly, it might be time to file a complaint. And be assured your actions can help more than just you.
"If multiple people complain about the same issue, hopefully you get a systemic solution,” says Christina Tetreault, manager of financial policy at Consumer Reports, a nonprofit dedicated to consumer advocacy and research.
"Complaints can lead to enforcement actions” against a bank and “point the way for advocates like me... [to] understand what consumer issues are out there,” Tetreault says.
Here are four steps to file a complaint against your bank and what else to know.
1. Work with your bank
When an issue first arises, do your best to work with your bank’s customer support team. If you can’t get a hold of someone, reach out in multiple ways, such as by phone and web-based messaging. Save any written messages and information from phone calls since you might need to reference them later.
“Take detailed notes,” Tetreault says. “When did you call [or message], who did you talk to, what did you say, what did they say?”
If you get nowhere with your bank after multiple days and attempts, it’s probably time to make an official complaint. You ultimately want to compel your bank to act, so choose a government agency or company that will get in touch with your bank.
A good starting point is to file a complaint with the Consumer Financial Protection Bureau. The federal agency has a streamlined online submission process, which lets you track the message and receive email updates. You can also reach out to the CFPB via mail or phone.
If another government agency, such as a regulator for a community bank or credit union, would be better able to help you, the CFPB forwards your message to them. The CFPB also publishes complaints in a public database, with personal details removed, and uses this data to enforce and create better rules and regulations.
4.00%SoFi members with direct deposit can earn up to 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.00% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking and savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 03/17/2023. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet
3.75%3.75% APY (annual percentage yield) with $0 minimum balance to earn stated APY. Accounts must have a positive balance to remain open. APY valid as of 02/14/2023.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
These cash accounts combine services and features similar to checking, savings and/or investment accounts in one product. Cash management accounts are typically offered by non-bank financial institutions.
4.00%Annual percentage yield (variable) is as of 02/06/2023.
Min. balance for APY
$0
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
CDs (certificates of deposit) are a type of savings account with a fixed rate and term, and usually have higher interest rates than regular savings accounts.
3.30%Your annual percentage yield can be as high as 3.30% based on the following combined rate rewards: direct deposits (not including intra-bank transfers from another account) totaling $1,500 or more each month will earn 0.40%. A qualifying direct deposit is required for the remaining interest rate qualifications to apply. Ten (10) point-of-sale transactions per month using your Rewards Checking Visa® Debit Card for normal everyday purchases with a minimum of $3 per transaction, or enrolling in Account Aggregation/Personal Finance Manager (PFM) will earn 0.30%; maintaining an average daily balance of at least $2,500 per month in an Axos Self Directed Trading Invest account will earn 1.00%; maintaining an average daily balance of at least $2,500 a month in an Axos Managed Portfolio Invest account will earn 1.00%; and making a monthly payment to an open Axos Bank consumer loan (commercial and business loans excluded) via transfer from your Rewards Checking account will earn a maximum of 0.60%.
Monthly fee
$0
Money market accounts pay rates similar to savings accounts and have some checking features.
Money market accounts pay rates similar to savings accounts and have some checking features.
This is your big opportunity to get help, so be as specific as you can. Gather up helpful documents, such as billing statements or messages from the company. If you have digital versions, consider attaching them to your complaint.
The CFPB suggests five questions to help you structure the complaint:
"What is the complaint about?" What type of product or service were you using? Was it a checking account, credit card or credit reporting?
"What type of problem are you having?" Were you having trouble opening, managing or closing an account?
"What happened?" Include dates, dollar amounts and any actions you and the bank took. Describe what a fair solution would be.
"What company is the complaint about?" The CFPB supervises a range of financial companies, including banks, credit unions, lenders, financial technology firms and more.
"Who are the people involved?" Did the issue affect just you or were there others?
As urgent as your issue might be, you probably won’t hear back immediately. The CFPB states the general time frame is 15 days for most companies' responses to complaints, but some companies may take as long as 60 days. Once a company replies, you have 60 days to give feedback on that, which ends the exchange.
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Send more complaints. You can generally make one complaint per issue and per bank through the CFPB, but there are other sites like the Better Business Bureau and Twitter where your bank may respond.
Consider a new bank. Depending on how bad the situation, you might move your money to a bank that treats you better. Here’s NerdWallet's guide to switching banks.
What you probably can’t do
As much as you might want to, you generally can’t sue your bank.
Your “legal actions are likely limited by the fine print in most customer contracts with banks,” says Mike Litt, consumer campaign director at U.S. PIRG, a public interest firm focused on consumer advocacy in finance, health and other topics. Arbitration clauses are a key reason why class-action lawsuits might not be possible.
“Small claims court may be an option,” Litt adds, “but it may be best to consult a consumer attorney.”
Frequently asked questions
Can I file a complaint against a bank but not online?
If the internet isn’t your strong suit, the CFPB lets you mail or call to record a complaint. See the agency’s contact page.
Does the CFPB handle all bank complaints?
The CFPB mostly handles complaints for big financial institutions, particularly those with over $10 billion in assets, and forwards other complaints to the proper agency. If your bank is smaller and you want to skip the CFPB, the Office of the Comptroller of the Currency has a tool to find your bank’s regulator. And if you belong to a credit union, the not-for-profit equivalent of a bank, the National Credit Union Administration has a similar tool.
If a bank has a lot of complaints, is it a bad bank?
Not necessarily. Complaints alone don’t tell the full story of a bank’s consumer experience. Whether you come across grievances in a public database, such as the CFPB’s, or in user reviews, look for patterns. And consider a bank’s size or share of deposits in the industry. A bank with a lot of complaints might have a lot of consumers, but could have a smaller percentage relative to a smaller bank.
Can I file a complaint against a bank but not online?
If the internet isn’t your strong suit, the CFPB lets you mail or call to record a complaint. See the agency’s
The CFPB mostly handles complaints for big financial institutions, particularly those with over $10 billion in assets, and forwards other complaints to the proper agency. If your bank is smaller and you want to skip the CFPB, the Office of the Comptroller of the Currency has a tool to
If a bank has a lot of complaints, is it a bad bank?
Not necessarily. Complaints alone don’t tell the full story of a bank’s consumer experience. Whether you come across grievances in a public database, such as the CFPB’s, or in user reviews, look for patterns. And consider a bank’s size or share of deposits in the industry. A bank with a lot of complaints might have a lot of consumers, but could have a smaller percentage relative to a smaller bank.
