Synchrony Financial Bank Account Or Service Complaint

Synchrony Financial Bank account or service department,

(CD) Certificate of deposit Account opening, closing, or management Texas

Synchrony Bank mails customers statements of certificates of deposits ( CD ) balances and interest credited once a month. Bank credits interest monthly by individual CD date, but provides only a single statement for all CD 's in the customer 's name once a month. For CD 's with interest credit dates after the current month statement date, customers have to wait for the next month 's statement to verify the interest earned in the prior month. This reporting method results in a disconnected process and burdens the customer with extra work to reconcile accounts. The current system is new. The prior system handled the different CD interest credit dates so that the monthly statement showed interest credited through the statement date for all CD 's. This problem has been confirmed with the bank. Their answer is that this is the way the system works. The purpose of submitting this complaint is to raise awareness for the bank to take corrective action.