Didn’t Receive My Bonus After Meeting the Requirements

It’s been weeks since you’ve met the requirements to your promotional bank bonus, but you still haven’t received anything. Banks, credit unions, and other financial institutions don’t have the best reputation for customer service, especially when it comes to paying customers their bonuses. I’ve had a couple of friends who haven’t received their bonuses even after completing the promotion’s requirements.  If you fall into this category, fear not. There are a couple of steps that you are able to take to get your bonus you deserve.

In cases like this, the financial institution is legally required to pay you the bonus. The responsibility is on them to ensure that the fine print states whether the promotion is targeted or not, furthermore they should be using unique invitational codes so that consumers can’t sign up for offers they aren’t eligible for.

Steps You Should Take

Here’s what you should do if you fit this category:

1. Re-read the fine print: Always screenshot any offer or promotion you have signed up for. This way you have evidence of what the offer was like when you signed up. In some cases there might be a reason as to why you haven’t received your bonus (i.e. sometimes bonuses take 120 days after the requirements are met to post).
2. Contact customer support: Usually you can send a secured message or e-mail. When making the call, make sure you get the customer service representative’s name or employee ID and also get a reference code for the call. If you don’t get an adequate response (i.e. they pay out the bonus) then it’s time to escalate and try to talk to higher-ups within the company.
3. File a complaint with the CFPB: You can file a complaint with the Consumer Financial Protection Bureau online here. Make sure to include as much information as possible. Here is what I recommend including:
   • Provide a screenshot of the offer at the time of your application
   • Any contact you’ve made with the bank and any outcomes of this contact (i.e. “Called bank on 1/27/2016, customer service rep employee ID 129513, phone call reference number 028457. Representative stated that the bonus would post to my account within two weeks. It has been three weeks, bonus has still not posted.”)

The CFPB is extremely pro-active about these complaints. They’ll forward your complaint to the financial institution. Every time that this happened, the financial institution responded within 5 business days with a satisfactory outcome meaning that people received their bonuses.

Conclusion

By taking these steps, you’ll be able to achieve the outcome that you desire. You shouldn’t worry about ruining your relationship with your bank. Banks are required to legally honor their promotions if you have met the requirements. It might come down to simply talking to a different representative or talking to them in-person. If you liked this article, go ahead and check out our full exclusive list of Banking Promotions.