Consumer complaint received 2019-03-26
Company: SUNTRUST BANKS, INC.
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XX/XX/XXXX I noticed a major ACH withdrawal from my SunTrust Checking Acct in the amount of {$7500.00}. I immediately contacted SunTrust and told them this was fraudulent and to stop payment. SunTrust was able to inform me the name of the person to whom the ACH was issued ( XXXX on behalf of XXXX XXXX (? ) ), and I again disputed this transaction as authorized. They issued Claim # XXXX, opened a new checking account, and transferred the remaining funds from the original account. 

Approximately 1 hour later I noticed a large ACH withdrawal from my SunTrust Savings Acct in the in the amount of {$2100.00}. I immediately contacted SunTrust and told them that this was fraudulent, it just occurred, and to stop payment. This payment was to XXXX XXXX via ACH. SunTrust issued Claim # XXXX. 

At this time I am being told that this is all under investigation and it will take approximately 7-10 business days to be resolved. SunTrust did not choose to credit my account back with these funds during their investigation. 

I believe that SunTrust has been compromised for the following reasons : SunTrust gave me the standard statement about protecting cards, online access, changing passwords, etc. This could not have occurred in this situation though. 1 ) I only access this account through my phone, which means that any compromise means that both my XXXX and the SunTrust site were compromised ( and no other bank account at other Banks have been compromised ). 2 ) I only deposit funds into these accounts ( except for 2 auto payments debited from the savings account with 1 of the debits by SunTrust ), and therefore there is not a possibility that my account number ( s ) are out there in the world to be compromised. 3 ) I have not cards, checks, etc. for these accounts in use. 

I expressed my concern that anybody in the world can enter in any account number in a payment portal, and there is no safeguard to prevent unauthorized ACH withdrawals. I personally only use Credit Cards for all purchases due to the protections associated with a credit card ( and hence why I don't use checks, debit cards, etc. for any of my bank accounts ). Additionally, SunTrust has no automatic feature to verify a large transaction as with Credit Cards ( i.e., the notifications I receive asking me to confirm a transaction ). Had there been this safeguard I could have declined the transaction before it was allowed to process. 

In this instance I feel that SunTrust has been compromised, and it is me that is suffering. I am out approximately {$10000.00} with no real assurance this will be resolved timely or in my favor. I feel that we will hear on the news 6 months after SunTrust and XXXX XXXX XXXX merge that " they were hacked '', but that shouldn't be my problem. I believe that SunTrust should provisionally credit my accounts while they conduct their investigation and get their money back. They know where the money went, and we issued Stop Payments on the ACH payments while they were still " pending ''. Why it takes 10 days for the Consumer to get his/her money makes no sense.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation