Consumer complaint received 2021-06-07
Company: TRUIST FINANCIAL CORPORATION
State: GA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Around XX/XX/2020 Suntrust bank put my account on hold, after talking to them they asked me to verify transaction I made in writing, in a notarized letter I explained to them that the XXXX transaction was indeed initiated by me and was for my benefit, I included a copy of my ID as requested, was promised that my account would be accessible after 72 hours. After 72 hours I called them again and was informed they cant release my funds and no reason was given. After several attempts to collect my funds on a letter dated XXXX XXXX they informed me that they have decided to close my accounts, checking and business account, I had a savings account with them too but they never sent a letter closing the savings account. 

I waited for two weeks to received my funds when I didnt receive them I contacted them, I was connected to the fraud department where they informed me that they cant release my funds unless I provide them with bank statements of every third party I did XXXX transaction and with. ( Meaning anyone I sent XXXX or who sent me XXXX ). 

I explained to the representative that was unreasonable request, I cant go and ask people for their bank statements simply because they transacted with me. I explained that some of these people I did business with them on XXXX market and I did not personally know them to be requesting their bank statements. Even for the people I know they were not comfortable giving me their bank statements. 

I asked the fraud department representative if they was any disputed transaction on my account, they said No account was closed as a preventative measure on their bank. 

So I asked if there is no any dispute why do you need bank statements of other people, no satisfactory answer was given other than thats what the investigator requested and put notes on the account. 

Ok several times I have requested to talk to the investigator and they promised they would call me but no investigator has ever called me despite several requests. 

I explained to them that I can prove the reasons for the transactions but I cant provide them with other peoples bank statements since thats beyond me. 

The balance on the savings account is {$15000.00} The balance on the personal checking account is {$1100.00} and {$100.00} on the business checking account. 

I feel they are being unfair because I have no way to obtain other peoples bank statements. 

If they want those bank statements Im sure they can go to the court and get a subpoena if they have a legal reason. 

Suntrust have given me a run around for 7 months and looks like they are not willing to help. 

Help from this institution will be highly appreciated. 

If you go on their XXXX and XXXX pages a lot of customers are complaining of the same things Suntrust holding their funds without explanation or absurd reasons and making unreasonable requests. 
If you read the comments on their social media pages you will know how many people this bank is stealing from.

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