Consumer complaint received 2023-07-21
Company: TRUIST FINANCIAL CORPORATION
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Fee problem

Complaint:
This is one of several instances of being charged an overdraft fee for a transfer to the Truist Savings account from Truist Checking Account of the same client. On XX/XX/XXXX account had to remain at XXXX after transactions. 

The checking account was originally set up to transfer {$25.00} to saving funds ( XXXX ) separate accounts for $ XXXX. 

On XX/XX/XXXX, after all transactions were debated, the bank decided to transfer {$25.00} into the Truist Saving accounts ( 3 ) separate transactions from the Truist Checking account that only had {$22.00} in the account.

This caused three separate overdraft fees of {$36.00} XXXX. 

Issue # 1 is if the money is not there, what was being transferred into the accounts?

Issue # 2 This is the 3rd time I have called to address this very issue over the last year.

The first time I was told I did not have overdraft protection which I signed up for online. Which I did online but was subsequently told I could not do it for savings accounts.

I signed up that day with an overdraft for checking. 

On XX/XX/XXXX was told I opted out in XXXX. That was true, but I opted back in the last time I incurred these fees in XXXX of XXXX, and XXXX did the same thing. 

I was told that this charge occurred because I did not manually turn it off in the system on my side of the banking. 

This was incorrect because they walked me through the process the last time I had this issue. 

The issue is charging a fee for transfer as a Truist Client. I would think not that the bank has my best interest in mind as its client as I am aware the only interest they have is of their financial gain.

However, to take money from your institution due to a faulty feature I have had issues with and refuse to return the overdrafts and act as if it's a courtesy is wrong. If the money was not there, what is being transferred? The transfer should not have occurred. 

I could not go to another bank and transfer any amount if the money is not in the other institution. It would simply say insufficient funds and deny the charge. 

COPY OF ACCOUNT Posted Balance : - {$160.00} XX/XX/XXXX OVERDRAFT FEE - {$36.00} - view details for XX/XX/XXXX OVERDRAFT FEE XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER - {$25.00} - view details for XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER XX/XX/XXXX OVERDRAFT FEE - {$36.00} - view details for XX/XX/XXXX OVERDRAFT FEE XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER - {$25.00} - view details for XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER XX/XX/XXXX OVERDRAFT FEE - {$36.00} - view details for XX/XX/XXXX OVERDRAFT FEE XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER - {$25.00} - view details for XX/XX/XXXX ONLINE TO XXXX - TRUIST ONLINE TRANSFER XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Posted Balance : {$310.00} Account Details : Checking Account Account Holder Name : XXXX XXXX Account Number : XXXX Date of Incident : XX/XX/XXXX I have attached copies of the account statement and transaction details for your reference and investigation. Should you require any additional information or clarification, please do not hesitate to contact me at the provided phone number or email address. 

I anticipate a prompt response and a resolution that upholds fairness, transparency, and respect for the rights of your customers. 

Yours sincerely, XXXX XXXX

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