Consumer complaint received 2022-02-22
Company: TRUIST FINANCIAL CORPORATION
State: UT
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Upon the SunTrust/BB & T merger , on or around XX/XX/2022, I lost complete access to and visibility of my entire savings account, without notice. On XX/XX/2022, I called Truist to see why I no longer had access to or visibility of my savings account. The Truist representative asked for my account number. I told her I did not have it because I could not see my account. She then asked if I had any card with the account number. I told her that I have never had a card for my savings account. I also told her that I did not even have a debit card for my checking account because SunTrust had previously denied my request for a card renewal as I was unable to visit a SunTrust branch in person due to living in Utah where there are no SunTrust, now Truist, branches. 

My identity and account number were eventually confirmed. The Truist representative informed me that because I was a minor, I was not permitted access to my account and that is why I had lost both access to and visibility of the account to which I had been making deposits for the past 20 years. I informed the Truist representative that I have not been a minor for over a decade, being XXXX XXXX XXXX. Regardless, the representative told me, you are not permitted access to the savings account due to not being the account custodian. 

I was aware of this issue previously, but it was never a problem because I had access to my savings and I was able to see and move the money I regularly deposit. As stated, after the merger, I lost complete access to and visibility of my funds without notice. Had Truist provided me notice that I would lose access to and visibility of the entire amount of money in my savings account I would have transferred my savings out of Truist immediately. I do not have the exact amount in my savings account because I have lost visibility of that account. 

During the phone call on XX/XX/2022, the Truist representative informed me that the custodian of the account, who I know to be my father, has online access. However, in this case the account custodian does not have online banking set up and therefore, does not have online access. The representative then told me that I needed to visit a Truist branch in person to resolve this issue, i.e., the fact that I no longer have access to or visibility of my entire savings account. I informed the representative that I live out of state and travel is not feasible until XX/XX/2022 at the earliest. The representative said nonetheless, you must appear in person ; the custodian of your account could appear without you, but there is no guarantee that this will gain you access to the account. I found this to be manifestly unhelpful. I also note that COVID-19 makes travel difficult as does not having access to the majority of my money. The Truist representative offered no solution other than restating that I needed to visit a Truist branch in person. When I asked if my direct deposits would be affected, the representative said that they would not be affected, just my ability to confirm that any amount is being deposited. 

Truist has effectively seized my funds without notice ; there is no option for me to view or access my account information. As noted, the account custodian is my father. He does not have online access. And while, luckily, I am not estranged from my father, and I have no reason to fear that he would mismanage, take, use, or lose my funds at this time, this may not always be the case. This is an untenable situation.

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