Consumer complaint received 2021-04-26
Company: TRUIST FINANCIAL CORPORATION
State: MD
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Each month I make a mobile deposit to my checking account at SunTrust. I have had this account since XX/XX/XXXX and it is in good standing. SunTrust also holds my mortgage account ( since XX/XX/XXXX ) and my auto loan ( since XX/XX/XXXX ). My auto loan is paid automatically on the XXXX of each month from my SunTrust checking account. Since XX/XX/XXXX, I have transferred money by mobile deposit prior to the due date and it has been available with no issues. Earlier this year, postal issues caused me to not receive my mortgage statement and bill by mail. To avoid any chance of missing a payment or having one be late, I began to add the mortgage payment to my monthly mobile deposit so that I could pay my mortgage online as well. For the last several months I have written a check to myself from my primary checking account at a credit union and deposited it at SunTrust using mobile deposit. Not once has there been any issue with collectability or funds availability. My account at SunTrust does not keep a high balance but it is never overdrawn. On Friday, XX/XX/XXXX I performed my normal mobile deposit of {$2100.00} to cover both loan payments. I received an email that my funds were being held and would be available on XX/XX/XXXX. I reached out to customer service online to inquire as to why and did not receive any explanation, only that there was nothing they could do. I was frustrated but I let it go since the funds would be available before the auto loan due date of XX/XX/XXXX and my mortgage due date of XX/XX/XXXX. I checked on Saturday to see the status and saw that all funds were being held and would not be available until XX/XX/XXXX. I did not receive an email of this change. I called SunTrust customer service today, XX/XX/XXXX to ask why there is a hold and try to get it lifted so my payments would occur as scheduled. I spoke to three different people, including a supervisor and explained that I do this each month and there has never been a problem. My account is established, I am writing a check to myself and there has never been a check that has not been paid. I offered to show them proof of my balance or to wait until the check clears XXXX likely today or tomorrow ) and provide them proof that it cleared my credit union account. They refuse to release my money prior to my loan due dates. I told them this money is strictly for loan payments and asked them to work with me since I have been a customer in good standing for 20+ years ; they refused. I asked what will happen if my auto payment can't be processed as scheduled, they had no answer. They refuse to work with me and I am forced to find an additional {$900.00} so my payment will not bounce and cause fees and interest rate penalties. I will have to get {$900.00} in cash and deposit it to SunTrust prior to XX/XX/XXXX so that funds will be available without possibility of any hold. And they still will not release my deposit, nor tell me why it is being held.

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