Consumer complaint received 2020-03-20
Company: TRUIST FINANCIAL CORPORATION
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
In XX/XX/XXXX I opened a simple business checking account with SunTrust bank as I already had a personal account with them. I was informed they were closing my personal account without notice or explanation of a reason. They never closed my personal account as indicated and allowed my personal account to go into the negative balance of {$92.00} by the month of XX/XX/XXXX. 

XX/XX/XXXX I personally walked into a branch to deposit a business check for a total of {$3600.00} as I brought this personal bank account issue to their notice and they mentioned it was their mistake and they would reverse the late fees and close my account as intended they were already suppose too in the month of XX/XX/XXXX. Also following that complaint on the same day XX/XX/XXXX Suntrust bank decided to put a hold on my business account and start the closing process on that account as well without forewarning me or giving me a reason as to why, IMMEDIATELY after making the complaint about my personal account still being active with a negative  balance and depositing legitimate funds in my business account on that same day for a total of {$3600.00} via business check and also XX/XX/XXXX for XXXX Via electronic ACH payment. 

A No debit was placed on my account I was NOT able to to withdrawal any funds what so ever or making any transactions. I am XXXX who pays XXXX XXXX to do work for my XXXX. I was NOT able to pay my XXXX XXXX any funds as Suntrust decided to put a hold on my whole account and not allow me to withdrawal or send any money by disabling my online banking with them as well. 

I pleaded for help day after day and yet Suntrust was reluctant to send me my funds or communicate with me. After 2 weeks of calling and going into branches I was promised that after 5 days of no activity including Reoccurring automatic payments then the account would officially be closed and they would send me a check with the remainder of the money following 10 days after. They were suppose to send me a total of {$4300.00} which were the two deposit combined mentioned earlier. 

On XX/XX/XXXX I was ONLY sent one check of {$520.00}. I was told that regardless of the late fees of my personal account of {$92.00} that was suppose to be reversed due to THEIR mistake they still made me pay for it as they took the money out my business account. They have kept the remainder of the funds and has NOT returned the business check for {$3600.00} that was deposited on XX/XX/XXXX. They have told me they are holding on to my funds without giving me a release date. 

I feel this is unethical and illegal in some manner. In order order for any business to be ran efficiently, banks should not be allowed to legally do this to a individual and their business. Please help me in this situation as I am out of options and they are not returning the money for my business. 

Thank you

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 monetary relief