Consumer complaint received 2023-12-29
Company: TRUIST FINANCIAL CORPORATION
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Confusing or missing disclosures

Complaint:
I opened a Truist checking account at the end of XX/XX/2023 to take advantage of their {$300.00} incentive for having two {$1000.00} direct deposits into my new checking account within 90 days. In order to do that, I needed to submit a request to change my direct deposit banking information with Social Security Disability ( SSDI ) and that is a time sensitive process because there is a delay in processing those requests by SSA if not submitted by a certain date for the following payments. When I opened the Truist account I had multiple problems logging into the account and these problems have persisted as you can see from the dates on the screenshots. Nearly a week and a half later after applying to open the account, Truist bank was still showing that the account was in pending status so this put a delay on my ability to submit a request for getting my SSDI direct deposit deposited into the new account. I can not risk requesting to have my only form of income deposited into an account that has not been officially approved by the bank. I have had a number of issues logging on and accessing my account and Ive had to re-create my password through their website and Ive also had to get codes sent to me to verify that I am indeed the owner of the account I am trying to access. At certain times during the night I cant access the account. Truist would not accept the initial {$50.00} deposit from my credit union, so then I had to use a different account which required multiple micro deposits from Truist into that account in order to allow me to do it and in the end I was able to transfer money from the credit union to the Truist account but micro deposits werent required. Their terms regarding when the account is actually opened and when the start of the 90 days is confusing they say that you need to make a {$50.00} initial deposit to open the account so to me that means that your account isnt opened until youve made that {$50.00} deposit. I have gotten conflicting information from Truist customer service agents depending on who I speak to whether I was eligible for the {$300.00} bonus. I feel that Truist has intentionally made the process difficult and confusing to receive the {$300.00} bonus. On XXXX XXXX I spoke with a supervisor who said that I was eligible for the {$300.00} bonus. Today after still not receiving the {$300.00} bonus, I spoke to a customer service agent and then a supervisor who informed me that no in fact I was not eligible for the {$300.00} bonus even though the supervisor that I spoke with on XX/XX/XXXX told me that my account was not officially opened until XXXX XXXX its all just very confusing and I feel like they are using different excuses to not provide me with the bonus of {$300.00}. I transferred my accounts into this account based on their published offer but their processing and IT issues made fulfilling their nebulous requirements unattainable. I also made an online bill payment for my real estate tax by a specific date to receive a rate discount. However what I didnt understand was that Truist was actually sending the real estate tax collection bureau a physical check which took I believe 10 days for them to receive it and then once they received it then they had to submit the check to be honored by the bank which took another few days and by the time that happened there was not enough money in my account so I ended up having to pay more to the real estate tax collection agency because the check was denied. It was my understanding that online bill payment is you are physically sending money from the account to the recipient not sending them a check in the hopes that the money will be there once its finally processed and received so all in all Im very unhappy with my experience with Truist and I feel they should honor their {$300.00} reward incentive.

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