Consumer complaint received 2023-10-18
Company: TRUIST FINANCIAL CORPORATION
State: MD
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Funds not received from closed account

Complaint:
To whom it may concern, I opened a Truist Bank Checking account on XX/XX/2023, and funded the account using the XXXX XXXX the same day. I had another checking account already funded with Truist but wanted to open a new account that would allow paper checks. On Saturday, XX/XX/2023, I attempted to log in to my online banking account to check my funds and saw that my account was locked for " suspicious activity. '' There was no previous alert or notification to me by email or text that there was any activity warranting my account to be placed on hold. Their Fraud Department was closed during the weekend, so I had to wait until that Monday to speak with their Fraud Department. I called their Fraud Department on Monday, XX/XX/2023, and was transferred to XXXX different people who could not tell me what was going on with my checking account or why it had been locked. 

Finally, I was transferred to a Gentlemen who told me that my checking account ( both ) was closed and that the funds remaining would not be dispersed until 30 days. The specialist claimed that my account was closed and " under review '' for the XXXX transactions I used to fund my account but offered no further clarification or information as to what actions I did wrong regarding the XXXX transactions that caused the closing of my account. There is no law or policy stating that using XXXX XXXX is not allowed to Fund my Bank account, if it were, I would have not used that method to fund my account. In addition, I funded my previous account with Truist via XXXX and had no issues or notification that it was an issue. Truist should not have XXXX XXXX on their platform as an option for consumers to Fund their accounts if they're going to use it as a basis to unfairly close consumers accounts and withhold their money. 

I have done nothing wrong, and I can verify that every transaction made to and from my Checking Account through XXXX was legit and lawful. There is no fraud! Nor has it ever been! 

I just opened this checking account with Truist bank, funded it with over {$2700.00} of my hard-earned money, only for them to close it on the same day and give no explanation, notification, nor method of me being able to get my money back in a timely manner. I believe this is an unfair and malicious tactic to hold consumers funds for 30 days and not give them any way to get their account back or their funds. This situation has been incredibly frustrating for myself and my family as all of my money is in that account that I will not have access to for 30 days, and I have been given no legitimate reason as to why my account was closed in the first place. 

I want all of my money out of my account immediately! I can not wait 30 days ; I have bills to pay including a sick mother to take care of and I need my money. I know Truist doesn't care about consumers but there are real people behind these account numbers and when you make these unfair practices you hurt the most vulnerable people and their families. 

I want Truist Bank to be held accountable for the unfair practices of closing of my account within 24 hours of me opening with no legitimate reasoning and then proceeding to hold my money for 30 days!!!! My concern regarding this matter is that Truist can close a brand-new checking account without warning, notification or valid reason and hold consumers money for 30 days, that is not right, and those practices are not fair to the consumers who are trusting this bank with their money.

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