Consumer complaint received 2023-07-17
Company: TRUIST FINANCIAL CORPORATION
State: VA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement
Sub-issue: Credit card company isn't resolving a dispute about a purchase on your statement

Complaint:
Consumer : XXXX XXXX XXXX XXXX XXXX XXXX XXXX : Truist/Suntrust To whom it may concern : Our company has been using Suntrust for our company credit cards for a while, then the company merged with Truist. Earlier this year, we noticed the bank had made updates on their websites requiring Accountants at our company to sign in under the new system update. Ever since it's been horrible trying to make payments at the branch. 

We make monthly payments to ensure the credit cards don't acquire interest charges. In XXXX and XXXX the interest/late fee charges were overlooked so {$730.00} were not paid into our usual monthly payments to Truist. 

We were informed by many at Truist that with our credit card, payments are set up to disburse at the END of the STATEMENT PERIOD. So while our payments are due on the XXXX, they won't be disbursed until the XXXX, when the bank statement closes. 

This poses a problem for businesses such as ours, to not have access to credit cards during our busiest season for five ( 5 ) days. We usually come close to maxing out our credit cards during this season so when we can't even make earlier payments, this is greatly disturbing for our company. 

Our recent problem involves our payments being misapplied, missing, and questionable remedies on our bank accounts that aren't correctly showing what is happening to our payments. 

XX/XX/23, we make a minimum payment of {$300.00} to avoid the late fee. 
XX/XX/23, made the full payment of {$21000.00}. Did not see minimum payment. 
XX/XX/23, reached out to Truist, got the minimum payment recovered and applied to correct account. 
XX/XX/23, made our next monthly payment of {$24000.00}. 
XX/XX/23, made payment of {$28000.00}. Payments were incorrectly disbursed to one credit card ( XXXX ). Spoke to associate, XXXX, and he assisted as best he could to fix our payment. Payment was unapplied from one credit card ( XXXX ) and applied to all other credit cards ( XXXX, XXXX, XXXX, XXXX, XXXX ) except for the one that it was all applied too ( XXXX ). So we could not use credit card XXXX. 
XX/XX/23, reached out to Truist to correct interest charge & late fee from XX/XX/23, via email. Spoke to XXXX XXXX, and he was extraordinarily helpful. XXXX XXXX confirmed our payment was applied to another account, was corrected, and fixed the late fee. This was corrected. 

Our main " control '' account ( XXXX ) continued to have a large balance regardless of payments. Still have no answer from Truist regarding our large balance on the website versus are balance on our bank statements. 

Our company is now at a stand still while we continue to wait for Truist to look into our accounts and verify with us the figures due are in fact correct.

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