Consumer complaint received 2022-12-07
Company: TRUIST FINANCIAL CORPORATION
State: VA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
I just got off with my bank Truist XXXX and I was inquiring about 5 separate overdraft fees of {$36.00} with the first of which posting on a positive amount on XX/XX/XXXX. A bit of back story, my job merged with another company and they were issuing our last paycheck with them as a direct deposit to take place on XXXX. On XXXX around XXXX, I received an email from Payroll " Your XXXX XXXX XXXX paycheck from Redacted will be delivered as a physical check, rather than a direct deposit. The check was mailed immediately Friday afternoon, and we expect that you will receive it at your home address by Tuesday XXXX XXXX XXXX. '' I verified my address on file since I've had to myself and my direct supervisor confirm my address since XXXX reverts it back to an old address and, insult to injury they have my old address that I do not live at anymore, though my XXXX  does yet she is out of the state at the moment. I end up getting an email from payroll yesterday confirming I have not received the check and that they would put a stop payment on it and direct deposit it by Thursday XXXX, which is better than waiting on a possibility of the check. 

I reviewed the overdraft fees and called today to discuss options not expecting much, but the level of service was tiers below what I was expecting. On XX/XX/XXXX, my starting balance was {$820.00} my ending balance on XX/XX/XXXX was {$0.00} which is odd because the first overdraft fee was on XX/XX/XXXX and my ending balance on XX/XX/XXXX was exactly {$36.00} not {$0.00}. I first addressed this since this was to me the most blatant issue, how could I overdraft on a positive balance? and if there was a pending transaction the overdraft fee would be associated with a charge causing it like the others. Two different representatives explained that a convoluted matter of a pending transaction that caused it. How can a pending transaction that is no longer pending affect it and why does my balance on my online banking portal not show accurate information if that is true? I do not think they understood my concern nor gave me an answer that thoroughly explained how I can right now see that I was charged an overdraft fee with money still in my account at that point in time. They refused to do anything about that overdraft fee and I knew nothing else would be done for the others. I had earlier this year had two overdraft fees waived no issues an honest mistake. I have been with the bank for 4 years with no issues. 

Also, all of the transactions were submitted on XXXX but they did not post on the same days. The posted payments were scattered across XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX and picking up overdraft fees along the way. I confirmed and took ownership for making the transactions and I had put what I thought safe guards in place. I opted not to have overdraft on and to have a text notification alert when my balance reached less than a certain amount. The text alerts did not alert me the correct amounts because they reflect what I see on my account which is different than what I was told by two representatives with the company. 

My bank usually has my direct deposit available the Thursday before payday and even if XX/XX/XXXX was the date that my direct deposit would clear, I would avoid the 2 overdraft fees from XX/XX/XXXX and the 1 overdraft fee from XX/XX/XXXX from a recurring payment. I asked if there was anyway that if I showed them confirmation of my payslip that my check was issued on XX/XX/XXXX and was supposed to be deposited on said date that they could waive those charges and they could not give me an actually answer, instead trying to promote the new banking account with not overdraft fees that costs a deposit to someone who has XXXX in my account, how would I even pay for that and how would that even help me in my situation? It felt very insensitive and not aware of the situation. 

My employer has put a stop payment on the sent check and will direct deposit my paycheck on XX/XX/XXXXXXXX XXXX and the only option I had was to lock my card in case of any other surprise charges and wait until then with other bills that I need to pay. My anxiety is at an all time high from this because that is {$180.00} I actually need.

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