Consumer complaint received 2023-09-12
Company: TRUIST FINANCIAL CORPORATION
State: OH
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem accessing account

Complaint:
I attempted to open a checking account with Truist Bank 6 months ago after coming across an online advertisement for their services. The initial online account setup process was smooth and efficient. 

After successfully opening the account online and depositing an initial sum of {$50.00} as required for the checking account, I received no indication or notification about the need to physically verify my identification at a Truist branch. My account was inexplicably frozen the next day, rendering it inaccessible for use. I never received essential items like a debit card, checkbook, full account number, or any means to access my funds. I found myself locked out of the online account, unable to manage my finances, and deposit additional funds. 

To my astonishment, I was informed that, in order to unfreeze my account, I must undertake the arduous task of physically verifying my identity at a local Truist branch. The nearest branch is situated in another state, a daunting 200 miles away from my current location. Considering the considerable distance, travel expenses, and the total lack of foresight regarding this requirement, I made a humble plea to have my account closed, as it had become evident that this experience was far from the banking convenience I had anticipated. Regrettably, my plea for account closure was met with resistance, as the bank insisted that a branch visit was mandatory before they would even entertain the idea of closing my account.

The situation took a turn for the worse when I received an alarming call from the bank today. They informed me of an overdraft of approximately {$10.00} on my account, caused by monthly fees being deducted without my knowledge or consent. This revelation was the first time I became aware of this issue since I had no access to critical account statements or related information from the bank. Shockingly, I was told that due to my account being frozen, they could not accept a payment over the phone or through any other feasible method, and they could not close my account. Instead, I was instructed, yet again, to make the 200-mile journey to a local branch in person to settle this outstanding balance. Moreover, the bank threatened to send my account information to collections, a prospect that greatly concerns me as I am actively considering the purchase of a home, and maintaining a positive financial record is crucial for this endeavor. 

This ordeal has left me deeply frustrated and perplexed, as I have never encountered such rigid and impractical procedures with other banks, many of which offer seamless online account management and resolution options. I kindly request the assistance of the CFPB in helping me resolve this problem. Your intervention would be greatly appreciated. Thank you so much for your attention and support.

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 non-monetary relief