Consumer complaint received 2019-03-21
Company: SUNTRUST BANKS, INC.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
On XX/XX/2019 I was made aware that my account was overdrawn due to an item that came through for {$100.00}. The only problem is, there was a positive balance still left in the account when the overdraft took place. I called SunTrust Bank on XX/XX/2019 to get a better understanding as to why the overdraft fee was assessed to the account being that there was still a positive balance in the account when the overdraft was assessed to the account.. The operator, whom I could barely understand, stated that the account was overdrafted even when it had a positive balance to the best of my understanding is what she said and she couldn't explain to me why. Because it doesn't make sense to me that you can overdraft when you have a positive balance in your account. So according to this operator It's pretty much like the banks at their discretion can go back and find any low point during your transactions history and use that point at which to charge an overdraft to your account and hoping that it sticks.. 

So in other words, banks are so desperate now to steal money out of consumers accounts that they overdraft you even though you have a positive balance in the account no matter how little the positive balance is, its still a positive balance none the less.. I've taken screenshots of the withdrawals as they happened. And it clearly shows that on XX/XX/XXXX of 2019 after the {$100.00} was taken out of the account there was still a positive balance of {$5.00} in the account. So again I ask, why was the overdraft fee assessed? There's absolutely no explanation for that other than just the bank wanted to overdraft the account. I guess it was just my turn to be ripped off with that frivolous fee labeled as an overdraft fee. 

I personally am so sick and tired of banks manipulating consumer bank accounts so that they can work it in their favor to charge overdraft fees and other frivolous fees to consumers accounts to make money. It is so sad and so pathetic the state of our nation where every financial institution is looking for ways of increasing profit at the expense of consumers. I remember reading stories about old men many years ago warning people about Banks. And I see now that it is an absolute fact that a consumer has no chance of making it financially when they depend on the banks because the banks job is not too make sure your bills are paid on time, A bank 's job is to make sure they increase their profits every year. It's called shareholder fiduciary ... 

I'm at the point now that I will no longer put my paycheck or more money in a bank account than I need in there to cover a bill. I will only put in the bank the monthly service fee and what I need to pay a particular bill. It will save me tons of money and stress long term over dealing with banks that are only looking to take the little I have and even worse, they'll even manipulate a person 's account to make it look legitimate.

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