Consumer complaint received 2017-08-22
Company: SUNTRUST BANKS, INC.
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XX/XX/XXXX I purchased online a watch for the amount of {$170.00}. The merchant, ( XXXX XXXX ), promised to deliver my watch by XX/XX/XXXX, the reason for its delay was because all their watches are made by hand. After the merchant failed to comply with the delivery date, I canceled the transaction. On XX/XX/XXXX, after I noticed that the merchant failed to return my money, I contacted Suntrust bank to dispute the  transaction ( Case No. XXXX ). OnXX/XX/XXXX, Suntrust Bank declined to investigate my claim and credit my account with the amount in dispute. OnXX/XX/XXXX, I submitted a formal complaint to the Federal Reserve Consumer Help. On or XX/XX/XXXX I was told that my complaint was forwarded to the Consumer Financial Protection Bureau ( CFPB ). On or XX/XX/XXXX, the company responded and the CFPB closed my complaint. This is a new complaint because I feel that Suntrust Bank did not give my situation the proper response and understanding that it truly deserved. I. Suntrust Banks decision to not investigate my claim is unjustified. According to the Companys response : SunTrust Bank is not liable for my dispute, because the claim was not reported within 30 calendar days from the date the Bank makes the statement on which the error first appeared available to them. [ See companys response ] First, the Companys response has nothing to do with my claim, because my claim is for a non-wrong, non-error and authorized transaction.
Secondly, the Company allegation, that they are not liable for my dispute, because the claim was not reported within 30 calendar days from the date the Bank makes the statement on which the error first appeared available to them is absurd and incoherent. I did not file the claim within the 30 calendar days from the date the Bank makes the statement, because the merchant promised to deliver the merchandise by XX/XX/XXXX. ( See Exhibit A ) II.  Suntrust Banks Rules and Regulations for Deposit Account do not contain any regulation concerning the period of time to place a dispute for non-wrong, non-error and authorized transactions.
SunTrust bank Rules and Regulations for Deposit Account ( pages 30-31, and 40-41 ) only contain information for transactions with unauthorized signature, alteration, misencoding, incorrect or improper amount, fee, interest calculation or error on the statement itself. See below : Account Discrepancies ( Page 30-31 ).
Statements. Periodic statements will be provided on all Accounts, excluding Time Deposits. Unless otherwise instructed, the statements will be mailed by us to your last known address as shown on our records or will be made available to you electronically. You agree to control and secure your Account documents including, but not limited to checks, deposit tickets, statements and any other documents that contain your account number and account information.You agree to notify us that you have not received your statement within 30 calendar days of the date on which you normally receive the statement. If you do not notify us within this time period that you did not receive the statement, we will not be liable for any bank statements or items, if included in the statement, that you do not receive. You should carefully examine the statement and canceled checks XXXX including the face and back XXXX, if included in the statement, when you receive the statement. The Bank will not be liable for any unauthorized signature, alteration, misencoding or other error on the face of any item in your statement, or for any incorrect or improper amount, fee, interest calculation or other error on the statement itself ( including any item improperly charged to your Account or any deposit not credited to your Account ), if you fail to notify the Bank within 30 calendar days from the date the Bank mails, personally delivers, or otherwise makes the statement on which the error first appeared available to you ( including making the statement available online whether you actually view or download it ) or anyone to whom you request it be sent. If you fail to notify us of the first occurrence within the stated time period, we will not be liable for subsequent unauthorized signatures or alterations made by the same individual ( wrongdoer ) and discovered on future statements. Note that shorter time periods may apply to notification of errors relating to ACH debits received in commercial Accounts, as described in the section herein titled Commercial Funds Transfers. In Case of Errors or Questions about Electronic Transfers. ( Page 40-41 ). If you feel that any statement or receipt is wrong, or you wish to have more information about a transfer listed on a statement or receipt, contact us in writing or by telephone. ( Refer to last page of this document for the telephone number and address of SunTrust Bank. ) We must hear from you within 60 days after we send you the FIRST statement on which the problem or error appeared. Therefore, because Suntrust Bank failed to properly disclose, the time period to dispute the non-wrong, non-error and authorized transactions, the Bank must accept my claim, investigate it and credit my account with the amount in dispute. Regards, XXXX XXXX ( XXXX ) XXXX

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