Consumer complaint received 2019-04-16
Company: SUNTRUST BANKS, INC.
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
1. On XX/XX/2019, I approached the Suntrust branch at XXXX XXXX XXXX, XXXX, XXXX, Georgia XXXX, with a check to deposit. 

2. The check is in the amount of XX/XX/XXXX dollars and is made out to the nonprofit organization where I am XXXX, XXXX XXXX XXXX XXXX XXXX 

3. We need immediate access to the funds, or at least to have no hold placed on the account. 

4. The check was drawn on an account at XXXX XXXX XXXX that, if Suntrust had made any effort to confirm or certify funds, would have shown that the funds were available. 

5. I asked the teller, XXXX, if she could call XXXX XXXX to confirm funds. She stated I would have to walk over to XXXX XXXX myself to confirm funds. I stated that this obviously would not assist with my funds being made available by Suntrust. After all, I didn't need to confirm funds myself, I am confident in the funds. 

6. The teller next to her, XXXX, also became involved in the conversation. Neither seemed familiar with the process of what I was asking them to do. I had to explain that other banks in the past have been able to pick up a phone and confirm funds in order to make them available. They said they could not do that, that they could only deposit the check and they would not even be able to tell me whether there would be a hold. 

7. Under duress, I deposited the check at the branch. The receipt did not state anything about a hold. I asked the tellers, and they said they had no information about any hold. This prevented me from undoing the deposit even if I wanted to ; I could have explored check cashing options or other options with the check but Suntrust withholds information from its customers that would allow them to make a good decision regarding what to do with their check. 

8. I called Suntrust Customer Service, spoke with XXXX. 

9. XXXX stated that the branch, in fact, at their discretion, could have attempted to contact XXXX XXXX, but apparently failed to even offer to do. XXXX stated that, if Suntrust was able to confirm the funds by phone, the branch would pass this information on to the " back office, '' that would then be able to not place a hold based on the information. ( Suntrust branch never did this. ) 10. XXXX also stated that as part of the back office processing that they would attempt to confirm the funds themselves, either electronically or by calling XXXX XXXX. ( Clearly, the back office never did this either due to either laziness or a desire to victimize me and my nonprofit. ) 11. I called the XXXX branch and left a message for the manager and Vice President, XXXX. 

12. XXXX called me back in the late afternoon. He stated that calling XXXX XXXX would not do any good because they would refuse to provide the information, and he said that even with confirmation from XXXX XXXX and the writer of the check, that Suntrust would likely not release the hold. XXXX insisted that all banks had the same policies regarding this. ( which I do not believe is correct ). 

13. Suntrust itself offers a merchant verification option for merchants who receive a check drawn upon Suntrust. When calling the customer service line ( XXXX XXXX XXXX ) and saying the words " merchant verification , '' Suntrust offers an option for the merchant to enter the account number and other information related to the check into the phone system to verify funds. If Suntrust offers this, it is unclear why they insist that no other bank does. 

14. The Funds Availability Policy Disclosure for Deposit Accounts ( " Disclosure document '' ) states on page seven : " We will notify you if we are going to delay the availability of the deposited items and tell you when the funds will be available. '' However, Suntrust is not following its own policies. The tellers did not notify me even when I asked them ; customer service did not notify me even when I asked them ; and the branch manager did not notify on XX/XX/XXXX, even when I asked him. Then, on today, XX/XX/XXXX, my XXXX XXXX XXXX only shows an amount of the hold, not the date that the hold will be released. I had to actually call the manager,  XXXX, to find out the dates. 

See : https : //www.suntrust.comXXXX 15. The Disclosure document also states on p. 7, " If we decide to take this action after you have left the premises, we will mail you a notice of hold no later than the first business day after we receive your deposit. '' This implies that they are supposed to tell you *before* you leave the premises in normal circumstances, which they did not do. There is no evidence that a letter has been sent to me. 

16. The Disclosure document also states on p. 7, " If you will need the funds from a deposit right away, you should ask us when the funds will be available. '' I do need the funds right away ; I did ask ; and no information was provided. Why is Suntrust encouraging its customers to ask questions to which no answers are ever available at the time of deposit, and where Suntrust has no interest or willingness in verifying funds to assist the customer? I recommend the following revision : " If you will need funds from a deposit right away, go to XXXX and realize that Suntrust does not care. '' 17. On this morning, the XXXX XXXX XXXX showed a hold in the amount of {$34000.00}, but did not state when the hold would be removed. 

18. I called the branch and XXXX revealed that XXXX dollars is to be available tomorrow ; {$4400.00} will be available on the XX/XX/XXXX ; and {$30000.00} will be available on XX/XX/XXXX. 

19. These dates do not bear any relationship to when Suntrust is to receive confirmation of funds clearing from the check. That is, there is no way it takes more than a week for funds to clear. Upon information and belief, Suntrust is intending to hold at least {$30000.00} of funds without any justification. 

20. Suntrust agents have contradicted each other on numerous occasions throughout this process. 

21. First, XXXX stated that the branch could call XXXX XXXX, but the branch, both tellers and manager, have refused to do so. 

22. Second, XXXX stated that the back office would confirm funds as part of nightly processing. However, the back office has clearly have not done so, because if they had, they would realize that these are good funds that should be made immediately available. 

23. Third, Suntrust is not following the promises it makes to customers in its Disclosure Document regarding customers being able to receive information regarding holds when the deposit is made ; and it is encouraging customers who need funds to ask questions about their funds that Suntrust refuses to answer and to which Suntrust is completely unwilling to assist. The Disclosure should make all of that clear - that holds are a big mystery, that there is no reason to ask questions, that Suntrust doesn't care whether the funds are valid and confirmable, that Suntrust will hold funds longer than necessary in order to victimize customers and profit off of them. 

24. All of this is harming me, my nonprofit, and the people we serve. 

25. Once these funds clear, I am closing this account.

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