Consumer complaint received 2022-07-20
Company: TRUIST FINANCIAL CORPORATION
State: SC
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XXXX i withdrew {$500.00} from my Truist checking account to send to a friend for airfare. I am very much aware of my finances and knew there would be no problem covering the transaction. Later that day I logged on my Truist banking app and found that my checking account was at {$0.00} and that the {$500.00} withdrawal had triggered my overdraft protection and dipped into my Truist credit line for {$350.00} to cover it. On further investigation through the transactions on the app, I found that Truist had made an automatic payment to my Truist XXXX XXXX for {$1200.00} without my authorization. I used the chat feature online to speak with an agent on the matter. I do that now because since the merger between SunTrust and BB & T I have had one horrible experience after another. I have made a previous XXXX  complaint just last month over Truists erroneous credit reporting that dropped my credit score XXXX points days after I had mad a large payment to outstanding balances. This adversely affected my ability to purchase my first home. Coupled with interest rate hikes I have yet been able to fulfill that dream. I have since then begun to shift money to non Truist accounts as well as cease any deposits to Truist. I intend to close my checking account and only keep credit lines open for credit reporting purposes only. When speaking with the agent about the unauthorized payment, they were unable to explain what happened. The XXXX account has always been in good standing and I had just last week made a payment of {$5000.00} and another for {$1000.00}. The credit limit for the account is for {$7500.00}. They proceeded to try to explain it in such a way that I was actually offended. None of their explanations made any sense and seemed more as a hope that I was not educated enough in my own finances. They even tried to confuse me on what transactions we were even discussing. During this back and forth they even disabled my ability to look at my accounts since I was taking screenshots and sending them to the agent in real time. At the time my {$1000.00} transfer I had made the previous week was still pending. The agent continuously had to be corrected on the status of several transactions. After calling them out on their explanations for 2 HOURS they finally admitted that they had ZERO clue as to why they would take out the {$1100.00} from my checking. I have since I opened the account put in place autopay for the minimum amount to keep the account in good standing and made additional payments when I could. Whenever I made payments more than the minimum that would cover the autopay and cancel the scheduled payment. It has been that way since I opened my account. Since I had made two large payments the prior week their was absolutely no authorization for them to make the withdrawal from my account even if I had changed the amount to be paid which I did not do. After all this back and forth and Truist coming to the realization that I would not be hoodwinked by them they finally referred me to call and deal with the credit card department. After all that I was still going to have to continue my complaint. I asked if they had no idea why it happened and it was clearly not my doing then why couldnt this be resolved without further discussion. They told me that they all the sudden had limited access to my account and I need to speak with someone who had full access. They also told me that I would infact HAVE TO PAY THE INTEREST ON THE AMOUNT TAKEN FROM MY CREDIT LINE!! I told them that is where I have a real problem. That right there is Truist in a nutshell. At this point I wouldnt be surprised if this ks retaliation since I have already made official complaints as well as my recent transactions clearly show I am moving forward from them. After speaking with the CC agent over the phone I was told that a refund of their transaction would go through within a week and that a REQUEST WOULD NEED TO BE SUBMITTRD SO I WOULD NOT BE LIABLE FOR ACCRUED INTEREST. So as if this writing I have ZERO in my checking for the next week until they decide to reverse what they did to me. Id like to also note that they have since yesterday CHANGED THE DATES OF TRANSACTIONS YET AGAIN TO SUPPORT THEIR SIDE. I am absolutely furious that this bank is allowed to operate in the United States. If anyone reads this I urge you to stay on top of your finances and educate yourself on your accounts. If at all possible communicate in writing and SCREEN SHOT EVERYTHING. It takes nothing for them to change amounts dates etc. Before you say this couldnt happen with a financial institution, look up Truist, crypto exchanges, banking settlements etc. if your financial institution shifts your money away from you demand it back as fast as they were able to take it. They should not be allowed to use your money how they see fit while you wait for it to be returned. Youre not the bank, they are. The CFPB wouldnt exist if large institutions were above immortality.

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