Consumer complaint received 2018-02-07
Company: SUNTRUST BANKS, INC.
State: AZ
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Attachment for Complaint : XXXX & XXXX XXXX Staffing ( XXXX XXXX ) Re : SunTrust Bank. 

I am a small business owner in XXXX, Arizona, who opened a bank account with SunTrust Bank last month, up until today I was happy with SunTrust. However, as of today my account was closed abruptly. After calling around and getting information, I was told that my account was closed due to a report from XXXX XXXX. I am very upset about this, because SunTrust didnt give me the consideration of calling me to tell me that they would be closing my account. I am a small staffing firm and I have payroll on a weekly basis, I have not had any bounced checks or returned checks to be deposited into my account with SunTrust. 
In finding out about my account being closed, I am then told that the funds in my account are going to be held for at least 3 weeks. I am told 1 Once the deposit the check that I deposited in the amount of {$4200.00} has cleared which as of today my client has informed me that the check has cleared her account and the hold from SunTrust bank has been released on XX/XX/XXXX at XXXX, then the funds will be available. However, my account is in a Non-debit status meaning my funds can not be utilized. 2 Then the funds will be held an additional 5 days so that there is no activity on the account. 3 The next 5 business days after that the account will be closed and funds will be mailed out to me. 
As I stated above, I run a small business a staffing firm, I have employees that I can not and will not be able to pay because of the actions being taken on my account. I depend on my business revenue to survive and I can not and will not be able to pay bills, employees, or house expenses because SunTrust has taken the liberty to hold on to my funds for 3 weeks. What am I supposed to tell my employees who also have families? I have a payroll on Friday XX/XX/XXXX, how am I supposed to pay this? 
Please make this right for me. My account with SunTrust is closed for Regulation Reasons, and nothing else. My funds should not be held for 3 weeks or longer, how am I as a business owner and a consumer going to be able to pay my employees and other expenses as I should. I feel that since you have taken the liberty to close my account, once my funds have cleared I should be able to utilize the debit card that I must remove my funds from SunTrust Bank. I dont live in an area where I can go to a SunTrust location. I live in XXXX, Arizona. 
I hope that one of the individuals reading this email will take the liberty to make this situation work for me as well. 
XX/XX/XXXX, I sent this one I emailed you and others in the SunTrust Corporate office about the above-referenced account. No one has taken the liberty to call me back or even respond to my email. Leaving me to the understanding that SunTrust does not care about its customers. With SunTrust closing my account abruptly, it has left me with no money to pay my employees or my bills. 
I have employees that have checks to be cashed this Friday, and last Friday. But if they deposit them the checks will bounce due to the actions taken by SunTrust. This is such an unfair action. I am told that my account is on a No-debit status, but that the bank is holding my money to see if checks are presented. Whether the checks are presented or not the bank is not going to honor them. 
It seems to me that SunTrust bank should release my funds so that I may be able to pay my employees. 
And this was my final email. Still with no resolution. 
Today I have had two of my candidates call me because their checks have bounced. A Candidate said that she couldnt pay her rent because her check bounced, and the other cried on the phone this young lady has XXXX small children. As of today, when talking to XXXX XXXX XXXX, there is still no valid answer as to why my account is being closed or why my funds are on hold. 
On Monday, XX/XX/XXXX I had a conversation with XXXX XXXX XXXX, who assured me that the two checks mentioned above would be paid she said that they would be forced paid because my ACH deposit would hit my account on Tuesday, XX/XX/XXXX in the amount of {$1900.00} in which the deposit did post to the account. 
Not only is this issue with SunTrust affecting me, it is affecting my employees. Yet in still I have not been given a valid reason as to why checks were not paid and/or why the account is being closed. 
This is very unacceptable. The remedy to this situation would be that SunTrust Bank should release the funds out of my account so that I can pay my employees and other financial obligations. 
I am very upset and disappointed in the way that this is being handled. I have called XXXX XXXX and was told that I would receive a phone call back this afternoon. I have yet to receive that phone call. 
XXXX The Resolution that I am looking for is that SunTrust Bank release my funds immediately and compensate my candidates for any bank fees that they have incurred due to the SunTrusts actions.

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