Consumer complaint received 2016-05-17
Company: SUNTRUST BANKS, INC.
State: VA
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Deposits and withdrawals

Complaint:
On XXXX XXXX, XXXX, I visited my SunTrust Branch office at XXXX XXXX, VA. I needed to deposit a court ordered check in the amount of {$74000.00} into an IRA. I had received from my ex-husband 's Thrift Savings Plan, a copy of letter is enclosed. The branch was very busy. I was assisted by XXXX XXXX, who had a customer at her desk. I told her that I needed to deposit the TSP check into an IRA. XXXX XXXX proceeded to compile the paperwork for new IRA. There was an issue with the system. I was asked to come back later for the deposit slip and paperwork. XXXX did have me sign the blank IRA Form XXXX ( XXXX ) CLP ( XXXX ). I went back later that afternoon and picked up the forms. I asked why the amount of {$54000.00} was transferred into an IRA, especially strange as the cents from XXXX to XXXX. XXXX XXXX told me the additional funds would be rolled into another IRA, and asked why. I was not given a direct answer, but was told she was splitting it into XXXX IRAs. XXXX, I quickly read through the XXXX pages of paperwork and left. On XXXX XXXX, XXXX I had an appointment with my tax accountant XXXX XXXX XXXX. He looked through all my paperwork, he discovered that there was a statement providing documentation for an IRA for {$54000.00}. I explained that XXXX XXXX said she had split the {$74.00}, XXXX into XXXX IRAs. I called XXXX and asked if she would please email XXXX XXXX the documentation for the IRA. She said she would not email the information to him, but would email it to me. I also asked her to find a copy of the deposited check, which she could not locate. She said she would continue to look for check that was deposited. I did not receive a response email with the IRA deposit until XXXX XXXX, XXXX. As you can see by looking at the following documentation there is a serious discrepancy:1. SunTrust IRA Rollover/Conversion Contribution Form shows amount of {$54000.00} XXXX/XXXX/XXXX 2. SunTrust Time Deposit Receipt shows amount of {$54000.00} XXXX/XXXX/XXXX 3.SunTrust IRA Withdrawal shows amount of {$54000.00} XXXX/XXXX/XXXX XXXX Exchange/Rollover/Transfer form shows amount of {$54000.00} 5. SunTrust Check to XXXX in the amount of {$54000.00} XXXX/XXXX/XXXX ( 7 days after the initial deposit ) 6 SunTrust Printout Showing IRA Deposit in the amount of {$6500.00} XXXX/XXXX/XXXX ( XXXX days after the initial deposit ) Every document has a different deposit amount listed. I did not receive anything for IRS showing IRA deposit for the {$6500.00} rollover into an IRA. I asked XXXX XXXX for documentation for that deposit, once again there is no record or paper trail showing where the funds came from. As of XXXX XXXX, XXXX I have yet to receive a response from her or the Branch providing me sufficient documentation regarding where or to what accounts the entire amount of {$74000.00} that I deposited in the form of XXXX Check from the XXXX. 
I went through every online account on XXXX XXXX, XXXX to review each and every deposit, transfer and withdrawl. I discovered another discrepancy to my SunTrust Signature Account XXXX. The statements show XXXX XXXX XXXX XXXX Transfers to XXXX Account XXXX as follows : 1. {$4000.00} Bank Assisted Transfer to Savings Account XXXX on XXXX/XXXX/XXXX 2. {$3.00} Bank Assisted Transfer to Savings Account XXXX on XXXX/XXXX/XXXX 3. {$4000.00} Bank Assisted Transfer to Savings Account XXXX on XXXX/XXXX/XXXX I can not locate or have any documentation of setting up a Savings Account XXXX. I would not transfer money out of that account as it was to be used for purchasing my new home and associated expenses. XXXX XXXX, XXXX, I called SunTrust Customer Service. I spoke to XXXX different representatives, being transferred each time until I finally spoke with a supervisor, XXXX XXXX, XXXX SunTrust who informed me that XXXX XXXX would be investigating my problems regarding the missing funds, errors in transfers - no response YET!

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