Consumer complaint received 2023-04-21
Company: TRUIST FINANCIAL CORPORATION
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I signed up for a new account with Truist on XX/XX/XXXX using a promotional code that offered {$400.00} bonus for new accounts when you have at least 2 direct deposits totalling {$1000.00} or more within your first 90 days. ( 90 days is also the only timeline laid out for qualification period in the Terms and Conditions which I have attached below as well ). 

I set up XXXX XXXX on the account and received two {$500.00} direct deposits ( XX/XX/XXXX & XX/XX/XXXX ) which met the deposit requirements. 

On XX/XX/XXXX I received and email ( Attached ) notifying me that they had completed their final review and determined that I did not qualify. This did not make sense as the 90 day qualification period was not even over. 

I then called the number in the message to discuss why. During this first call, I was told it was because I had held an account with them before. I advised the rep that I had not had an account with Truist ( May have had a Suntrust account years ago but that was for sure over 10 years. ) I then also read the Terms and Conditions to confirm that this was not laid out in them. ( see attached ) I then placed a second call to explain this and was at that time told that it was not a previous account issue rather it was an issues that the account was " overdrawn '' ( her words not mine ) when they reviewed the account on XX/XX/XXXX. 

Since this is not an account that I have even begun to use yet ( only 40 days open ) I was confused. At this point, I reviewed the account and noticed it was indeed - {$3.00} on that day because of a fee to mail a printed statement ( which was the exact same day ( XX/XX/XXXX ). 

I explained to the rep and the manager that this shouldn't disqualify me as technically I never authorized the account to " Overdraw '' and i shouldn't be penalized for a fee that just happened to hit the account the same day that they reviewed. 

Additionally, I had set up alerts on my account to get text notifications which should have notified me of the negative balance and it did not. The fact that it did not tells me that either ( a ) they do not consider it a actual " overdraft '' / account in bad standing or ( b ) it was deliberate so they could immediately review my bonus offer and deny me. 

I explained this to the manager who said there was nothing she could do but understood how that looks suspicious. 

The account shouldn't have been reviewed until the 90 day point that was laid out in the Terms and Conditions, at which time I had planned to be using the account and this would have been a moot point. 

There is no explanation anywhere that they could and/or would review them at any random or stated time frame before the 90 days laid out in there Terms and Conditions. 

Additionally, I should have gotten a notification either way which I did not either. 

It seems to me that they have this in place to attempt to get out of holding to their bonus promises. The manager advised there was not other way to have this reviewed or reconsidered as all decisions were " final '' implying they never make any mistakes. 

The fact that I was given multiple reasons ( first the old account and then the balance ) makes me believe their entire goal is just to avoid holding true to the bonus commitment.

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