Consumer complaint received 2022-07-17
Product: Checking or savings account — Other banking product or service
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION (NC)

This serves as a formal complaint against Truist bank for deceptive business practices and a chronic sustained pattern of impeding, preventing, delaying and refusing to provide cash withdrawals for legitimate business purposes to a minority owned business. 

While traveling on XX/XX/2022, at approximately XXXX AM, I visited the Truist Bank Branch located XXXX XXXX XXXX XXXX, XXXX, MD XXXX to complete some business banking. I was greeted by XXXX? who was the teller at the window. I made a deposit of business checks into my business checking account in the amount of {$29000.00}. I then requested to make a cash withdrawal of {$18000.00} to purchase product from a business associate whose shop is located up the street from the branch. The balance of my account at the time of the request was {$110000.00} prior to the deposit so I had ample cash on hand to cover the check. 

The teller stated she could not fulfill my request as it was the branch policy that they do not give out more than {$3000.00} cash withdrawals on the weekends. She stated that I would have to provide the branch a five-day notice to access more than {$3000.00}. I stated that I needed the money for unexpected business purposes in the area, and that they would have to try to find a solution. She stated she did not have that amount of money on hand, it was in the vault, the branch manager was not on site, and she had no way to access the cash to fulfill my request. During this time, I witnessed another teller place five large stacks of cash likely totaling much more than my request into a backpack and hand it to a customer who was waiting in the lobby. 

She then asked me to speak with XXXX who repeated all the same talking points as the prior teller. He repeatedly demanded to know what the money was for which I again stated the money to buy product from a colleague whose shop was up the street from the branch. I told him the name of the business who banks at the same branch. He then stated in a threatening manner that he would be reporting me and the transaction to the IRS. I replied that I knew that the transaction would be reported accordingly as it was over {$10000.00}. He stated that I was very suspicious and hinted that I might be trying to rob the bank and continued to impede my business transaction. He seemed to enjoy giving me a hard time about the withdrawal and acted more like the gestapo or an interrogator than a bank teller. 

He stated that the transaction would need approval prior to the withdrawal. I then asked him if he would be able to get the cash with an approval and he replied yes. Quite frankly I was totally astonished, as this basically confirmed that all the reasons for both tellers denied me the withdrawal were complete and outright lies. There was no {$3000.00} limit, they did not need the branch manager and they did in fact have access to the cash. 

XXXX then called XXXX XXXX and asked me for a list of deposits and withdrawals which I provided with ease. He confirmed all the deposits and withdraws. I offered numerous other forms of identification which he flat out refused including my other checking accounts and bank cards that I had with Truist. He then proceeded to lie to XXXX right in front of me by stating that I was refusing to tell him what the funds were for after I told him numerous times. He asked where I opened the account which I told him, he then asked about my license and denied the withdrawal stating that the issue date on my license was wrong. I was totally shocked as I have been engaging in this kind of business with BBT, SunTrust and Truist for several years withdrawing much larger amounts and nobody had ever used this reason to deny me a withdrawal. 

This adverse action has now directly cost me {$13000.00} in profit on the product that I was supposed to buy from another Truist client. 

This is not the first time that this Truist has made extraordinary efforts to impede and delay withdrawing funds out of my account for legitimate business purposes. Truist Bank has clearly engaged in deceptive business practices by blatantly lying to me about all the reasons to impede and deny me legitimate business withdrawals. Something must be done this banks practices as it has now cost me {$13000.00} in profit by denying my lawful request. 

Respectfully, XXXX XXXX XXXX, XXXX.