Consumer complaint received 2026-04-01 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
In early XX/XX/year>, during an in-person visit to a Truist branch, I was informed of the existence and balance of an XXXX account for which I am the named beneficiary. I was advised by a bank representative that the funds were mine and that, as the now-adult beneficiary, I could access or move them. Relying on that information, I later returned to the branch, presented identification, reviewed the account with a banker, and completed a partial transfer of approximately half of the funds into my personal checking account. At that time, approximately {$8600.00} remained in the XXXX account from an original balance of about {$17000.00}. After that transfer, the situation changed dramatically. Access to the remaining funds became disputed or restricted, and I later learned that the balance left in the account had been reduced to approximately {$0.00}. I have repeatedly asked Truist to explain what happened to the remaining funds, on what authority any additional transfer or depletion occurred, and why the remaining funds were not protected while the matter was supposedly under review. I have not received a clear answer. Importantly, Truist did not formally notify me that the withdrawal had been disputed, reversed, or challenged, nor did Truist formally notify me that my accounts had been temporarily frozen or restricted. I had to discover that the withdrawal was being treated as disputed through my own efforts and branch-level communications, rather than through any clear, official, or timely notice from the bank. I was not given prompt or formal notice that the transfer had been disputed or that my accounts had been affected, and I should not have had to piece together that information myself. This lack of formal notice and transparency made the situation even more confusing and prevented me from understanding the status of my funds and accounts in a timely manner. On XX/XX/year>, Truist sent a letter stating, in substance, that funds in the XXXX account belonged to the minor beneficiary and that, upon reaching the age of majority, those funds could be transferred to the now-adult beneficiary without the consent of the designated adult or custodian who opened the account on the beneficiarys behalf. However, despite making that statement, Truist also took the position that it would require either a court order or an agreement to resolve the matter, while failing to clearly explain its legal basis, what specific funds it considered disputed, and what happened to the remaining balance. On XX/XX/year>, I specifically asked Truist to provide : ( 1 ) a clear explanation of what happened to the remaining funds left in the XXXX account, ( 2 ) the transaction history and supporting documentation for the account, ( 3 ) clarification as to whether any portion of the remaining funds was disputed, restricted, or unavailable to me and the precise basis for that position, ( 4 ) the exact type of court order or court document Truist would accept, and ( 5 ) the form of any agreement it would be willing to accept from the adult or custodian who opened the account on my behalf. Truist did not meaningfully answer those questions. Truist also gave a response deadline, and that deadline has now passed without a sufficient written response, without the requested clarification, and without any clear explanation of what happened to the remaining funds. The bank has therefore left me in a position where it has acknowledged principles that appear to support my rights as the adult beneficiary, while at the same time withholding clear access, withholding material information, and failing to identify what exact document it claims is required. This failure is now causing real financial hardship. Rent is due, bills are overdue, and I am on the verge of financial instability. I slowed down my search for additional work because I was advised that these funds were mine and that I could use them. I relied on the banks representations, and Truists failure to provide timely notice, timely clarification, and a clear response has worsened my financial situation. At this point, I am seeking immediate regulatory assistance to require Truist to explain what happened to the remaining funds, provide the requested records and transaction history, identify the exact legal and documentary basis for its position, and address the hardship caused by its delay and nonresponse.

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