Consumer complaint received 2026-01-14 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
On XX/XX/XXXX, I deposited {$23000.00} in cash into my personal account at Truist Bank. The bank accepted the deposit at the branch, credited the transaction, and issued a deposit receipt, confirming that the funds were received by Truist. This transaction was completed in person and involved cash only, not a check, wire transfer, ACH, or electronic instrument. 

Shortly after the deposit, Truist Bank placed the funds on administrative hold, claiming the deposit was suspected of fraud. I was never provided with any written notice, fraud determination, supporting documentation, or legal explanation justifying this hold. No law enforcement agency contacted me, and I was never informed of any court order, seizure notice, or governmental action involving these funds. 

On XX/XX/XXXX, Truist Bank closed my account while still retaining the {$23000.00}. Despite closing the account, Truist did not issue a cashiers check, refund, or remittance of the remaining balance. I also did not receive any written explanation regarding the continued retention of my money after account closure. 

From XX/XX/XXXX onward, Truist Bank provided no updates, no correspondence, and no resolution regarding my funds. I did not receive periodic notices, status letters, or requests for additional information. For over XXXX year, Truist remained silent while continuing to hold my money. 

When I contacted Truist again after this prolonged period, I was told that the funds were still on hold and that Truist had allegedly contacted another institution that supposedly confirmed the deposit was fraud. This explanation is false, misleading, and illogical, as the transaction in question was a cash deposit, not a negotiable instrument or inter-bank transaction. There is no external institution that can verify or invalidate a cash deposit once accepted by a bank. 

To this day, Truist Bank continues to retain my {$23000.00} without returning it, without providing legally required documentation, and without citing any valid statutory or court-ordered authority. 

IMPROPER CLASSIFICATION OF A CASH DEPOSIT AS FRAUD Truist Banks assertion that a cash deposit was determined to be fraudulent is fundamentally flawed. Cash, by its nature, is not drawn on another institution, does not rely on third-party authorization, and is not subject to return once accepted unless it is proven counterfeit or seized pursuant to lawful authority. 

At no point did Truist : Claim the cash was counterfeit Provide a Secret Service or law enforcement notice Provide a seizure receipt or forfeiture documentation Provide a court order authorizing retention Once Truist accepted the cash deposit and issued a receipt, the funds became a bank liability owed to the depositor, not contingent property subject to indefinite internal review. 

VIOLATIONS OF UCC ARTICLE 4 ( BANK DEPOSITS AND COLLECTIONS ) Under Uniform Commercial Code Article 4, when a bank accepts funds for deposit, it assumes responsibility for proper handling and settlement. Although Article 4 commonly addresses items such as checks, its principles regarding finality of acceptance, accountability, and timely disposition apply here. 

By accepting the cash and crediting the account, Truist completed the transaction. There is no UCC provision permitting a bank to hold deposited funds indefinitely without : Written notice A lawful basis A defined resolution process Truists actions constitute wrongful retention and conversion of funds, as the bank continues to exercise control over money that legally belongs to the depositor. 

VIOLATIONS OF CONSUMER FINANCIAL PROTECTION PRINCIPLES Federal consumer protection law requires banks to act in a manner that is : Transparent Fair Timely Supported by documentation Truist violated these principles by : Failing to provide written notice of the hold Closing the account without returning remaining funds Failing to communicate for over XXXX year Providing contradictory and unsupported explanations Under CFPB unfair, deceptive, or abusive acts or practices ( UDAAP ) standards, it is unfair and abusive for a financial institution to : Retain consumer funds indefinitely Withhold legally required explanations Shift the burden onto the consumer without due process DUE PROCESS AND UNLAWFUL CONVERSION OF FUNDS Truist Banks conduct also violates basic due process principles. If a bank believes funds are connected to unlawful activity, the proper course is to : Notify law enforcement Freeze funds pursuant to a legal hold Provide notice to the customer None of these steps occurred. 

There is no legal authority allowing a private bank to permanently retain customer funds based solely on an internal suspicion, particularly when : No crime has been charged No forfeiture proceeding exists No court order has been issued By continuing to hold my {$23000.00} without lawful authority, Truist is engaging in conversion, defined as the unauthorized assumption and exercise of ownership over property belonging to another. 

ACCOUNT CLOSURE WITHOUT REMITTANCE When Truist closed my account on XX/XX/XXXX, it had a duty to : Return the remaining balance Issue a cashiers check Or provide instructions for remittance Truist did none of these. Closing an account does not extinguish the banks obligation to return customer funds. Retaining the balance after closure, without legal authority, is improper and unlawful. 

FAILURE TO PROVIDE REQUIRED DISCLOSURES AND NOTICES At no time did Truist provide : A fraud determination letter A hold notice explaining duration and legal basis A seizure or forfeiture notice A right-to-appeal or dispute process This lack of disclosure violates basic banking standards and deprives the consumer of the ability to challenge the banks actions. 

ONGOING HARM AND FINANCIAL INJURY As a result of Truist Banks actions, I have suffered : Loss of access to {$23000.00} of my own money Prolonged financial uncertainty Emotional distress Significant time and effort attempting to resolve the issue The harm is ongoing, as the funds remain unlawfully withheld. 

REQUESTED RESOLUTION I am requesting that Truist Bank be required to do XXXX of the following immediately : Release and return the full {$23000.00} without further delay, OR Provide a written explanation, including : The exact legal authority relied upon Any court order or law enforcement directive The date and basis of any alleged fraud determination Absent such documentation, Truist has no lawful right to continue holding my funds. 

CONCLUSION Truist Bank accepted my cash deposit on XX/XX/XXXX, closed my account on XX/XX/XXXX, and has retained my money for over a year without lawful justification. This conduct violates consumer protection principles, UCC banking obligations, and fundamental fairness. 

I respectfully request the CFPBs assistance in compelling Truist Bank to resolve this matter promptly and return my funds.

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