Consumer complaint received 2016-08-21 00:00:00
Product: Bank account or service — Checking account
Issue: Account opening, closing, or management — 
Company: SUNTRUST BANKS, INC.
State: TX

Complaint narrative:
I have banked with SunTrust bank for nearly 20 years, in addition to having XXXX with them for 5 years and being one of their most decorated XXXX in XXXX, FL ( SunTrust XXXX ). After having XXXX and banked with them for so long, I received a letter in the mail stating my accounts were set to be closed and no further information about this decision could be given -- and that the decision was " irrevocable ''. 

I received the same letter last year from XXXX XXXX in Client Services, but was able to overturn the decision based on the fact they KNEW me and their issue at the time was incoming wire transfers from XXXX XXXX. I explained that I obtained a job in XXXX XXXX as a XXXX. I was simply transferring part of my salary, once a month, to SunTrust. It was black and white and I told them I could send them my employment letter and proof of income, if needed. A week later, they stated all was well and that my accounts would remain open. 

Now, one year later, I received the same account closing letter. 

My father wired in {$200000.00} from abroad 3 months ago. My father XXXX and I let SunTrust know the wire was incoming and contacted the branch manager to make sure she was aware and also to let me know if there were any forms or documentation they needed from me. 

At that point, the branch manager stated all was well and convinced me to open a money market account to keep part of the money in, which I did. She also stated I should use my checking account more often since SunTrust is such a convenient bank, which I ALSO did. I routed some of my business direct deposits through the account ( since I was a sole proprietor and the business was simply in my name, she stated that would be okay ). I shared with her my online store addresses, which were adequately successful and which were the source of my deposits. So I started receiving my earnings in my SunTrust account and moved things around to make it my primary account. 

Next thing I know, two weeks ago, my internet banking could not accessed. I called in and they say a letter has been sent to me stating my accounts were set to close. Reason? None given. I spoke to a VP in Client Services named XXXX XXXX who provided no explanation or reason, and that my account would simply be closed. 

This happened after I received {$200000.00} and after I opened a money market account with them, at their request, and after I started receiving my deposits primarily through SunTrust. 

The inconvenience this caused was significant and nearly crippling the short term, and the fact they even asked me to open further accounts then closed them was a slap in the face, especially since I 'd also banked with them for so long AND XXXX for them too. My account has been exemplary, no overdrafts, never any issues. 

I believe the closing is purely an emotional decision made by someone who did not study my case properly, or someone who has shown bias to an XXXX XXXX name ( even though I am actually XXXX ). I had {$100000.00} in the bank when they closed the account, most of it sitting idle in a money market account. 

I am certain this is a story the media would devour, but I prefer going a more civil route. For now.

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