Consumer complaint received 2025-01-20 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION
State: NC

Complaint narrative:
Dear Truist Bank Customer Service, I am writing to formally address an ongoing issue with my account and to express my serious concerns regarding the handling of my deposit and the resulting consequences. This situation has become both an undue hardship and an unlawful action on Truist 's part, and I feel compelled to notify you that this issue constitutes a breach of contract, a violation of federal banking laws, and has caused substantial financial and emotional distress. If this matter is not resolved promptly, I will be forced to pursue legal action. 

On XX/XX/year>2024, I deposited a check with Truist Bank. A hold was placed on the check until XX/XX/year>2024. However, my check was deposited and available on XX/XX/year>2024. Despite this, I was unable to access my funds. After contacting Truist support through the banking app, I was informed that a claim had been filed on my account regarding the deposit and that an investigation was ongoing. This was particularly troubling, given that my funds were already deposited and available in my account. 

I visited my local Truist branch and called the fraud management team assigned to my case, where I was told that the investigation would conclude by XX/XX/year>2024. That date has passed, and no resolution has been provided. I have since called multiple times, only to receive inconsistent and contradictory responses from different representatives. 

On XX/XX/year>2024, I was informed by the fraud department that Truist was ending its relationship with me, despite my having done nothing wrong. Furthermore, I was told that I must wait for a letter to determine whether I can withdraw my funds or receive a check. This has caused extreme inconvenience, as I am unable to access my funds to pay bills or meet any financial obligations. 

Throughout this process, I have submitted numerous documents at the request of Truist. This includes proof of address and a notarized statement authorizing the check to be issued by the payor, as requested by the Truist investigator. Despite providing these documents, I have been continually asked for additional paperwork, and the process has now been dragged out for over a year. Each time I submit a document, I am told there is another request, and this pattern of constant document requests is both unprofessional and misleading. 
after I submit all the requested documents the investigator asked for the hold to be lifted unprofessionally and misleadingly, she did not lift the hold misleading myself and other Truist supervisors they were in direct contact with her confusing everybody with her misleading actions.

Truist 's failure to provide consistent and clear answers, its unlawful withholding of my funds, and its termination of our relationship constitute a breach of the agreement I entered into with your institution. It is a violation of both federal banking regulations and my legal rights as a customer. Specifically, under the Expedited Funds Availability Act, I am entitled to timely access to my deposited funds unless a legitimate reason for the hold exists, and no such reason has been provided. Additionally, the handling of this matter, including the constant delays, is both damaging and unfair. 

If Truist does not immediately resolve this situation, I will be left with no other option but to pursue legal action, which may include claims for breach of contract, violation of federal banking laws, and damages for financial losses and emotional distress.

To avoid legal proceedings, I demand the following : Immediate clarification on the reasons for the hold placed on my check, despite the funds being available in my account since XX/XX/scrub> 2024. 
A detailed explanation of why the investigation was extended beyond XX/XX/year>, and an immediate conclusion of the investigation. 
Immediate access to my funds, or at a minimum, a guarantee that I will be able to withdraw them without further delay. 
A full and detailed response to the reasons why Truist has decided to terminate its relationship with me, despite my having done nothing to warrant such a decision. 
Reimbursement of any financial costs or damages I have incurred as a result of Truist 's actions.

I expect a formal response to this letter no later than within 7-10 days. Should this issue remain unresolved or should Truist continue to delay or withhold my funds, I will have no choice but to pursue legal action to recover my funds and seek appropriate remedies. 

I look forward to your prompt resolution of this matter.

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