Consumer complaint received 2026-03-04 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:
I am writing to formally follow up regarding the response I received from Truist Bank dated XX/XX/XXXX, concerning the matter involving the {$23000.00} cash deposit made on XX/XX/XXXX into my personal account at a Truist branch location. According to the information provided in Truists correspondence, the matter was being investigated and reviewed internally. However, as of the date of this letter, more than one month has passed since Truist issued that response, and I have not received any further communication, update, or final determination regarding the outcome of the investigation. Because of the prolonged silence and the continued withholding of my funds, I am requesting an immediate update and written confirmation of the results of Truist Banks investigation. This letter serves as a formal follow-up request for the status and resolution of the investigation referenced in Truists XX/XX/XXXX communication. Background of the Deposit On XX/XX/XXXX, I deposited {$23000.00} in cash into my personal account at a Truist Bank branch. The deposit was made in person with a teller and consisted exclusively of U.S. currency. The transaction did not involve any check, ACH transaction, wire transfer, cashiers check, money order, or other negotiable instrument. The teller accepted the funds, processed the transaction, and credited the deposit to my account. At the time of the transaction, Truist issued an official deposit receipt confirming acceptance of the funds. No concerns were raised during the transaction, and there were no indications that the deposit was irregular, suspicious, or problematic in any way. Once Truist accepted the cash deposit and credited the funds to my account, the deposit became a completed transaction under standard banking procedures. At that point, the funds became a liability of the bank owed to the depositor, meaning Truist assumed responsibility for safeguarding and managing those funds within the account. Administrative Hold Placed on Funds Shortly after the deposit was credited to my account, Truist Bank placed an administrative hold on the funds, claiming that the deposit was suspected of fraud. Despite this serious allegation, Truist did not provide me with any written notice explaining the basis for the hold, the duration of the hold, or the specific facts supporting the allegation of fraud. In particular, I was never provided with : Any written explanation describing the alleged fraud Any documentation showing that the funds were counterfeit Any notice that law enforcement was involved Any notice of a court order authorizing seizure or retention of the funds Any notice of a forfeiture proceeding Any written determination that the funds were unlawful At no point during this process was I given a clear explanation of why my funds were being withheld. Closure of the Account XXXX XX/XX/XXXX, Truist Bank closed my account while still retaining the entire balance of {$23000.00}. Closing the account did not resolve the issue. Even after the account was closed, Truist did not return the funds. Specifically, Truist did not : Issue a cashiers check for the balance Return the funds via wire transfer Send a check by mail Provide instructions for reclaiming the funds Provide written justification for retaining the money Closing an account does not eliminate the banks obligation to return funds belonging to the account holder. Yet despite closing the account, Truist continued to retain the balance. Lack of Communication for an Extended Period From XX/XX/XXXX onward, Truist provided no updates or communication regarding the status of the funds or the investigation. For more than a year following the account closure, I did not receive : Any written updates regarding the investigation Any explanation regarding the hold Any requests for additional documentation Any formal fraud determination Any notice explaining why the funds remained withheld The absence of communication during this period was deeply concerning, as it left me without any information regarding the status of my own money. Truists XX/XX/XXXX Response On XX/XX/XXXX, Truist issued a response indicating that the matter was being reviewed or investigated. However, the response did not provide a final determination or resolution. Instead, the response suggested that the matter was still under review. While I appreciate that Truist acknowledged the complaint and stated that it was reviewing the issue, the response did not answer the most important question : What is the outcome of the investigation, and when will the funds be returned? Now that more than one month has passed since that response, it is reasonable to expect that the investigation should be completed and that the results should be communicated. Continued Retention of Funds Without Explanation As of today, Truist Bank continues to retain the full amount of {$23000.00}, even though : The deposit consisted of cash The funds were accepted by the bank The account has already been closed No legal authority for retaining the funds has been identified Without a court order, law enforcement seizure, or other lawful directive, there is no apparent legal basis for Truist to continue holding my funds indefinitely. Banks are not permitted to retain customer funds permanently based solely on internal suspicion without due process or legal authority. Clarification of Alleged Fraud During later conversations, I was told that another institution allegedly confirmed that the deposit was fraudulent. This explanation is confusing and inconsistent with the nature of the transaction. The deposit in question was a cash deposit, not a check or interbank transfer. Because the transaction involved U.S. currency deposited in person, there is no external financial institution capable of confirming or rejecting the validity of the funds once they have been accepted by the bank. Therefore, I am requesting clarification regarding : Which institution Truist allegedly contacted Why that institution was contacted What information was supposedly verified How that institution could determine that a cash deposit was fraudulent This explanation raises serious questions about the accuracy of the statements provided to me. Request for Investigation Results Given that more than one month has passed since Truists XX/XX/XXXX response, I am requesting that Truist provide the final results of its investigation. Specifically, I am requesting written confirmation addressing the following questions : Has Truist completed its investigation into the XX/XX/XXXX deposit? If the investigation has been completed, what was the final determination? If the deposit was determined to be fraudulent, what evidence supports that conclusion? Was the currency determined to be counterfeit? Was any law enforcement agency involved in the investigation? Was any court order issued authorizing retention of the funds? If the investigation is still ongoing, what is the expected timeline for completion? These questions are necessary to understand Truists position and to determine how this matter will be resolved. Request for Immediate Resolution Given the amount of time that has passed since the deposit was made and since Truist issued its XX/XX/XXXX response, I respectfully request that Truist resolve this matter promptly. Specifically, I am requesting that Truist do one of the following : Option 1 : Return the full amount of {$23000.00} immediately. Option 2 : Provide a detailed written explanation identifying : The legal authority permitting Truist to retain the funds The results of the investigation Any law enforcement involvement Any court order related to the funds Absent such documentation, Truist has no lawful basis for continuing to retain my funds. Importance of Timely Resolution This matter has been ongoing for an extended period of time, and the continued retention of my funds has caused significant inconvenience and financial harm. I have made every effort to resolve this matter in good faith and to cooperate with Truists review process. However, the absence of a clear resolution after such a long period is deeply concerning. A timely and transparent resolution is necessary to restore confidence and ensure that this matter is handled appropriately. Conclusion This letter serves as a formal follow-up request regarding the results of Truist Banks investigation referenced in its XX/XX/XXXX response. More than one month has passed since that response, and I have not received any update or final determination. I am therefore requesting that Truist provide a written response addressing the status of the investigation and explaining the basis for retaining my funds. If the investigation has been completed, I request that Truist provide the final determination and return the funds immediately unless a lawful basis exists for continued retention. I respectfully request that Truist respond promptly so that this matter can be resolved without further delay. Thank you for your attention to 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