Consumer complaint received 2025-08-03 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Overdrafts and overdraft fees
Company: TRUIST FINANCIAL CORPORATION
State: TX

Complaint narrative:
This is a complaint about the Truist Bank operatiional strategy benefitting themselevs instead of customers. 

I have a Business Checking account with Truist and charged me overdraft fee because of the hold placed on my deposits ( count - XXXX ) leading to the non-availability of funds for outgoing XXXX clearance. 

The bank charged {$36.00} overdraft fees XXXX and refunded XXXX of them as a courtesy check ( seems like the bank has a 12 month policy of refunding once ). The other XXXX overdraft fee amounting to {$72.00} still holds good by the Truist bank.

Theere were two checks deposited through mobile deposits utilizing truist mobile app to Truist XXXX Checking account on XX/XX/year>. 

These funds were deposited to cover the XXXX clearance scheduled for XX/XX/XXXX. But, to my utter surprise, I was was being notified on XX/XX/year> ( when the ACH clearance was already in-process ) by Truist bank that BOTH THE MOBILE DEPOSITS/CHECKS have been put ON-HOLD ( reasons still not known as to why ) in its entirety which led to the couple of ACH clearance to be returned ( or failed ) by the merchants who were trying to withdraw funds from my Truist Business Checking account. This in-itself incurred me losses of {$350.00} beyond the overdraft fees charged by Truist bank. 

To add more salt to the pain, Truist charged me {$72.00} in total for the over draft fees. 

I want CFPB to investigate Truist bank as the the algorthims used by Truist to put HOLDS on the deposits even though they cleared successfully by the orginating banks. 

XXXX being - XXXX. Truist bank utilizing algorithms are not small business friendy and making it difficult to do business with these holds without proper justification. 

XXXX. Account has been established long ago with proven track record of no overdraft fees ever in the past and has been always in good standing. This was not put into consideration during ACH clearance and charfing overdraft fees. ACH clearance should have been conditionally approved while HOLDS on these deposits should clear. 

3.Truist bank following policies are not customer friendly and Truist bank business centric strategy to aid to bank profitability with no consideration of the losses that small businesses like us have to incur are making a great negative impact. 

I would request CFPB to scialize this to all small business owners that this bank is no more trustworthy to operate business accounts because the acts performed by the bank like HOLDS ON FUNDS are neither explanable nor justifiable for any reason. 

There has been NO REASON provided until this date as to why these funds were put on hold. 

Truist bank should refund overdraft fee atleast if not compensating for the losses incurred ( {$350.00} ) due to the hold placed on the deposit 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 monetary relief