Consumer complaint received 2025-12-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: TRUIST FINANCIAL CORPORATION
State: AL

Complaint narrative:
Bank : Truist Bank Product : Business Checking Account Issue Type : Funds Availability/ Mobile Deposit/ Unfair & Deceptive Practices I opened a new Truist business checking account on XX/XX/year> and enrolled in their bonus offer for their business accounts. I mobile deposited a check for {$1400.00} using Truist 's mobile banking app as I had already unsuccessfully found what was considered a " Qualifying deposit '' based on their policies and procedures, and offer dialogue. I had been given conflicting information by every agent that I have spoken with, one would tell me that zelle payments were not considered a " qualifying deposit '' and another would say that they were considered a qualfied deposit. I decided to attempt to get clarity on this, but I could not. 

My main issue is that At no point prior to initiating or confirming the mobile deposit did Truist disclose that an extended or exception hold would be applied, nor did the app display any specific funds availability date. 

Only after the deposit was submitted and could not be cancelled, did Truist disclose that a " 7 business day hold '' with funds unavailable until XX/XX/XXXX, and provide a hold notice of the extended availability, which was contrary to their app clearly stating the check would have " standard availability '' prior to initiating the deposit. By that time, the check had already been endorsed and captured, leaving no opportunity to reject the hold or choose an alternative deposit method. 

Other banks I use, including banks like XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX clearly disclose extended holds and exact availability dates before customers confirm mobile deposits, allowing customers to accept or cancel the transaction. Truist 's mobile deposit design does not provide this transparency. 

Truist 's staff and phone representatives provided conflicting information regarding who could assist, and ultimately refused to cancel the deposit or expedite release of funds, citing generalized fraud risk with new accounts rather than addressing the lack of pre-deposit disclosure. 

While Regulation CC permits exception holds, it requires timely and meaningful notice. Truist 's practice of disclosing extended holds only after deposit intiation removes any meaningful customer choice and functions as a post-transaction change to material terms.

This mobile deposit process is unfair and deceptive because it withholds critical information as well as untruthful information in relation to funds availability timing until after the consumer is irrevocably committed. The inability to cancel or redirect the deposit after disclosure compounds the harm, particularly for small business customers relying on cash flow.

I am requesting a compliance review, immediate release of the deposited funds, and corrective action requiring Truist to disclose exception holds and exact availability dates before customers ( including new customers ) initiate mobile deposits.

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