Consumer complaint received 2024-10-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: TRUIST FINANCIAL CORPORATION
State: KY

Complaint narrative:
On XX/XX/year>, I went to a local Truist Bank Branch and requested to open a checking & savings account. I had cashed out my pension with a previous employer, because I had lost my job and have had difficulty finding long-term, permanent employment. This check was for a significant amount of money, {$23000.00}. The decision was a difficult one, but I was desperate to stand to lose now, so I risked my future security to do so. 
The branch leader took my information and opened both accounts for me with a welcoming smile. He said because of the amount of the check there may be a waiting period to gain access, which is understandable. However, upon handing him the check, he said, because it was a government check, I could expect to see the funds available in a couple of days. That was great news for me. I really wanted to get the bills I owed paid!

No such luck! Less than 24 hours of opening my account, I attempted to log in to the on-line banking app and received an alert that my account was locked due to suspected fraudulent activity. 
When I called customer service, I was transferred to the fraud department. They told me to go to the branch for further information. The gentleman at the branch acted like he had no idea what was noted on my account. All he did was give me a phone number for a third party reporting company and said I should call them. 
However, that company ( XXXX  ) did not make the decision to lockdown my account, Truist did. I called Truist fraud department back and they said something on the report from XXXX  caused them to flag this check as possibly fraudulent. Fine, tell me what you need to verify it. I offered the phone number for the check writer, paperwork validating the cash out, the stub from the check that was sent via XXXX. They did not take any of this information from me. I was told it would be investigated, but they would be closing the account regardless of the result.

We are now two weeks deep. I have called almost daily for updates, only to be told the investigation was still in process. Each time I've offered to give them information to verify the check. Mind you, the check cleared the issuing bank and they received the funds on XX/XX/year>! They are now holding my cash. How and why do they need to verify the validity of this check two weeks later. Don't they think that the issuing bank would have refused to release that amount of money and conduct their own investigation if it weren't legitimate? There is no justification. 
Just yesterday, I was put through to a supervisor who seemed willing to help. She connected with the elusive " back office '' that no one else has access to. She took the phone number for the pension authority, so the " security analyst '' could call to verify the check. Finally, I thought... today I got a call back stating that they were able to verify the check was issued and valid, but they could not verify the amount of the check, so they want a letter stating the check was issued to me for said dollar amount and has cleared without any stops or holds. Signed, dated, location information ... my lord! You called them and the told you the check is valid and cleared! They need the amount verified to ensure it hasn't been altered. Once I have this in writing, I have to take it to a branch, so they can scan it in and attach to my account for review. 
This has gone to the extreme! 
Not to mention, the daily calls I made prior to yesterday, i could have been asked to provide this information sooner than two weeks in! 
I am now facing repossession of my vehicle. My car insurance has been cancelled, and they now want {$200.00} more each month to reinstate because it cancelled for non-payment! I have a storage unit, full of items I hold very dear, family heirlooms, childhood memories, that has a lien on it. If this is not resolved, don't can pay them, they will auction off those items. The credit card company calls me 10-15 times/day. The stress and worry has been relayed to every representative I've spoken to, as well as the supervisor. After reading the other complaints here, I am sick to my stomach worrying they aren't going to release these funds, the pension, I put in many years of hard to work earn.

Two weeks ago, as I walked out of the branch, I was relieved that my money was secure with this institution, and I was safe from losing the things that are so important to my daily life. Instead, I am worse off, after losing my insurance and incurring additional fees, still not knowing when or if, the money that is rightfully mine will be given to me. 
What an awful situation to be put in, and at this point, there's no reason to continue your suspicion. The money is mine, and is being held without justification. Help!!! 
PLEASE HELP!!!

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