Consumer complaint received 2024-12-06 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:
Case # : XXXX XX/XX/year> I did an application to establish a business account with Truist bank online. I had to schedule an interview with a small business rep so that they could verify my identity for security purposes. 

XX/XX/year> I had the identity verification interview with XXXX XXXX, the Senior Small Business Consultant of the local branch in XXXX XXXX. She verified everything and opened my business checking account. The following day I made a deposit of {$1500.00} at the local branch, it had to be held XXXX business days as standard policy for new accounts. It cleared the following week. 

XX/XX/year> I had a closing for an investment property that I sold and closed with XXXX XXXX  ( XXXX XXXX  ) in the amount of {$59000.00}. I received my funds by bank wire to the Truist business account. 

XX/XX/year> I went into the local branch to add my mother as a signatory to my account so that she could get a card and be able to cash my business related checks. The rep at the XXXX XXXX location had questions regarding my out of state XXXX  license. I explained to her that I recently moved back to XXXX XXXX  from XXXX  and hadn't gotten my ID transferred. She then asked what made me get into this type of business. The way she asked was odd, but I ignored it and thought nothing more of it. 

XX/XX/year>, while in XXXX  handling business, my debit card started declining. I called the toll number for Truist and the rep told me I had to go in to the local XXXX XXXX  because she had made a note on my account for me to come in. 

XX/XX/year> I leave XXXX  and go in to the local branch to speak with the rep, XXXX XXXX. She gave all kind of pushback asking again why I had a XXXX  ID. Then she said I have a XXXX  XXXX, which I told her I do not. She went into another rep 's office and came back asking about my recent bank wire ( from the real estate closing ). I told her where it came from and attempted to show her the documentation/proof but she wouldn't look at it. I gave her the business rep 's name and contact info that opened my account as she was saying she doesn't understand how I was able to open an account with a XXXX ID. She said she flagged the wire as fraudulent and I'd have to speak with her manager to resolve. I asked when her manager would be in and she stated she didn't know nor could she give me any contact info to reach her. The manager ended up reaching out to me later that day and let me know that it wasn't my ID nor my XXXX, but it was the bank wire that the rep flagged as fraudulent. I gave her my real estate attorney 's contact information and was told it would be escalated. 

XX/XX/year> I spoke with the attorney and they hadn't heard from Truist. I explained the issue to the real estate firm during the following days and they began to try to help me by communicating with Truist. The firm 's attorney ( which sent the bank wire ) was also trying to communicate with Truist. Truist said the investigation would take XXXX business days. I called after the XXXX business day and there was no conclusion yet. XXXX 's Trust Account XXXX, XXXX XXXX explained to me that she spoke with Truist and let them know since they felt the wire was fraudulent that they could just send the funds back and that XXXX would issue me a check instead. ( I've attached the email of her explaining this ). Truist took this statement as if she was saying the wire was fraudulent and thus closed my account. They're now holding my funds and will not release back to XXXX 's bank to be reissued back to me.

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