Consumer complaint received 2024-05-28 00:00:00
Product: Checking or savings account — Checking account
Issue: Opening an account — Didn't receive terms that were advertised
Company: TRUIST FINANCIAL CORPORATION
State: MD

Complaint narrative:
On XXXX, I opened a checking account with Truist for small businesses using the promo code XXXX. Terms and Conditions state that new small business clients can receive a bonus of {$300.00} after making Qualifying Deposits of {$1500.00} or more within 30 days of account opening - " Qualifying Deposits '' are defined by excluding debit refunds and NSF fees. T & C also state that promotional deposit will be depositing into the account within 4 weeks of qualifying activity. 

Due to a common glitch with Truist, my new business checking account was not linked to my online banking credentials, and I had to visit a branch ( XXXX ) to have new credentials created for the business account, at which point I made completed the qualifying activities for the promotion. By XXXX, I noticed that Truist 's promotional tracker ( XXXXtruist.com ) had not updated to reflect the promotion being attached the account ; I called and a very helpful CSR submitted a research form to the promotions team before telling me that the promotions team would reach out. On XXXX, I received an automated email indicating that the promotion had been applied to the account, and I received a separate automated email that I had not met the qualifying criteria for the promotion and the reward would not be deposited. Note that XXXX is before the end of the qualification period of 30 days from account opening. I called again, and a very helpful CSR submitted a research form to the promotions team again and told me the promotions team would reach out. 

On or about XXXX, I received an automated email stating that my account had been enrolled in the promotion, and upon checking offers.truist.com I see that my account is indeed in " Qualification Pending '' status as of XXXX. Over the next 8 weeks, I have called the number provided in the automated emails multiple times. Each time, a helpful CSR indicates that all they can do is submit a research request and that I will hear from the promotions team in 15 business days. Each time I have no heard from the promotions team. 

As of today, XXXX, my account still shows qualification pending. No CSR seems to be able to reach the promotions team directly, or do much beyond submit a research ticket. Truist is now 4 weeks past the Terms and Conditions stated payout time if one interprets the enrollment date and qualifying activities as occuring on XXXX. Truist is 8 weeks past the enrollment date of XXXX, and 12 weeks past my reasonable understanding of the beginning of the qualifying promotional period ( XXXX, the opening of the account. ) I do not seem to be able to seek resolution with Truist directly, as research requests submitted on my behalf do not seem to generate a response from the promotions team. 

I spoke with a very helpful CSR again ( XXXX, give her a raise Truist ) again today who advised me that she could not do much more than submit a research request - which could take 15 business days to receive a response and 4 weeks to receive the deposit. I believe she did submit that research request- if it is processed according to the provided timeline, Truist will be outside of the bounds of their terms and conditions by a minimum of 7 weeks if one affords them a generous interpretation of the enrollment date, and outside the bounds by 17 weeks if one interprets the terms and conditions strictly.

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 non-monetary relief