Checking or savings account -- Managing an account -- Complaint #8366505
Complaint Overview
Complaint ID: 8366505
Company: Truist Financial Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: North Carolina
ZIP Code: 27587
Date Received: 2024-02-17T12:00:00-05:00
Date Sent to Company: 2024-02-17T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
My son works for a small business and has received paper checks XXXX. He signs check to me, I sign and deposit in my checking. I help him with his childcare and expenses. We deposited another paycheck for {$700.00} ( with business LLC + phone on check ) into my checking via ATM at local branch on XX/XX/year> as usual. Bank added XXXX to account, held XXXX - as usual - until next business day - XXXX. On XX/XX/XXXX I received an e-mail that they are " delaying the availability of XXXX '' " This delay has been effected because we believe the check may not be paid for the following reason ( s ) : WE HAVE CONFIDENTIAL INFORMATION THAT INDICATES THE CHECK MAY BE RETURNED AND MAY REQUIRE AN ADDITIONAL REVIEW. '' On the XXXXXXXX XXXX my son asked his boss if the check had any issues. His boss showed him on his phone that the check had cleared his account. My husband called the bank on Thursday when the funds still were not in the account and it was at risk of overdraw. The person and supervisor reference some paragraph in some document that 'they have the right to hold funds for 7 to 10 days '. The check having cleared YET THEY CONTINUE TO HOLD THESE FUNDS FROM US FOR ANOTHER 7-8 DAYS!!! These fund are due to become available to us on XX/XX/XXXX- which is OBSCENE and should be illegal. Fortunately we have means but if we didn't - this would've been catastrophic! I feel any family without our options who are subject to this!!
Frequently Asked Questions
What is Complaint #8366505 about?
Complaint #8366505 was filed against Truist Financial Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-02-17T12:00:00-05:00.
How did Truist Financial Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Truist Financial Corporation?
Yes, visit the Truist Financial Corporation company profile at readthecomplaint.com/company/truist-financial-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.