‘Run from this bank,’ fumes Truist customer after $1,000 paycheck withheld – and I was given no choice about it
A BANK customer has issued a warning to others to run from it when possible.
Truist Bank gave an individual a major surprise when they reopened their account after a while away.
Kayla reopened an account with Truist after several years to find that her paycheck was taken in its entirety to cover a bank debt (stock image)Getty
Kayla alleges that she did not leave a negative balance at the bank before closing her account the first timeAlamy
The individual, who opened an account with SunTrust in 2020 and later transitioned to Chase, was taken aback when they reopened an account with Truist.
They found that their entire paycheck, amounting to over $1,000, was seized to settle an alleged debt to the bank.
According to the account holder, Kayla, who posted about their grievance in a Facebook group, she has no recollection of leaving a negative balance on the SunTrust account prior to switching to Chase.
Despite trying to get statements from collections to verify the account’s negative status and associated fees, no concrete evidence has been provided.
“Beware or better yet, take your money and run from this bank,” Kayla concluded her post. “Fast.”
As of the time of writing, Kayla has not updated the status of her situation.
NOT AN ISOLATED CASE
Kayla is not the only one who has banked with Truist and has suffered losses.
Entrepreneurs Ray and Tashike Rogers, proprietors of a headstone company based in Jacksonville, Florida, narrowly avoided a potential $1,000 loss when a Truist Bank ATM seized all of their cash.
Their ordeal began when they endeavored to deposit the funds into their business bank account but encountered multiple error messages.
Tashike Rogers recounted that the trouble started shortly after she attempted to deposit $1,000, consisting of $50 and $20 bills, into an ATM located at their neighborhood Truist branch, as reported by WJAX-TV, the CBS affiliate in Jacksonville, Florida.
Despite her efforts, the ATM issued two receipts indicating errors, leaving the money trapped inside the machine.
“We apologize, there was an ATM error, and your deposit did not process,” the first read.
“We encountered a problem returning your item(s). Please contact your financial institution,” read the second.
After swiftly filing both a police report and a claim with the bank, the couple received disheartening news from WJAX-TV, reporting that the bank insisted “no error occurred.”
Consequently, the bank initiated collections proceedings against one of the couple’s accounts, alleging insufficient funds.
It wasn’t until the Rogerses directly contacted WJAX-TV that they began to uncover more details about the incident and embarked on the arduous journey of reclaiming their funds.
Footage from police body cameras, obtained by the station, captures a bank manager informing a Jacksonville Sheriff officer that, based on the bank’s reviewed footage, it was challenging to ascertain whether Tashike indeed deposited money into the ATM.
In due course, the station helped with the return of the Rogerses’ funds, which they subsequently reinvested in their business, while also successfully removing their account from collections.
Why banks withhold checks
Below are typical explanations for why a bank might extend the hold period for a check beyond two business days, per Business Insider:
New customers
Banks tend to impose holds on check deposits from recently onboarded customers, particularly those whose accounts are less than 30 days old, compared to established customers with whom they have built a longer and more trusted rapport.
Large deposits
Checks exceeding $5,000 in value, or those surpassing the total current balance of your account, are more prone to be subjected to extended holds.
Frequent overdrafts
Accounts with a recurrent history of overdraft incidents may prompt banks to enforce holds on checks to ensure their clearance before disbursing the funds.
Checks previously returned unpaid
Depositing a check that was previously returned unpaid, either once or multiple times, heightens the likelihood of the bank requiring verification of the check’s validity before releasing the funds.
In other news, a Chime account was recently terminated following a fraudulent incident.
And a scam resulted in the unauthorized sale of a veteran’s home.
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