• Report: #368269

Complaint Review: Suntrust Bank

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  • Submitted: Fri, August 29, 2008
  • Updated: Tue, September 02, 2008

  • Reported By:Knoxville Tennessee
Suntrust Bank
PO Box 291286 Nashville, Tennessee U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Suntrust Bank Suntrust Bank's Backend Profits Nashville Tennessee

*Author of original report: Suntrust Bank, Knoxville and Murfreesboro, Tennessee

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Suntrust Bank is using questionable tactics to secure profits from individuals closing bank accounts. It is an indication of Suntrust's desperation in the economic crisis that looms over the heads of all banks in this time. Those with automatic payments for services including insurance premiums, credit card payments, and everything under the sun that makes life easier now should be very wary of Suntrust and how they "close" accounts.

I married in April, 2008, and we relocated from Florida to Tennessee. In June, my wife and I made the decision to merge bank accounts. I went to the local Suntrust Bank location in a Kroger and closed my bank account. The balance was zero. The account should be closed. The end. Right?

Of course not! I called my agent to have the automatic payment stopped on the account and requested a paper bill. For whatever reason, the draft was drawn on the account. Suntrust paid the amount, even though I closed the account. Then Suntrust charged an overdraft fee, one I have no intention to pay for obvious reasons. I was never contacted by Suntrust about the charge. I had to call Suntrust three times to dispute the overdraft charge. I spoke with so many customer service representatives I couldn't keep track of who I spoke with. I finally reached a person who was kind enough to give me the advice of "dispute" the charge with the company drafting from the account. I'll get back to this.

FIA credit card services, the credit card company Suntrust uses to issue credit cards attempted to draft on the account, even after I specifically went to the website the very day I closed the account to discontinue the automatic withdrawal. THANK GOD Suntrust decided NOT to pay this amount. This account was not to be drafted. I confronted the company over the phone. I spoke with two nice gentlemen on a conference call who offered to credit my account $35 for the inconvenience. Gee, thanks. Too bad I just got another statement by Suntrust today stating they just charged an additional fee as I have not paid that over charge.

So, here I am, speaking with a representative that recommends I dispute these charges. I call my insurance agent from the first company, the one that Suntrust paid my premium for me (and then charged me a $35 fee). No bank my agent has EVER worked with has ever paid a premium on a closed account. Mind you, I have another account I am attempting to transition to, and the whole time Suntrust is keeping my account open when I closed it with a $0 balance to begin with. I finally get some answers regarding this situation...

When you close a Suntrust account, Suntrust keeps that account open for 30 to 35 days. They claim this is as a "protection service." They rationalize this by claiming they try to "save people money" that would otherwise be charged by the company with which they have an automatic debit agreement. They want me to believe that this whole schism I am facing with overdraft charges exceeding $150 is for my convenience. When I finally speak to someone with some common sense, I'm told to file a dispute, an affidavit that I informed these companies that I intended to cancel these automatic debits, laying the blame entirely on them instead of on Suntrust, who kept my account open AFTER I CLOSED IT.

Suntrust may take the "high and mighty" position that they are doing a service to consumers by paying their automatic payments for them rather than assessing a fee. I have a sneaking suspicion that once I file these disputes, Suntrust will come back to me with further overdraft charges and claim the disputes had no positive results in the case and charge me the full overdraft penalties... ALL ON AN ACCOUNT I CLOSED at a Zero Balance!

Beware of what I will surely testify to as a SCAM by a bank on the brink of takeover by larger companies. I will file my affidavits. I will do what they ask me to do to resolve these disputes. And if Suntrust does not take immediate action to remove these charges from my account, I will take this to the national media and expose the whole, corrupt scam for what it really is. I closed my account. It had a zero balance. I went and discontinued my automatic payments. For whatever reason, these payments were not canceled by these companies (I have my suspicions about FIA Card Services, considering their connection to Suntrust). Now I am expected to give Suntrust Ammunition to try to go and, what, collect from these companies when Suntrust took the liberty to pay one of these when the account was closed and charge me overdraft after overdraft penalty.

Talk about scraping from the bottom of the barrel. This is just about the most obscene scam I've ever experienced in my banking relationships of the past. I will not recommend Suntrust to anyone in my family, circle of friends, business associates, or anywhere else.

Suntrust isn't exactly flourishing either, and it's no surprise as to why. Too bad they want to get their dirty little fingers in my pocket on the way out of the market.

Shaun
Knoxville, Tennessee
U.S.A.


This report was posted on Ripoff Report on 08/29/2008 05:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/Suntrust-Bank/Nashville-Tennessee-37229/Suntrust-Bank-Suntrust-Banks-Backend-Profits-Nashville-Tennessee-368269. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Author of original report

Suntrust Bank, Knoxville and Murfreesboro, Tennessee

AUTHOR: Shaun - (U.S.A.)

Since filing my report, I visited the Powell Branch off of Clinton Highway in Knoxville, Tennessee. I am pleased with the results of my latest attempt to resolve this issue.

I entered the branch and met with Jeremy R Cook, a Financial Services Representative. Since I was instructed over the phone to visit a branch to file a fraud claim by Suntrust Customer Service, I approached Jeremy with the situation. Jeremy spent time discussing the situation with me and explained that such action would NOT resolve the issue. He asked why I didn't contact the Originating Branch that held the account. I told him I could not remember the originating branch, was never given the information, nor was I ever instructed to speak with the branch holding the account.

Jeremy called the originating branch for me, the Murfreesboro University Branch. He spoke with Christie Graves, the Manager of the branch holding the account. I spoke directly with Christie about the situation, and after several questions about the issue, all service charges were removed and all that was left was the $15.21 payment Suntrust made to the Life Insurance company that drafted the closed account.

Barring any further incident concerning either FIA Card Services or the Life Insurance Company, no further issues should arise. I consider the matter closed, and my recommendation for anyone facing this situation or something similar is to contact the branch manager of the Suntrust Branch where you begin your account. This individual has the ability to resolve the situation as long as you have clearly made an effort to stop automatic charges from being debited from closed accounts.

My special thanks to Jeremy Cook and Christie Graves. Without your help, I would have paid $140 in service fees over a situation that was clearly out of my control from the beginning.
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