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SunTrustBank / overcharged

1 United States Review updated:
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In May I decided to start using my Suntrust checking account. I started a new job in May and on my way home from the east side of town, I was going to make a drivethru deposit at the Suntrust at the corner of SR 434 and SR 436. When I pulled up it was clear that the drive through was being worked on. There was a scaffold and yellow tape all around. The drive thru looked deserted. It was late now and I had no time to go anywhere else.

This was the start of losing over $500 in NSF fees. I am a creature of habit and came the following day. The ATM outside was closed so I made deposit in the overnight depository. That was a bad idea. Suntrust doesn't credit your account the next day which they should! This doesn't sound ethical to me. If you deposit money why can't it be credited the next day, especially if it is cash! There is no reason for this other than greed and the bottom line.

During this time I had lost my mail key and wasn't able to retrieve my mail from my box. I kept making cash deposits thinking I was okay, but I wasn't. When I got into my mailbox they had charged me over $500. And this was all because this bank doesn't credit your account in a timely manner. I talked to a rep and she credited me $70 and said that was a one time credit because of the drive thru. I later talked to the local bank manager who did the same.

If they notice a trend on a person's account where there is a lot of deposits yet a lot of NSF fees, can't they notify you? I guess not because banks make a lot of money off poor class people that can't afford it. But that's the way of the world, isn't it? The rich get great interest rates on loans and make money off their bank accounts. They can afford problems like this. But the poor, who can't afford it all, are the ones who continually get charged high interest rates, and NSF fees of $30 per occurrence. This cycle is never ending. You need a car, your credit is poor, you have to pay a higher interest rate. You struggle to make ends meet and pay your high car payment, then you don't pay a credit card monthly bill or don't get your deposit in on time and you are charged $30 late credit card payment and a $30 NSF fee. The poor can never dig themselves out from under a mountain of debt.

To sum it up, the bank would not help me further. I was on the phone every night talking to a rep named Tony to try to get some help on all the charges. I read someone else saying talking to the Suntrust reps was like talking to a robot. I totally agree with this. Every time I called regarding this matter I always hit a brick wall. One time when I called to talk to Tony about this matter one rep asked me twice for my personal information. Was this necessary? Also it seems like every rep has a different knowledge base. Sometimes when you call you reach someone who knows where. One time when this happened, I asked to be transferred to the Orlando call center. They could not do it! Why couldn't they?

I know that there is legislation going through now about high interest rates on credit cards. Why can't they do something about the high NSF fees that the banks charge? Why so much, it doesn't cost that much to them. If your check bounces you not only get a bank charge but the person you made the check out to will charge you another $25-$30 as well. Someone has to do something about these NSF charges. The people that get charged these fees are the very people who can't afford them.

Va
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Comments

  • Tr
      11th of Aug, 2008
    0 Votes

    I BANKED WITH THEM FOR A FEW YEARS AND X~MAS EVE AFTER BALANCING MY CHECK BOOK SHOULD HAVE HAD ABOUT $1400.00 IN THE ACCOUNT... hAD OVER $500.00 IN OVER DRAFT FEES. STILL DONT KNOW WHY IT HAPPENED. AND HAVE NOT USED THE ACCOUNT SINCE!!! HORRIBLE CUSTOMER SERVICE!!!

  • Li
      30th of Aug, 2008
    0 Votes

    We have a small business and check our bank acc. with Suntrust every day, the online readout is very confusing in the way they put the debits & deposits and we have had checks bounce because of it and found mistakes. We have a friend that works as a teller for them and she said to watch our accounts very close because they make mistakes all the time. We have been to the bank and talked to bank reps. over the phone but to no avail. So if you go to Suntrust be leary of the way they do business. Suntrust also says that they take the deposits first then the debits, thats a untruth, if they can bounce a check they will find a way.

  • Jo
      20th of Oct, 2010
    0 Votes

    We had taken out a small business loan in 2007, when the interest rate was 9%. Our store opened in December, the same month that the bottom fell out of the aconomy. Since then, the interest rates had dropped significantly. So, we asked if we could refinance or in some way modify the loan. Our banker at the time, said that he would get in touch with another loan department in the bank and that they would be able to help us. He also told us that he had given them all the information that they needed and asked them to expediate the modification. Three months past, while we struggling to make these loan payments on time and constantly calling about the statis of the modification. Well the payment was coming due; the same banker at that time told us that other department would get in touch with us that week and to wait for them. We heard nothing.we kept calling but no one knew anything. Then, another department in the bank is calling about us not making the loan payment and we told them that we were told to wait until we heard about our new payment. do they not communicate with one another?
    I went in the next Friday, to get change from the account that we had just made a large deposit into the day before and found out that our accounts were frozen. Customer service was trying to find out why, while the Vice President at the main office was trying to locate someone that knew what was happening. No one
    knew anything and the banker that we had been working with was unreachable. In the meantime, checks are bouncing like crazy, I have inventory coming in, and no way in which to pay. The money was there, but we couldn't touch it. Finally, we were told that the accounts had to be frozen in order to modify the loan. This was truly a horrifying ordeal. I was standing in the midddle of that bank crying, with no idea of what to do and no one to tell me. We contacted the Banking Commission, that called themselves investigating.
    Suntrust lied and said that they could not reach us during this process. We were in constant touch, but, they would not communicate via e-mail. Now, we know why.
    Our accountant told us to get a lawyer. He said that since my house was the collateral, that they knew that we would do anything not to lose it; basically, they had us over a barrel. We refinanced with another bank and paid off the loan with Suntrust. So, they had ready funds right then; no matter the interest that they lost.

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