This all started when an unauthorized charge of $50.00 came through my account. It was for a service I had signed up for, but I had called that company and canceled the service over a month earlier. I had $618.00 in the bank and 17 items totaling $88.58 from my debit card use over the previous weekend, which left me with $529.42. That would cover the $510.00 rent check I had also paid over the weekend. But the $50.00 came out unauthorized and unexpectedly, which dropped my balance to $479.42, not enough to cover my $510.00 check.
In a panic, I called SunTrust, spoke to a girl, and explained my situation. She explained that I had to fill out a fraud packet for them to research. I reiterated that my account was now going to be short because of this transaction. She apologized and said there was nothing she could do until I filled the paperwork out, had it notarized, and sent it back. She said the only thing I could do to prevent my account from being overdrawn was to make a deposit to cover what I was going to be short. I wasn't happy about this, because I used to bank with Bank of America, and if you disputed a check card transaction, they would put a temporary credit into your account to avoid this type of thing. She said they wouldn't do that.
I explained to her that I knew my brother would loan me some money until I got this straightened out, and that I knew of a Walmart with a SunTrust inside it that was open until 7pm. I told her that we both got off work at 5pm and would head right over to the bank and deposit the money. I mentioned to her several times that we would be going there AFTER 5pm. I know from previous transactions with the bank that if you deposit CASH, it shows up right away. Just to make sure I had no problems, I reconfirmed this with her and said, "So if I go into the branch when we get off work and deposit cash, it'll show up right away and I will be ok, right?" She replied, "Yes, cash always shows up right away."
My brother and I went to the bank and deposited $70.00 cash. To make sure there was no problem, I explained everything to the teller and said I wanted to make sure my balance reflected the deposit. She said yes, my available balance was now $549.00 (that was taking the $88.58 in transactions out), so if my check was for $510.00, I would be fine. I went home and, because I am a worrywart, checked online, and sure enough my new balance was $549.00, so I was relieved.
I went to bed, woke up, and checked my account expecting to see $39.00 in there, and I was now negative $249.00. They had charged me $288.00 in fees, 9 of the 17 items posted, so $32.00 x 9 = $288.00. I called the local branch immediately, and she said it appeared that the $70.00 deposit was still "pending" and did not post last night, so of course the bank put the items through largest to smallest, and that is where I incurred the fees. I explained that I had done everything in my power to make sure my account had enough money to cover all items. She seemed baffled as well. I told her I deposited cash and that I verified with the teller that my available balance reflected enough funds. She said she would have to research it and call me back.
About 3 hours went by, and she returned my call and said that because I deposited it after 5, it didn't post that night. I explained that the rep on the phone was well aware that I would be making the deposit after 5 and that I knew I would be short. Why didn't she stop me and warn me of the policy? Why, when I asked if cash shows up right away, didn't she say, well, cash still has to be made by 5pm? She never said a word! This rep said she could only refund $100.00 of the $288.00 I was charged. I was so enraged that I spoke with her manager, and there was no help there either. They said that since it wasn't a banking error, that's all they could do. I explained that the misinformation or lack of information WAS a banking error. I am at the mercy of the bank, and if the rep tells me making a cash deposit is ok, and the teller tells me my AVAILABLE balance is $549.00, and the online system says AVAILABLE balance $549.00, why am I being punished? It gets worse. I accepted the $100.00 and was told I could try getting the rest through the customer service department.
My account still sat negative, and there was no one else I could borrow money from. Five more of the 17 items posted that night, so another $160.00 in fees. The next night, 2 more items posted, with $64.00 in fees, and the following night the final item came through with a $32.00 fee. That was a grand total of $544.00 in fees when my account had enough "available" funds to cover everything. They did credit back $100.00, so I still had $444.00 in fees sitting on my account, and my account sat negative. My paycheck was direct deposited that Friday for $522.00, and guess what, almost the whole thing went to these erroneous fees. I tried to stop the direct deposit, but I didn't do it in time, so I was left with about $100.00 out of a $500.00 check!
I have called, emailed, and written letters to no avail. This bank will not accept responsibility for the fact that their rep was either too lazy to take 5 seconds to explain that I needed to deposit by 5, or wasn't trained and maybe didn't know herself! In the meantime, I am disputing the original fee that triggered this whole nightmare, but I have a feeling they will come back and say it is valid; they don't want to lose any money. Another factor is how misleading their balance descriptions are. Online, it said my AVAILABLE balance was a certain amount. Doesn't AVAILABLE mean it is there and it can be taken? If anyone knows of any class action lawsuits, I would be very willing to see this bank change its deceptive ways. Although I don't make much money and I work hard for my money, I know there are people worse off than me, and it kills me that this bank gets away with doing this to people. I am a single guy who can eat cheap, but what about single mothers who have mouths to feed? During the days when my account was negative, my brother bought me food so I could eat, and I scrounged up change for gas. But the point is that I had enough money and they still pulled one over on me! SunTrust definitely ripped me off!
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