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SunTrust bank Complaint - Holding Money - Checking Account

Checking Account - Complaint
Review by cabinetsales on 2008-11-13
LYNCHBURG, VIRGINIA -- I have opened an account with SunTrust in Sept. Everything was fine until a $2000.00 check was deposited into my account. This was a corp check and was to be posted the next business day. My account was frozen two days later and the $2000.00 was put on hold for ten days.

I have two kids and a wife. We just moved to Va from Atl and I work in the building industry. I'm sure you now how well my sales have been. So I have taken on a weekend job. I do not get paid until the supplier gets paid. So on top of having to wait six weeks for my money now SunTrust makes me wait ten more days as well as freeze my account.

I have spoken with the branch manager at the Suntrust in Lynchburg VA (God that was terrible) as well as the area manager and still no money!! I do not know what else to do but I still have to provide for the family.

Can something be done about this?
Comments:
Posted by KenPopcorn on 2008-11-13:
The problem is that your account is new. Pretty much everywhere, new accounts are subject to extended holds. A check that large is reason enough to extend the hold as well. In the future, for an amount that large, you might want to ask that it be wire transferred into your account. You get immediate availability with that.
In the meantime, check to see if some portion is made available after 5 days. That is common practice. Beyond that, you are at the mercy of the branch manager, who has the ability to reduce the hold.
Posted by Stew on 2008-11-13:
Not too long ago I opened a new checking account at locally owned and operated bank. I deposited a personal check written off one of my other accounts for $5000. I asked the teller how long the hold was going to be to which the reply was none... The funds would be immediately available. I guess my point is you don't have to put up with BS holds and crap some of these banks try to pull. They need you more than you need them. Shop around... find a bank with more reasonable policies. They exist. Good luck!
Posted by cabinetsales on 2008-11-14:
Thank you both for your time. I have tried to go to the branch manager. She did say that she does have the power to lift the hold but she would not, (with a smirk on her face). Thats what sent me crazy. I wanted to ask her to give me her check and let me hold it for ten days. See if that pisses her off.
Posted by Mandeena on 2010-10-15:
This sounds all too familiar. I deposited my paycheck and bonus check yesterday. Every pay period I deposit my check on Thursday and the funds are available Friday. I scheduled an appointment to get a new car this afternoon based on that knowledge... and guess what checked my account this morning to see that the funds have not been placed in my account yet. I called and was told that they would investigate for me and call me back. It's been 2 long hours and no call back. I'm closing my account immediately

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