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SunTrust Banks Inc.

United States

Consumer complaints and reviews about SunTrust Banks Inc.

Matthew Rinehart Send email
 
Feb 23, 2012

Unfair overdraft

They only say what I previously stated in my earlier comment about reordering deductions from higher to lower and the reasoning behind it. I also called their CSG and asked for a verbal explanation. I read the little book they gave me.
Ellen67 Send email
 
Feb 23, 2012

Unfair overdraft

I heard that reasoning as well. And I am fine with it. Why? Because the bank can refuse to pay an item, they don't have to allow it to overdraft. They can still charge a NSF fee as well. And if they are going to pay an item, yes I would prefer it be my mortgage than a secondary importance item. That is, of course, if I were going to overdraft my account. And that is the key right there; proper account balancing prevents any fees.
Matthew Rinehart Send email
 
Feb 23, 2012

Unfair overdraft

I agree with you entirely. My only complaint is that while their reordering all of these charges, they put deposits last after they charge you fees rather than first before they take money out. Everything hitas on the same day by 8:00AM anyway. Why not just let deposits go first and then everything else to give their customers a break? Because thats not profitable. I knew the answer. I just think there are less irritating ways to make money. If the banks want to do that then they should sponser free to the public classes that are easily accessable by all on responsible banking.
Matthew Rinehart Send email
 
Feb 23, 2012

Unfair overdraft

If they create policies that cause confusion then they should offer classes on how to understand it better and how to handle finances. I didn't say they should be required to. I said they should sponsor the classes. Insurance companies do it for their customers, Home Depot sponsors home improvement project classes all the time. Its not a far stretch to say banks could do it. it would actually be a pretty good way to market the bank. If I were in the market for a new bank I would probably use the one that offered the free "how to manage your finances and understand banking practices class.
Ellen67 Send email
 
Feb 23, 2012

Unfair overdraft

I don't know about Suntrust, but other banks have links on their site that help clarify the mystery of banking. Some even have demos. But you want to bet how few people utilize these features. They don't have time. They don't have time to balance a checkbook either. I have read that particular comment on this complaint board. But they sure have time to call and cry when they receive an overdraft fee. Classes are a nice idea but then you need to pay employees for that, right? People don't want to pay a measly monthly maintance fee on their account as it is; you will never convince them it is necessary, so that the bank can afford to pay the additional employees to teach those classes. Most customers will state they find no value in the classes if they have to PAY. Ps: Home Depot does it to get you to buy more.. I am sure if an individual doesn't want to utilize the online demos, they can ask a banker for guidance. In fact, I am sure a bank csr would be glad to share that information, if a customer would take a moment and stop yelling about getting their NSF fees credited.
Matthew Rinehart Send email
 
Feb 23, 2012

Unfair overdraft

Suntrust reorders the deposits, withdrawles and debits to make sure that if they can take money from you they will be able to. Most banks do it. They say its to make sure that your higher priority bills like house payments, rent, car payments, etc. will get paid first but if that were really true they would allow deposits to go through before deductions. Thats not the case with most banks, or any that I know of but its a legal excuse to be able to take take take your money and there is nothing you can really do about it except get your 1 courtesy refund each calender year.
Ellen67 Send email
 
Feb 23, 2012

Unfair overdraft

In response to Mattew: They state the process in their disclosures. If a customer doesnt like their practices, open an account at a bank with terms you like. If you can find one. In the meantime, a customer should educate themselves on the processes and bank with those policies in mind. And by doing so, they should not overdraft or at the least have minimal fees. But the activity is driven by the accountholder and it is the customers responsibility to avoid these problems by banking responsibly.
Whocares9111 Send email
 
Feb 23, 2012

Unfair overdraft

It says on the ATM to call if there is a problem...why would you wait until the next day?
Fizza Send email
 
Feb 23, 2012

Unfair overdraft

I went to a Suntrust ATM to withdraw some money. The ATM was not acting properly and didnt dispense the cash. I had a check that was waiting to go through, but the merchant was going to cancel the check payment if I made the scheduled payment in cash before they closed, hence, the reason for the ATM withdrawal. I also had some deposits scheduled to come in to my account within the next two or three days. Even though the money was not dispensed from the ATM it still showed up on my account as if it had been. In addition, since I couldn't pay the bill in time the check was put through my account along with other pending transactions, therefore causing an overdraft to my account. The next morning went up to the bank and was told that an investigation would be done. If it turned out in my favor then the money would be credited back to my account along with all the overdraft fees. A week later, the money was returned but the overdraft fees were still there which was still causing my account to be in the negative. Went back to the bank and was told by the same ladies, that since i had tried to take the money out in the first place knowing that the funds were not fully available then the overdraft would still be my fault, despite the fact that I never recieved the ATM withdrawal in the first place. I then had to once again explain that if the money would have been dispensed, the check that caused my account to overdraft would never have posted, therefore never starting the overdraft issue. I also stated that some money was going to be deposited, but seeing that my account was overdrawn by 500.00, there was no way I was going to put that in the bank just so they could snatch it. Once again I was told that my case would be sent to the research department and within 1-2 business days I would have a response, which sounded completely ridiculous to me since I had just finished a review about the ATM mix-up. I am still waiting for an answer but seeing how shady Suntrust is, I already know what to expect.
Ellen67 Send email
 
Feb 23, 2012

Unfair overdraft

I have heard that claims, even ATM claims, can take some time. Once completed, they should be including the overdraft fee credit.

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